Marketers have known for a long time that customer data can improve service and performance. However, there have been several hurdles to prioritizing data-driven marketing over traditional approaches.
For starters, data collection almost became a dirty word, with GDPR and the uncomfortable idea that customers and their activities were being tracked. A balance had to be found that appropriately appreciated the value of consumer trust by using data to benefit customers with personalization, improved service, and anticipated needs
The second hurdle is that most data sets are incomplete, which means an accurate picture can’t be achieved. To solve that problem, more data needs to be obtained, which leads to another issue. Collection and management can quickly become unwieldy, meaning that marketing teams are working harder than ever to achieve their results.
Fortunately, as usual, it’s software (and experts) to the rescue. Instead of working harder, you can work smarter to use your marketing data more effectively. Read on to find out how.
What is Data-Driven Marketing?
Data-driven marketing means basing your strategy on quantitative information that you’ve gathered about your audience. It differs from traditional approaches, which often rely on assumptions about customer behavior.
Using data in marketing means you can be more targeted and more sure of your results. It means you can anticipate future trends through predictive modelling, anticipate customer needs, use the appropriate platforms, optimize campaigns and provide better service.
If that sounds too good to be true, it’s beneficial to consider the challenges that come with this approach. They include issues with coordination, out-of-date information, and a lack of knowledge in using data-driven marketing effectively.
Tips To Work Smarter Not Harder With Data Marketing
To reap the benefits and overcome the challenges, you can tailor your data-driven marketing approach with these tips.
Effective Collection and Processing
An obvious but fundamental element of using data in marketing is collecting it. Randomly collecting any information that you can lay your hands on will create more work, which will ultimately prevent you from seeing the results you want.
Consider obtaining data from several sources; not only will this add to the richness of your data, but it will also make it less likely to have gaps and errors. It also helps you approach the data with a better understanding of any biases.
When it comes to processing, you’ll need a computer and some software to make sense of your raw data. It should be organized in a way that makes it valuable. That means being able to compare, find patterns and build a picture.
Collect and Analyse With A Goal in Mind
A well-organized database full of complete information isn’t enough. Even if it has been processed in a way that you can analyze it effectively, there’s a way to work smarter. To put your data to good use, you need a goal to know when and where to use it in your strategy.
The goal can influence your data collection, but most importantly, it’ll set the parameters for your analysis. Goals need to be specific, such as identifying particular segments of your audience for growth, identifying a new platform to test, or increasing footfall in a particular location.
Don’t Go It Alone
If you don’t have a data team on hand, then don’t shy away from consulting the experts or at least working with a tool that will integrate with your platforms, collect data, and process it for you.
In terms of software, Funnel is an alternative to Supermetrics, both of which are marketing data tools. It connects with over 500 platforms and lets you sort your data based on your campaigns. It’ll make it easier to discover trends, which will have you creating a plan of action much faster.
Evaluate and Repeat
Customer data isn’t the only information that will inform your marketing approach. Using metrics to track the success of your campaign will help you plan the next one. Crucially, you’ll need to pay attention to how the data helped, which platforms, and at which stages you captured the most useful information.
Don’t just look at what went well. Some of the most valuable adjustments for your next campaign will come from those that didn’t respond; any correlations can help you identify how to meet your goals better.
If you know that you need marketing data but aren’t sure how to start using it, ensure you take a considered approach. Getting some help, making some strategic decisions regarding collection, and having specific goals for analysis will help you work smarter and save hours of hard work and frustration. After your first attempt, remember to gather data to review and refine your approach.
Follow Techdee for more!