The marketing world is always evolving, offering new ways to get your message in front of the right people at the right time. It can be overwhelming to keep up with what’s new as well as evaluate whether or not you should incorporate it. If using data analytics in your marketing strategy is on the waiting list, we’ve got you covered. Answer these 3 questions to see if it’s time to add a data science partner to your strategy.
Are you satisfied with your marketing performance?
Before considering additional services, you should evaluate where you are at. Is your current marketing strategy working? Start this evaluation process by looking at who is responding to your offers. Do you know who they are? What are they purchasing? What is your overall return on investment (ROI)? Part of your evaluation process should also include clarifying what success looks like to you.
If you are relying on the number of promotional products purchased, coupon codes redeemed, or click-through-rates to determine performance, it’s highly probably that you are missing responders. Data analysts can look at the individuals you targeted and match them up with the people who completed a transaction. This response analysis can also show you how much they spent, giving you an accurate look at your ROI.
Do you want to grow your business?
If you are satisfied with your company size and how things are running, then there’s no need to change your process. If you want to grow your business and find new customers, data analyses will help you achieve your goals.
Data scientists can analyze your current customers, create a data model, and then identify prospects who look just like them. You don’t have to guess who to advertise to, take a random selection, or even target an unknown audience. Data analytics equips you to build strong marketing strategies that target a known list of individuals. Instead of wasting resources, focus your efforts on the people who are most likely to respond to your offer.
Are you looking for ways to be more efficient in your marketing?
Marketing waste is something every marketer battles. How do you reduce the number of undeliverable mail pieces? Is it possible to reduce the number of people targeted while increasing results? Are we targeting the right zip codes? If you are asking any of these questions, data analytics can help you.
- Undeliverable Mail Pieces – Data scientists can run your marketing list through a series of data hygiene steps, updating address, appending missing data elements, removing duplicate records, and running suppressions. Data Hygiene allows you to decrease the number of undelivered mail pieces.
- Reduce Quantity + Grow Results – If you target the best prospects for your business instead of taking a random selection, you can reduce the number of households targeted while getting the same results or increasing them.
- Targeting the Right Zip Codes – Data analytics can analyze where your customers are coming from and identify areas where you have had zero responders over a period of time. You can remove those unresponsive zip codes, focus on highly responsive zones, or target new areas that look like your highly responsive zip codes.
The goal of using data analytics in your marketing is to identify the best people and areas to target, so you can be more focused, reduce waste, and increase ROI.
Summary:
If you are satisfied with where you are currently at, that’s wonderful! Keep doing what you’re doing. However, if you want to know what’s working and what isn’t, grow your business, or be more targeted, data analytics will help find answers and build strategic, data-driven plans to achieve success.
Ready to learn more about using data analytics in your marketing? Let’s connect!