How Data can Help you Make Smarter Marketing Decisions


One big distinction between excellent marketers and average marketers is that they pay close attention to data trends and derive marketing decisions based on facts and figures. When marketing strategies blatantly emerge from following others who are successful or are simply a result of one’s limited knowledge or current trends, without relying on one’s business’s specific problems or condition, it is likely that the anticipated results might not be achieved.

Marketing decisions taken in the light of data turn out to be successful and more profitable for ventures, as they put much emphasis on ground realities pertaining to gains and losses. Here, the article talks about how data helps business ventures and entrepreneurs to make smarter marketing decisions.

Social Media Reports

Clearly, one of the biggest sources of customers is social media, and more marketers are looking forward to investing in social media marketing. Owing to this fact, it is important to update figures of the leads generated by each social media channel. It is important to look into the sources through which customers come across one’s products or services.

For instance, usually when we are scrolling down the Facebook page and see an advertisement which interests us we are most likely to click on it and move onto the page selling that product.

Whether it is through emails, Instagram or PPC, identifying which portal generates more leads, can eventually help marketers to pay more attention or invest in specific portals, rather than equally treating all or investing more in the less-contributing one.

Creating Brand Awareness

From bringing out, Sassy twitter feeds to come up ways to engage people through influencers is now making a great impression on people. This trend is beneficial for all the influencers are known to present your products or brand on their post; which eventually is known to bring in customer engagement and awareness about your brand of products. A brand can be registered online via India Trademark Registration and can be used to secure the brand identity.

Using Branded Packaging

When people purchase online they expect a shipment that is like any other postal shipments in a brown box that contains their product but, if they get products in packaging that is unique, it is going to make your service or product stand out and create a trademark among consumers.

The technique for engaging consumers can be seen to be opted by Loriel, Nykaa and Amazon. They include their brand name on the packaging itself.

Customers

One of the smartest ways to make effective marketing decisions is to pay close attention to the customers and their needs. It is important to understand that why do a certain section of the audience visit one’s page or how can they be converted into potential customers.

What do they find appealing and do they really like the what a venture is doing?

Answers to such a question can only be achieved through attribution reports, in other words, data regarding the consumers and their engagement rates.

What if consumers actually like what a venture is doing and are thinking of trying them out, or what if consumers or a consumer doesn’t like what is being offered? How do the marketers come to know about these? The obvious answer is through data, that allows them to reform or refine themselves based on the indications made in the reports. Viewing things from the perspective of a customer, helps entrepreneurs to gain more leads and more customers as they are deriving changes about customer demands.

Revenue

Almost everything in the business world is tied to the amount of revenue a venture generates. And clearly, less revenue is indicative of some shortcoming in the product or service or rather the way in which it is marketed. 

Revenue or income generated is the most powerful index of assessing that something is not right with the way one’s product or service is ending up financially. Hence, most often, with revenue, marketers are under pressure to try something else in promotions and has been the most powerful influence other than any other measure. This is usually done by looking into marketing qualified leads (MQL) that actually converted into an actual customer and actually saves ventures from landing into trouble without much revenue, if marketing strategies are not changed in the light of low MQL.

Conclusion

Data consisting of facts and figures have always proven to a be reliable source for driving strategies and bringing more smarter techniques in. Paying close attention to a company’s requirements or specific shortcomings is an also necessary, as without appropriate evidence backing every reason why a venture is not performing up to the mark will only convert into less efficient strategies and faulty decisions. 

What is even more necessary is to attend to the trends as displayed by the consumers on pages and portals, as all strategies are aimed to get more attention of the audience which can turn into potential customers. And content must be paid greater attention as that is one of the major reasons behind customers interest, frequent visits and the possibility of them turning into customers. 

Overall, data has to be and must be a part of regular evaluations, apart from revenue, as it has the potential to rescue ventures from failing and help them in succeeding.

Post a Comment

0 Comments