Keith Fowler

What Data Are You Using for Your Marketing Strategy?

There is no denying that 2020 is a year, unlike any other. We are currently in the midst of an unprecedented health crisis, coupled with an economic downturn that is threatening to become the worst recession in many generations. As B2B marketers, our world has been turned upside down.

Stores are closing and previously prosperous brands are folding, but e-commerce is taking off like never before. Formerly reliable marketing research? Out the window. Now, the only thing we as marketers can rely upon is change itself. We must now make rapid decisions that are still firmly supported by data. The big questions are now – are you using the right data, and how are you using it?

Here are three questions about your marketing strategies to consider during this particularly fraught time. How will you use your downtime to come out ahead?

More data isn’t always ‘better’ data

Are you guilty of spending loads of time collecting tons of data, and then sitting on it with no clear plan for how to analyse it or use it make useful decisions? You’re not alone. Plenty of marketers end up with too much data that they aren’t even sure is helpful.

If this is you, it’s time to get back to basics. Start with a small and clearly defined dataset that is tightly and demonstrably connected to a specific goal. Once you are on track and making informed business decisions based on this data, only then is it time to expand your data collection.

Have you expanded your definition of ‘digital?’

As digital B2B marketers, we need to be at the vanguard of the industry. As the definition of ‘digital’ expands, our usage of digital data needs to expand right along with it.

Yes, we’re all familiar with social media, but as brands become more technologically savvy, they’re breaking through the ‘digital’ wall, encouraging customers to call, text, chat, and even exchange old fashioned mail! Even though these interactions are occurring offline, they still generate digital breadcrumb trails – how will you go about getting a hold of them and using them to your advantage?

Are your Analytics Connected to your Revenue?

Sometimes we can get so caught up in measuring the analytics that others think are important that we forget to think about the metrics that are actually important to our business.

For instance, if you do a substantial amount of your business over the phone, but you’re only measuring your online interactions, you’re not really getting an accurate read of your success. In this case, you need to mine your recorded calls, assess that data, and build new outbound marketing strategies based on what you find.  

We all get stuck in our ways sometimes. A massive disruption can be just what we need to assess our systems and make the necessary changes to keep up with the times and stay effective. Now more than ever, it’s essential to stay grounded in facts and focused on revenue.

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