Data-Driven Marketing Strategies: 15 Metrics to Measure Effectivness
How to Create a Data-Driven Marketing Strategy
To create a data-driven marketing strategy, you first need to choose a data platform that can be used to organize all the data you have collected and keep track of your data sources. Depending on your objectives, you might need to develop a team or leverage in-house or external resources to help you extract information and gain insights from the data. Once you have access to the data, you need to use it to generate insights that will help you make informed decisions about your marketing campaigns. A good data platform may have these capabilities built in, so you may not need to do any additional work. However, if you want to generate more detailed insights or if you want to analyze your data in separate ways, you will need to use tools like analytics software. After you have selected your channels, it’s time to put together your plan of action.
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After you have selected your channels, it’s time to put together your plan of action. Depending on your data, you may need to focus on a particular channel or use multiple channels in combination. For example, if you want to increase traffic to your website from social media, you might start by using social media as part of an overall marketing strategy. Or, if you want more people to see your ad campaign on TV, you might target specific market segments with ads.
Now that you know where and how to apply the different channels let’s look at ways to measure their effectiveness.
Measurement is the key to understanding what works and doesn’t work for any channel.