Data driven marketing decisions achieve better results for brands. This is something that most businesses now understand – and there are examples of the way this has worked to a business advantage everywhere you look. InterContinental Hotels Group, for example, employed the data from social media analytics to make marketing decisions that resulted in a 35% higher conversion rate. So, how can you use the data that you gather to make smarter marketing decisions?
Getting to know your audience
Customer knowledge creates a competitive advantage in marketing terms. The more you’re able to understand customer wants and needs the better you can tailor products or services to what your customers are looking for. Data, such as that gathered from Google Analytics, can deliver significant insight into an audience, from what kind of marketing activity they best respond to, to online activity and where your website traffic is coming from.
Personalisation of product selections
A recommended products feature is something that is useful to any brand of any size – and which is currently an extremely popular marketing tool with big names such as Amazon. Recommended product selections require data to work effectively. You can use the data that you collect on past purchases made or product ratings supplied, for example, combined with the right algorithm, to make purchasing suggestions that could influence sales.
Data has a lot to contribute to generating successful leads by inputting into lead scoring. With a lead analysis tool data, such as how many times a customer has looked at a product or what they like on social media, can be used to quantify leads and better target marketing.
Identify your best channels
Multi-channel marketing is on the rise but it can be tricky to ensure that your resources are being well used if they are spread across many channels. Data gathered from analytics provides a way to test and analyse which channels are your best performers so that you can ensure your marketing efforts are being best used.
Nurturing repeat customers
Repeat customers spend around two thirds more than first time customers do. So, anything that you can do to retain them is a valuable use of marketing resources. Point-of-sale data provides incredibly valuable information that can be used to encourage customers to return, from tailoring email marketing to better targeting promotions and ads.
A CRM provides a way to centralise data gathered about customers and use this to improve experience. Data in a CRM can be analysed for insights that can prove invaluable with respect to better tailoring marketing. It will not only filter out the worthless data that could cloud the overall perspective but will enable the business to focus on the key analytics and to ensure that anyone dealing with customers is well informed. Customers want to feel individually valued by brands – that’s when marketing and customer service really work – and a CRM provides the foundation for a more personalised approach.
We are marketing data specialists – with our CRM solution you can create, manage and deliver campaigns across digital and analogue channels from one clean, clear Single Customer View. Get in with the MarketDeveloper team today to find out more.