Data enables brands to make decisions more effectively. A recent Forrester study revealed that “companies with advanced analytics cultures averaged a 9.1% increase in marketing ROI over the last one to two years – a 1.7x performance improvement over those without.” When it comes to sponsorship, the effectiveness of data holds true as well.
Data, and the insights derived from it, are now being used by many brands to understand the latest trends. For example, the unstructured data from social and digital media can be used to understand the content, media (image or video) or sponsored influencer who most resonated with a brand’s audience and even identify one they may not have thought to leverage.