Data-Driven Marketing: Powerful Strategy Fueled by Facts
Data is the heart of every successful marketing campaign, right? Actually not. It’s the quality of the data that counts. Just because an astronomical 1.7 megabytes of new information is created every second for every human on the planet, that doesn’t mean it’s accurate or usable.
True data-driven marketing is based on the analysis of data collected from a brand’s every consumer interaction and engagement. Insights from the data are translated into actionable decisions that answer the demands of your customers and provide a more customized experience. Quality data gives you the power to base your actions on facts, rather than blindly guessing what your customers want or need.
When properly planned, tracked and executed, data-driven digital marketing campaigns are an excellent learning source, providing valuable information for future campaigns. So, if you’re looking to use data to execute smarter campaigns, keep these five best practices in mind:
1. Take a hard look at your house file. If you’re like most brands, you’ll use a significant percentage of your budget marketing to customers you’ve already acquired. These campaigns will typically be your most profitable, so before you roll out a new campaign, ensure that your house file data is clean, accurate and complete:
- Hygiene your data every six months, appending email addresses, demographics, social data and more
- Foster regular engagement via multiple channels with all active customers
- Develop a strategy for addressing lapsed or unresponsive segments
2. Segment your most profitable customers. You already know that not all customer value is created equal. Your high-value segments are your most important assets, so treat them as such:
- Consider an exclusive offering that will resonate with the target audience
- Create content that addresses their specific needs
- Use them as a model for acquisition strategies
Not certain of your best segmentation strategy? Or the unique attributes shared by your most profitable customers? Try this free data profile analysis tool to run a sample of your house file, and get back valuable insights from d3 specialists.
3. Target smarter. Seek out new customers who are similar to your most valuable segment. Understand what data attributes are unique to them, and leverage those elements when targeting:
- Model data off your best customer segments
- Find third-party audiences who match this model
- Engage with targets via multiple channels, such as email, postal and third-party display
- Create social media custom audiences, too
4. Maximize your opportunities for success. By collecting data at different touchpoints, you can predict behavior patterns, make real-time marketing decisions and establish clear and measurable goals to gauge your success. Try implementing the following:
- Set up and integrate tracking prior to the first launch of a new product
- Develop a compelling offer that incentivizes customers to make a purchase
- Consider making your offer redeemable across channels
- Create a well-designed landing page with tracking by source
- Use matchback for attribution, if available
5. Measure, evaluate and modify. If properly rolled out, data-driven campaigns can reveal your biggest sources of traffic (and revenue). But to facilitate constant improvement in your campaign, don’t make assumptions. Identify the metrics needed to determine success, test your data and use the results to improve your strategy. For example:
- Compare different marketing channels and their conversion rates
- Use different subject lines or article titles to see how the results stack up
- Switch up a hyperlink for a sign-up button to compare their effectiveness
- Tweak your CTA to see what gets more clicks
Digital marketing success is faster when fueled by facts
Data is the driving force behind your marketing. By implementing strong, data-driven marketing plans, you can take the guesswork out of your efforts and create a marketing strategy that resonates with your customers — and benefits your ROI.
For the smartest data, you need a strong partner in your corner. The d3 digital marketing agency team can help. Reach out today or call (201) 865-5800.