In a changing marketing landscape, data analysis and insights give organizations the information necessary to measurably grow their business, spend their budgets wisely and compete effectively.
There are many ways in which careful and strategic data analysis can result in the growth and success of an organization, including:
Data analysis takes raw information, such as how many leads a campaign generated, and delves deeper. By revealing the marketing decisions that yield the greatest impact and ROI, data analysis allows your company to better put your resources to work.
As we’ll explain more later this month, data-driven marketing has killed the yearly marketing plan. Successful digital marketing responds to what’s working, when it’s working. Track results and adjust your company’s approach as you go.
Digital marketing is often mediated by search and social algorithms. These algorithms are periodically changed as major players like Google and Facebook decide they can improve the user experience with updates. Data-driven marketing adapts as algorithms change, instead of continuing outdated “best practices.”
To grow, an organization must not only reach many people, but reach people with purchasing power. Data-driven marketing helps your business target and retarget ever more effective campaigns, to make new connections and nurture existing business relationships. If your business wanted to open an office in a new city, you would need to do research on that market first. Think of digital marketing data as a form of market research – one that allows you to expand your digital reach and grow your business online.
How else does your business turn data-driven insights into marketing success?
Photo Credit: stux via Pixabay Creative Commons
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