How Data Can Help Elevate Your Business

According to Forbes, as many as 92% of companies using data exceeded their marketing aims. The report also states that companies using data have recorded an impressive rise of 8-23% in annual sales. 

Are you using data efficiently for your marketing campaigns as a digital marketer? Let us understand what data is and how it can assist you in reaping the benefits of your digital marketing plans. Traditional marketing on various mediums typically involves capturing sales numbers on an excel and examining them manually for any insights. 

This involved a lot of guessing and testing work, hoping that the insights would give you a eureka moment regarding what the targeted clients need from the brand. No matter how extensive they were, researchers could never capture real-time trends. However, as the digital marketing era has made its space, you, as the digital marketer, can now gain and store all the valuable insights required to know your customer needs. 

But that leaves your marketing team to deal with a lot of data. This data can be both tricky and formless. To derive valuable facts from this data, you need tools that can structure and study the data.

Data is all about gaining and analyzing large volumes of data. Investigating complex information derives rich and enlightening reports. This report lets you know your customer demands and plan the right marketing strategies.

For example, you can use a tool like Ongage to make personalized email marketing campaigns for your target market with the correct data. Also known as one-on-one marketing, personalized marketing is about offering relevant ads or notifications to individual customers based on prior data such as browsing history, clickstream behavior, age, location, etc.

Apart from saving money and improving ad efficiency, personalized marketing can enhance your client’s brand experience, promote brand commitment, and raise online sales and conversion. 

The online content streaming platform Netflix is a shining example of how to use targeted promotion. Netflix uses your past movie tracks to get insights into what interests you the most and recommends what you should watch next. The effectiveness of targeted marketing can be gauged from the fact that 80% of the content watched on Netflix is influenced by this suggested system. 

Create Your Buyer Persona

You can clear all the guesswork from knowing your customer’s requirements with the correct data. Data helps you design the right buyer persona using parameters like client behavior, buying patterns, favorite product lines, etc. For example, you may find that working women react better to product publicity emails, while millennials are likely to be curious about discount offers.

Pull The Right Customers From Social Media

With online users spending an average of 2 hours and 22 minutes daily on social media, this is the correct forum for online companies to target. Based on the most recent searches and posted comments, you can check each social media user to a digital persona – to target them with the right promotional message. Social media marketing is absolutely crucial for building your brand.

Optimize your marketing budget across digital mediums.

Which digital medium should you invest in for your next online campaign? With so many digital platforms, such as social media, blogs, AdWords, and affiliate networks, this is one of the significant challenges for marketers. Data can help you decide which channels are bringing in more traffic and creating more sales possibilities – thus allowing you to use your budget smartly by funding media that work and ignoring those with poor click-through rates.

Follow The Pareto Principle

It is also known as the 80/20 rule. You can now use the Pareto principle to specify the top 20% of your digital mediums, yielding 80% positive results. To confine your budget grant, you can include incoming traffic from various origins, including paid marketing campaigns, organic traffic, and social media campaigns.

Beware of Scaling

Start with a small budget allowance and target only a few digital platforms – until you see profit in terms of leads and sales. Budget scaling can mean extra online campaigns on a single platform or multiple forums. By starting on a small scale, you can quickly determine the digital mediums that work for you and make the right budget decision accordingly.

A data-driven choice is based on empirical evidence, enabling owners to take known actions that result in fruitful business outcomes. The opposite of data-driven methods is to make decisions based solely on assumption. For data-driven business owners, listening to their gut may be part of their decision-making approach, but they only take specific actions based on what the data shows.

Using data, you can raise the ROI of your digital marketing campaign by targeting a purchase-ready client. It is done by anticipating their needs in advance. You can easily alter potential clients into loyal consumers by using unique data sources in the ways discussed above.