Why You Don't Need a Data Scientist to Adopt a Data-Driven Marketing Approach
Have you ever felt like a deer in headlights when someone mentions "data-driven marketing"? Don’t worry; we’ve all been there. The truth is, it can sound pretty intimidating, but here's the thing: you don't need to be a data scientist to adopt a data-driven marketing approach. Yes, you read that right. In fact, you don't even need to be a tech genius or have a degree in computer science. So put down your abacus, and let's dive into why you should embrace data and how to do it without breaking a sweat (or the bank).
Data-driven marketing - sounds like something that only the likes of Elon Musk or Jeff Bezos can pull off, right? The truth is, it can be daunting for us mere mortals, too. But hold on to your hats because I'm about to drop a truth bomb - you don't need to be a data scientist or a tech genius to adopt a data-driven marketing approach. Nope, not even a little bit.
Here's the deal, as a small business owner or manager, you know that marketing is crucial to the success of your business, but you may be hesitant to dive headfirst into data-driven marketing. Maybe you've heard horror stories about complicated algorithms or mountains of data that only a genius could decipher. But fear not; I’m here to show you that a data-driven marketing approach is not only accessible but also essential for the growth of your business.
Why Data-Driven Marketing Is Vital for Growth and Survival
Do you want to know the secret to take your business to the next level? It's all in the data. That's right - a data-driven marketing approach is not just for the big players. In fact, it's vital for the growth and survival of small to medium-sized enterprises (SMEs), too.
Let me break it down for you. Using data to gain insights into your customers' preferences and behaviours, you can create more personalised and targeted messaging that increases customer loyalty and retention. And let's not forget the impact on your bottom line - a data-driven approach can also help you increase sales and improve return on investment (ROI) by optimising your marketing campaigns and budget allocation.
But it's not just about the immediate gains. A data-driven approach can also help SMEs compete with the big players in their respective markets. By identifying gaps in the market and uncovering new opportunities, you can stay ahead of the game and thrive in a competitive landscape.
In today's fast-paced and ever-changing business landscape, a data-driven approach isn't just a nice-to-have anymore - it's a must-have for the survival and success of your business.
Unlock the Power of Data: Common Data Points to Collect
If you're ready to dive into the world of data-driven marketing, the good news is, as you already know, you don't need a PhD in statistics. There are a few simple and straightforward data points that you can collect to start your data-driven journey and make smarter marketing decisions.
From website traffic to email open rates, social media engagement to customer feedback, these are the types of data that you can easily gather and analyse on your own, even if you're not a tech wizard. By examining these metrics, you can gain a deeper understanding of your customers' behaviour, preferences, and pain points.
But it's not just about collecting data for the sake of it. By using these data points to inform your marketing decisions, you can make changes that can have a real impact on your business. For example, by analysing your website traffic, you can identify which pages are most popular and which need improvement. By monitoring your social media engagement, you can determine which platforms and content types resonate with your audience. By soliciting customer feedback, you can uncover areas for improvement and opportunities for growth.
The possibilities are endless, but it all starts with collecting and analysing the right data points.
“71% of consumers expect companies to deliver personalised interactions and 76% get frustrated when companies don’t.”
Tools and Resources to Collect and Analyse Your Data
Now that you know what data to collect, let’s look at valuable resources and tools to help you along the way. Below I have listed all the tools I am currently using or have used in the past.
Website
The obvious and widely-used tool for website data is Google Analytics. It will give you great insight into your website traffic, user behaviour, and conversion rates. If you are new to Google Analytics, the link below shares helpful information to help you get started.
Google Analytics: The Ultimate Guide to Google Analytics in 2023
Another valuable tool for website analytics is Hotjar. Many people think it’s a replacement for Google Analytics, but it was actually built to work with Google Analytics to give you even more insight into how your website is being used.
“If you think you have to choose between Google Analytics and Hotjar, let us stop you right there: Hotjar is not meant to be a Google Analytics replacement, and we do not recommend that you pick one over the other. Hotjar is built to give added depth to the insights you get from Google Analytics.”
Source: Hotjar vs Google Analytics
In addition to Google Analytics (or if it’s a little overwhelming at first), some no or low-code website builder platforms have integrated essential analytics tools. These can be pretty useful for getting a high-level overview, so they should be analysed in tandem with Google Analytics.
Squarespace: Using Squarespace Analytics to Track Website Performance
Hubspot: Analyse your Hubspot site traffic with the traffic analytics tool
Social Media
Most social media platforms offer analytics tools that track engagement, follower growth, and audience demographics. If you’re not sure where to start, check out the information below for some of the more popular networks:
Instagram: Instagram Analytics Explained
LinkedIn: LinkedIn analytics: The ultimate guide for your brand
Pinterest: A Beginner’s Guide to Pinterest Analytics in 2023
Additionally, if you are using social media management tools such as Hootsuite or SocialSprout, be sure to dive into the data analytics available to you within these tools too.
Hootsuite: Get started with Hootsuite Analytics
SocialSprout: Complete guide to social media analytics and why it’s important
Buffer: Get in-depth insights to grow your brand on social media
CRM
Like social media, most CRM systems have built-in analytics tools that will have plenty of data for you to work with. Generally, this is a goldmine of data on customer behaviour and interactions with your brand.
HubSpot: Overview of Hubspot’s free Marketing Analytics tool
Sales Force: How to Track and Measure Web Analytics
Monday.com: Basic reporting with monday.com (Click here for an overview of more advanced reporting)
Pipedrive: Campaigns Insights
Customer/client feedback
Surveys are an excellent way to gather insights directly from your customers, including their preferences, pain points, and overall satisfaction. There are plenty of free and paid tools out there that will make this an absolute breeze for you.
Google Forms: How to create a free survey in Google Forms
SurveyMonkey: How to Create a Survey
Typeform: How to create a Typeform survey in 5 minutes (Video)
Decision Making: How to Turn Insights into Action
You’ve rolled up your sleeves and got stuck into your numbers. Now what? How do you turn all that data you've collected into actionable insights that will drive your business forward? Here are some tips to help you make the most out of your data-driven marketing approach.
Keep it simple: It's easy to get lost in a sea of data, so it's important to focus on the most relevant data points that will give you the insights you need to make informed decisions. Tip: Start with the data points that are most relevant to your business goals and objectives first.
Set measurable goals: Define what success looks like for your business and set measurable goals that align with your overall marketing strategy. This will help you track your progress and adjust your approach as needed.
Analyse your data: Look for patterns, trends, and correlations that can help you understand your customers' behaviour and preferences. This will enable you to make data-driven decisions to improve your marketing campaigns and drive sales.
Refine your approach: Use your data insights to refine your marketing approach. Adjust your messaging, targeting, and channels based on what you learn from your data. This will help you create more effective marketing campaigns that resonate with your audience and drive results.
Embrace automation: Leverage automation tools to streamline your data collection and analysis processes. This will save you time and help you make more informed decisions based on your data.
Remember, a data-driven marketing approach is a continuous process. It's important to regularly review and analyse your data to ensure you're on track to meet your goals and make adjustments as needed. By using your data to inform your marketing decisions, you'll be able to grow your business and stay ahead of the competition.
