What precisely is data-driven marketing? - Nummero

What precisely is data-driven marketing?

Businesses have been tracking client data driven for decades.

This information was once housed in files in something called a “filing cabinet.” 

Every year, these files were often hastily arranged by various persons, were frequently incomplete, and smelled like your local library.

Hello and welcome to the future.

With today’s technology, we can assemble data to aid in the planning of our marketing activities at the touch of a button. 

The emergence of data-driven marketing has resulted from this technological renaissance.

What exactly is data-driven marketing?

 

Data-driven marketing is a type of corporate marketing in which obtained data is used to direct your marketing activities.

The main advantage of data-driven marketing is that there is no guessing involved. 

Instead, everything is supported by concrete data.

As a result, 67 percent of marketers believe that the key advantages of data-driven marketing are speed and accuracy.

You may then target these clients on an individual basis, generally in a tailored manner, using data-driven marketing.

You may develop automated marketing jobs when operating data marketing campaigns.

For example, if you utilize acquired data to build buyer personas, you may have the appropriate marketing sent out immediately anytime someone from one of those groups asks for information.

As long as you have access to that data, you may personalize their unique marketing, tailoring it to their desires and requirements rather than simply providing the same material to everyone.

Why should your company invest in data-driven marketing?

 

Data-driven marketing is extremely popular in today’s corporate sector since it simplifies the lives of today’s marketers while producing greater outcomes.

The single most significant advantage of a data-driven approach is that you will never again have to make a business choice based on a “gut feeling” or intuition.

Rather than guessing, you might, for example, construct your ideal consumer personas based on data obtained from previous customers.

You can identify where and who your clients with the greatest CLV (customer lifetime value) are coming from. 

You can demonstrate that your product works best with middle-management CMOs at SMBs who are webinar leads.

Knowing this allows you to increase your webinar spending and consider CMOs to be more important leads than lower-level workers. 

This allows for better segmentation and customization, as well as a higher marketing ROI.

This is just one example of how data can remove the guesswork from marketing and assist your company in identifying the finest growth possibilities.

What information should your company collect?

 

You may get a plethora of information from your consumers, your website, and your advertising and marketing activities.

Let’s break down the most important information you should prioritize:

1. User information

 

You may collect a plethora of data from your users when you engage with them.

You can obtain… right from the first touch-point.

IP addresses are used to determine (geographically) where a visitor is coming from.

The first page they view, which might help you determine their interests

Whether they visited your homepage, price page, about us page, or contact us page, all of this information may assist you to determine their purchasing intent.

As these visitors interact with your website, they should be providing contact information via lead forms (assuming you have a marketing funnel in place).

Then, if you’re using a CRM, you can compile all of this data to get a sense of not just who they are as individuals, but also who your average prospect is and the customer path they’re most likely to follow.

You may use that information to construct buyer profiles that depict your ideal customer’s attributes and activities.

2. Website information

 

Your website and how visitors interact with it may provide a wealth of useful and actionable information.

A heat map, for example, is a still snapshot of a page from your website that demonstrates the efficacy of your links, calls to action, and general layout by emphasizing the places with which your visitors engage the most frequently.

Different analytics solutions allow you to track how long visitors remain on your site, where they come from, and even reconstruct footage of browsing sessions:

The term “hotjar” refers to a (heatmaps, click maps, recordings, surveys)

The live session (session replays, click maps, heatmaps, dev tools)

Tableau Visualization Software (site analytics)

Woopra (funnel analytics)

ClicData is an abbreviation for “Clic (website, social media, email, surveys, funnel analytics)

3. Marketing information

 

If you’re doing a pay-per-click advertising campaign, that’s another great area to acquire information about your target demographic.

You may learn a lot about your potential clients by running many ads at the same time and observing which one performs the best. 

This is also known as A/B testing.

It will also reveal a great deal about the search intent surrounding the numerous keywords you’re attempting to rank for and target.

Of course, you won’t acquire all of this knowledge all at once. 

Remember that gathering data requires both iteration and optimization, which means you must repeat the process several times and then optimize based on your results.

However, establishing an iterative data-driven marketing plan (especially with advertising) allows you to remain ahead of altering trends.

How can you be successful with data-driven marketing?

 

Data collection is fantastic. 

It’s like a colossal sundae, complete with chocolate sauce, whipped cream, and sprinkles, as well as a couple of bananas and mounds of vanilla, chocolate, and strawberry ice cream.

Great, but quite inconvenient if you don’t have a spoon (at least if you don’t want to make a big mess of yourself and the table).

The first element of the broader data-driven marketing jigsaw is data.

To be successful with data-driven marketing, you must be able to take action.

Here are a few practical ideas for leveraging data to better your marketing initiatives.

1. Make use of data interpretation and visualization technologies.

 

This post would have discussed tactics for accumulating and understanding data with Excel spreadsheets and a thousand hours of mind-numbing number-crunching ten years ago.

Fortunately, it’s 2020, and there’s an app for that.

There are several amazing platforms available that can gather and aggregate data for you in real-time with the push of a button.

One of tools campaign monitoring template, 

which allows you to examine all of your digital marketing endeavors in one location and evaluate (and visualize) actionable data from their success or failure that can be used in the next campaign.

2. Transform user data into the growth strategy

 

Let’s imagine you discovered in your user data that a substantial portion of your audience is clustered around a certain geographic location. 

You’re more likely to observe growth if you enhance your advertising efforts in that region.

Looking at it another way, following a certain conversion (say, “booked but unattended demo”), you’ve been waiting 3 days before contacting your consumers to see if they want to make a new purchase. 

With this, you’re getting a 19% success rate.

Then you try something different. 

You contact your consumers promptly following their missed demo, giving you a success rate of 25%.

You may quickly detect the pattern and establish that your users are more likely to re-up their purchase if you follow up with them faster if you examine these data insights in your CRM.

3. Convert website data into development ideas

 

What is your website attempting to convey to you?

Assume you’re examining your funnel data and discover that your price page conversion rates have dropped dramatically.

On the page, you run a heat map. 

Nothing appears to be wrong, except that folks are bouncing significantly more frequently than usual.

Then you look at the page’s traffic sources and observe that the decline in conversion rate appears to correspond with a certain top-of-funnel blog piece shifting from page 2 to page 1 for a high-volume search phrase.

4. Transform marketing data into growth initiatives

 

Examine the information you can glean from your marketing activities.

Assume you feel that video advertising will be effective for your key consumer persona.

You launch an aggressive video campaign using social media and YouTube advertisements. 

Then, at the same time, you’re running Google Advertisements search text ads.

It turns out that your video marketing strategy was a complete failure, resulting in a tiny amount of hits and even fewer transactions. 

However, the search advertisements worked brilliantly for you.

This vital data is now showing you that, on average, your audience responds better to search advertisements than to video ads. 

In the future, you’ll be able to boost your ad spend on Google while decreasing or eliminating video advertising.

Conclusion

 

By basing your next marketing effort on statistics, you remove any uncertainty from the equation.

Numbers do not deceive.

And in the world of marketing (where everything changes every 5 minutes or so), that’s a reassuring reality.

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