More on Marketing Powered by Technology
In my experience, marketing professionals often pride themselves on the creative work that they produce, but clearly in today’s world there is a need to embrace the analytical side of those pretty pictures.
It might be hard for some to imagine, but tech can actually feed marketing brains! Think about automated and streamlined systems. When used to your advantage, these systems can provide you with fascinating insights. Wouldn’t it be exciting if creative types had more time to be creative and collaborative, and your company could use that great work to fit into an established framework of analytics-based strategy?
Start with a simple campaign analysis, as that should be fairly straightforward from an analysis standpoint. Taking the time to digest the results eliminates guesswork and uncertainty in future campaigns. It gives you a real ROI on your marketing efforts. Define KPIs beforehand so you have a benchmark to measure your results against.
I really do believe that using data analytics can do wonders for any business. According to PricewaterhouseCoopers research, highly data-driven companies are three times more likely to report significant improvement in decision making. That being said, it was shocking to see their study from late last year stating 62% of executives still rely on experience and advice than data to make big decisions.
The answer could be due to the data itself. Executives don’t have the right info they need, or perhaps they have data but it isn’t in a useful format. This is where having the right types of technology and software in place becomes essential.
Take marketing automation for instance. Thousands of companies use it everyday with proven results. I saw one study from a few years back that found using marketing automation for prospect nurturing can provide a 451% lift in qualified leads. There are all kinds of applications available to help you with marketing automation, to name a few, Hubspot, MailChimp, Marketo, Hootsuite.
Today’s true leaders are using digital-driven marketing and data analytics with advanced technology to shorten the timespan of insight to action. These leaders are transforming their businesses. Operating without this practice is like throwing mud on the wall to see what sticks. No matter how skilled you are… there is still a matter of luck involved.
It can sometimes be a challenge to harness the right data to uncover the insights your company lacks. But to be guided by data – and not on instinct – can undoubtedly bring you closer to the customer enhancing their journey. You want to turn your marketing department from a money-draining team to a money-making one. Show your value through data.