As I write this, I have multiple tabs and spreadsheets open filled with graphs, charts, and dashboards, each with specific visualisations and insights. I’ve also got various pieces of software running in the background calculating different metrics, a few articles open with the latest about what’s happening with Open AI, and an article about attribution in GA4.
Now, that may sound hectic, but that’s the reality of a normal day for a data-driven digital marketer. Being data-driven is no longer an option but a necessity for businesses to succeed in a super-competitive online marketplace that’s changing every single day.
But what does it really mean to be data-driven? And how can you incorporate this approach into your own digital marketing strategies for 2024 success?
Drawing on what was a transformative year in our industry, I’ve put together some key tips and tricks to help guide you toward being a more data-driven marketer.
What is Data-Driven Marketing, Anyway?
I won’t give you an overly jargonised response, but data-driven marketing is the practice of using data and analytics to inform and improve marketing strategies and decision-making.
In simple terms, it means making evidence-based decisions rather than relying on gut instincts or assumptions.
Here are 5 example scenarios and actions related to SEO and PPC that might drive actions based on your analysis of the data you’re seeing.
|A high bounce rate on a landing page
|Conduct a user experience analysis and make necessary improvements like updating content or images
|Low click-through rate for an ad campaign
|Revise the ad copy and visuals to increase the appeal
|High-performing keywords for SEO
|Focus efforts on optimising content around those keywords with blogs and landing page variations
|Decreased website traffic from organic search
|Conduct a website audit to identify and fix any technical issues and check main keyword rankings
|Low conversion rate for a specific audience segment
|Adjust targeting and messaging to better resonate with that audience and keep iterating until it works
As you can see, data-driven marketing involves using data to inform decisions and drive actions that will ultimately lead to better results.
And what do better results mean? Higher ROI, improved customer engagement, increased brand awareness, and ultimately business growth.
Incorporating Data-Driven Marketing into Your Strategy
Ultimately, knowing the theory is one thing, but actually implementing it into your digital marketing strategy is another.
Marketing leaders are constantly highlighting the importance of data and its role in shaping marketing strategies, and knowing how to use this data is paramount.
So, here are 7 ways you can incorporate a more data-driven approach into your own digital marketing strategy in 2024:
|1. Set SMART Goals
|2. Identify Key Performance Indicators (KPIs)
|3. Analyse Data Regularly
|4. Scrutinise Each Channel in Different Ways
|5. Use A/B Testing
|6. Utilise Automation & AI
|7. Invest in Training & Education for Your Team
1. Set SMART Goals
Before diving into any data analysis, it’s important to set specific, measurable, achievable, relevant and time-bound (SMART) goals for your digital marketing efforts. This will not only give you a clear direction to work towards but also make it easier to track progress and measure success.
2. Identify Key Performance Indicators (KPIs)
Once you have your goals in place, identify the key metrics that’ll help you gauge progress towards those goals. These could include,
- Website traffic
- Engagement rates
- Conversion rates
Depending on your specific goals and target audience, your KPIs may vary.
3. Analyse Data Regularly
Don’t just collect data and let it sit untouched. Make it a habit to routinely analyse and review the data you’ve gathered. This will help you identify patterns and trends, as well as measure the success of your efforts.
4. Scrutinise Each Channel in Different Ways
SEO, PPC, and social media marketing all require different approaches to be successful and aim to achieve different things – with that in mind, make sure to analyse data for each channel individually. You’ll be able to identify which channels are performing well and where tweaks may be needed in your conversion funnel.
5. Use A/B Testing
A/B testing involves creating two versions of a campaign or webpage and comparing their performance to determine the most effective approach. For eCommerce brands, this could mean testing different product images or pricing strategies, while for content marketers, it could involve testing different headlines or CTAs.
See the results from your different campaigns and use that data to inform future strategies.
6. Utilise Automation & AI
Automation and artificial intelligence (AI) tools can help streamline data analysis processes and provide insights that may not be obvious from manual analysis.
They can also assist in identifying patterns and predicting future trends (like our tool), helping you make data-driven decisions in a more efficient and accurate manner – and we’re all for making things more efficient.
7. Invest in Training & Education for Your Team
Being a data-driven marketer requires knowledge and skills in both marketing and data analysis, and those skills are in short supply in the marketing industry right now.
You should ensure you’re investing in training and continuing educational opportunities for yourself and your team to stay updated on the latest tools, techniques, and strategies for using data effectively in marketing.
What’s the Impact of Data-Driven Marketing
The truth is there are multiple benefits and impacts to data-driven marketing, not least that you can attribute results to the work you’ve carried out and invest or request more budget with justification.
Here are a few more impacts of data-driven marketing to consider:
|With access to detailed customer data, you can better target your marketing efforts to the right audience at the right time, leading to higher conversion rates and improved ROI.
|Better understanding of customer behaviour
|By analysing customer data, you can gain insights into their preferences and behaviours, allowing you to tailor your messaging and offerings accordingly.
|With data-driven marketing, you can streamline processes and make informed decisions, saving time and resources in the long run.
|Data is a valuable commodity. By utilising it effectively, you can gain a competitive advantage over other businesses in your industry.
|Improved customer experience
|With the ability to track and analyse data, you can identify pain points in the customer journey and make necessary improvements to enhance their overall experience with your brand.
Being Data-Driven Pays Off When It Comes to Digital Marketing
As a data junkie, it’s a no-brainer for me that being data-driven is key to digital marketing success in 2024 and beyond.
Within the field of marketing, data has been spoken about for a long time, but many have still not taken action to be a more data-centric organisation, and they’re at risk of being left behind.
This certainly isn’t something that’s going to change overnight; it takes time and effort to truly incorporate data-driven decision-making into your marketing strategy.
But with the numerous benefits and impacts data-driven marketing brings, investing in a data-driven approach is definitely worth it.
For help gaining more context of your marketing and campaign data, book a call with me, and we can get a better understanding of how to boost your digital strategy.