Benefits of Data Visualization in Digital Marketing

The importance of digital marketing has increased many folds in the past half a decade or so. Hence, it should not come as a surprise if digital marketing becomes the most important aspect of any companies marketing strategy.

From the customer perspective it offers 2 advantages:

• Relevance
• Appropriateness

Relevance

Based on our search history, platforms like Facebook, Google are able to profile each and every individual with a fair degree of certainty with their powerful algorithms. With this information they know which product you might like. Thereby, advertising only those products which are relevant to you.

Appropriateness

Usually, people like to see videos or an article during their idle time. Advertising during this time generates more interest in an individual as his/her mind is not occupied with attending meeting or cleaning the house. Moreover, most of these advertisement has an option to skip, if an individual do not want to see the ad at that moment. This again gives valuable data points to these platforms to adjust their algorithm to advertise more efficiently.

In addition of giving the above benefits to an individuals. The list of benefits it gives to the companies is the reason why this has become a platform of choice for most of the companies to advertise their products and services.

Lets discuss some of the key benefits it brings to the table for the companies:

• Wide Penetration of Smart Devices
• Cost Effective
• Focused Targeting
• Data Generation

Wide Penetration of Smart Devices

The biggest handicap of digital marketing was that it could advertise to only those people who had a smart device with internet connection. However, this handicap has been almost eliminated with the advent of cheap smart devices and even cheaper internet connection. The situation has become such that those who cannot afford to have smart device would probably could not afford your product either. This development has enable digital marketing to get importance which it has today.

Cost Effective

This is probably one of the most important feature of digital marketing. It cost less than one-tenth of what traditional marketing cost. The reason why it is so cost effective is because most of the platforms follows the model of pay per click. The company is not charged even if the person sees your advertisement. They are only charged when an individual goes and click the advertisement. This is big departure from traditional marketing where the company is charged a fixed amount irrespective of how many people sees your advertisement. Moreover, there was no way to ascertain if the person became interested in your product by seeing the advertisement. Unlike in digital marketing where you know if the person has clicked the ad probably he/she is interested in your product.

Focused Targeting

As mentioned earlier people will see only those advertisement which are relevant to them because of the powerful profiling algorithm of the platforms. This means that companies do not spend advertising their product to those who are not their prospective buyers. This enables them to concentrate their time and money on only those group of people who can potentially generate future cash-flows.

Data Generation

Digital marketing generates lots of data. This data helps companies to adjust its campaign to be more effective. Information like what time the ads viewed the most, from which location the ads viewed the most, from which device the ads viewed the most, from which platform the ads viewed the most and for how long the ads are normally viewed. These pieces of information are like treasure trove and can guide the company as to what they are doing right and what needs to be changed. These information are obviously cannot be gather if the company decides to advertise on billboards or newspaper.

All the digital marketeer agree that it is not enough to advertise on one channel. To be effective, one needs to advertise on multiple channels simultaneously. The problem with this is each platform will generate the data on its own platform and it becomes difficult to do comparative study unless if all the data points are available in one place.

Perfview Management Consulting assist you in bringing all these diverse data points in one view and help you in making decision quickly and easily.

Contact us if you want assistance in managing your digital marketing campaign effectively.