Article

Digital Doughnut Contributor
Digital Doughnut Contributor 23 September 2014

Take Your Marketing Effectiveness to the Next Level

It's time for Omni-Channel to take your marketing effectiveness to the next level!

Great new article by Datorama’s CSO, Katrin Ribant, which explains in a very simple way how marketers can effectively engage with their audiences in today’s multi-channel world. Read More

 

As consumers are faced with an ever-growing number of resources that allow them to research, compare and buy the products they want, marketers are faced with an ever-growing number of channels, technologies and interaction platforms that they need to manage.  Managing information coming from these marketing actions in order to understand and better engage your audiences while simultaneously driving bottom line growth is a challenge that, if overcome, creates a huge marketing impact  on business results. From more relevant lead generation for sales in B2B marketing, to higher engagement levels of consumer communities for B2C marketing, better marketing means better business results… and better marketing comes from knowing where you should focus your efforts.

 

This is where marketing intelligence can help you: information is the key to better decision-making. In today’s multi-everything marketing world, information is fragmented across a multitude of ad management platforms, internal information systems and manual spreadsheets tracking results of individual actions and campaigns.

 

Accessing this information and putting it together in a coherent way so it can be sliced, diced and drilled for insights (that can, subsequently, help you understand the impact of your marketing actions on your audiences) has never been more important.

Compared to just a few years ago, you can now use a social listening tool to understand how consumers react to your latest ad campaign. Do they like your messaging? Do they think you are talking about topics that are relevant to them?

Even more interestingly, learnings about the effectiveness of a given marketing action measured by customer response in one channel can today be applied seamlessly to myriad other marketing channels.

 

For example, when using a channel such as paid search, you can now measure customer response to your marketing promotions in near real-time and understand if one type of promotion drives better response then another type of promotion. Using these insights, you can now modify the messaging used in other channels such as television or direct mail to make sure you address your audiences in the most relevant manner.

These kinds of insights used to take days or weeks to trickle up to the strategic levels of a marketing department, at which point applying them to any further channel in the same marketing program would take yet another few days, weeks or even months to trickle back down to the operational and execution layers and get implemented.

 

Data-driven marketing is based on using information derived from statistics related to your marketing actions and their effects on customers, prospects and ultimately, your bottom line. The increasing complexity of  the marketing landscape and the growing latitude consumers have in making choices mean that no one marketer can intuitively understand how consumers will react to a marketing program anymore. Although nothing will replace the knowledge of your business and your customers, today’s environment calls for hard evidence to direct your decisions. Accountability is the key to building confidence in marketing decisions across an organization, and the path to accountability is data-driven marketing.

 

To help you foster a data-driven culture in your organization, tools that are accessible and cater to marketers’ workflows and needs are a must. In the face of the growing amount of data and the complexity/variety of data sources involved in marketing, using only Excel is not an option for making serious data-driven decisions today. In-house systems can be important and get you some of the way, but what you really need is a full business intelligence platform that works at the speed of marketing.

 

Originally posted by Datorama

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
The New '4Ps of Marketing'

The New '4Ps of Marketing'

Neil H. Borden, in 1964, gifted the world with the 4Ps of the Marketing Mix: Product, Price, Place and Promotion. This concept has been a cornerstone of business marketing. However, there are new 4Ps of Marketing – just as powerful and just as game changing as Neil Borden’s.

Daisy Kent
Daisy Kent 18 May 2017
Read more
Digital Marketing Vs. Traditional Marketing: Which One Is Better?

Digital Marketing Vs. Traditional Marketing: Which One Is Better?

What's the difference between digital marketing and traditional marketing, and why does it matter? The answers may surprise you.

Julie Cave
Julie Cave 14 July 2016
Read more
4 Important Digital Marketing Channels You Should Know About

4 Important Digital Marketing Channels You Should Know About

It goes without saying that a company can't do without digital marketing in today's world.

Digital Doughnut Contributor
Digital Doughnut Contributor 5 November 2014
Read more
How To Calculate Marketing ROI

How To Calculate Marketing ROI

Calculating marketing ROI is an exercise in patience and accuracy. The formula to calculate basic, short-term marketing ROI is simple: ROI = (Incremental Profit – Campaign Cost) / Campaign Cost. But marketers know that the formula—while accurate—is far too often misapplied to their efforts.

James Loomstein
James Loomstein 16 May 2017
Read more
Forget SWOT, The Pareto Rule Holds The Secret To Your Online Success

Forget SWOT, The Pareto Rule Holds The Secret To Your Online Success

One of the most important principles I've learned is the so-called Pareto Rule. This principle holds particular importance for aspiring online entrepreneurs. If you are a Blogger, Digital Marketer, Amazon Seller, AdSense expert, then Pareto’s Rule applies to your business. Understanding it is vital to your success.

Alex Papaconstantinou
Alex Papaconstantinou 17 May 2017
Read more