How to Master Your Marketing Data

What Does it Mean to Master Your Marketing Data?

According to Google, to master a thing means to learn how to do something correctly or succeed in understanding it completely.

With data constantly changing and marketing technologies emerging, we are faced with many data systems but limited resources… How can we possibly succeed in understanding all of this  completely ?

The excellent news… we don’t have to! 

We can settle for the first phrase in our mastery definition – “ do something properly.”

Why does marketing mastery matter?

Allocadia, a performance management software company, put out a report after surveying over 240 marketing leaders. 

According to the report, it was found that marketing organizations that have invested in better planning, budgeting, and measurement are more likely to be part of high-growth companies and more likely to preserve and increase their budgets.

Conversely, marketing leaders who don’t  master  this art of measuring their marketing efforts will always be asked to prove their significance as growth drivers, especially when asking for the next budget. 

Sounds outrageous, right? 🤷‍♀️…. Is it true though

In this article, we’d like to share five essential techniques to master your marketing data.

Here are a few ways to do “marketing” properly :

1. Measure the right Metrics : 

What are the right metrics?

To understand the term ‘right’ in this context, let’s look at what wrong metrics are.

Metrics like activity, impressions and follower count are good examples of vanity/wrong metrics in marketing.

These metrics make you look good to others but lack depth. They do not offer insight into your performance in a way that informs future strategies.

On the flip side, anything that speaks directly to a broad set of business benefits, e.g., revenue, margin, earnings, etc., are, in fact, the right metrics.

 These kinds of metrics focus on the business, enabling you to learn from your decisions and assist you in effectively measuring your growth.

2. Adopt a Data-Driven Strategy: 

Once you have set goals for each of the critical metrics you choose to track, the next step is to automate and optimize the measuring process, i.e., create a framework for measurement, a data-driven one. 

According to a report by Mckinsey Global Institute, data-driven organizations are 23 times more likely to gain customers and six times as likely to retain customers.

 If you’d like to know more about leveraging data to drive your marketing efforts, you can check out our  Data-Driven Marketing Strategies for Sustainable Results  article.

3. Develop a 2-3 year Marketing Analytics Goal : 

As a growing organization, once you have achieved basic data-driven marketing analytics, it’s important to begin assessing your current marketing analytics stack to identify areas for growth. 

In our previous articles, we provided our readers with a marketing analytics maturity scale to measure where they are on the marketing analytics ladder. 

If this is something that interests you, you can read more about this  here .

Take a look at our scale and figure out where you are and where you want to be in 2-3 years. You can start fostering buy-in and collaboration among stakeholders in your company. 

Make them understand why you want to be there and what you need to get there.

4. Get your team to be Google Analytics & Tag Manager Certified : 

Google Analytics is used by over 50% of all websites on the internet and is one the most effective tools for web analytics. Understanding how google tag manager works will help you implement some of your hypothesis testings… Plus, it’s free!

Everyone within your team, even the technical guys, should be certified.

5. Work with your agency partners and internal teams to make sure you are using the same data: 

Everybody wants to look good and might interpret data to their best look. You need to make sure every party is reporting the same data.

** Additional Considerations and Best Practices

• Audit your Google Analytics Setup(and all media platform tags) before the campaign launch.

• Track Traditional Campaigns too

• Perform  data cleaning

• Apply Customer segmentation and analytics

•  Embracing multi-channel campaigns etc.

Datameer: A Tool to Model and Master Your Marketing Data

Our first point covered the importance of measuring and tracking the right metrics. 

To track these metrics, we require technology that assists us in having a consolidated view of what’s going on across our channels.

A data warehouse .

Traditionally, deploying data systems like this comes with a caveat; data transformation and modeling issues.

With tools like Datameer and DWs like Snowflake, you don’t have to worry about these problems. Datameer assists in democratizing data management and enables easy and transparent data modeling and proper data governance. 

Sounds too good to be true?

Deploy Snowflake and take Datameer for a spin.

Try out our free trial today!