Successful marketing is based on a combination of «logic» and «magic». While «magic» describes the innovative, creative staging and implementation of marketing, «logic» stands for the fact-based reflection and definition of a market-oriented marketing strategy. In the past, this was primarily based on financial and classic market research data. Today, however, the often-quoted metaphor applies: «Data is the new oil.» Data-driven marketing is currently at a turning point: never before has it been so easy and at the same time so essential to collect huge amounts of behavioural and interaction data.
At the same time, however, it has never been more challenging to integrate, interpret and use this data in a meaningful and trustworthy way – and to derive effective measures from it.
This issue is dedicated to the opportunities, but also the challenges, of the strategic necessity of data-driven marketing. 60 percent of marketing executives attribute high or very high importance to data literacy (McKinsey, 2024). Particularly relevant at present is the question of how data strategies can be combined with artificial intelligence. While generative AI is increasingly being used for content creation, the algorithmic analysis of marketing data is also becoming more important. Expectations are high, but they are not always met: many companies struggle to provide AI systems with high-quality, marketing-relevant data – but unfortunately, the data quality does not always meet business needs. A sound data strategy is therefore the central foundation of successful data-driven marketing.
This issue addresses questions such as: How can data-based insights be combined with creativity, brand management and strategic thinking? And how do you measure the impact of marketing today? This issue makes it clear that anyone who wants to engage in data-driven marketing must not only invest in technology, but also rethink their culture and strategy.
We hope you find this issue inspiring and that it gives you new ideas for your own data-driven marketing – we look forward to your feedback!
Prof. Dr. Sven Reinecke