From data-driven marketing to precision marketing in a post-COVID-19 world: How can companies benefit from this shift

According to McKinsey, companies need to do at least three things to tap into the power of precision-marketing:

      1. Invest in tech that learns at scale (develop technology capabilities that “can read and interpret signals of consumer intent and consumer responses to marketing messages and then feed them back into the marketing engine”);

      2. Cut down on unproductive areas (such as event sponsorships, traditional TV advertising, and programmatic display based on outdated terms) and reallocate the savings into analytics–the savings thus generated could be reinvested into tech and funding of data-driven programmes

      3. Deploy agile marketing in remote settings (as remote working becomes the new norm)  – for instance, convert “physical war rooms into virtual ones, creating additional points of contact to support adherence to agile protocols (such as sprint check-ins by video, for example) and the use of collaboration tools.