According to the Data and marketing Agency, 44% of marketers have a data management platform, while 33% are planning on using one in the near future. 68% of respondents to the survey said that improving ROI measurability was the most important goal for their data management strategy, and 33% said data analyses is key to understanding their customers.
What do these numbers tell us?
They tell us that the role of CMO has changed over the last decade. Beyond demographic recognition, CMOs must now be able to deploy integrated strategies that leverage predictive analytics, customer insights and attribution. Data-driven marketing is the key to personalizing your relationships with your customers and growing your business.
With this in mind, here are 5 ways data can improve your marketing:
- Get That Competitive Advantage
One of the greatest things data offers is insight into how you can beat your competitors’ marketing initiatives. For instance, social media analytic tools can help you see how you compare with your competition based on the number of likes and followers.
Another example is search engine data. Tools like SEMrush allow you to learn which keywords your competitors are ranking for and in what position. This data will help you create content around the same keywords and hopefully, outrank them.
- Better Budget Management
The biggest challenge for any CMO is to provide targeted ROI while staying within budget. This is no easy task. But data helps marketers keep their campaigns focused and targeted.
An example is a marketer looking at data to understand that their latest video got very few views. This suggests that, for the moment, your audience isn’t keen on receiving information on that channel and your budget can be better spent elsewhere.
- Leveraging Data for Content Creation
If you’ve spent any time content marketing you’ve no doubt learned one important lesson: in order for your content to convert, it has to be relevant and valuable to your audience. Anything less is a waste of time and money.
Smart marketers look to their data to see what content is getting the most hits and which is converting. They can then create new content around this information. While Google Adwords can help you select the best keywords, Google Analytics will track and measure how your content performs.
- Personalized Lead Nurturing Campaigns
How do you create loyal customers, the ones that give you their money month after month, and year after year? You make them feel important and value the relationship.
How do you do this? Through personalization.
Data discovery can help you understand exactly who is visiting your website, how long they stay on a page, which lead generator they sign up for, etc. Through cookie tracking, you can serve up personalized ads that match their demographic profile, location, and interests.
- Effective Layouts Leads to Better Conversions
Those marketers with the best conversion rate consistently test their ads. All landing pages, pop-ups, product images, headlines, subject lines and the entire layouts of webpages are A/B tested over and over again. Collecting and analyzing this data, and then making the necessary adjustments, can improve results exponentially.
These are just some of the ways marketers can use data to focus their marketing efforts and get the best ROI possible. Data analytics can be your secret weapon in getting the upper hand on your competition.
But, without having the right tools in place, this data can seem more like a group of random numbers, offering little insight. This is where a professional media planner can help.
If you’d like assistance gathering and leveraging data, contact us today. We love helping clients find innovative ways to adapt and thrive in an increasingly complex marketplace.
