Solving the Marketing Conundrum – The Difficulty of Data-Driven Decisions

Analytics. Forms. Re-tweets. Sales activity. Metrics. Data is the backbone of any organization.

Your company captures more of this information every day from multiple sources, interactions, and processes. The big question is: Are you keeping up with it? And if you’re in the minority who are, are you able to make sense of the countless streams of information and take advantage of the value it provides?

The first step in making the most of your data is to get organized. Where is the data coming from? How often is it collected? How are you aggregating the data into a digestible format? Most importantly, where are you keeping it all? A standardized process to aggregate your data into one central hub is absolutely essential. In our line of work, we’ve seen some pretty messy data. My advice: Catch it early and don’t let this happen to you, unless you want to create more work for yourself.

The reality is that the majority of organizations already have a data quality issue to address.

At that point, you need to step back from the data and consider your overall objectives. Who is your ideal customer? How are you talking to them? You’re tossing balls to people, but are they throwing them back? Collecting the data is important, but understanding how that information can be leveraged to build relationships is even more valuable. In short, identify your ideal fit, construct an engagement strategy for this audience, and collect quality data. This will enable the successful execution of:

  • Automated personalized messages based on stage in the customer lifecycle
  • Prospect and customer activity tracking for campaign success rates
  • More streamlined company processes and revenue increases

The most important step, however, occurs after you’ve collected the data. Numbers have tremendous value, but they don’t close deals – people do. The relationships you’ve established by capitalizing on the information gleaned from the collected data are what lead to signed contracts.

What kind of reporting and analysis are you doing to paint a picture of your prospects and customers? How are you measuring successes? Make sure your solution helps you truly determine whether the data-driven decisions you make for your business are the right ones.

This is the fourth post in the Solving the Marketing Conundrum series. Follow @roi_marketing on Twitter or subscribe to the RSS feed to stay current with updates from Right On.

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