All marketers say they are – or want to be – data driven in their decision making.
They want to base strategy and spend on solid facts about which campaigns work and which don’t. They want to make changes to their websites and other digital properties based on a crystal clear understanding of how customers behave and interact while on those sites. They want a rock solid connection between key performance indicators (KPIs) and the data that confirms the success or failure of their goals. Unfortunately, most marketers are not making data-driven decisions on a regular basis. To be a truly data-driven marketing department, your team will likely need to leverage data from a number of systems (CRM, e-commerce, marketing automation, etc.), but it’s essential to have a strong foundation using digital analytics. Digital analytics – ideally tracking a comprehensive mix of Web, social, app and other digital properties – provide accountability for meeting goals and give visibility into the all-important customer interactions with your company. And it’s not just about having analytics anymore. Today, it’s about collecting the right data for your business, having the right processes in place to analyze and share that data, and being able to quickly turn insights into action to reach your goals. That’s easier said than done.
Below are seven warning signs that you’re not using analytics to boost your data-driven marketing – and some ideas for how you can avoid or overcome them. Warning Sign #1: Measurement isn’t part of your marketing planning process. Your team spends countless hours developing new content, planning innovative product launches, setting up new advertising campaigns, and the like. If the initial planning sessions for those efforts don’t include a discussion on how to measure success with data, there’s trouble on the horizon. The downfalls of not planning for measurement until a new campaign is launched are steep. Let’s say you’re a B2B company and you deploy a new landing page with a whitepaper (goal: lead generation). You’re planning to spend a good chunk of budget on promoting that piece of content through channels such as PPC, paid social and banner ads on key publication sites. If you didn’t determine a measurement strategy up front, how will you know which channel drove the most (quality) traffic and the most leads? How will you measure success and make more informed plans next time?
Solution: Data-driven marketing requires a culture of measurement – it must always be part of the conversation at your organization. Sure, it’ll take time, but it is the foundation for building future success. You can get started by: • Identifying the areas to measure that will help your team get the most value and insight. Start by asking what is most important to your business. In addition, look at the areas where decisions are being made without data. Prioritize those areas that fit both.
Source: Website Magazine