As marketeers we strive to reach our target audiences in the most effective way. This means we want to know where our audience is and what's on their minds at all time. We want to use this info to reach them on the given touchpoints and wishes. But do you know everything about your target audiences and are you sure of the decisions you make? There's a change that the data you trust is not as great as you once thought. Quality of data is crucial if you want to make good marketing decisions.
Using data in your marketing strategy pays off. A study by consulting firm McKinsey shows that companies that focus on data when making marketing and sales decisions have a higher marketing return on investment (MROI) of 15 to 20 per cent. But how do you find this data? And how do you effectively use it to improve your marketing activities?
High quality data
There are countless sources for data. That' s why it's important to make critical decisions about the data you want to use. Think about why you want to use a specific source and write down SMART goals in order for you to keep track of the quality of data.
Don’t save all the data you can find. Start small and slowly start tracking more and more. Think about what is ‘nice to know’ and more importantly what is ‘need to know'. Where to start? I suggest to start within your own organisation and see what your colleagues already know. What can the sales department tell you about your customer. What problems do your customers face according to your support department? When you have all that mapped out, look at the information that you ideally want. Some interesting external sources are website analytics, a competitor analysis, market research and web analytics.
How do you make better data driven marketing decisions? Your audience is continuously moving and therefore you won’t reach them in one place only. Talk with your buyer and see how he eventually found you. Combine this information with other sources such as website analytics, a competitor analysis and social media data.
What tells data about your audience?
Let’s take a look at Adidas for example. Social media monitoring shows that in one month more than 17.000 messages were posted about Adidas on Dutch social media. More than 7.500 of these messages are related comments and do not explicitly mention the brand Adidas.
When we zoom in on trending topics, we immediatly see what people are talking about when discussing Adidas. This way you directly see what is trending amongst your audience. You want to use this important information twhen you are targetting them with your own messages.
A quick glance at the most popular sources shows which platforms the audience used most. For Adidas we see that Twitter, Facebook and Instagram are important channels. Insights that show you where you can reach your audience.
Do you know what drives your audience on both a professional and a personal level? Great, you can use this to search for social media profiles that match your keywords. Are you looking for marketers? Then simply search for all profiles in your geographic area of choice that have words such as marketing, marketer and marketeer in their profile. The results can be bundeled into a list which can be used to monitor this group for favorite media sources, trending topics and more.
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