With the word “data” popping up more and more, it’s easy to see that there’s great importance in it. Various tools and systems are now being created to help marketers see the potential and need for utilizing their data. The thing is, according to Teradata’s 2015 Global Data-Driven Marketing Survey “only 50% of marketers routinely apply data-driven marketing to individualize marketing messages and offers to enhance the customer experience.” Companies are now desiring a more accurate view of their business and the ability to analyze company metrics. It’s inevitable that strong data utilization will soon become a part of every profitable business…and it all starts with the data-driven marketer.
Want to become a more data-driven marketer? Here are some key steps to help!
KNOW HOW TO EXTRACT TO YOUR DATA
Are you letting your data fall by the wayside? Do you know where you could pull your lists from all of your source systems? It’s extremely important to be aware of this easy step because if you don’t know where your data is, you can’t use it. You’d be surprised how many people don’t know where their data exactly goes and how to extract it so it can be used effectively. Spend a little time getting to know your data once you pull it. You may be amazed what you find!
PAY ATTENTION TO REPORTING
Every company wants to see its wins and losses. With company leaders constantly asking to see reports and key metrics, access to accurate reporting is key. If your data seems too overwhelming to pull proper reports for you to present to someone if needed, combining your data into one database (ie. customer data platform) will be your friend! Easy to read graphs and charts can make a heap of data make sense. From there you can create goals and the road map for increasing your prospect and customer engagement as well as your company’s revenue.
MAKE YOUR DATA ACTIONABLE
Data’s just data until you do something with it, right? For example, combining all your data to see a single customer view will allow you to create needle-moving campaigns, thus growing your ROI. When your data starts getting complex, it gets confusing on what the best strategy is to market to customers and prospects. Once you have your data in one place, and your reports are accurate, you can start pulling and segmenting audiences. Now your data is actionable. This is where the fun and strategy begins and you’re able to make smarter marketing decisions!
USE YOUR EXISTING DATA
There’s SO much to see from your existing data. Look at your past data and compare it with your current data. You’ll likely notice some differences as well as some similarities. Your existing data can tell an in-depth story of your customer’s purchase journey over time. Not only can you see your customer’s evolution, but you can effectively market to your prospects. For example, lookalike campaigns are easy with existing data. It allows youo to see who your best customer is, then you can find those prospects with similar attributes and create compelling campaigns targeting that new segment.
SEE YOUR DATA’S POTENTIAL
Your data is a gold mine just waiting to hand over the profit to your business. Data has the potential to grow your revenue exponentially and truly change your company. Seeing the cold-hard facts of who your customers are is the key to altering the way you market to customers and prospects. It allows you to see what you are lacking and what you’re doing well. Make a legitimate case to your colleagues to get everyone excited about being a strategic, data-driven company. With the help of your data findings, you’ll be sure to win them over so you can grow your company’s revenue from the inside out!
Want to learn how we can help you become a data-driven marketer and grow your company’s revenue? Contact us!