Why marketing data is important
Posted on 2nd March 2023
Marketing data about your customers can help you increase sales and improve service. Often businesses feel they don’t have enough information but can also find it difficult if they have too much. The answer, of course, is to have enough of the right information.
Why is marketing data important?
Collecting information about customers, their behaviour and preferences can help you make better decisions. With the right data analytics tools, you can find new ways to develop products and services to meet their needs.
While many businesses are interested in data, doing something useful with so much information is a challenge. However, the effort is worth it because it can help you gain an advantage over your competitors.
Finding the right marketing data
Knowing how you will use data is the first step, so understanding marketing analytics is important. Traditionally, increased sales following an advertising campaign might be all the evidence needed that your marketing is working.
More recently, content marketing has become an important way to find out about your customers’ interests.
Data can really make a difference when you learn something new. You can understand what drives customers to your marketing channels, their conversion rates, and your marketing reach.
The data you collect could vary according to what you would like to know. You could prioritise the most popular pages on your website. It could be important to know the time of year your customers are likely to make a purchase. So, you’ll need to ask yourself: ‘What will really make a difference to my business performance?’
Understanding your customers
Whatever data you collect, it should help you understand what your customers want and how they are likely to behave. It’s important to look at what motivates your customers rather than what you want to achieve.
A source of useful information that’s often overlooked is how customers think and feel after buying something from you. Don’t underestimate the value of customer reviews or sending a follow-up email to ask if there’s anything you could improve. If you deliver excellent experiences you will build loyalty and increase follow-on purchases.
You might even want to go a step further and ask customers if they would become case studies. Their honest input about what you’re like will be very convincing for other potential customers.
Collecting marketing data
Once you’re clear about how to use your data you can create a strategy to collect what will be most useful. The good news is that there are many ways to collect it automatically. Take a look at Google Analytics or the built-in tools on email platforms like MailChimp.
Quick Response (QR) codes can be used to direct people straight to a specific page on your website. You’ll be able to see how well your printed advertising or social media channels are working for you.
Personalisation allows you to send the right information to your customers at the right time. Accurate marketing data can help you plan when and how to send these messages. You can improve your conversion rates or introduce new products.
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