Why data-driven marketing is important and what opportunities there are
What can the world suddenly look different. The pandemic we are dealing with is turning everything upside down. Nevertheless, we notice that many activities continue as usual and that the importance of data-driven marketing can now be demonstrated more than ever. Because how can you better demonstrate the ROI of online activities when offline activities are kept to a minimum?
What is data-driven marketing?
Data-driven marketing has been a huge buzz word for ages. Call it digital marketing, online marketing or customer marketing. I think data-driven marketing is a valid term, because it indicates exactly what it is all about: data. Most marketers know better than anyone that data is the basis for insight and making the right choices.
So data-driven marketing is nothing more than basing your marketing efforts on data. Note that interpreting it is extremely important and the human view of data should not be left out.
Best practices for data-driven marketing
Three things are very important to organize this properly.
• Support from the management team is required for this approach
• The right questions must be asked
• There is actually something to be done with the data and results
Support from management
It is important that the decision-makers in the organization fully support the data-driven approach. Processes and KPIs are fully geared to this. And if the MT favors this approach, it’s time for them to put their money where their mouth is. Investments must be made in the right people and the right tools. Tools must provide insight into data, they must be integrated with other tools that are used and there must be continuous attention to how tools can be used optimally. As you notice, this approach requires dedication and that is not possible without support from the MT.
Asking the right questions
There are countless companies that have availability about data, but then do little with it. When you work data-driven, I recommend working with hypotheses. You need good analysts who can ask the right questions, make the right analyzes and translate this into appropriate decisions and optimizations.
A handy one that is used in online tests and optimizations is the PIE method. PIE stands for Potential, Importance and Ease. In this way you determine which aspects are important and which adjustments have the most effect. A very efficient way of data-driven marketing.
Actually do something with results
Even if you have analysts who draw the right conclusions and tools that provide all the insights, your data-driven approach is not yet successful. You have to do something with the insights! You also need the right hands-on capacity in your team. Do you want to know more about which team will bring you success with a data-driven approach? Listen to the podcast about this. (link to podcast https://marketingguys.com/nl/podcasts/een-toekomstvast-marketingteam-bouwen-interview-hans-molenaar-directeur-beeckestijn-business-school/
What opportunities do we see now?
We are at a time when social contacts should be kept to a minimum. Many organizations generated leads through fairs and events. Sales had many face-to-face meetings that generated revenue. But how can you be successful now?
Use the time to properly set up all analytics and measuring instruments
As indicated earlier, now is the time to demonstrate the value of online marketing once and for all. Make sure you have the right tools and that they are arranged in such a way that you measure the right things. Do you want a check on your Google Analytics, Marketing Automation tool or online dashboard? Schedule a free call with our experts and we will advise you!
An online demo instead of a demo by sales
Sales can no longer do face-to-face meetings. But new business must be generated! A good tip is to record online demos. Let the sales persons make a video to explain your solution or service. This also lowers the threshold for prospects to request a demo and thus guarantees higher conversion!
Focus on your existing database
Sometimes the focus in marketing and sales is mainly on new business. This is of course very pleasant. Just don’t forget the people who already know you! Certainly at a time when face-to-face meetings are excluded, it may be difficult to generate customers who do not know you at all. Often a prospect wants to see if there is a click and preferably by a personal meeting.
The existing database is often full of opportunities! There are prospects who have said that the right time to become a customer is not now. Pick up the net and see how it is now.
Ideally, you have always done this through a structured collaboration between Marketing and Sales. We call this a “renurture process”: lost opportunities are reheated by marketing until they are Sales Ready.
Also think of cross and up-sell during this time. For many companies, the business now just continues. Existing customers are the so-called “low-hanging fruits”. To realize this, you can use a “did you know that campaign”. In this campaign you send segmented information to existing customers about the services they do not purchase. You literally tell them: did you know that we do this too? Did you know that we achieve success with service X? Make this campaign as specific as possible. Use examples that apply to the industry of that customer. You can count on these tips to keep the business going in times of social isolation!
Do you want to quickly boost your business during this time? Book a meeting with me and let’s connect!