Marketing Engineering: Definitions, Software, Tools & Examples [2023]
In today’s rapidly evolving business landscape, marketers are under constant pressure to deliver better results and stay ahead of the competition.
With advancements in technology and the availability of vast amounts of data, businesses are turning to Marketing Engineering as a way to create more effective marketing strategies and make data-driven decisions.
Marketing Engineering is a quantitative approach to marketing that combines engineering principles and techniques with marketing concepts to optimize marketing performance.
In this article, we will explore the use of Marketing Engineering in businesses, the tools and techniques that can be used to implement it, and the benefits it can provide in terms of improved marketing performance and ROI.
We will also provide real-world examples of how Marketing Engineering has been successfully implemented in different industries and discuss how to overcome potential challenges when implementing this approach.
What is marketing engineering?
Marketing Engineering is a data-driven approach to marketing that uses mathematical and statistical models to optimize marketing campaigns and improve results.
Data is essential for the marketing engineering approach, as it’s required to analyze and optimize marketing campaigns based on KPIs.
What Is Marketing Engineering Software?
Marketing engineering software uses analytics to make data-driven marketing decisions, offering various functions for specific tasks and purposes. It helps businesses of all sizes make better decisions, improve performance, and achieve higher ROI on marketing investments.
What Is The Best Marketing Engineering Software?
1. Insider
Review: Insider is a customer experience platform that provides individualized cross-channel experiences through data integration, AI-based prediction, and fast time to value. The platform includes web, app, web push, email, WhatsApp, and SMS channels and can be integrated with the data and tools businesses already use. Insider’s AI-driven optimization capabilities make it a leader in personalization engines, providing individualized experiences that meet customers’ lifestyle needs. By integrating customer data, businesses can create personalized messages tailored to customers across various channels.
Pricing: Request pricing from Insider.
2. Bloomreach
Review: Bloomreach is an e-commerce experience platform that offers solutions for personalized customer experiences. Bloomreach helps businesses create relevant experiences for every customer and buyer, from the beginning to the end of their shopping journey. With Bloomreach’s omnichannel marketing solution, marketers can get a single customer view and build, automate, and measure campaigns in one place, from emails and ads to web and mobile. Merchandisers and traders can create a product discovery experience that shows customers the right product every time, powered by smart AI and the largest e-commerce dataset available.
Bloomreach uses data at the heart of every personalized experience, connecting customer and product data to bring personalization to life across every channel.
Pricing: Request pricing from Bloomreach.
3. Klaviyo
Review: Klaviyo is an ecommerce marketing automation platform that offers email and SMS marketing tools to help businesses drive revenue, increase retention, and integrate with over 300 ecommerce platforms. By using Klaviyo’s behavior-based automations, businesses can earn more revenue, increase customer retention, and avoid spending effort on low-impact emails. Klaviyo’s tools include advanced email segmentation, behavior-based automation, customizable templates, and targeted forms to help businesses grow their email lists, collect data, and target the right people with the right message at the right time. By combining email and SMS marketing, Klaviyo helps businesses recover abandoned carts, promote new products, and earn more revenue per customer.
Pricing: Klaviyo offers a Free version; With paid plans starting at $45/month for Email, and $60/month for Email and SMS.
4. Segment
Review: Segment is a customer data platform that unifies customer touchpoints and enables businesses to collect, organize, and use their customer data to improve customer engagement. It provides a complete data toolkit to every team, activating real-time targeted campaigns in over 400 marketing tools from a centralized platform. Segment also helps businesses standardize their data by aligning teams with a shared data dictionary and providing one API, query in SQL, and deploy custom functions. Segment creates a complete data foundation that is trusted by startups and the world’s largest companies.
Pricing: Segment offers a Free version as well as a 14-day Free Trial with paid plans starting at $120/month for Teams. Request pricing for Business.
5. Fullstory
Review: FullStory provides Digital Experience Intelligence to help businesses monitor their entire digital experience and quickly identify issues or opportunities for improvement in their website, mobile app, or software platform. With their proprietary autocapture technology, FullStory can reveal every issue and opportunity and give businesses insights into how their users navigate their digital products. By seeing where and why users are struggling, businesses can optimize their users’ experience and improve customer loyalty and revenue. FullStory also offers privacy protections and integrates with other data tools to provide a complete picture of the customer journey. The platform is trusted by thousands of businesses and offers real success stories from its users.
Pricing: Fullstory offers a Free 14-day trial; With paid plans for Business, Advanced, and Enterprise.
Marketing Engineering Information
Here’s everything you need to know before getting started in marketing engineering.
What Is Marketing Engineering?
Marketing Engineering is an approach to marketing that uses quantitative methods and data-driven analysis to inform marketing decisions. It involves using statistical analysis and optimization techniques to collect and analyze data on consumer behavior, market trends, and the competition to create marketing plans, develop pricing strategies, design advertising campaigns, and allocate resources. Marketing Engineering is used in a variety of industries and helps businesses make better-informed decisions quickly in today’s fast-paced and data-driven business environment.
Marketing Engineering Examples
Here are some ways of utilizing marketing engineering practices.
Predictive modeling.
Predictive modeling is a vital tool for marketing engineers as it can help improve decision-making, efficiency, customer experience, and risk management. By using historical data and statistical algorithms, marketing engineers identify patterns and make predictions about future events. This helps businesses optimize their operations, provide more personalized experiences for their customers, and make more informed decisions about investments and other activities.
Marketing automation.
Marketing automation is an important tool for marketing engineers as it can help streamline marketing processes and improve effectiveness. It saves time by automating repetitive tasks, improving lead generation by tracking and analyzing customer behavior, enhancing customer engagement by creating more personalized campaigns, and enabling data-driven decision-making through detailed analytics and reporting.
A/B testing.
A/B testing is a valuable method that marketing engineers can use to optimize their marketing campaigns. They create versions of a marketing message or campaign and randomly assign a subset of the audience to each version. Marketing engineers play a significant role in A/B testing as they are responsible for designing and executing the tests, analyzing the results, and making recommendations for optimization. By identifying key variables and using statistical analysis to determine the effectiveness of each version, marketing engineers help businesses to improve their marketing performance over time.
Customer Segmentation.
Marketing engineers are important in customer segmentation, which involves dividing a company’s customer base into groups with similar characteristics or needs. They collect and analyze customer data to identify patterns and similarities among customers, and use statistical models and machine learning algorithms to create personalized marketing messages that target each segment’s unique needs and preferences. Marketing engineers evaluate the effectiveness of customer segmentation strategies over time, enabling businesses to refine their segmentation approach and create more effective marketing campaigns that drive revenue growth.
Multi-channel Marketing.
Multichannel marketing is a strategy that involves reaching customers through multiple channels to create a seamless experience and maximize engagement. Marketing engineers implement and optimize multichannel marketing campaigns by using data and analytics to understand customer behavior across different channels, creating personalized marketing messages, automating and streamlining the process, monitoring, and tracking performance, and maintaining brand consistency.
Learn Marketing Engineering
If you’re considering taking an online course in marketing engineering, you’re making a wise investment in your career.
Marketing engineering is a rapidly growing field that combines marketing, data science, and technology to help businesses create more effective and personalized marketing campaigns.
By developing your skills in marketing engineering, you can gain a competitive advantage in today’s data-driven marketing landscape and make a significant impact on your organization’s growth and success.
An online course in marketing engineering can provide you with the knowledge and skills you need to thrive in this dynamic field, offering the flexibility and convenience of online learning…
Also, It provides you with the opportunity to learn from industry experts and network with other marketing professionals.
Marketing Engineering Courses
- Coursera.org – MBA in Business Analytics.
O.P. Jindal Global University (MBA BA)
More Information - Coursera.org – Marketing Analytics.
University of Virginia
Enroll for Free - Coursera.org – Graduate Certificate in Digital Marketing.
Gies College of Business
More Information
Marketing Engineering FAQ
A. Marketing engineering framework is a structured approach to marketing that combines marketing principles, data analysis, and technology to help businesses create more effective marketing campaigns. The framework is designed to help marketing professionals make data-driven decisions that are grounded in sound marketing principles.
A. Marketing Engineering offers a range of benefits for businesses, including improved customer engagement and loyalty, increased revenue growth, and better return on marketing investment. By leveraging data and analytics, businesses can make more informed decisions and create more effective marketing campaigns.
A. To work in marketing engineering, you should have a solid understanding of marketing principles, data analysis, and technology. You should also be comfortable working with data and have experience with marketing automation and analytics tools. In addition, good communication skills and the ability to work collaboratively with other teams are essential.
A. Some examples of marketing engineering tools and techniques include market segmentation, customer lifetime value analysis, return on investment (ROI) analysis, A/B testing, and marketing automation. These tools can help businesses optimize their marketing campaigns and create more personalized, targeted marketing messages.
A. There are a variety of resources available for learning about marketing engineering, including online courses, training programs, and professional organizations. By participating in these programs, you can gain the knowledge and skills you need to succeed in this dynamic and growing field.
Summary
This comprehensive overview of the field of marketing engineering covers marketing principles, data analysis, and technology to help businesses create more effective and personalized marketing campaigns.
We covered key concepts, software, and tools used in marketing engineering, examples of successful marketing engineering tasks, frequently asked questions about the field and recommended online courses and training programs.
With these tools, marketing engineering can gain a deeper understanding of customer engagement, revenue growth, and return on marketing investment.
Looking to learn more about marketing engineering and enhance your skills in this rapidly growing and dynamic field? Coursera.org offers free enrollment for many marketing data and analytics courses.
