Data driven marketing has become a foundational aspect of a successful marketing strategy. Known for helping businesses bring in more leads, find their ideal customers and create focused content specifically for their target audiences, it gives companies a clear competitive advantage. Yet only about 25% of businesses are implementing it.Data is what drives a business’ digital marketing strategy and will ultimately be the force behind increased ROI. To be effective it needs to be constantly evaluated, tested and adjusted. In short, as the data changes, so should your marketing efforts.
It’s a tried and true process in at Strategy House, which is why we thought it would be helpful to share our insights on what exactly data driven marketing is and how it can help your business grow and thrive.
Test, Learn and Tweak Your Marketing Strategy
At the heart, data driven marketing is all about testing, learning from that data and taking action, making any changes necessary. It’s an agile approach to more traditional ‘set it and forget it’ methods of marketing used in the past.
Not only that but it allows businesses to improve performance without playing the waiting game and without steep investments. Of course, there’s nothing wrong with marketing campaigns that require more time and resources invested, but for an overall digital marketing strategy there’s no time to wait around - things change quickly!
Before launching a data driven marketing initiative, you should set a strategy that starts with one area of focus. Consider what areas of your business you’d like to improve. From there a center your objectives around targeting your ideal and most profitable customers. Launching a strategy quickly may sound hasty, but that’s where the continuous improvement comes into play. As you begin to collect customer data and dig deeper into what your customers do and don’t like, you can test and tweak the strategy for data-driven optimum performance.
Why Your Business Needs Data Driven Marketing
At the end of the day, businesses exist to serve their customers. It sounds simplistic, yet many companies still don’t seem to be focused on effectively and authentically engaging with their customers. This is exactly what data driven marketing strategies aims to do.
In recent years, the amount of information people references prior to making a buying decision has jumped from 5.3 to 10.4. Meaning creating the right type of content and media for the right type of people is crucial when it comes to engaging leads and guiding them through the buyer’s journey. Mining your data and setting up the strategies to continuously be collecting more, is one of the best ways to create a personalized customer experience.
Data Driven Tools
Unless your business is brand new, there’s already data in place for you to put to use. With the help of analytical tools like Google Analytics you can learn more about the traffic that’s visiting your website(s) and what they do when they get there.
Utilizing marketing automation tools such as Hubspot, which we use at Strategy House, is also beneficial. It can be used to create processes within your content marketing strategy and test data, like which topics are most interesting to people and tracking email marketing campaign or landing page success. Hubspot is also a useful content marketing tool, which is key for keeping data organized when it comes time to create, manage and edit your online content.
Continuous Effort For Continuous Success
With the right tools, a thorough understanding of your customers and business goals, and a clear strategy, your data driven marketing strategy will be well on its way. Just remember, these strategies are fueled by constant measuring, testing of data and action in order to remain successful.
Does the idea of growing your B2B business with a data driven marketing strategy sounds good to you? Get in touch to see how Strategy House can help your B2B business grow with data.