It seems like we, as marketers, have access to more data than ever before. However, are you using data successfully in your marketing? Along with using data to inform marketing as well as audience decisions, you should be including data into your marketing materials themselves. Data is both powerful and persuasive. In addition, people inherently trust numbers and statistics.
Big Data And Marketing
Big Data is a little bit like a treadmill: it’s easy enough to get your hands on a treadmill however in order to really transform your health as well as your body, you’ve got to actually use it. Many marketers pay for Big Data every single month however they then haven’t got a cooking clue about how to make it work for their bottom lines.
There is no refuting the fact that Big Data has altered the way marketers that think about creating campaigns. From Nielsen to Gartner and IMS, there is no shortage of intelligence to assist brands to strategise. The problem is that most brands seem to make use of Big Data in order to give them an overview of where they are as opposed to a roadmap to get to where they want to be.
Examine Market Research Responses
Effectively interpret data in order to separate the answers by key data points as well as concerns. Market research questions are usually presented with logic as well as fluidity. There are hidden gems within those responses which are able to paint a clear picture of how those respondents actually feel and think. The critical assessment of results leads to more questions, which should be answered before strategy adjustment.
Use Data To Show Your Product Impact
If you work in any product-based industry, including SaaS, you probably have data which shows the impact that your product has on your customers’ lives. You’re probably even already using these claims in your B2C marketing without even realising as is the case if you’re claiming your product will save your customers time or money, or if you say that your product will have a positive impact on your customers lives.
Only Invest in What is Working Well
Perhaps the strategy in business which works the best is to put your money where you know you will see a return. The days of just throwing money at specific channels or strategies – and then hoping for the best – are behind us thanks to Big Data. However, only if you are using your data to understand exactly what is working.
Examine The Relationships Between Each Campaign And Revenue
The best way that you can interpret data for marketing is to track all your marketing campaigns back to revenue. Even in top-of-mind awareness marketing, you will be able to study the relationships between these tactics and direct response. Cost per lead, impressions as well as likes can be leading indicators however success is driven by return on marketing spend.
Understanding marketing fundamentals is key to the success of your business. Learn more by going on our Marketing Fundamentals Course. For more information about this as well as our other digital marketing courses, please follow this link.
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