5 Ways to Use Data-Driven Marketing
Written by Courtney Raguso, Social Media Content Creator
Data beats emotions. That statement comes from the founder and CEO of Tinder, and it couldn’t be more true. Why? Because data is the one thing that you can be certain about. Numbers don’t lie, and they can be used to your advantage to help give you better, more accurate insight into the performance of your marketing campaigns. They also help you determine more cost-effective ways to plan ahead and figure out when next steps you might need to take based on your current findings. For example, if you’re assuming that the reason your website is losing traffic, it might not be because of your Google ad spend and instead might be because of slow load time on the homepage. With the right data, you can create measurable results. However, the challenge business owners often face is being able to interpret the data and prioritize which findings are most meaningful to make the right judgment calls in their optimization strategy. In fact, brands lose up to 20% of revenue due to poor data quality practices. Today, we’re going to discuss 5 ways you can properly utilize your data in order to determine your performance and what next steps you should take moving forward. Let’s begin.
The first strategy we want to touch on is using demographics in your campaign planning. This type of data refers to socioeconomic statistical info that includes factors such as age, race, ethnicity, gender, marital status, income, education, and employment of a population. There are tools such as Google Analytics that can help gather data such as user behavior and demographics. So for example, you can track your website performance and see how people interact with your content, which pages they visit, where they’re coming from by just installing a tracking pixel or looking at the data gathered from Google Analytics. Once you have a better understanding of the type of consumers that are interacting with your content, you can then create more contextual and relevant content and target them better moving forward. The second strategy we want to shed light on is to use cross-channel marketing. Consumers now these days are using multiple channels to shop and browse content, and if you aren’t covering all your bases, then you are missing out on a lot of data. Maybe once you realize after testing out a handful of channels, only ¾ really work for you, but you’ll never know unless you try it first. Plus, when you’re just starting out, you never want to start on a blank slate. That’s why we always stress testing and research because when you just plan your strategy based on assumptions, you can really be losing money and have a less cost-efficient strategy. By diversifying your content strategy, you’re not only opening yourself up to a wider audience, but you’re also building brand recognition and authority.
Another data marketing strategy we think you should be pursuing is measuring your success as a series of smaller steps. Doing this helps diagnose issues and help explain trends more easily. So let’s say you’re just starting your campaign, what you’ll want to do is monitor every step the user takes, so you can optimize as you go. Creating a sales funnel provides a series of steps the user needs to take to convert to a customer and knowing at which point they opt out helps you understand what needs to work. Maybe you need to cut back on the number of steps users need to take on the path to conversion, but you won’t know unless you look at each step taken. The fourth strategy focuses on digging deeper instead of casting a wider net. Using PPC to get more from your email list will increase the probability of users noticing your content. Studies have shown that email can deliver the highest ROI because of added touchpoints that are available for you to use. For instance, you can use email to retarget users that have been unresponsive or abandoned their cart. You can also utilize Facebook to create more personalized campaigns that followed up on the link the user clicked on. Also, if you layer 3rd party event data as custom audiences on Facebook and Twitter, you can send targeted messages by matching their email. Doing this will help you target the right people.
Lastly, you’ll want to assess and monitor any changes in your industry including new trends to see how they affect your campaign. We recommend planning your CPCs, CTRs, and average positions 30-60 days before the date of the change to the current date. This is when you should start looking out for new trends and any changes over time including your competition to see how they may have impacted your cost per click and conversion rate. This process will help you pick up on any abnormalities and red flags before they become a bigger problem, so you can be more proactive with your marketing moves. Data-driven marketing isn’t an overnight process and takes time to test and optimize. It’s about digging deeper and exploring the meaning behind the numbers and using it to be more efficient. Without data, personalizing your marketing to get the growth you need would be near impossible. A recent study has shown that 80% of consumers depend on personalization before they are willing to purchase a product or service. If it’s not relevant to them, they won’t take an interest. Understanding data can feel overwhelming, and it’s easy to get lost in it all, but that’s why we have experts to help. If you’re looking for help in this area, we can ensure data-driven results that will make a real impact on your return on investment.
At MSM DesignZ, we put in the time and energy needed for success, so you can ensure you are using every dollar for maximum return. With over 20 years in the business, we have watched marketing evolve from traditional to digital. Whether you need a website refresh, more attractive email, or a quality online presence, we can do it all. When we take on a client, we put in 110% and treat every brand as if it’s our own. We will always continue to place our clients’ needs at the heart of our operations. From web development to social media management, we’ll work directly with you to build a personalized strategy to not only retain but also gain business. We are assisting in all areas for our clients. Visit our contact page at https://www.msmdesignz.com/contact/, and we’ll work with you to devise a custom plan that will keep your brand alive and well. We look forward to working with you!