General Data Protection Regulation (GDPR) is an entirely new set of standards and criteria basically designed to strongly strengthen the control of individuals that they have over their informational and personal data.
With effect from May 2018, GDPR will be legalized for all the brands and companies. They all will be required to adhere with the rules and regulations. And if they will not comply with the rules, they have to face a heavy fine of up to €20 million and this could result into even 4% of the organization’s global annual income, whichever is larger.
How GDPR will Impact Marketing Industry?
In marketing and advertising industry, Data is everything. As it gives complete insight of the consumer like who they are, what they want, and what they are looking from the company.
In the industry where “Data is the Key of Marketing, you need to consider a few points:
- The core basics
As per the European Parliament, GDPR ensures protection of personal data for all the groups and individuals that too within the European Union (EU). And that includes the successful export of personal data that too outside the EU.
- A quick summary
From now onwards, following the old traditional method is not sufficient. Previously personal data could be processed by selecting – pre-ticked boxes, which in turn, results an assumption that consent is given by default.
But from now organizations are required to be specific and answerable about what they will do with the data.
- The possibility of ’slowing- down’
Today information is everywhere. And rightly directing and capturing the data enables brands and businesses in building brands and successfully driving development and sales.
According to the recent study performed by DataMeer customer analytics has used 48% of Big Data for successfully implementing sales and marketing. And that plays a crucial role in the prediction of client’s behavior. Nowadays marketers and strategists are strategically targeting individuals by knowing their key information like browsing history, salary and internet browsing habits and loyalty data. And these campaigns allow marketers and branding experts in getting beyond the campaign execution and rightly focus on the customer relationship management (CRM).
But with GDPR there are chances that a decrease in access to the customer’s data may occur, which may result into restricting the ability to target individuals, which they does on the basis of personal data collected.
- Possibilities of survival
Undoubtedly, GDPR is going to strongly shake up the digital marketing space. So it’s important for brands and businesses to ensure they are willing to rightly implement the changes required to comply.
With the heavy possibility of a slowing-down in the progression of marketing ensure your brand and business is ready to adapt and shift in order to properly manage and handle this. So don’t just move ahead and accept it, do what you can do in order to successfully drive business development and sales. Just plan and move ahead.
- Never panic
Since its launch, there have been a lot of ambiguous and scaring assumptions around the GDPR topic that everyone is worried of. Many marketers and brand strategists are exaggerating the scenario. Even GDPR has come up with some of the biggest adjustments in data protection laws, especially since The Data Protection Act 1998.
So with all the exceptional things that consumer data can offer to help every marketing and advertising industry, hackers are also looking for the enormous opportunities with the wicked motives to get their hands off on the confidential and crucial information.
Online marketing is one of the most challenging parts. As evolving technology when gets combined with the changing expectations can result into making the market more difficult. Today even the most experienced marketers find it more difficult to deliver the right results. And, that’s why analytics is luring online marketers because it shows tremendous opportunities to them. It offers an incredible amount of information which when used appropriately, can help gain tremendous value and insights. Being an experienced and well-versed website development company, we have enlisted Top 5 Tips on how to use Analytics in Online Marketing strategy.
Review a lot of Data – The worst part about most of the analytic suites is that they provide you a huge amount of data to use. And, that’s why most of the time marketers have more data than they need. One of the common mistakes that they does is – they just grab the small bits and pieces of data accumulated from analytics, which tends to be short-sighted. However, it requires much time and energy to focus on the data as it helps in obtaining a complete picture and ensuring that marketers understand how target metrics can be well fitted into the entire picture. Moreover, this looks a bit confusing initially, which is why many marketers tend to only focus on small sections of analytics, but if we talk in the longer run, it helps marketers in making much sound and better data driven decisions.
Don’t just make assumptions – By using analytics many times you can find multiple trends and assume that one trend has caused or influenced the other. But that’s not the case always and it’s important for marketers to look at the various crucial metrics that includes important data points so that the actual cause can be confirmed rather than making a possibly incorrect assumptions.
Have right perspectives – While considering the data, marketers are required to do it without having any expectations and assumptions. As most of the marketers fall into a trap of using the existing data and making it fit into their expectations in a way that ends up in having wrong decisions.
Ask the Right and Appropriate Questions – One of the scientific ways that works well in marketing while using analytical data – just ask a question to define the challenge or issue, do proper research, perform a hypothesis and then rigorously test that hypothesis. Being a well-versed marketer, the most required thing is to figure out the right challenge. The more focused question you’ll ask, the easier it will be to find a specific answer. On the other hand, the more general questions can result into more ambiguous answers. And, then as discussed, just follow the right analytical data to find the possibilities and determining the right method to correct the action, which is to be followed by testing.
Rigorously test before making any changes – One of the most underused tips is – rigorously test before making any changes. Analytics has a lot to offer and sometimes it has proved so efficient that it has helped marketers in making right evaluations and conclusions. And, if you are making changes to your campaign or strategy without properly testing them then result can proved to be worse than before. By properly testing the things out, you can confirm or deny the hypothesis and possibly gather a new array of insights. Rigorous testing helps in gaining more confidently and making changes to the current strategy with a much more assured outcome.
So, the bottom line is that right analytics has the capability to offer a wealth of information for web designers, developers, publishers and online marketers. Hope the above mentioned 5 tips for using analytics in online marketing will help you in ensuring that you are making the most of that opportunity and getting ahead of your competitors.
Why do businesses need a mobile app? Reasons can be multifold – nurturing loyalty, flourishing brand awareness, gain new and potential mobile audiences, and get a competitive benefit, among many others. Mobile apps have now become a robust and effective marketing channel for brands and after doing everything for a successful launch of an app, we also expect it to be a commendable source of revenue. Identifying which Business Model is right for your app is one of the key factors, you need to consider while making a mobile app marketing strategy for your brand.
Many businesses enter the mobile arena because they too want to be a part of billion-dollar success of app business like WhatsApp, SnapChat, Vine, Instagram and Angry Birds. But developing a kink-free, user-centric and engrossing app is one thing and marketing it, in the huge ocean of app store, is another. With over 1.2 million apps in Apple’s App Store and almost the same number in Google’s Play, making your app a big hit is not easy. According to recent stats – 2% of app developers claim about 54% of all app revenues. So, how can you join that tempting 2%? – Yes, through a well-developed and a well-marketed app. And, for that, you need to chart out a well-thought and a properly analyzed pre-launch and post-launch marketing plan in order to gain profit from your app. Remember that both app monetization strategies i.e. Pre-Launch Mobile App Marketing strategies and post-launch Mobile app marketing strategies should be created before you launch your app in the app store. However, as time passes, these strategies can be evolved or even changed completely, depending on the requirement. Identifying which Business Model is right for your app is one of the key factors, you need to consider while making a marketing strategy for your app. Here are a few points that need to be considered :
1. Identify the problem your app is trying to solve and how?
2. Find out the uniqueness in your app and do people pay for that?
3. Analyze business models that competing apps use and evaluate how well have they worked on those models
4. Figure out the ways to maintain a balance between your need to gain users with your need to earn revenue.
Monetization models offer your app business a great potential by increasing your revenue stream. By selecting a right app monetization model you can increase your chances of making your app successful. However, it’s not important that these models can’t be mutually exclusive; you can definitely mingle them or use more than one as per the requirements. Here are a few tips to help you choose the right monetization platform for your app :
Know the Options
Before figuring out the best business model for your app, you need to know what options your apps have. Remember that the amount of traffic you get on your app depends on the business model selected from the ones available for you. Every business model available can enable you to monetize your traffic, your content, your app and many other factors. Other factors depend on what type of app you have built and what goals do you have for our app.
Set Your Goals:
Set Your Goals
Monetization strategies can help you do more than just increase revenue. In order to choose the right business model for your app, you need to define your overall goals. As it helps in figuring out which metrics to measure and how to improve over time. Hence, it is always recommended to define your goals for a successful implementation of your app marketing strategy.
Brand Your App, Not yourself
Brand Your App, Not yourself
Your app is what your audiences think about, not you. Your target audiences want your app to help them in facilitating their needs effortlessly. So, your app should always reflect your audiences’ shared values, not yours, because it’s they who make your app successful. So, always know your audiences and find out the specifics of your target audience like demographics, age group, gender etc.
Consider App Reviews
Consider App Reviews
User reviews are one of the most important factors in finding out the problems or glitches in your app. Reading reviews of your competitor apps is also recommended as it helps in finding out the factors that need to be enhanced or added in your app that too before launch.
Before you choose the best marketing strategy of your app, explore all the possible options and then define your goals and your audiences. With the right choices, you can create an effective marketing strategy for your app because the right monetization strategy has the capability to help you grow your app business by increasing engagement, ROI and lifetime value.