When decision-makers are able to focus on data quality rather than volume, they can launch effective marketing campaigns that attract specific people or niche. This is important today because tech-savvy consumers now recognize the difference between targeted and generic advertisements.
A recent study of more than 800 companies by a major marketing analysis firm revealed that digital marketing initiatives will likely gain momentum in 2013 and beyond, as 71 percent of respondents said they plan to boost investments in this category. Specific budget allocations, however, will vary among organizations depending on their target audience, industry or corporate goals.
The survey found that 46 percent of decision-makers plan on increasing investments in analytic strategies, suggesting they are taking a stronger approach to data quality. Other executives said they intend to increase email, mobile and database marketing tactics to garner more return on investment.
Forbes said organizations will also invest in social media advertising, as these platforms are used by the majority of consumers. By planning ahead and developing data-driven projects, businesses of all sizes can attract and retain more customers to generate more revenue and gain a competitive advantage.