Analytics Led Marketing
Analytics Led Marketing
Content strategy, campaign ideas, market insights, creatives are the 4 main components of any marketing strategy. Traditionally they have been done and managed in silos where the “ideas” determine and decide which campaign works and which will not.
But the digital world is different now. We have better tools and technologies to track and measure results. It helps develop strategies that are analytics-driven rather than intuition-driven.
Let's take 4 components one by one and see how they can lead to Analytics.
Customer-turned-marketers are the king for content. But how do you come up with the best content that can resonate with brands, consumers and the industry? This is a question that is usually answered - we need to test and learn. There is nothing wrong with this and we need to try different strategies to see what works. But what if you can already detect the personality of your customers? What if you are able to benchmark from the data of available competitors what is not working? What if we can tell you what is the big, emerging and positive trend in the market? Haven't you got help with your content strategy?
Simply put, the brand should have a good mix of corporate, brand, local and trend content. Of these 4, only corporate is the one thing that can be strictly followed (unless there is a disaster). The remaining 3 are relevant and must change and be analysis driven. Let us take some examples. Realizing that your followers are people in the age group 18-25 and men help you understand the right trends for the day and develop relevant images and status updates. Knowing that 45% of followers are women who love cooking helps you decide which discounts to promote if you are a credit card company. After knowing how excited people are about Royal Baby, you can also know about the next product.So yes content is king, but analytics is the right hand side of the king which helps the king run his empire efficiently.
Campaigns have been an integral part of any brand. You can be in the B2B space or B2C, the objectives of a campaign may be different and you can target a different target audience, the campaign helps influence brands and create a higher brand recall among consumers We do. One of the biggest challenges are brands and agencies that have to come up with the "best" or what some call a "viral" campaign to attract consumers and most of the brainstorming to generate the best creative or a "different" idea. Is done to do. But enough research has been done to suggest that a campaign is not viral or popular. There is a science behind it. In addition, the brand needs to know if the ROI is right for them.
Analytics can run campaigns starting with the campaign, targeting market studies, tracking the campaign, real-time support for the campaign and calculating ROI at the end of the same. We will not be able to understand and understand the true effectiveness of the campaign until we determine the correct KPIs at the beginning of the campaign and evaluate them at the end. The list said, analytics will help brands that spend marketing campaigns going for marketing dollars wisely.
With social media becoming popular among consumers, a large amount of data is generated each day. Supported by data analytics, it has never been easier to understand trends, industry, customer journey and behavior. Traditional market research is good and necessary, but with the rise of social and digital media, not praising it with digital research can be a threat to any brand these days. The best part of digital research is that it is faster to execute and also cheaper than any other medium of research. Not to mention the size of the sample here can be as large as the entire population of a country.
Since consumers are moving from one device to another and from one medium to another while consuming content and leaving digital mediums, a cross channel analysis is the best way to understand the consumer journey through different touch points. Research should be run instead of viewing analytics as a support function.
Creative ideas and campaigns are always going to be high recall. When we mention children (referring to those born before 1985), we don't remember the first black and white (monochrome) TV commercials, but like the campaign and the content, can be creative and more analytical. Analytics helps validate the idea and is the easiest way to test whether it is going to work (most of the time). It helps you to differentiate and learn from existing concepts and most importantly, how the competitors are performing in their strategy.
Analytics definitely needs to be well publicized. It should be seen as the backbone of the company. There is enough data available to click your marketing strategies even without going into the details of CRM and other software. Analytics gives you the science and comfort to get you on the right track and refine your digital marketing strategy by analyzing what went wrong.
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