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Marketing Analytics – Is It for Your Business?

Overkill, or just knowing your customer better?

In today’s marketing industry, it‘s’ more important than ever to have a data-driven approach to marketing. Bold statement, I know.

While I will admit that data can cause a company to become possibly a bit too conservative in their approach to marketing — Boring, even — When you know what the customers or clients want most, it may be time to lean in.

How do you know what the customer or clients want most?

You start with the basics — Marketing analytics. Better yet, understand what your customers are saying by what they’re doing. Stop guessing

Where do you start? Well — with the basics.

There are countless sophisticated data analysis tools and an insane availability of data. Businesses now have the ability to gain insights into their customers like never before. Whether you’re working to better understand your customers’ needs and wants through developing a desire-based marketing strategy or conducting multiple split tests to confirm or deny your biased opinions about your clients, it’s up to you to take the reigns in how your business speaks to your audience.

What does this even mean? It means that your opinions and biases of your customers are most likely wrong or extremely secondary to why your customers or clients are actually purchasing or using your services.

Scared yet? It’s possible that you should be.

Not seeing the returns on your marketing that you would expect otherwise? You and your client or customer may not be speaking the same language.

Congrats! It’s time to revisit how you’re communicating with them.

Okay, so by now, you’re probably telling yourself “that’s great Greg, but you haven’t actually given me a single answer to my problem”.

You’re right. So let’s get started.

First, let’s start with the basics. If you’re still with me — this is typically where a pen and paper will come in handy.

What is Data-Oriented Marketing?
Data-oriented marketers rely on data to inform their marketing decisions. This approach is in contrast with traditional guesswork or intuition that are used by many companies for this purpose, but it can be an effective way of reaching customers more efficiently using relevant messages at just the right time.

With data-oriented marketing, businesses are able to track the performance of their marketing campaigns and make adjustments in real time based on what is working and what is not. This approach allows businesses to change their tactics quickly, and respond quickly to changes in the market or among their customer base. Why is this important? Well, let me ask you, have you ever spoken with someone that uses technical jargon, only to get frustrated when you ask them to explain what they’re talking about in easy-to-understand verbiage? Don’t be that guy with your customers or clients.

If you haven’t noticed a shift in the results of your marketing, you are likely simply missing the mark with your audience. Stop wasting time and money on messaging that isn’t producing the results that you’re trying to achieve, and don’t turn your potential customers or clients off by making things more complicated than they have to be.

If your marketing messaging is spot-on, you will notice an ROI in your efforts.

Why You Should Use Data-Oriented Marketing
Data-oriented marketing is a great way to get the most out of your campaigns. This approach will allow you to make decisions based on facts, rather than guessing what’s going through people’s minds or relying solely upon hunches about their preferences — and when it comes down to the right marketing strategy, there aren’t many more important factors than customer feedback. The feedback is in both what is obviously resonating with your audience, as well as real-time feedback through surveys and your online forum.

This is called the feedback loop. This is where the audience validation comes in.

Tracking your progress with data-oriented marketing gives you a way to measure the success of each campaign. You can optimize for maximum results until there is no more room left for error or misinterpretation.

Data-oriented marketing will save you money.

We’ve all been tempted to spend money on gut instinct, but at the end of the day, by making informed decisions about where to allocate your marketing budget, you can avoid wasteful spending on tactics that don’t work. We’ve all been around the classic exuberant marketer that genuinely believes they can shape the audience’s perspective simply because they want to tell a story. If we are completely honest with ourselves, the story we want to tell is not always the story the audience wants to hear.

What do I mean by this?

With Wells Digital Media, we’ve established a 15-year track record of insane levels of marketing analytics to hone in on a client’s campaign messaging before ever fully launching and scaling their ads.

We will test, at times, 15 or more messages that focus on the client’s Desire Based Marketing Strategy, 15 or more creatives, variants of landing pages and their split test counterpart, and even the loss leaders (the products that are most digestible to the potential client or customer) to help determine exactly what will get them the best results possible, as quickly as possible.

Bare in mind — we go to an insane level of detail, but this is the exact same level of detail you should be going into with your marketing. Not sure how to get started? Reach out —We don’t bite.

Not ready to do this yet? Maybe it’s not time for you to invest heavily into your marketing — or maybe you just lucked out, and you’re making enough to be happy. Are you absolutely positive you’re not leaving money on the table? I sincerely doubt you can be 100% positive.

At the end of the day, data analytics are crucial if you want to guide your marketing strategy to success, but after attempting to drill how cool it is, not everyone is ready to take this level of responsibility for their marketing.

It’s all about beginning with the basics. The Desire-Based Marketing Strategy is a great place to begin.

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