How Does a Data Science Degree Boost Digital Marketing Strategies?

The applications of data science extend to multiple fields and industries, starting from healthcare and education to commerce and logistics. The good news is digital marketing is no exception. It is a diverse field of study and multiple industries are leveraging its opportunities, as it is considered a foundation of today’s state-of-the-art technologies, including machine learning, self-driving cars, AI-based virtual assistants, and more.

At first, the term may sound a bit hard to grasp, but rest assured that it has immense potential in boosting one’s digital marketing strategies. In the following paragraphs, we will learn about the role data science plays in digital marketing and how you can utilize your data science degree to boost your or your client’s eCommerce business.

What is Data Science?

Data science, as the name suggests, encompasses everything that is associated with data and analytics. Data science involves the use of various techniques, algorithms, tools, and systems to extract valuable information, knowledge, and analytical insights from massive chunks of both structured and unstructured data. Using this vital business or market data in one’s niche, business owners and marketers can derive actionable insights to make more informed decisions.

The key roles and responsibilities of a data scientist include −

• Extracting, defining, and cleaning different data sets

• Analyzing and evaluating data to identify the latest market trends and patterns

• Developing machine algorithms to leverage automation tools

• Creating analytical dashboards or visualizations to develop data reflections

• Predicting future trends

• Presenting the vital findings to the company or client to help marketing teams or other concerned teams make smarter decisions

• Researching different datasets to identify opportunities for future growth and team efficiency.

In short, a data scientist is responsible for developing and managing databases, analyzing and understanding multiple datasets, and communicating the derived data.

The Importance of Data Science in Digital Marketing

Even though the two fields may seem different, there are good links between them. In fact, the skillsets of both fields can complement each other, allowing marketers and eCommerce merchants to boost their brand's name and growth. Data plays a major role in bringing revolutionary changes in sales, website traffic, lead generation, and customer engagement.

Digital marketing strategies would hardly have any meaning without data science. Data science offers eCommerce brands and online marketers valuable analytical insights into market demands, trends, buyer patterns, and spending habits of the target audience. The collected data also allows marketers to recognize and identify their current market standing compared to their competitors.

So, data scenic can be useful in the following digital marketing arenas −

• Keyword research

• Website performance analysis

• Competitor analysis

• Monitoring and evaluating website ranking statistics

• Identifying customer preferences and buying habits

• Determining the key marketing metrics and campaign performances

6 Ways Your Data Science Degree Can Help in Digital Marketing

With the rising trends and demands of online shopping, businesses have the opportunity to generate large amounts of data from multiple marketing channels. By gathering all this vital information, you can fine-tune your campaigns to maintain consistency in customer satisfaction and their spending habits. Here are the best methods of utilizing your data science degree in digital marketing.

1.Optimizing Your Marketing Budget

Being responsible digital marketers, you have strict budget allocations for your online campaigns. We know how your team is putting efforts into driving maximum ROI and profits from your allocated budgets for digital marketing. However, without having the right data insights in hand, generating the desired results may be a bit challenging.

At times, things may not always go as per your original plan, and business owners may feel their budget utilization is not achieved as per expectations. However, you can keep things on track and make smarter budgeting decisions by having access to the right data on your spending and acquisitions.

You can consult a professional data scientist to help develop a robust spending model to aid you in utilizing your marketing budget wisely. Moreover, a data scientist would have the required expertise to help your digital marketing team distribute the marketing budget in a balanced manner across multiple channels, geographic locations or markets, campaigns, and mediums, thus optimizing your key advertising metrics.

2.Recognizing Relevant Marketing Channels

Data science can help marketers discover and track the traffic sources and evaluate which channels have the highest potential to bring more business. For example, you can identify where your website visitors have heard about you, whether it is through Facebook, Instagram, Twitter, referrals, or other sources. It gives you the opportunity to tailor your ad campaigns after analyzing how well they are performing.

3.Boost Website Traffic with SEO

SEO or search engine optimization is a method of boosting your website traffic by improving your search engine rankings. We know that the web pages that rank higher receive more clicks, and hence, bring in more website traffic. Data scientists leverage SEO tools to boost lead generation and conversions through several actions, like data collection, data analysis and interpretation, and feedback.

4.Intelligent Lead Scoring

Even after leaving no stone unturned in developing impactful marketing messages, let’s face the truth! Not every effort would get converted into paying customers. However, data science can improve outcomes by building an intelligent and exceptional lead rating system. Lead scoring can calculate the possibility of segmenting and transforming your lead accounts and lists effectively.

5.Sentiment Analysis

Yes, you heard that right! By learning about customer sentiments, eCommerce brands can have an added advantage. A data scientist would aid you in analyzing your market sentiments by identifying and evaluating consumer beliefs, attitudes, and opinions. Further, you can analyze how your buyers are reacting to a certain product launch event or campaign, thus determining their level of engagement with your business.

6.Email Marketing

Digital marketers can implement data science methods to identify the market demographics and the number of prospects who have clicked on a promotional email. It also helps you identify how many of them have visited your website after opening or reading the email. As a result, you can create more targeted and focused ads and campaigns.

Such vital information will answer many of your marketing questions and fill the gaps that may be present in your email marketing campaigns. You can track who is genuinely interested in your product or brand, and accordingly, you can curate or personalize your emails by creating specific buyer personas. You can also determine which emails are driving higher website traffic and leads.

Final Words

To conclude, the power of data science has gained immense popularity in recent years, and its potential is seen in various fields, including digital marketing. We hope the above approaches and methods of using data science in digital marketing will help deliver higher customer values by curating your ad campaigns. Consider hiring a professional and knowledgeable data scientist to make your data analysis processes easier and more efficient.