As marketers start planning for 2024, data-driven analytics platforms like Keen can help them determine the best performing channels to focus their efforts on.
The Keen Platform combines historical data and predictive, prescriptive planning, enabling marketers to more easily forecast high-impact channels and identify changes in consumer behavior in real-time. The ability to see these real-time changes allows marketers to quickly pivot to another channel and prevent potential roadblocks, leading to less wasted ad spend and a better chance of delivering on a campaign. While many marketers continue to stick to static budgets, a data-driven approach allows for a more fluid approach to 2024 planning.
Analytics tools like Keen can also build brand equity in 2024. Brand equity is critical for any organization as it helps keep their brand top of mind among consumers and can help weather any potential changes in consumer behavior. If consumers have a positive opinion of a brand, they’re more willing to stick with it and instead choose to switch away from other brands they have less affinity for. For example, social media engagement data can help understand whether customers are on the fence about switching, so marketers can offer a coupon or a free trial in order to keep that customer in their ecosystem. It can also enable marketers to see whether their competitor’s customers are considering switching, giving them access to a persuadable customer base. By building on existing brand equity and winning over new customers, marketers can build a solid long-term customer base.
A data-driven approach allows marketers to stay at the top of their game in 2024, avoiding any potential challenges in the market and identifying new customers to build upon their existing brand equity. With so much still unknown about the state of the economy and the outlook for 2024, this ensures that no dollar goes to waste and enables marketers to build a successful plan for today’s uncertain environment.
Want to speak to someone at Keen to learn how we can help you create a winning 2024 marketing plan? Contact us today.
