Torture the data, and it will confess to anything”- Ronald Coase
We have all heard the era’s favorite notion of information being money but have we ever wondered how this actually transforms?
There is data flooding upon a rural marketing agency from every direction possible, unfortunately most without a credible source to support its correctness. In such a situation, data management becomes that much more significant.
Data management is the development and execution of architectures, policies, practices and procedures in order to manage the information lifecycle needs of an enterprise in an effective manner. If you get rid of the technical jargons, in layman’s term, data management is providing structure to raw data through usage of appropriate models that convert it into useful business information. These inputs are used in various areas such as strategic planning, financial planning as well as marketing.
Why is data needed?
Data is information in raw form of facts or statistics, these may pertain to a particular sector, industry or product and may be presented in quantity or quality. Devising a rural marketing campaign is largely dependent upon complete, accurate and readily available data, which can be referred to understand the product, market and target audience. However, the data needs to be managed to deliver value through such campaigns and communicate the message in the best possible manner.
As per statistics, 77 percent of marketers trust a data driven approach and rely on its management for the following:-
- Audience and market analysis
Audience data helps a marketing agency understand the habits of target audience, needs, preferences and lifestyle choice. This scrutiny prepares the marketers to plan their interactions accordingly, for best results.
The importance of forecasting is not hidden in any business activity as it assists the marketer to comprehend the situation and take a future oriented decision. Not only that but data enables the study of market trends and patterns which in turn acts as a big help in creating marketing strategies of the company.
- Customer experience optimization
There is no denying that if you know your customers better, you can serve them better. This power is channeled through data available in the market to come up with better strategies directed towards improving customer satisfaction and experience.
- Align their campaigns to match consumer needs.
Data management allows a peek into the target audience so that understanding them becomes easier but after this initial pleasantries are over, it is time to use these findings to ensure that marketing objectives and strategies are aligned perfectly with the customer’s demands and likes. This creates a harmony between the marketing strategies and customer needs, which impacts the brand promotion in a positive way.
- Maximization of effectiveness as well as efficiency of rural marketing campaigns.In order to optimize the marketing efforts of a rural marketing agency, information is needed to create plans that can be converted into actions using the path laid down for them by the findings of analysis of data, as seen above.
- Performance appraisal
It is impossible to determine the success of a rural marketing campaign without any substantial data. The data accumulated during execution and implementation of campaigns should be stored and processed using suitable models to help improving as well as calculating ROI.
In addition to the above points, data management also facilitates organization of resources and their optimal utilization during a rural marketing campaign.