Are you thinking about using data-driven marketing?
If you are, you’re not alone. Over 40 percent of marketers have a data management platform, and over 30 percent are planning to create one.
Data-driven marketing is one of the best ways to learn how to please potential buyers. And because the strategy is relatively new, it can be a great way to blow past your competition.
But knowing how to get started can be difficult. Especially as a business owner, it can be a time-consuming process to learn how to make it happen.
Lucky for you, this article is going to tell you everything you need to know about data-driven marketing. Soon, you’ll be ready to use this strategy for your business.
Read on to learn more!
Know Your Why
As with any marketing strategy, you have to know why you’re doing what you’re doing. Without a clear purpose statement, the data you find won’t be much use to you.
Keep in mind that data-driven marketing will work for every type of industry. No matter what your business is, data could help you make better decisions.
How useful this data is depends on your industry. Some industries might find more use out of online data than others.
For example, if you run a restaurant, most (if not all) of your sales are done inside your business. But, if you have an eCommerce site, all of your sales are online.
Naturally, this means, that the eCommerce site could find more use out of this kind of data. Plus, it would be easier for the eCommerce site to use CRMs and the like.
Take some time to write down your specific mission statement for learning more about your data. Specific is the keyword here.
Instead of writing, “Learn more about user experience on our website,” write, “Use data from a UTM to grow our website traffic by 20 percent.”
Know the Target Audience
Speaking of specifics, you need to know who your target audience is. Of course, this is important for general business, but it has some implications for data-driven marketing as well.
Your target audience will determine what type of data you need to find. For people with an older target audience, data from social media may not be as relevant as click-throughs on a contact page.
Being clear about your target audience will also give you a better idea of how to implement the data you find. Why?
Your target audience should be the main amount of traffic you receive online. But you will also get interactions from people outside of that group of people as well.
You shouldn’t ignore interactions from other people altogether, but they shouldn’t drive your decisions. Focus on how your target audience is engaging only.
Assemble Your Heroes
Before you get started, you’ll need to make sure that you have all the important people on your team. They’ll make sure that your data will be used well.
You should at least have an IT professional, a statistics expert, and a marketer. More can be helpful, but you should at least have those three.
This will ensure that you are getting as much information as possible. Let’s break down what these people should do.
- IT Professional: The IT professional should implement all the programs or coding to make sure you can find the data you need.
- Statistics Expert: Oftentimes, the marketer is the statistics expert as well. If you’re lucky, this person will be able to tell you exactly what you found out from your data. They should be able to identify trends as well.
- Marketer: This person tends to oversee both the statistics expert and the IT professional. They should also create the goals of the data-driven marketing campaign and decide if those goals were met.
Using what the statistic expert says, the marketer will decide how to use what they’ve learned to make changes.
Sometimes, especially if you are a small business, you or someone else on your team will play all three roles. If that’s the case, make sure to do some heavy research on each position.
When you start tracking your data, you need to look at regular measures, but also, make sure to find unique types of data. Of course, you’ll want to know simple things like site traffic and average tweet engagement, but don’t stop there.
You also will want to be able to track the way people interact with your website. Get specific with the way you measure this interaction. If you know what you’re looking for, it will be easier to track.
Make sure to look for data that your competition isn’t looking for. If you can find a unique form of measurement, you might be able to beat the competition with it.
For instance, a restaurant might be able to find a way to track what specific people buy with a CRM. This would put them ahead of their competition and allow them to curate their menu.
After you’ve found your data, you should be ready to start making choices for your business. Make sure to look at trends instead of one-off successes.
Whatever topic you researched is what you should be able to make decisions about. Don’t make the mistake of using data for something it wasn’t made for. If you do this, you might find that your marketing efforts actually worsen.
If you researched website engagement on the homepage, you should make decisions about that. Don’t try to use that data to make decisions on Twitter.
Of course, some data can have other implications, but you should make an effort to find raw data before assuming too much with your findings.
After you’ve implemented changes you found from your research, don’t let this information sit stale. It’s unlikely that your data from three years ago is still relevant today.
To combat this, you should regularly run audits to make sure what you’re doing works. Audits should come a few times a year, depending on what you’re auditing.
Just because you can do an audit doesn’t mean you should though. If you are constantly looking for ways to change things, your site and brand won’t stay consistent. Too many changes might start to confuse potential customers.
Work with a Team
Data-driven marketing is great, and if you’ve read everything that has been said so far, odds are you probably want to get started with it too. But taking the time to learn how to use data might be a little less appealing.
If you are a business owner, you might not have the time to add marketing to your plate. Even as a marketing manager, there’s plenty of other things going on that you have to worry about.
To lessen this stress but still get the benefits of data-driven marketing, consider hiring a team to manage it for you. This lets you get back to doing what you do best.
As professionals in data-driven marketing, these groups will be able to do data-driven marketing better than your employees could. They often have marketing degrees or significant experience in the field.
Looking for More About Data Driven Marketing?
After reading this article, you should be ready to get started with data driven marketing. If you do it well, your business will see an uptick in traffic, leads, and consumers.
But here’s the thing: you don’t have to do this on your own. Contact us today, and we can get started building your data marketing strategy.