When building a multi-channel marketing campaign, the way you use and analyze your data can increase the response rate. But using this operationally focused information still proves challenging.
When building a multi-channel marketing campaign, the way you use and analyze your data can increase the response rate. But using this operationally focused information still proves challenging. There are many variables when using data and analytics. Since it’s no longer a fad but a reality, here are a few techniques to get you started.
1. Treat data as an investment
Your data is like any other company asset. You need to manage it so it delivers the results you want. Data must be accurate or your analysis and ultimately your decisions could be flawed. Accordingly, you’ll need to retool data management frequently because of the ever changing faces of human nature. Replenish your data with any new information received from existing customers. New customer information may signal an opportunity for new services or products.
2. How to begin to measure your analytics
As with data, you must establish your key performance indicators (kpi’s) and how you interpret them. Get into the habit of using metrics to see if there is a deeper meaning with the numbers. You should translate your performance into a predictor of customer behavior. To do this, first ensure that your metrics platforms are able to track four primary types of analytics:
- AMOUNT – How many instances of a particular action are occurring? (Tracking the pages people are visiting on a daily basis.)
- SOURCE – Where do the prospects come from? (How many visitors to a website came from the latest email newsletter?)
- NATURE – What do prospects experience on your site? (The value of direct marketing fundamentals. 156 visitors read an article on 7 steps to create a catchy headline).
- RESULTS – What do prospects do on your site? (What was the motivator?)
Google Analytics® is a good beginner’s tool that provides just what you need. For example, try it to answer questions about your customers while assessing their data from a recent campaign.
3. Creative thinking is important
If you ever feel rushed or find it harder to focus, which is not a good time for creative thinking? Try assigning the reset mentality to a specific activity. Stop and listen to music, take a short walk, or get up and get a drink of water. A small break such as this can blow out all the tension and clutter in your mind, and that can restore your focus. Ten to fifteen minutes can mean that next idea you need to come up with by the end of the week.
4. Answers you get will affect marketing strategically
Objectively interpreting your data can be extremely overwhelming. Your strategy must have correct insights from other campaigns to make the right sense of your data. Narrow your focus to the metrics that will provide the most relevant insights. This is where your kpi’s for your website or any other communication channel you are measuring will help to narrow your focus. The most common metrics are the conversion rate, revenue, cost of acquisition, click troughs or another performance metric that interests you. Whenever in doubt, always return to your business strategy for data and metrics to make sure you are on the right path. Ask yourself, “Do we have data to support that?”