How To Overcome The Challenges of Data-Driven Digital Marketing

How To Overcome The Challenges of Data-Driven Digital Marketing

Data is a key component in driving decisions when it comes to consumer behavior and marketing strategies. There is a lot that marketers can learn from data collection that can be helpful in creating a concise customer journey and increase conversions. However, with all this information comes challenges.

Here are a few of the biggest challenges marketers face when it comes to data and how to overcome those challenges.

Implementing a strategy

The objective of using data to drive marketing is to learn more about your audiences and acquire new leads using historical and real-time data and integrate this data across multiple platforms to have consistency with your marketing. However, deciding where to start and how to use it can be a difficult task for marketers. According to a recent survey, 81% of marketersconsider implementing a data-driven marketing strategy to be complicated.

The issue that is making it complicated for marketers is that they are not spending enough time using data to identify audiences. Marketers need to look at more than just past performance metrics to determine strategies but also look at predictive data and develop personas to personalize towards. 

Start by identifying your organization’s overall goals and objectives and work backward. What are your main KPIs and what data would be helpful in getting there? Ensure that your goals are not just for marketing but aligned with the overall goals of the organization from stakeholders to sales. This means breaking down your silos from marketing, financial, customer service, and other initiatives to see the bigger picture. There needs to be a single view of how an organization would describe their customer and their measurement for ROI to make data-driven strategies a success.

Finding the right data and KPIs

Data is pointless if it cannot be used to serve a purpose. Any organization can track and collect data, but it’s the way they utilize that data is what matters. You need to give the data a meaning because without they are just numbers

After you have decided on a strategy, start tracking the chosen data points that help contribute to those KPIs. Metrics need to be determined to be able to track how successful the strategy is. The most effective KPIs to look at are traffic, engagement rates and conversions. Determine a timeline for when you will reevaluate and optimize the performance of the strategy. Make sure you choose the most actionable data items that you can accurately track and activate on. You should be able to identify patterns, correlations and can measure success and ROI.

One example is that you can use behavioral data to market to customers when they are in the process of making a purchase. Say a customer abandons their online shopping cart. You can use data, set triggers, and then automatically email the customer a reminder to follow through with a purchase. This practice is especially valuable considering 65 percent of abandoned carts can be recaptured within 24 hours.

It should work like an equation. If there is no true outcome that can come from that equation, then that is not your actionable data. The best way to see this is to use data visualizations to identify and show the data sets across platforms.

Having the right platforms and tools

Determining the right tools and platforms for the organization is important so that you make sure to have a source of truth to work from. You should have a platform that takes in all your data activity across all your channels, so you can see what is happening throughout the customer journey and make informed decisions from that.

Even the companies that have been collecting data for some time now, many of that data isn’t utilized. In fact, research shows that only 10 percent of data is structured enough for digital marketers to use. As data collection gets more advanced, timing becomes everything. It is important to have the right platforms like CMPs, DMPs, analytic tracking programs, etc. to be able to keep up with real-time insights 

Bringing it all together

The key to the success of using data in marketing is the ability to collect, harmonize and analyze the data for results. This means integrating all systems and platforms together. According to research, however, 64% of marketers cited “improving data quality” as the single biggest challenge they encounter when attempting to personalize messaging for audiences. Double check that your data is correct by identifying and eliminating factors that could skew the data. Keep consistency in how you report and organize your data to ensure for the quality of data.

The best way to go about overcoming your data-driven challenges is to think of it as the scientific method.

  1. Start with the data.
  2. Ask a question of what information you have available to you.
  3. Construct a hypothesis.
  4. Test with an experiment.
  5. Confirm the test/procedure worked as planned.
  6. Analyze the data and draw conclusions
  7. Present results and determine the next steps

Remember that this will not be an overnight task. Just like science experiments it will take going back to previous steps and reconfiguring your hypothesis and a lot of testing to achieve results, but in the end, data will help drive marketing success.Nicole Martin is the owner of NR Digital Consulting and has worked in many different industries on customer journeys, website management, social media, and content strategy. Starting out as a journalist, Nicole has a BA in Print Journalism from Penn State University

Source : https://www.forbes.com/sites/nicolemartin1/2018/12/18/how-to-overcome-the-challenges-of-data-driven-digital-marketing

 

 

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Web designs December 21, 2018 0 Comments

Digital Marketing

Digital Marketing

Giving much attention to the current scenario of the world of business and the way it has been affected by the magic touch of computers and technology, it is not very surprising that this technology and internet have started to be tools of marketing for the multinational companies. This has paved a way to the development of newer and faster marketing technologies such as digital marketing, use of multimedia and many more. In fact the use of these technologies has become a necessity for anyone wanting to get a boom in his business and be noticed on this digital platform that connects the whole world in a single click.

Digital Marketing

Now what exactly is digital marketing? It is a combined marketing bunch of measurable, targeted and interactive strategies that may be used for the promotion of any type of product or service. This kind of marketing puts to use various kinds of digital technologies and hence is commonly known as the digital marketing. Being a very powerful method of promotion, it is much useful in the business if adopted. It has the potential for the conversion of your major leads into customers. The enhancement of sales is the main motto of any digital marketing service. The other objectives may be the promotion of brands to raise their brand value. The traditional marketing by the use of television and mobile is now being overrun by the use of internet. People today prefer to use the internet as a marketing tool considering the fact that it has a larger outreach than compared to any other means of marketing.

Digital marketing is not just a single term but takes under its roof many other strategies of marketing like search engine optimization, e-commerce, social media optimization, influence marketing, content marketing, content automation and much more. The fundamental foundation of the digital marketing concept is the use of inbound marketing approach or the customer centric approach as it is famously known as. Every company in today’s business world requires digital advertising for rise in business. We as a company that provides digital marketing services, consider all the various areas that are to be given priority when marketing for you on the digital interface. Our centre of focus is always on various aspects like online advertising, collaborative environment, segmentation and influencer marketing. There are multiple channels that can facilitate digital marketing but the responsibility of the advertiser is to search for those channels that result in the maximum of two way communication exchange and lead to a better return of investment for the brand. We find for your company the best channel for marketing and see to it that our digital marketing services help you jump up many levels in your brand value. We put to use various online marketing channels such as email marketing, affiliate marketing and many more to make your business the centre of attraction on the internet. Apart from the basic techniques of pay per clicks management, social media optimization, search engine optimization, we always try to keep finding out newer way that help in the generation of traffic to your website.

We have eminent clients from various fields of work in which they hold expertise and on the whole all they have to say about us in common are only words of appreciation and praise for the timely delivery, innovative ideas and user friendly interface created by us. The services we render are of the best quality and apart from helping your business getting noticed and generating traffic for the website, it also helps in increasing the Google rankings of your website.

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Web designs January 11, 2018 0 Comments
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