Data-driven marketing is the key to remaining competitive in a technology-driven market. To create an impactful marketing strategy, you need to know as much as possible about your customers.
Who are they? Where are they? What do they want? What are their habits?
Analytics take the guesswork out of digital marketing. If you know what data to look at and how to use it to create research-backed campaigns, you can significantly increase the ROI from your marketing efforts by focusing on methods that have proven results.
Instead of casting a wide net, you can focus your marketing efforts to target a specific audience, leading to an improved customer experience, and ideally, increased sales.
Here’s how data analytics consulting combined with data-driven marketing practices can help you cultivate the ultimate marketing plan.
The Benefits of Data-Driven Marketing
Collecting and analyzing marketing metrics can be a time-consuming and labor-intensive process — so what makes it worth it?
Data-driven marketing grants several benefits that aren’t easily accomplished by traditional marketing strategies.
Personalization: In 2016, Adobe found that 53 percent of marketers noted a high demand for customer-centric communication as the main driver behind their marketing strategy. Data-driven marketing makes it possible to deliver personalized content and marketing materials to high-quality leads.
Customer Experience: Key marketing metrics give you the insight you need to truly understand who your customers are and what they want. Using this data to tailor your marketing plan to improve the customer experience can help you stay ahead of your competitors.
Channel Optimization: Multichannel marketing can generate significant results, but only if your content meets the wants and needs of your different audiences. A data-driven approach will help you understand what your highest-performing channels are and how to optimize content for different platforms.
Ultimately, a data-focused marketing approach cuts the fat off of your existing marketing campaigns. Accurately analyzing key data points helps you identify which campaigns and strategies are not producing results and how you can narrow your focus to increase ROI.
How to Create a Data-Driven Marketing Strategy
Understanding the importance of data in marketing is one thing, implementing it is another. How can you use these metrics to create a better data-driven marketing strategy?
Here are a few tips for creating a research-backed marketing plan.
1. Improve Your Website
Your website is key to lead generation and sales conversion. Metrics such as web traffic, user behavior (bounce rate, visit duration), and others can tell you how to improve your website to improve the user experience and encourage conversions. You can find basic metrics like these on your Google Analytics Overview page.
For instance, if you notice a high bounce rate on a specific page of your website, you can update the content to make it more relevant and adjust the UI to more effectively direct the customer to the next step in the sales journey.
2. Solicit Feedback
Tracking a variety of metrics and KPIs is a great way to understand your customers better, but perhaps the best way to do this is to simply ask your customers what they want.
What are their wants and needs? What are their concerns? What is their ideal budget for your product or service?
Online and email surveys can lead to valuable insights from your customers to help drive your marketing strategy in a more focused direction.
3. Perform A/B Testing
Your digital marketing strategy should constantly evolve based on the results you are currently achieving. To do this, you need to frequently collect updated data to reflect your customers’ changing behavior.
A/B testing is an easy and effective way to accomplish this. It lets you experiment with different variables to see how they impact lead generation, web traffic, conversions, click-through rates, and other important KPIs.
A/B testing can be implemented in nearly every part of your marketing strategy, from emails and newsletters to social media content. Based on these test results, you can optimize your content and ads to achieve better conversion rates.
4. Create Personalized Content
Modern data analysis tools enable marketers to create targeted marketing campaigns — meaning content that appeals to customers’ unique needs and helps build rapport with them.
There are countless ways to do this. For instance, you can track when your target audience is most responsive to online communications and schedule your content for these specific times. You can also include data in content to create a more authoritative and trustworthy brand image.
5. Create Channel-Specific Marketing Campaigns
Facebook users behave and respond to certain content differently than Twitter or LinkedIn users might. It’s important to optimize channel-specific content to appeal to your audience on the respective platform.
Are Tweets with images or videos generating more engagements and click-throughs? Which hashtags are effective in reaching your target audience?
You can set engagement and conversion goals for each channel and adapt your content to help meet these goals.
Similarly, you can track website traffic to determine which channels are generating the highest-quality leads. You can then focus the bulk of your marketing efforts on high-performing channels to achieve better results.
Data Analytics Consulting
Implementing data-driven marketing practices is a critical aspect of modern marketing, but it’s easy to misread important metrics, leading to less effective campaigns. Data analytics consulting is the best way to ensure you’re getting accurate insights into customer behavior.