Tags – Turning Data Into Marketing Strategies
Do you ever feel like you’re swimming in a sea of data, but not getting anywhere?
You’re not alone.
In fact, most businesses feel that way.
And you can have all the data in the world, but if you can’t make decisions that have a measurable impact, this will all be useless.
The good news is that there are ways to turn all that data into useful insights-driven marketing strategies.
In this blog, we explain the difference between data and analytics, how data drives marketing success and how to transform data into insights-driven marketing strategies.
The Difference Between Data and Analytics
There’s not a lot you can do with raw data.
You must first figure out how the data translates into insights and then convert them into concrete actions in order to obtain genuine value.
Marketers require a method of interpreting and comprehending the many data points and metrics that pour in.
Analytics aids marketers in finding the narrative behind that data.
And data requires analytics to transform it into something valuable for the company.
Analytics is a data-mining tool that sits on top of your data and aids you in extracting knowledge and insights from it.
For example, by highlighting trends in your data and overlaying alternative viewpoints, you can analyse, compare, and identify actionable marketing tactics for your campaigns.
Bringing data and sound analytics together helps you become a data-driven marketer who is deliberate in their decision based on facts.
How Data Drives Marketing Success
Today, we have access to sophisticated technology that collects and analyses data and delivers smart marketers with the insights they need to make the greatest decisions.
Small and large businesses agree that it’s critical, implying that implementing a data-driven marketing approach is well worthwhile.
Here’s how data drives marketing success:
Enhanced Customer Loyalty
It’s critical for your marketing strategies to have a high-definition perspective on your consumers and target audience.
Data analytics allows marketers to really understand customer preferences and behaviours.
They can anticipate consumer actions and identify real-time possibilities by combining predictive insights with closer engagement with their customers.
As a result, you’ll be able to build more-detailed and highly accurate customer personas that influence your marketing strategies and business objectives overall.
Essentially, these insights allow marketers to target the right people with the right message at exactly the right time.
Scale Stronger Connections
Clarity improves your customer connections significantly.
It goes even further, though.
Businesses may deliver a more personalised experience to a far greater number of people by accurately matching a customer’s engagement and expectations.
Consider a firm with only a few clients providing the type of personal interactions and customer experience it offers. Their customers will get—and perhaps demand—a personalised, highly responsive service.
However, when that same company expands its operations, keeping such a high level of individualisation is difficult.
Marketers can provide the same experience to a much larger audience by using the appropriate analytics.
The amount of data available from platforms, devices, and social media networks allows them to tailor their messages and deliver a great customer experience at scale.
Identify New Opportunities
With the appropriate analytics in place, data may help you discover significant opportunities that you wouldn’t otherwise notice.
Insights such as pain points in the customer experience or buying jitters can lead to process improvements or even create new solutions.
When you know your target audience’s preferences and behaviours, you get more chances to up-sell and cross-sell.
Insights into your consumers’ online activities aid in the selection of when and how to target them with that one unique offer that provides the most value to them and your company, directly impacting your cost to serve and customer loyalty.
How to Turn Data Into Insights-Driven Marketing Strategies
Now that you understand some of the benefits of data driven marketing, here’s how you can use it for insights-driven marketing strategies.
1. Use Data to Set Goals
It is critical to have distinct goals from the start.
These goals can help you figure out what you want to achieve, making it easier to come up with the ideal strategy to get there.
Take a hard look at your company’s present data.
Figure out what you’re lacking and how you can best fill those gaps, as well as make sure that everyone within your organisation who may contribute is aware of the current resources and constraints.
Collaborate with them to develop a route map for getting where you want to be.
Remember that your marketing and business goals should not be created out of thin air.
This is why you do research so early on in the process. You use what you have right now to figure out what’s possible.
In case you’re just getting started, concentrate on figuring out how to get data so that you’ll have something to build upon in the future.
2. Use The Right Tools
Tools play a large role in obtaining data that will help you make the decisions you want to make.
The way people use your website and social media, as well as the effectiveness of your email campaigns, all rely on the tools you employ.
It’s crucial for a data-driven marketer to get accurate data points and convert them into insights.
A good CRM that focuses on marketing automation and data collection is crucial to any data-driven strategy.
Choosing a solution that takes advantage of automation allows your marketing team to concentrate on the big picture.
Of course, your CRM should include sophisticated data gathering techniques so that it can help your marketers identify future campaign efforts based on existing trends.
3. Personalise Campaigns
Being a data-driven marketer means having complete clarity about your customers.
You can personalise your communications by knowing their preferences, behaviours, and communication style; a personalised touch is significantly more effective than a general catch-all campaign in any situation.
But don’t stop there with marketing communications. These findings also provide tactics for segmenting and customising each phase of the sales funnel.
Consider how you might use a product or service to appeal to your consumers’ particular demands or problems.
With enough data and the appropriate analytics platform, you may go from a marketing status quo to a campaign that amazes your prospects and converts them into devoted customers.
4. Leverage Marketing Automation
Because there are so many data points to consider across multiple channels, data-driven marketing might appear intimidating.
It’s overwhelming, but it’s critical, and there are tools to make the process more manageable.
And every data-driven marketer should utilise marketing automation.
Marketing automation tools allow you to delegate the time-consuming tasks associated with data-driven marketing, and offers benefits like:
- Better lead management
- Increased conversion rates
- Better collaboration between sales and marketing teams
- Increased efficiency and reduced staffing costs
For instance, marketing automation can help marketers create workflows that send out the optimal messages based on a prospect’s behaviour or action.
Instead of wasting time performing manual tasks, automate these events and chores so that marketers may focus on analysis and optimisation instead.
More significantly, it allows for optimal communication times based on your consumers’ demands rather than when the marketing team is in the office.
Your marketers conduct the analysis and come up with the finest solutions; the platform takes care of the rest.
5. Keep Gathering, Analysing, Measure and Improve
The more data you collect, the more insights you will have.
So, continuously growing data – be it through added channels or making the data you’ve already collected more clear – it all plays a role in insight-driven marketing strategies.
Here, you’ll want to think forward about the decisions you may make later, and the type of information you can gather about your potential customers.
Ultimately, the more data you have, the better tailored experience you can provide.
Furthermore, you must measure your marketing efforts and think of ways to improve – leverage data and be sure your marketing strategies are not just created by pot of luck – they’re actually backed by informed decisions and real data.
Rounding Up
Hopefully now you can see how you can fine tune your action plan to turn data into actionable insights and increase revenue for your business.
The most important thing to takeaway, is to always have your end users in mind, not an algorithm.
Want to know more? Please get in touch today.
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