Why is it that the word ‘Data’ drives fear into the hearts of so many marketers?
Marketing is all about communicating with people, right? So, why, as a marketer, should you have to deal with data and reams of numbers scrolling down a screen? The reason you most likely entered the field of marketing in the first place is because it dealt with real people, and not abstract figures.
For as long as the profession has existed, marketing has been viewed more as a ‘right-brained’ activity, and a career that requires more creative thinking and less mathematical reasoning. Then along came CRM, and it brought with it a host of number-based methodologies involving stats, value segmentation, and predictive modeling.
It’s enough to give any right-brained marketer a massive migraine. (And that’s without factoring in the inevitable collaboration with the IT department!)
But let’s consider changing the way you think about data. If you’re in retail, what if, instead of picturing reams of numbers scrolling down a screen, you pictured a crowd of people standing in a shopping center? Or if you’re in sports marketing, you picture spectators in a sports stadium. Working in marketing for an online casino or poker company? Then visualize players at the poker or blackjack tables.
Because if you take a minute to think about it, in reality, that’s what those figures actually are. Each abstract number represents a real person, with real passions, real preferences and real purchasing power.
When you start thinking about people – instead of numbers – you will free yourself from the crippling effect fear of data can have on your marketing efforts, and instead begin to embrace and enjoy the very real benefits that data can deliver to your business.
If, for example, you were in the business of selling a product or service, we wouldn’t begin by looking at your books. Instead, we would ask people-based questions relating to recency, frequency and monetary value. We pose questions such as, “Who is buying your products?”, “When did they last shop with you?”, “How often do they shop at your stores?”, and “How much do they typically spend?”
Once we have an insight on these basics, we can start to understand which behaviours need to change, and which need to be reinforced to accomplish certain goals. We also begin to build a profile of your most valuable customer segments, or those with the most future potential value, in order to determine where to focus marketing spend now and moving forward.
This might sound simple, and like common sense really – but getting started is often the hardest part of implementing a data-driven strategy.
At Digital Fuel, we can help you to run marketing campaigns that are shaped by facts derived from analytics and reporting. We’ll ask a variety of questions and take an overview of what is currently working for your business.
Breaking things down into their easiest form often helps us to understand not just who our target market is and who we’re talking to, but also why we’re talking to them, how we should talk to them, what we want them to do, and how we’re going to motivate or inspire their action or change in behaviour.
We’ll run A/B Tests to take the guess work out of your offers. For example, what tweaks should we make to reduce churn?
Then once we have your strategy in place, we’ll do the data heavy-lifting to create your market segments, build predictive models, and analyse results. We’ll report on the effect of the A/B Test, and make informed recommendations to make your campaigns work harder for the bottom line of your business.
These are the results that your creative team will use to generate meaningful, relevant communications. But they can only do this if they understand them. The richer and more accurate the data, the clearer the insights, the better the magic.
Data should be your informer, technology your enabler, but insights linked to human behaviour should always remain your driver.
At Digital Fuel, we can provide your business with a clearer picture. We are not afraid of data, and we’re able to translate numbers into useful insights about your customers. We have the expertise to answer the questions that you need to be asking of your business:
- What is the impact of the above-the-line activities on digital marketing?
- What do we have to do to reach our sales and acquisition targets?
- What is the maximum keyword bid I should be paying?
- What keywords are driving my customers further down the sales funnel?
- What keywords or display campaigns are driving existing customers and prospects to my website?
- What post impression windows should we have on campaigns?
Shall we operate a last-click-win marketing strategy or develop an alternative attribution model? Where do we need to spend more money, what will be the return and when will we see the return on investment? We love nothing more than delving into the numbers and finding the true value of your marketing campaigns to ensure maximum benefit, and to advise on how you could be squeezing even more return on investment from your activities.
Get in touch with us here to see how we can help you squeeze more bang out of your buck today!