How to Use Data Analytics to Improve Marketing Strategies
With changing customer demands, marketers have turned to data-driven marketing campaigns to stay ahead. Insight-driven marketing provides better opportunities for marketers to leverage data analytics collected from continuous customer interactions. It improves performance and optimizes digital marketing efforts.
A recent Altimeter Report shows that businesses are embracing data-driven campaigns, with 41% of businesses prioritizing data analysis skills when hiring digital marketers. However, data-driven campaigns are not possible if companies don’t have useful data. Marketers should know how to collect, organize, analyze, interpret, and use data to improve their digital marketing efforts.
Below are a few ways marketers can use data analytics to improve their marketing efforts.
1. Restructure their Customer Persona
Businesses can use data analytics to transform their marketing strategies by changing customer approaches. Approximately one-third of digital marketing experts believe that businesses can understand their customers better if they use the right tools to collect crucial information. Fortunately, 44% of businesses already have reliable data management platforms.
These figures show that more marketers are proactively using data analytics to better understand their customers. Modern customers have evolving interests, values, behaviors, and pain points. Having a system to monitor these changes can keep your business ahead of the competition.
2. Improve Customer Journey
More than 90% of digital marketers agree that understanding user journeys across different devices and channels is important. Therefore, you should use analytics to rethink and improve the customer journey. Data analytics can help remove the guesswork in your customer journey and create a seamless experience.
Data analytics tools, like Google Analytics, allow businesses to track metrics that show how customers engage with your brand and website. Crucial factors to remember when re-envisioning the customer journey include;
- Content drill down – check your content drill down and identify pages that your customers visit the most. Moreover, by doing this, you identify opportunities to improve these pages. Analyze the top 10 or 20 pages and use insights and your new customer persona to include features that appeal to your client base and improve engagement.
- Bounce rate – The bounce rate shows how people behave on your website. Do they leave your website after visiting only one page? A high bounce rate means that you should create more relevant and engaging landing pages.
- Exit pages – even though people can’t stay on your website pages forever, you should monitor if specific pages trigger them to leave.
3. Create Personalized Marketing Campaigns
Unlike before, modern customers expect businesses to understand their interests and needs on an individual level. Fortunately, with the help of consumer data, digital marketers can roll out effective and highly personalized campaigns. For instance, brands can use customer data to categorize a specific target audience for upcoming email campaigns.
Personalizing marketing campaigns enables businesses to connect with their clients one-on-one instead of the previous one-size-fits-all marketing message. For instance, a McKinsey survey found that personalizing your marketing campaigns can improve sales by 15 to 20%. Personalized marketing strategies also improve ROI across the marketing channels.
Interestingly, personalization seems easier said than done. Brands should choose an effective marketing automation platform that streamlines their personalization strategies.
The Bottom Line
Data is the new gateway to customer insights, behavior, interests, and more. Using this information, brands can revitalize their marketing strategies. Thus, enabling them to deliver accurate marketing messages to the right people at the right time using the right channels. As with other industries, big data is a must for brands that want to improve their decision-making, understand the customer journey, and improve their general marketing efforts.