You are currently viewing 5 Ways to Improve Your Marketing Strategy with Data Analysis
Virtual CFO Blogs 11

5 Ways to Improve Your Marketing Strategy with Data Analysis

With the increasing competition, growing complexities, and budding technologies, incorporating data analysis into your business has become a necessity to let the audience learn about your brand thereby helping you to drive your business forward. 

You can collect, analyze and interpret data from several digital channels like websites, social media channels, emails, mobile apps, and many more that help you to gather insights about customer behavior and preferences. 

This will help your business to make informed decisions about how to allocate resources, create marketing campaigns and meet the objectives of every prospect you deal with. 

5 Ways to Integrate Data Analytics into Your Marketing Strategies

There are numerous ways to use data analysis to improve & optimize your marketing strategies. Below are the five actionable strategies- 

1. Track lead generation and revenue

It’s essential to learn where your business needs to make changes & improve its performance to generate more leads and ultimately have a better revenue source. 

This can be via social media channels, search engines, or in-bounds leads. Knowing which keyword can be used to enhance the performance of your website in the eyes of users can help you drive more traffic, a target audience, and even better conversion rates toward your business. 

You need to inculcate data analytic tools into your marketing plan to analyze and measure your lead sources and create campaigns accordingly. One such tool to be used by any venture can be Google Analytics which helps you to track data & gain insights about revenue and lead generation. 

2. Personalize the Customer Experience 

One-size doesn’t fit all, is the strategy that completely resonates with every user you interact with. What can be better than supplying what exactly is the need of any user? That’s what personalization in business can do to serve the best of all to their audience.

You can leverage data analytics into your marketing strategy to connect and deliver data into a one-to-one method that is the touchpoint of every single user. 

Email opening rates, website experience, and google search pages, all are popular entry points your business can focus on to develop a personalization approach with every user they interact with. 

To track users’ behavior about the time they spend on any specific search page, websites they’re referring to, Channels they prefer to shop the products, their search experience, their pain points, values, or preferences, all these can be learned by using Google Optimize. And so, accordingly, you can tailor your marketing campaigns & reach out to every customer personally.  

All these strategies can help you improve customers’ trust in your business and enhance the ROI of your business. 

3. Run A/B Tests to Optimize Your Site

A/B testing also known as split testing is regarded as the best approach to inculcating data analytics into your business marketing strategy by optimizing your emails, landing pages, and other marketing messages. 

To learn what exactly works for your brand & target audience and focus on what’s important, it’s essential to add crucial data and information about the user. 

You need to choose specific marketing channels that need optimization, come up with a good hypothesis, KPIs you need to track (open rates, conversions), and create strategies for variations of business you feel are important to improve.  

Good Statistics play a significant role in testing, so the data you’re using should be as specific and measurable as it can be to understand what kind of audience you’re targeting, what all changes are required to improve consumers’ conversion rate, and what brings traffic to your site. 

4. Craft killer Content Customers Care About

When you listen, you learn. The above quote explains how important it is to learn about your audience as only when you learn and understand them, can you identify & create content that generates interest among the users. You can use numerous tactics to find & target specific issues and create and improve the quality of content around them. 

To gather quantitative & qualitative data at the same time, use Social Listening tools, as it is considered one of the best ways to maximize the use of data analytics.

Based on information about customers’ specifications, you can cover the topics your competitors are not listing, which can bring more engagements, resonate with your audience, scale up your content, and boost awareness about your business.    

5. Build Buyer Personas

Every customer or prospect you deal with has different perceptions about brands and businesses. Use data analytics to create buyer’s personas which give you detailed information about your target audience. 

You can use different approaches, tools, and platforms to interact with them and collect all the crucial information to align & improve your marketing strategies. 

You can have access to such data using google analytics which guides you to focus more on the target audience report section. Monitor & understand their interests, values, pain points or challenges they face, how they interact, the device they use, demographics, geo reports, and what exactly they expect from a business. 

Research shows that such buyer’s personas can help you to increase email open rates by 2 to 5 times and CTR rate by 14%. 

The bottom line

Incorporating Data Analytics into your business’s marketing strategy can help you learn a lot about your target audience’s behaviors, interests, social media interactions, demographics, and thereby using this crucial information to revitalize their marketing plans and reach out to them personally. 

This also means you can deliver the right message to the right people at the right time through the right marketing channels. Data Analysis can help you in better decision-making and enhance customer’s journey, and higher conversion rate, thereby improving the ROI of your business. Contact Virtual CFO to improve your marketing strategy.

Leave a Reply