In today’s marketing world, decisions are no longer guided just by hypothesis and past experience. Influential marketing ideas are now determined by analytics and big data. By utilizing past data and predictive analytics, businesses can now generate better return on investment (ROI) and provide insights that can lead to effective business strategies and decisions within an organization, not just in the marketing department but across teams.
Having The Right Data
Having accurate data is essential for making effective marketing decisions, but having too much data can actually harm your marketing strategy if not utilized correctly. You should start with your key performance indicators (KPIs) and work backwards.
Key performance indicators represent measurable values which give an indication of campaigns’ performance. All decisions for marketing initiatives should have a goal whether it be more visitors to the site, registrations, email collections, click-to-calls, etc. Whatever the goal is, your KPIs should be helping to support the objective.
Knowing Your Audience and Channels
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The best part of having data is being able to know exactly who you are talking to and who you should be targeting in your marketing campaigns. You can track the type of visitors that come to your site and build personas around those who engage to then target other people similar to your current customer base.
You can use data to determine what things your audience interacts with on your site and in your campaigns such as emails and ads. When deciding on audiences to target, you need to determine their intent. This also relates back to having set KPIs to make content decisions that are fitting for your audience.
WRITTEN BY: Forbes Magazine