Marketers won't be short of data in 2022. Each campaign, whether online or offline, can be tracked using an increasing number of analytical tools.
This is not exaggeration. In 2021 , the big-data analytics market was worth $231.43 million. It will be valued at $549.73 million by 2028.
It would be difficult to find a marketer that doesn't use data as a way to show their methods work. But what about marketers who use data analytics to inform their marketing strategies? They are a rare breed.
It is time to make a change. Marketing with data analytics can eliminate the guesswork, transform campaigns, and send conversions and revenues skyrocketing.
What is Data Analytics in Marketing?
Marketing with data analytics is about measuring, analyzing and applying data to marketing campaigns. It's not just about tracking campaign results to prove ROI.
Data collection is the first step. You can collect data about the user's behavior by adding a Google Analytics tool to your website. It is important to spend time analysing and interpreting data and then apply those findings to marketing campaigns.
Data analytics can be integrated into existing and new marketing campaigns. You could, for example, use data from PPC campaigns as a guideline for copy in an email marketing campaign. You could also use data from Google Analytics to modify the layout of your website to improve conversion rates.
There are many tools available to help you collect data.
You will be familiar with tools such as Google Analytics or my Ubersuggest tool. But that's only the tip of the iceberg. There's also:
- Hotjar website heat mapping
- Optimizely for A/B Testing
- Mention social media monitoring
These tools allow you to track almost any KPI that you can think of, and many others you may not have even heard about. Traffic levels, click-through and open rates, conversions rates, social media engagement, and open rates are all common KPIs.
Databox has identified the ten most used metrics for tracking data with Google Analytics. These are:
- Rate of bounce
- average session duration
- Percentage of new sessions
- Sessions by channel
- pages per session
- Goal completions
- Pageviews per page
The campaign you are trying to improve will determine the KPIs that you should track. Alexandra Rynne says that it is important to slow down data tracking. While the typical B2B sales cycle is three months long, only four per cent of marketers measure ROI for six months or more.
Heidi Cohen, Chief Marketing Officer at Actionable Market Guide, states that you should also be keeping track of data every day.
You should regularly measure your business metrics. Digital businesses can measure their results as frequently as every day.
Why it Makes Sense To Use Data Analytics In Marketing
Data analytics can help you market with results. It's simple and straightforward.
Forrester research shows that marketers who have five or more tools in their marketing analysis stack are 39% more likely for improvements.
It removes all the guesswork and makes it easier to choose marketing spend and campaigns that will be more accurate.
This assertion is supported by evidence. Econsultancy and Google both found that two-thirds (and even three-quarters) of marketers believe data-driven decisions are more effective than gut instinct.
Data analytics can help you set higher goals in marketing. You can, for example, use historical performance to determine if a 10% increase in web traffic through SEO is possible.
It allows you to create more targeted campaigns. Third, it allows you to create better and more personalized marketing campaigns. 80% of shoppers will make a purchase if a company uses personalization strategies .
If you don't know your customers, it's impossible to personalize marketing messages. Data is crucial to creating amazing customer experiences, especially when consumers are very selective about the brands they choose to interact with.
Finally, data can make it easier to increase your marketing budget. 13.4% of marketers believe budget security is their greatest challenge. It's easier to make a case for funding when data analytics are integrated into your marketing campaigns. You'll also see the benefits that I have already mentioned. Data analytics allows you to prove to executives that an increase in your budget will result in a significant increase of sales.
Data Analytics Marketing: 5 Strategies You Can Use
Data analytics can be used in many ways to optimize and inform marketing efforts. These are the five strategies that I recommend you test.
1. Personalize the Customer Experience
Don't be afraid to upset consumers by personalization
Data analytics is the best way to personalize customer experiences. The sheer volume of data generated by customers means that you can personalize almost every touchpoint.
Personalization is a common point of entry for brands through email. Campaign Monitor, ActiveCampaign and Klayvio make it simple to access information such as browsing history, previous purchases, abandoned carts, and browsing patterns to automatically send personalized emails.
Personalization is also possible through website experience. Google Optimize can help you turn the KPIs that Google Analytics tracks into personalization opportunities. For instance, you can:
- Display a customized page for users who are from a particular country or city
- Different pages will be displayed depending on which website they were referred to
- Personalize pages based on previously purchased products
Michael Ringman, CIO of TELUS International, suggests that brands use small data when the cost and complexity of big data personalization is prohibitive.
Agents who are highly motivated and care about the company are required to collect small data. They must be passionate about helping the company improve its offerings. Companies must foster an employee-centric workplace culture, rewarding and recognizing positive behavior.
Personalization based on data doesn't have to be done online. Online data analysis can also be very effective in improving marketing efforts.
DirecTV is an example. It created a targeted marketing campaign that targeted people who had recently moved.
Knowing that consumers are more likely to use new services after a move they created a customized version of their homepage. Only these people could see it. The personalized homepage had a significantly higher conversion rate, it is not surprising.
2. To optimize your site, run A/B tests
Congratulations to anyone who has ever conducted an A/B testing. This means that you have already integrated data analytics into your marketing. Split testing, also known as A/B testing, is a popular way to optimize emails, landing pages and other marketing messages.
Approximately three quarters of all companies (77%) use A/B testing to test different campaigns to determine the best performers.
A/B testing allows you to focus on the best options for your audience and brand. A/B testing removes the need for luck and guesswork from your campaigns by relying on hard data. You can then clearly see what works and what doesn’t.
These results can sometimes be surprising and powerful.
Wrike, project management software company, split-tested multiple variables on its site following a brand overhaul. The team discovered that landing pages with no floating CTA converted 42 per cent better than those with one. A dark theme converts better than a lighter theme, and multiple CTAs can increase conversion rates up to ten times.
It is possible to A/B-test any part of your marketing campaign. However, Invesp states that websites are the most popular channels. Email (59%), landing pages (60%) and paid search (58%) are all acceptable.
It is simple to get started with A/B Testing, especially if you use Google Optimize. Google offers a step-by-step guide, but it is easy to break down the process into these steps.
- Select the channel that you wish to optimize.
- Make a strong hypothesis.
- Choose the KPIs that you wish to track (open rates and conversions). ).
- You can create different versions of the variable that you wish to improve.
It is essential to come up with a compelling hypothesis. It is important to make your hypothesis specific, measurable, and easily applicable to future campaigns. You could, for example, hypothesize that changing a landing page's heading to highlight a specific benefit will lead to a 10% increase in conversion rates.
When running any test, be sure to check for statistical significance. Optimize can help you determine the traffic level you require, but you will need at least 5000 unique visitors.
3. Make content that customers care about
Content marketing is all about measuring content performance. According the Content Marketing Institute , around three quarters (78%) of marketers measure and establish KPIs for content performance.
Marketers are less likely to use data to help them plan future content marketing campaigns, except for keyword research. This is a shame, as data analytics can be used to help content marketers find the most valuable content and write about topics that are of interest to customers.
Listening to your users is the best way to create content that converts. This is the basis of Grow and Convert's Pain Points SEO process. Instead of focusing solely on keywords, they conduct in-depth interviews with customers to identify the issues that will form the basis for their articles. They create content that targets topics that aren't covered by their competitors.
One-on-one interviews can be a great way to collect qualitative data. But what if you need to hear from thousands or hundreds of people simultaneously?
Enter social listening.
Social listening is a great way to use data analytics at scale to create content that your customers enjoy reading. This strategy can be scaled by using dedicated social listening tools. You will discover topics that no one else is covering.
Mention is a great social listening tool. It makes it simple to create alerts on any topic across all major social media channels. When you create an account, it will automatically set up alerts to your brand terms.
It is simple to set up a new alert. To get started, click on the “Add a New Alert” button at the top right-hand side. Select Standard Alert.
Next, enter your topic and select the social media channels that you wish to monitor. I have chosen to monitor links building mentions on Twitter.
Mention will automatically gather all tweets that include “link building” to create a feed. I can then browse at my own pace, looking for interesting angles that I can use in my next blog post.
Do not worry about being too specific with your alerts. To find niche topics that are not mentioned often, it's better to track broad terms. Clearbit's head of content Janet Choi discovered that people need guidance and tips by monitoring terms such as “email marketing” or “lifecycle email”.
She also discovered people who were talking about spam filtering and deliverability. This allowed them to create content that addressed these issues, which was more actionable and specific than any other.
4. Improve Buyer Personas
Buyer personas provide detailed information about your target audience. These personas are usually based on a fictional individual but supported with real customer data.
They are extremely valuable. HubSpot research shows that buyer personas make websites more efficient and easier to use for target users. They can increase email open rates by 14% and convert rates by 10%.
Many businesses have buyer personas. But how accurate are they? Do they reflect your marketing team's impressions or are they supported by data?
Your buyer personas won't be as credible or accurate if they're not based on data. To create fully-fleshed buyer personas that are useful and useful, it is crucial to have accurate customer data.
The best part is that almost all businesses have access to the data required to create these types of buyer personas: Google Analytics.
You should pay attention to the Audience Reports section of Google Analytics. This section contains a variety of data reports that you can use for the creation of buyer personas.
Pay attention to:
- Age and gender reports
- Interest reports
- in-market segment reports
- Geo reports
- Device reports
These five reports will give you a clear picture of your customers' age, gender, location, interests, purchases, and how they access your website.
Acquisition Reports can be used to track where users are coming from, and Behavior Reports can be used to track how they navigate around your site.
Once you have all that information, you can follow my guide to creating user personas and start creating your own.
5. Increase One Marketing Channel with Data from Another
If you are looking to improve or launch a marketing channel, you don’t have to start from scratch.
This is a good thing because, while most brands can afford to invest for a limited time in marketing channels that don't work, few can afford to subsist on marketing channels that fail completely. Why would you?
This can be done for any marketing channel. Email open rates, for example, can help you identify potential blog topics. Live chat queries can help identify new landing pages. Your Instagram data could help you with your TikTok strategy.
PPC data can be used to improve website copy by virtually all brands. Ubersuggest is a great tool to determine the most popular search phrases and see keyword volumes. These keywords are not intended to convert users, but attract them.
PPC copy is quite the opposite. Ads are purely copy-focused so there are few other variables to take into account. It's almost certain that the copy is the reason why one ad converts better than the other when targeting the same keyword.
Hiresquare founder Rick Vugts says that this strategy is used by the gig marketplace Hiresquare.
Data can be used in many ways to market our website. PPC data is used to optimize web copy for SEO. There are many keyword tools, but they all serve as estimation tools. We can learn a lot about search volume by running a PPC campaign in a very short time. The keyword query report will show all possible combinations.
Bonus: Marketing with Proprietary Data Analysis
These strategies show how data analytics can be used to improve your current and future marketing campaigns. You can also create an amazing marketing campaign by using data analytics, especially if you have access a lot of data.
Because no one else has access, you can create campaigns that no other brand can match. Although you can use your proprietary data in any way that you like, there is only one company you should look up for inspiration: Spotify.
The company uses proprietary data to enhance the customer experience through suggested artists, Discover Weekly and Spotify Wrapped. They also use the data to create attention-grabbing ads.
Spotify launched national campaigns in 2016 to highlight users' listening habits. This Valentine's Day gem was included in the ads:
There's also this one with a Brexit theme.
It was so popular that it was re-issued the following year. This campaign contributed to a tripling in Q1 revenue.
Commonly Asked Questions about Marketing with Data Analytics
What is the use of data analytics in marketing?
Data analytics can be used to measure and track your marketing campaigns. Data analytics can improve all channels, including SEO, email, PPC, and your website.
What are some examples of marketing analytics?
Marketing analytics can be used to optimize your website using data from A/B testing, create SEO content based upon keyword research and social listening and personalize website content based user behavior.
What's the value of data analytics for marketing?
Marketing data analytics is essential. Data analytics in marketing is vital. It allows you to make better decisions, improve the quality of your campaigns, as well as leads to greater conversions and revenue.
What types of marketing data analytics are there?
There are many types of marketing data analytics. These include SEO analytics, website analytics, SEO analytics and PPC analytics.
Conclusion: Marketing with Data Analytics
Analytics is not enough to track your campaigns. Data analytics is a key component of marketing.
Start by using tools like Ubersuggest and Google Analytics that offer useful audience data insights to your digital marketing campaigns.
Social listening tools such as Mention allow you to see what others are saying about your brand so that you can respond in your marketing campaigns.
To ensure that you make the right decisions about your campaigns, run A/B tests
Final, track and measure the success of your campaigns over time. This will allow you to use that data to make future marketing decisions as well as budget planning.
Marketing with data analytics has clear benefits: less guesswork, better decision-making, improved customer experiences and better results.
What data-backed marketing strategy will you first try?
By: Neil Patel
Title: Master Marketing With Data Analytics: How to Get Sustainable Results
Sourced From: neilpatel.com/blog/integrate-analytics-into-marketing/
Published Date: Tue, 22 Mar 2022 18:00:00 +0000