Data is key to determining the best strategy to connect with clients and potential customers, but it is important you know the ins and outs of data-driven marketing.
Correctly and comprehensively interpreting data will effectively provide a clear picture of what people think about your business. There will be more questions when getting the critical assessment results, and these metrics are needed to adjust your strategy.
Market research is more challenging for business-to-business (B2B) companies. However, they can use search tools like Google Trends or Google Analytics keyword tools to obtain results. They also can search through influencer and stakeholder interviews. From there, they can conduct B2B market research in numerous industries that are highly effective in offering detailed, in-depth data. Surveying your email lists sometimes can also give valuable market information, depending on your database size and the questions you plan to ask.
With these tools companies can interpret data effectively to determine concerns and key points. You can gain a clear picture of what people really think. Also, there will be more questions when getting the critical assessment results. These results are needed to adjust your strategy.
By tracking marketing campaigns and comparing them to revenues, you can greatly interpret data for marketing. Revenue performance and lead campaigns may look similar, which makes it hard to choose the campaigns to optimize or scale.
However, you can carefully see the relations between the direct response and tactics. Impressions, likes and cost per lead can be primary indicators, but the marketing spend return drives success.
Quarterly examination of your company’s strategy entails website and social media metrics, which will give you a more accurate look and feedback of the data and enable you to adjust your marketing strategy accordingly.
Increasing the frequency of reporting metrics informs strategy and adds value. Monthly or weekly sales enablement, feedback reports, press effectiveness, the sharing voice against competitors and more can help your key decision makers perform the required adjustments to marketing activities.
The purpose of this is to introduce metrics that inform strategy and add value. You can obtain monthly or weekly sales as feedback reports. Getting various other reports is important also for press effectiveness, and it can inform the overall marketing strategy. Obtaining significant reports on a frequent basis also assists decision makers to perform required adjustments.
Define the metrics that matter by pinpointing the organizational goals and choose which metrics are valuable. These metrics can include volume, efficiency, velocity, effectiveness, value and engagement. It just depends on which metrics are important to your business.
After choosing the relevant metrics, discover the activities that generate the desired outcomes. And remember, you should implement marketing strategies that lead to efficient results and continually manage and maintain what is working well.
You can gather relevant feedback from websites, mobile apps and social media. Each one of these sources has analytics showing how many companies are searching your products/services, which product/service is being viewed more often, which ones are not being viewed as much, what is being said in forums, etc. This way, you can gain a better understanding of potential clients from various industries.
For data-driven marketing strategies customized for your business, consider the expertise Demand Work Media offers. Demand Work Media specializes in B2B demand generation, content syndication and more. Contact us today!