Today, there is an increasing reliance on data due to the abundance of software-, web- and technology-based products and services. Rather than relying on foot traffic to a storefront to determine the return on a marketing ploy, marketers and analysts need to understand what influenced a buyer from intent to buy to is why technologies have been created that allow marketers to extract all the data they need. The only issue is many marketers don’t know how to initiate action from the data.
In fact—according to the above-linked survey results from vk database dannybrown.me—while 83 percent of marketers plan to consider using real-time data, 45 percent of them said analysis and application of data is their biggest challenge, and 39 percent aren’t using demographic information or customer-behavior patterns to create their marketing strategies.
To make the most of the data you’re gathering on your visitors, leads and customers, you have to keep in mind this simple rule of marketing: Figure out what’s working and do more of it. In today’s post we’ll help you undercover insight from your data in three easy ways.
Ready to boost conversions with a data-driven marketing methodology?
1. Identify opportunities
Data is an incredible tool for uncovering unseen opportunities in your marketing strategy. If you want people to take a certain action (or perform a particular conversion) you need to focus your attention on conversion rates and optimizing for them.
For example, your data may reveal that traffic dropped over the last couple of weeks, but free-trial signups continued to accrue. From there you should dig deeper into which channels are converting at the highest rate (email, social media, blog, site-page CTA, etc.)
Focus your marketing efforts on the highest-converting channels, while A/B testing the channels that are converting poorly. Create two variants of the same asset and test them with small percentages of the total audience for whom the asset is intended. The one that converts the best becomes the published version.