Data analysis is more than just one piece of your marketing strategy; it is necessary for the success of any marketing endeavor. At Craeve & Company, clients often ask how we collect and utilize data to boost sales. Now available in vast quantities from various platforms, data collection from your digital ecosystem is the competitive edge your marketing and sales strategy needs. Interpreting and analyzing the effectiveness of your strategic marketing efforts offers the ability to make sound, evidence-based decisions. Working from anecdotal evidence or strictly on past practice is undervaluing your business. Through a data-driven lens, defining your target audience and understanding how they behave online gives you the power to improve, to innovate. The question is, “where should you start?”
- Create a solid digital ecosystem. It all starts with a solid digital foundation, your website. Be sure to have a fast, secure, and robust website that your end users can visit. Your digital foundation becomes one of your best tools for engaging with visitors and mining information for potential customers. Providing a home base for directing all your search engine optimization energy with content creation development is an asset in the long run. In a few clicks, you can analyze the number of visitors to your site, see where their interests lie, and track their behavior—all this data collection helps your business strategy. As you develop additional resources and platforms like social media, you will soon find you have a complete digital ecosystem at your disposal.
- Deliver a targeted customer service experience. Collecting and analyzing information allows businesses to understand end-users interests and needs better. Open communication channels from targeted pay-per-click ads to email marketing; take the opportunity to speak directly with the end-user. Data collection will further determine interest pipelines if your audience is engaging with your open line of communication and already showing an interest in your brand. Leverage those pipelines in future communications. A tailored approach improves the user experience and creates a connection to your brand.
- Build your database. Providing a free strategic marketing guide, a training session with practical advice, or an electronic book full of best practices is a straightforward strategy to funnel end-user email and IP addresses. Craeve & Company has found database building to be a helpful tactic in obtaining information for our clients. An effective database provides opportunities to reach out to end-users with sales, events, and brand updates, creating another layer of engagement. The attention of your target audience increases retention rates and feeds your sales funnel.
- Don’t forget your social media presence. Building a social media strategy takes time; why not leverage your social media analytic resources. As you establish a sense of trust and transparency with customers through social media channels, engagement grows. Analyzing your social media presence will inform and improve your marketing strategy. Increase your presence on platforms your customers prefer, study the insights into the average buyer persona, and connect with those who interact with your brand. Employing data-driven practices will narrow down the audience you spend marketing dollars on and save money in the long run.
Data analysis is an essential part of a well-rounded marketing strategy. There is a lot to consider when deciding how to use the data you collect. Organizing the information by channel will keep your business on track for retaining the most customers you find through your comprehensive data collection. Keep in mind that federal and state regulations regarding data storage and use of data collection need to be followed. You can find these regulations at the General Data Protection Regulation (GDPR) and CAN-SPAM Act regulation websites.
How is your business currently using data?