Every business wants to make data-driven decisions, but not every company knows how. In fact, according to a recent study by Salesforce, only 37% of companies say they’re very good at using data to drive their marketing decisions.
If your business isn’t leveraging data to its full potential, it is time to start.
1) Understand What Data You Have and Where It Comes From
The first step in using data to drive marketing decisions is understanding what data you have and where it comes from. This might seem like a no-brainer, but you’d be surprised how many businesses don’t have a clear picture of their data landscape. Sit down with your team and list all the places you collect data, including website forms, CRM systems, email platforms, social media platforms, etc. Once you understand all the places you collect data from, you can start to analyze it.
2) Analyze Your Data for Insights
Now that you know where your data comes from, it’s time to start analyzing it for insights. Look for patterns and trends in your customer behavior. What do they like? What do they dislike? What are their pain points? Answering these questions will help you better understand your customers and make more informed marketing decisions.
3) Use Data to Drive Decisions
Once you’ve identified critical insights from your data analysis, it’s time to start using them to drive marketing decisions. For example, if you see that a specific type of customer is more likely to convert, you might want to focus your marketing efforts on attracting more of those types of customers.
Or if you see that customers who visit your website on mobile are more likely to convert than those who visit on desktop, you might want to invest in more mobile-friendly marketing campaigns. The possibilities are endless! Remember: the sky’s the limit when using data to drive marketing decisions.
Data is one of your business’s most valuable assets—if you know how to use it properly. By understanding what information you have and where it comes from, analyzing it for insights, and using those insights to drive marketing decisions, you can take your business to the next level.
So what are you waiting for?
If you’re worried about getting it right or that finding and analyzing the data from your Instagram Ads and Facebook Ads is easier said than done, you’re right to be hesitant. While the idea is pretty simple, the execution might not be!
There are many moving parts when it comes to an understanding and using your digital marketing data to inform your advertising strategies—too many for most small business owners to handle on their own (or even with a limited in-house team). If any of the above sounds like too much to handle, it might be time for you to consider partnering with a digital marketing agency. Providing professional help can make all the difference in achieving success online.
Send us a message today to see how the Pink Shark Marketing team can help you set up successful Instagram Advertising, Facebook Advertising, and even Google Advertising campaigns that utilize your consumer data to direct your customers to an award-winning, conversion-optimized sales funnel. We also offer services for building a Shopify website, increasing brand awareness online, and more!