With the opportunities marketing analytics can provide for your organization, there’s no excuse for not using data-driven marketing anymore. Powerful new software makes it easier than ever to dive deep into the numbers and generate insights that your company can use to improve results.
The following articles look at how important a data-driven marketing strategy is, and how to build one at your company.
An Analytics-Driven Culture: Imperative For The Modern Marketer. AdExchanger: “Every organization plans ahead for tech, finance, data and R&D, but few do so for measurement. The same forward-leaning approach needs to be applied to a two- to three-year blueprint for more rigorous measurement. Getting C-suite buy-in on a multiyear plan that includes a testing budget gives marketers the time and resources to enact a learning agenda and deploy the right measurement tools and platforms, instead of flying from test to test. This not only allows marketers to find and validate the right partners, but also to develop their measurement technology ecosystem.”
Act Like A Scientist: 3 Keys To A Data-Driven Marketing Strategy. Business2Community: “Want to know why leads and customers are taking the actions they’re taking on your site? Ask them. Your main goal is to solve for customers by identifying their pain points and digging for solutions, so why not just ask them. Software-based companies often deal with cancellations, and when their data reflects a high amount of subscription cancellations, they need to find out why. One way to do this is to intercept customers with a few survey questions about their experiences just after they have interacted with your product.”
Account-Based Marketing in the Age of Big Data. iMediaConnection: “ABM enables B2B marketers to forget about promoting individual products to as many customers as possible and instead focuses on promoting multiple products to the prospects and customers who have the highest chances of converting, utilizing intent to better engage that audience. This not only increases new sales for B2B companies but can also increase cross-sell and upsell opportunities for existing customers. In fact, ABM can often be a significant factor in expanding existing accounts, for whom widespread marketing approaches would not be targeted enough.”
5 Ways Just About Anyone Should Be Leveraging Predictive Analytics. Marketing Land: “The ‘spray and pray’ targeting tactic is becoming less and less useful as we gain more and more data about who is likely to become a customer and where we can find them. Predicting the probability of an audience to become a customer — and the value he or she may provide over a lifetime — can identify the marketing dollars that are being wasted and focus on high value prospects.”
How Big Data Drives Digital Marketing Success. Loyalty 360: “When it comes to digital marketing, online data is the fuel that drives success and marketers must collect and integrate these online data sets into a marketing database. Marketers may have plenty of off-line data, such as name, telephone number, or mailing address. However, consider that one of the most cost effective types of digital marketing is email. And while email addresses don’t constitute Big Data, industry averages are $40 ROI for every dollar spent on email marketing.”