The days of using marketing campaigns based on hunches and guesswork are over. To remain competitive in today’s market, businesses must take advantage of data analytics to make smarter, more compelling content and campaign decisions. Building better marketing campaigns starts with understanding your customer data and the insights it offers. Here are a few tips for utilizing data to create more effective marketing campaigns.
Make Your Business Goal a Metric
When it comes to data-driven marketing, you should be asking yourself:
- What are your goals?
- How do you measure those goals?
- What questions do you have about your business, and how can data help answer them?
A common mistake people make when trying to get started with data is not having a clear goal. It's easy to get caught up in all the charts and graphs that data gives you, but remember: "What are we trying to achieve?" Isolating the data you need to answer your questions is essential to data analytics. Otherwise, your point will get lost in data and charts. Keep your business goals in mind throughout the campaign’s design, and try setting some ambitious yet realistic metrics for yourself that will tie directly into those goals.
Learn How to Use Data Analytics Tools
Data analytics tools are software that helps you to understand what information is in your database, how it got there, and how best to use that knowledge for marketing purposes. There are plenty of different types of data analytics tools out there: some focus on customer relationship management (CRM), others on predictive modeling or sentiment analysis. But one thing all these tools have in common is that they make it easier for marketers to leverage their available information into better business decisions.
A popular platform for campaign analytics is Adroll and its innovative growth marketing tools. Adroll offers various services and tools for marketers to analyze their campaigns and design optimized strategies based on those data-driven insights. With growth marketing strategies, you can “prioritize small hypotheses, fast experimentation, and rapid iteration over large, long-term campaigns.” These marketing strategies are essential for companies looking to utilize online user data to create effective long-term campaigns. These campaigns can teach the company much about digital interactions, their online consumers, and how users will respond to various messages. Ultimately, they will find out what works and what doesn’t work for their marketing bottom line.
Measure for Success, Not Vanity
You should constantly be measuring the right metrics, not just the ones that sound good. Marketers often tout vanity metrics, such as follower count on social media or website traffic. But these numbers don't tell you much about whether your marketing is helping to achieve your business goals—they're just a number meant to impress people who don't know any better.
Business goal metrics, on the other hand (like sales), can reflect how well your marketing campaign is working and can help inform future efforts. It would be best to choose metrics that reflect what matters most to your business rather than simply those that sound good but provide no real insights into performance.
Tie Data to ROI
Return on investment (ROI) measures how much money you’re making compared to what you spent on your marketing efforts. It’s an important metric because it shows whether or not your marketing campaigns are profitable and, if they're not, where they could be improved.
The difference between short-term ROI and long-term ROI is that short-term ROI measures only the immediate results of a campaign or channel—like how many leads were generated in one month—while long-term ROI takes into account all results over multiple months or years, like how many sales were made after those leads converted into customers. Marketers need to understand both types of return on investment given that most companies operate on tight budgets and need to know which channels are worth investing time in before committing resources towards them full-time. If you’re unsure how to allocate your funds and revamp your campaigns, consider working with a company like Adroll that helps you put data at the core of your campaigns to produce effective results and insights for your company.
Make Better Marketing Decisions Using Data
You can make better marketing decisions by using data and analytics. Data is valuable for measuring the success of your marketing campaigns, identifying where you can improve, and understanding what types of content work best for your audience.
With this information, you can create better digital experiences for users, which is essential for growing a business. Start designing innovative and engaging marketing campaigns based on data-driven insights today to see the boost in your bottom line tomorrow.
