Data can reveal strengths and weaknesses of every part of your business, allowing you to make better decisions from operations to finance to marketing.
How do you incorporate data-driven marketing into your business to see the benefits fast?
Before anyone in your business starts analyzing data, assemble a team to handle the data. The team must include members from different departments and cross-disciplinary teams. Prioritize collaboration between these individuals by scheduling frequent, focused meetings in which everyone shares ideas and information.
Determine what types of data have a positive impact on your marketing. Focus on gathering data around key KPIs that will have a measurable impact.
Example types of data to collect, manage, and track: Target Market, Competitors, Sales Activities, Website Content, Social Media, Customer and Prospect Data, and more.
Focus on configuring and maintaining data management systems to deliver critical insight for you and other executives.
Experiment and Test
Experiment with various approaches and track results. This includes content, trade show material, and call length among others. Even if you already track this data with A/B testing, remember that the most important metric is engagement.
Are you reaching all your ideal potential customers? Look for co-marketing opportunities with dissimilar products but similar targets. By
analyzing your data, you can see which non-standard channels might work for you.
Data must be frequently manipulated and tested. Once you have enough data in your system, valid testing can be performed in as little as 24 hours. The more data you have, the more informed your marketing decisions will be.
RadiusBridge® develops and supports custom data management systems for executives to know, protect, and grow their business.