More than ever, today it’s vital that companies understand the who, what, where, when and how of their marketing efforts. However, it’s not uncommon for a business to feel that once a marketing campaign has been even somewhat successful, those results are good enough. They may not exactly know what worked, but as long as it garnered some positive results, they take that as a win.
What is Data-Driven Marketing?
Data-driven marketing is the process by which companies use analytics and information to get insights about their current campaigns. By analyzing data, they are able to make smarter decisions about what their customers really want, which in turn can ultimately increase their bottom line.
However, there’s an overwhelming amount of data out there these days. Impressions, click-through rates, email open rates, website visits and page views, and so on. It does take some time and effort to get some sort of tracking system in place, but we promise you that it’s well worth the labor. Once you have a system in place, you’ll find you only need to spend about an hour of your time every month analyzing the results. The most successful companies are well aware of their numbers, utilize them to make smart marketing decisions and maximize their ROI.
A few of the other benefits of data-driven marketing? Your company will know what customers are engaging with your brand, as well as when they’re most likely to engage. You’ll know what messaging is most effective by doing some A/B testing. Finally, you can also make sure your marketing campaigns are providing the best customer experience possible.
Want to learn more? Listen to our recent podcast on this very topic:
Original podcast notes: When taking on new clients and as part of the discovery process we always inquire about past marketing campaigns. Today Liz gives us insight into what she looks for during this discovery and why it’s an important part of starting a client/agency relationship off right.
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What’s makes small business marketing so hard? Trying to keep-up with the ever-changing technology and the limited attention span of your target market.
And it’s only getting more difficult. What works today might not work tomorrow.
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