Data-Driven Marketing Highlights
Sunday 24th June 2018 08:02pm
By Lachlan Kirkwood
In a world where organisations have access to a myriad of data, it’s becoming more important than ever for digital marketers to leverage this when making strategic decisions. Long gone are the days where marketers could use a spray and pray approach within their strategies. But with data becoming such a crucial part of the digital landscape, how exactly can marketers kickstart their data-driven approaches?
The Networx Brisbane June meet up, aimed to uncover not only the importance of data within digital marketing, but real ways in which marketers can start leveraging data to drive business growth. Moderated by Laura Campbell, this month’s rockstar panel featured the likes of Danielle Lewis from Scrunch, Jarrod Price from RACQ, and Laura Allman from Flight Centre, each bringing with them a unique background using data within their organisations.
The evening kicked off by firstly uncovering how marketers can source the right data that’s relevant to their needs. Jarrod mentioned how important it is to not only connect your siloed data channels, but also consolidate aggregated data into a refined view of each user. As an example, Jarrod referred to the process of identifying multiple user emails for a single person. By understanding which information is most relevant and up to date, it allows your data to remain accurate and useful.
Following on from this discussion, Laura took the time to highlight how important it was for marketers to know exactly what they need from their data sets, and how to actually leverage this data.
“There’s no point in having access to an abundance of data if you don’t know what to do with it”.
When creating a data-driven approach, what metrics should marketers really be focussing on?
Jarrod mentioned that at RACQ, the core metrics their digital team pays attention to are the conversion rates within their sales funnel. This helps identify any potential bottlenecks throughout their sales process.
He also gave reference to the benefit of using a behaviour flow graph. This gives the digital team visibility to the journey users take after they initially convert. At RACQ, Jarrod mentioned that it’s often the case that the user will purchase more than one insurance product at a time, therefore it’s crucial to identify which two products should be marketed together.
When it comes to visualising the right data, Laura mentioned how important this process can be at winning buy-in from internal stakeholders. Large amounts of disparate data can be confusing, so it’s important to represent your data in an easy to interpret visualisation. Using custom dashboards can be helpful throughout this process.
It was at this point that Danielle gave reference to a real-world example where data was used to influence the direction of a digital campaign. At the time, Scrunch was working with a brand to identify potential influencers for a marketing promotion. The brand had expressed interest in working with an influencer who had a large following. Scrunch however, was able to dig deeper into the influencers data and identify that a large portion of their followers were in fact located in Brazil. This location was of course not the target area for the brands audience.
What skills should marketers posses to be data-driven?
As the role of a digital marketer continually evolves, it’s expected that marketing divisions will work closely with internal data science teams to drive more strategic results. It’s now crucial for marketers to formulate decisions based on real-world data, not just instinct. It’s also important for marketers to continually monitor the performance of campaigns, allowing them to react quickly to performance results.
Overall, the panel did a fantastic job of sharing valuable insights into effective ways that brands can leverage data to help drive successful campaigns. The event wrapped up with a final top tip from each of our panellists - you can catch them in the video below:
As an additional resource, Jarrod also shared Gartner's 2017 Data & Targeting Report, which you can download here.
Are you heading along to our July event? Join us at Up On Constance as we focus on Social Media & Content Marketing. You can catch the full event details here.