How important is your data?

How important is your data?

I’ve met many top marketers in my time and yet you’d be amazed as to just how many simply over look the power of their data whether its campaign performance or the raw sales potential of their existing lists.

Consider the following great marketing tips and maximise your sales potential!

Principally there are two key sides to data, analytical (don’t be intimated – it’s much easier than you might think) and prospect potential (there’s gold in d’em d’ere hills!).

Analytical

“The key to success? Test and measure…”

They key to any good campaign is the ability to test and measure, yet many either don’t have the time or simply shrug off the idea as an impossibility, yet the truth is, it’s easy and can increase your profits by 10, 20, 50 or even 100’s of percent!

Once you know the results of a campaign you can test something different to get a better result next time!

Effective marketers never stop testing and measuring, they apply what they’ve learned from one campaign to enhance another, in turn this means their marketing gets better and better with more engagement and sales – so keep testing and measuring to improve your campaigns!

When testing, consider:

  • Different Marketing Headlines.
    Test different headlines to see which works best for your target market, try different questions i.e. “When do you need to rebrand?” or teaser headlines i.e. “Leading entrepreneur reveals 5 secrets to marketing success”.
  • Different Styles of Copy.
    Test different writing styles to find which gets the most engagement from your target audience such as descriptive, narrative, expository or persuasive style of writing.
  • Different Images.
    A picture is worth a thousand words, but the right one is worth two, “yes please”. Test different images to support your core marketing message and monitor the results.
  • Different Colours.
    Sometimes simply changing the colour of the call to action button or highlighting key words in your copy can dramatically increase campaign performance, test different colours to find which can support your marketing.

It’s important to remember, for as long as you test and measure there is no such thing as a failed campaign but rather a bad result which you can learn from and perform better next time!

Who, how and where?

From your data you can also find out who your best clients are, how to reach them and where to find them to get the greatest return on investment, even with the smallest of information you can discover new opportunities to enhance your marketing.

Where to start?

Make a list!

As the type of information you want to record will vary greatly from product to product and marketing medium to marketing medium the first thing you’ll need to do is make a list of what you’d like to record.

Consider recording the following types of information to profile your data and review your campaigns:

Male vs Female (Demographic Data)
If you’re recording the sex of your client base you may discover some interesting results that change how you market your products and where, did you know men also use hair straighteners and anti aging cream?

Your data can tell you who your best clients are.

Location (Geographic Data)
Knowing the location of your clients has many benefits it can influence your style of language and identify the best areas for you to target.

Your data can tell you where to market your products and services for increased engagement and sales.

Age (Demographic Data)
You might discover your product is age specific which can influence not only how you market the product but where.

You data can tell you how to market your products and services.

Activity and Interests (Psychographic Data)
Identifying the interests and activities of your clients can present some interesting marketing opportunities, for example you may discover your clients like playing golf as to which point you could consider offering a free set of golf Tee’s with every purchase they make.

Your data can tell you how to reach clients.

Marketing Performance:

Device type

You might discover a large percentage of your web visitors are mobile users and they have a high bounce rate (people landing on your website and bouncing off to another site) this would suggest your website is not mobile friendly and you might consider optimising your website for mobile devices to increase enquiries from this device source.

Average Time on Site

This metric can be used to help define how engaged a visitor is and when used in relation to other data types you can identify the source of this visitor in efforts to drive future similar traffic i.e. Website visitors from London have spent the longest amount of time on your website, you may consider new innovative ways to acquire more traffic from this geographic location.

Number of Clicks

By monitoring the number of clicks generated by a particular marketing medium you can gauge how engaging the marketing is. If used in relation to other profiling data you can identify not only the most engaging marketing medium but also by client type. i.e. Your website banner that markets cruise holidays received the most clicks on a blog website “50 going on 22” which targets a more mature audience.

Essentially your data tells a story of who, how, where and why all you need to do is put the information together to find out your customers story.

Check back next week for part 2 – Customer Data – A gold mine of opportunity!

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