Marketing data is an essential part of any good marketing strategy. While the process of collecting, storing and analyzing data may be complex (and require an advanced math degree), understanding and harnessing the power of that data doesn’t have to be. Wondering how data help make your organization’s marketing better, stronger and more effective?
We asked some innovative Marketers and Growth Hackers how they use marketing data in their everyday lives to improve conversions, engage target customer and so much more. Here’s what they had to say…
What role should data play in Marketing?
“When SaaS founders collect and use quantitative and qualitative data correctly to inform their product design and marketing strategies, they can and will avoid most common pitfalls. Most importantly, they will produce a product that people need and want, finding problem/solution fit (and product/market fit too).”
“Data needs to play a role the decision-making process as it relates to moving customers, leads and prospects through the funnel. Technology has armed us with the ability to truly understand more about our customers, leads and prospects than ever before. From the earliest touch point to the actual usage of a product – we can measure actions, track behaviors and optimize the user experience to lead them towards your brand’s goals and objectives.”
“I see lots of uses for data in marketing and growth hacking. First, I use data to help prioritize what strategies to implement. Second, the data itself can be powerful content to help tell a story to the audience.”
“I believe data needs to be used to determine the true effectiveness of a campaign, specifically looking traffic. Intuition is a great starting point, but data doesn’t lie (only those that misinterpret the data).”
How do you use data today?
“We add custom SRC codes to every article we promote based on the social channel we’re promoting to (e.g. ?src=get-more-traffic-linkedin). This way I can quickly go into Google Analytics later and see exactly which channels (LinkedIn, GrowthHackers, Quuu, etc.) are driving the most traffic and which ones aren’t.
When we start a new experiment (like we’re doing with Instagram) this kind of tracking is incredibly useful so we know exactly how much traffic and how many signups we’re getting from that channel on a week to week basis. “
“Usage data gives us insight to areas that previously were considered black holes. Time and energy is spent on, for example, getting prospects to sign up for a free trial, but when they do or do not convert from free to paid, how do you explain that decision? Certainly there are many influential factors in a decision, but by tracking and comparing the engagement patterns of converted trials vs non-converted trials, we create a model that helps to predict the likelihood of conversion for a specific account.”
“We use data to understand our entire funnel, from acquisition to activation and revenue. For example, our data shows us that desktop users convert at a higher rate than mobile users, meaning we shouldn’t spend money on mobile ads until we improve the mobile experience.”
“We used an extreme amount of data when we redid our website that allowed us to architect some customer profiles for the first time. By figuring that out – we were able to double site visits within one month (from 150,000 to 300,000) through better social media, email and referral posts.”
“Data helps me create targeted content for my audience. When I know my readers’ sentiments and desires, I can create content that adds value to their lives. Data takes the guesswork out of the equation.”
– Shayla Price (@shaylaprice), Content Marketer
What is the future of data in Marketing?
“Artificial intelligence and automation are the future of marketing and is just at its infancy. We haven’t even scratched the surface of predictive marketing. Lookalike targeting is just the precursor to what will eventually become, pretargeting — using data to effectively and efficiently predict future buyers.”
“It’s going to be in the center of everything marketers do; knowledge and expertise in tools like Import.io has actually become one of the parameters on how we assess future marketing candidates.”
“I see the opportunity for software to standardize the growth marketing process. There are too many spreadsheets and Trello boards still involved in a growth marketer’s workflow. I also see data platforms integrating with these softwares to make it easier to measure experiments more easily and effectively over time.”
“Multiple data sources will help make marketing more precise and scarily accurate in the future. You’re already seeing this with 3rd party data pulls that companies like Facebook or Quantcast use to create lookalike audiences.”
“Software will continue to get better to help us track things more granularly. For example: right now marketing attribution is still a challenge. Over time, though, I think we will see tools that help us understand our users much more in depth.”
“The word “insights” is used very loosely these days to refer to what is actually still just raw data–unusable and meaningless without some kind of human interpretation. But I do think we’re on the cusp of a wave of products that deliver truly automated insights that don’t require a person to do the grunt-work of understanding the meaning and implications of patterns observed in the data. This will level the playing field as a growing number of marketers will be able to shift their focus from interpreting data, to acting on it.”