A marketing strategy of any sort is a good thing to have – even developing a strategy at all will put you ahead of many of your competitors. To be truly successful at marketing, though, your strategy should be based on data and not on just what seems good on paper. There are several ways how to harness the power of data to shape your marketing strategy. The first is to use data about your customers to make a marketing plan. The next is to continually analyze the success of your current marketing strategy, making adjustments when necessary.
Customer & Social Data
Data about your customers is a valuable tool for making and targeting your marketing. With the Internet and computer technology, obtaining and analyzing such data is easier than ever before. Social media is a treasure trove of customer data, offering you everything from general demographic data to the ability to track which customers take the time to interact with you the most often. You can also ask customers to enter their data in landing pages on your website.
Monitoring Success of Various Approaches
One of the most successful ways in which to harness the power of data to shape your marketing strategy is to look at how successful your current marketing strategy is. With the detailed tracking afforded by the Internet and a good data analysis program, you can associate particular marketing strategies with their level of success.
By using data analysis, you can identify your most successful content and strategies. This allows you to put more resources towards what works best, and to alter your strategy in those areas that are currently successful. With so many options for marketing these days, it’s important to prioritize and identify strengths and weaknesses.
Without data analysis, it’s extremely easy to say “This is working” or “This isn’t working” about an entire marketing strategy, when in fact only certain aspects may be successful or unsuccessful.
Successful Data Analysis
Key features of good data analysis programs include:
- Performance and engagement metrics
- Ability to monitor Youtube channels
- Measurement of outbound link measurements and lead captures
- Comparison of individual factors of key marketing areas, such as play counts and completion rates for embedded videos
When performing any data analysis, a balance must be struck between the detailed information you need to make informed decisions, and garnering large amounts of information with so little context and analysis that it’s not useful.