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Data Driven Marketing Strategy – The Key to Growth

By June 11, 2018 No Comments
Data Driven Marketing

If you are missing data, you are missing out on conversions, revenue and information vital to your success.

Are you examining your strategy, execution and resulting revenue through the same lens? What is the point of day-to-day marketing tasks if you’re not seeing results?

Simply put – marketing without data is simply guesswork. Who’s reading your posts? Who’s opening your email? Who’s sharing your content? Which sites are the best for your brand? Who is looking at your web site, filling out forms, engaging with your brand? Who is buying your product and why?

If you don’t know, your marketing spend is worthless. Your business can’t afford that.

A data-driven approach for your marketing strategy will clearly illustrate which aspects of marketing strategy and tactical execution are driving results – and those that are not.

Strategy + Execution + Data = Sustainable Growth

As we pointed out in our last post, your marketing strategy matters – and it is critical to

your long term success.  Strategic marketing plans clarify where to concentrate your efforts, how to manage your tactics and effectively measure your outcomes.

Measurement. That’s where the data comes in.

Looking at your marketing strategy and tactics paired with actual data gives you the visibility for unwavering decision-making. It allows you to see what is actually happening quickly so you can address issues with confidence, and realign the right strategy, tools and tactics to get you where you need to go.

So how do you get there from here?

With your strategy intact, you have already done some of the hard work. When you know your target audience(s), you can begin to develop the messages or your potential customers, via the right avenue – whatever that may be (blog, email, social…you know the drill). (More about that here…)

Unfortunately, this is where many businesses – and frankly, a lot of marketing agencies – stop.

Building out a marketing plan with a solid analytics structure that actually measures your marketing efforts by specific customer conversion allows you to measure ROI, and adjust your content, terminology, and channel management based on actual data.

With the right combination of tracking tools, you can actually do the following to improve performance:

  • Examine what is working vs. what isn’t working
  • Shift your approach and personalize interactions
  • Utilize a combination of proven and / or new channels for success
  • Pivot at set intervals to consistently refine your message and delivery

Data is what drives sustainable growth. Without actual data, your marketing is expensive, time-consuming guesswork.

  • Data gives you a deeper understanding of your sales and marketing efforts and performance- to find out exactly what is driving leads, opportunities and deals.
  • Data allows you to address growth challenges as they emerge. Business and technology, platforms and messages are constantly changing – ensure you can deliver the right information, where and when your buyer is listening.
  • Data from multiple platforms and disparate systems can synthesize into one ultra-high definition view of marketing and sales performance.

Zeroing in on actual data will reveal where you’ve been most successful in the past and how you can apply that success to the future.

At RenderTribe, our RenderLab process helps you identify the unique pieces that fit in your overall marketing strategy and align your plan with overall business objectives. We help build the foundation for measurement, expertise, and the tactical execution to help you grow strategically and drive revenue.

Let us help you grow your bottom line. Contact us today.

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