Data-Driven Marketing Strategies for Sustainable Results
- Jeffrey Agadumo
- May 16, 2022
Warning: Reading this article till the end might help you achieve more sustainable results in your data-driven marketing campaigns; therefore, viewer attention is advised.
What should you be expecting in this article…? How to harness the power of data analytics to get sustainable results in marketing. Stick around; there is a prize at the end of this article.
With that said, let’s dive right in.
Is It a Bird, Or a Plane?
Colorful flagship product marketing, extensive win-back email campaigns, and broad-ranging lifecycle marketing strategies; There is no shortage of exciting activities that marketing teams use to engage potential customers.
But exciting and engaging as they are, these activities mean little to business owners or C-level executives if they don’t produce successful and sustainable campaigns.
Did you know, according to Invesp, that businesses that employ data-driven personalization deliver 5-8x the ROI on marketing spend?
Successful campaigns heavily hinge on data-driven marketing.
Data-driven marketing collects and uses customer information to inform and optimize marketing decisions.
Every marketing activity produces data. Marketing teams rely heavily on this data to make critical campaign decisions and reach consumers by personalizing every aspect of the marketing experience.
You use the data to make predictions, run tests, and optimize your marketing activities to match your consumer’s specific needs.
Highly personalized consumer campaigns drive up your ROI by targeting the right customers and making media buying more efficient.
The formula is like this: successful sustainable marketing campaigns are data-driven, and data-driven campaigns lead to personalized marketing, which increases sales & conversion.
So no! It’s not a bird or a plane; it’s a successful marketing campaign!
What Do You Do With All That Data?
You analyze and create reports, of course!
Data analytics in marketing is interpreting data, drilling down to information essential to your campaign’s bottom line, and using the information to create metrics that measure and improve the outcome of marketing campaigns.
Usually, the challenge is that data volumes are ever-growing, and this sometimes increases the time it takes to get actionable metrics from your data.
To therefore analyze data correctly, you will have to:
- Follow guided analytics procedures to avoid endless unproductive data analysis.
- Find the best data collection and analytics tools to track and forecast campaign performance.
Actionable Guidelines for Efficient Marketing Analytics
It is an increasing concern for marketers to reduce the Time To Value when data collected is extensive,
especially if the data collected is from multiple marketing channels or campaigns.
Employing guidelines in your data collection and analytics procedure might reduce the time it takes to generate critical insights and reduce cost.
Below are some simple guidelines:
1. Stick to the marketing objectives:
You want to avoid getting lost in vanity metrics; all your analytics should track ROI and know if you are hitting your objectives or not.
Prioritize essentials such as conversion rate and click-through rate, among others. ‘Non-essentials’ should only work to provide context to the most actionable metrics.
For example, high traffic and pageviews indicate how rich your attraction packages are in online sales but are ultimately useless if the traffic doesn’t convert. They should only point you to how well you are converting and not be the end goal themselves.
2. Benchmarking with offline sources:
It is excellent to collect digital data to refine consumer personas and tailor campaign offerings to their crucial needs.
However, benchmarking the digital insights you get with valuable data from in-person interactions with your brand will open you to more bankable consumer information.
3. Collaboration among teams:
With data constantly flowing in from each stage of the marketing funnel, the most successful campaigns must be fluid to accommodate changing needs of your target customers.
The innovation needed to keep your campaigns adaptive across channels, messaging, and execution achieved is best with full collaboration between team members.
It is recommended that you keep all team members updated on every new data generated and every new calculated metric. The best way to do this is to employ a tool that automates the collaboration like Datameer.
More on Datameer at the end of his article.
4. Prioritize conversions:
The conversion rate refers to the number of customers carrying out the specific actions you want them to carry out.
I had to give this one its own point because it is one of the most important KPI metrics you need to keep in mind while sorting data.
I will let HubSpot Diamond Partner and Inbound Marketing Expert do justice to this one.
“One thing I always look at to see what is performing best and what needs improvement is the website visit-lead-customer conversion ratios. If you track this by source, such as email, social, organic, and more, you can quickly see what is driving new customer acquisition and revenue.”
5. Live data Analysis:
Data will keep pouring in every week or month if your marketing campaign is multi-channeled and is done correctly.
You cannot afford to accumulate data before generating reports. Because of the new information coming in daily, it is already outdated when your report is ready.
We usually handle this issue in 2 ways:
- It would help if you had a solution that transforms datasets in minutes.
- Your data processing needs to be life and in real-time.
Please stick with me; I have a solution that seamlessly covers these two challenges below.
6. The right tool for the job:
Your marketing and sales tools should have the right features to drive up your ROI. It typically should make every guideline here easy to achieve.
Your job would be to find the best tools that perfectly fit the type of campaign you want to do. And I have got just the thing – or should I say the prize.
Marketing And Analytics
All the steps listed above, if followed diligently, would help to maintain sustainable marketing campaigns that can run for long periods.
It will sustain marketing campaigns that run across multiple channels yet produce high ROI and help to spend those marketing dollars.
These steps would help you to keep your marketing objectives in view and also focus on the marketing data that is most important for analysis. It will meet your target audience at the point of their most crucial needs.
But good data collection practices alone won’t win us the war against unsuccessful marketing campaigns. Nope! It would help if you had a data warehouse and a great data transformation tool.
Datameer on Snowflake: The Union that Births Sustainability
Ladies and gentlemen, the prize!!!
Let’s look at a robust, integrated, multi-faceted tool to finish.
Allow me to introduce to you DATAMEER in Snowflake!
Use Datameer for rich data documentation, easy deployment options, and model reuse features, which allow your team to deliver transformed data that business teams will have confidence in entirely.
Regardless of SQL proficiency, your team of data engineers, analysts, and scientists have an interface to compute all your real-time KPIs from live marketing data.
It is easy to use for non-programmers and programmers, offering a magnificent array of user interfaces comprising of:
- No-code drag and drop user interface
- Low code wizard-driven user interface
- And SQL code user interface with auto-complete feature
A Data Modeling Solution for Snowflake
You cannot go wrong with a data modeling tool sitting pretty inside a robust data warehousing tool like Snowflake.
Give your team a chance to seamlessly collaborate and merge skills and knowledge and incorporate all the above advantages.
But don’t take my word for it; revolutionize your data journey with all these features for free for 14 days.