‘Data-driven’ is one of those terms which seems unnecessary for marketing. Surely all marketing uses data to some extent, so why does there need to be a distinction?
As marketing increasingly moves to digital platforms, however, the concepts behind the term ‘data-driven marketing’ have become distinguished from more traditional marketing and even have their own vocabulary.
Terms like programmatic buying, real-time bidding (RTB), data management platform (DMP), customer data platform (CDP), and attribution modeling are now standard lingo when talking about using data for marketing nowadays. Without some grasp of these terms and the concepts behind them, marketers can quickly become lost when speaking with others in the biz.
For readers who feel that they need to catch up in this area, Econsultancy has a number of blog posts on these topics and Econsultancy subscribers can consult our recent research covering programmatic, data-driven branding and the role of the CRM in data-driven marketing.