Chart of the Day: The importance of having quality marketing data
Data is the not-so-secret weapon of each and every marketer across the land. Data-driven marketing takes the guesswork out of your daily decision making. Should you place more budget into Facebook Ads, more resource into email marketing or cancel your latest campaign early? It's hard to know unless you have accurate data at hand to inform your decision-making.
In a recent research report, Ascend2 asked marketing influencers "what are the most important objectives of a marketing data strategy?" Leading the way with 62% was improving marketing data quality. This result is encouraging because if you don't have accurate data you could be making worse decisions than if you had no data at all.
In a follow-up question, they asked "What are the most critical challenges to achieving marketing…
How to avoid the costly data analysis mistakes that most marketers make
If you're a digital marketer, you can't failed to have noticed—there’s been a seismic data shift over the last several years that encourages empirical marketing based on data and analytics. The sentiment underlying this shift seems to be that if you think your art and copy are good, then you better have the stats to prove it.
This evidence-based approach is heartening in many ways, but many people are still learning how to apply its principles. Just because you have the numbers, doesn’t mean you know how to apply them. In this short article, I want to look at three 'boneheaded' ways that people are looking at their data and offer some suggestions to help put your data analysis back on track.
You’re Not Doing It At All
Sadly, a lot of people are in this category. But I get it. Again, the…
The Managing Director of Royal Mail's Data Services shares his insights into the true cost of poor-quality customer data.
As more marketers work to improve ROI and address new data regulations, the true costs of poor-quality customer data are about to become clear
New research into the use and management of customer data from Royal Mail Data Services reveals that UK organisations estimate poor-quality customer data is costing them an average of 6% of their annual revenues. So how can marketers and data experts finally clean up their customer data to improve overall operational efficiency and campaign effectiveness and comply with data protection regulations?
Marketers face a data dilemma
Today’s marketers rely on good-quality contact data above all else to ensure the success of a campaign’s performance. Yet despite reporting data quality as having the biggest impact on campaign response and conversion rates,…
Crawl, walk, run: three steps to establishing an effective DMP
As digital marketers we're all too aware of the importance of data. For example, the typical fortune 1000 company that sees a 10% increase in data accessibility generates $65 million in additional revenue, whilst bad or poor quality data costs organisations as much as 10-20% in revenue.
Although Big Data is no longer a new area of interest for marketers, the constant change in trends and focus mean that we must always stay up to date, if not one step ahead, of the trends to ensure we hold a competitive advantage. Just consider the sheer complexity of data-related terms:
I recently attended a data-driven marketing event run by the Omnicom Group which gave me the opportunity to look at some of the insights and trends from those working at the…
Dirty data leads to costly mistakes. Here's how to prevent them
A co-worker once told me the sort of horror story that causes marketers to wake up in a cold sweat in the middle of the night.
In a previous position at a large technology company, he and his team generated numerous leads through conferences and trade shows. The field marketing managers would send the leads to their marketing operations team via CSV files, and the operations team would use the information to follow up with these leads. The data came in varied formats and was not always clean or easily segmented.
In one unfortunate case, the marketing operations team mistakenly uploaded a file containing 500 software industry leads under the service provider category in their system. The leads were routed into the service provider channel, and all 500 of them received a service provider newsletter rather than a software email. Needless to…
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20 Jul, 2015
Understand your marketing ROI and use the data to inform your data-driven marketing strategy
While the attraction of data-driven marketing isn’t in doubt, the challenge confronting businesses can be daunting.
According to the Q1 2014 Gleanster Research customer experience survey, about eight out of ten senior marketers believe their organisation could be doing a better job of using customer data to inform customer acquisition and retention strategies.
But with data-driven marketing involving so many working parts, the end goal can appear unobtainable. To create a data driven strategy, you first need to know how to establish an effective way to measure marketing ROI.
Data-driven measurement
The advent of data-driven marketing should ensure that organisations can not only identify the strategies and campaigns that are most likely to be successful, but also secure buy-in and investment for marketers by demonstrating the potential ROI of impending campaigns.
Put simply, if a marketing department is truly data-driven, the measurement of…
Wearable technology trends and the future of digital selling
Until what seems like very recently, wearable technology has remained on the fringes of consumer consciousness, with most people unsure what to make of it. 'What’s the point in moving the user interface two inches from my pocket to my wrist?' people rightly ask. 'But I’m terrible at multitasking, those glasses will just be another distraction…' Although wearables still have yet to gain widespread popularity, interest is stirring and 2015 may just be the year it turns a corner.
According to a recent report from Juniper Research, wearable advertising spend is estimated to reach just $1.5 million this year, but by 2019 is expected to hit a slightly more impressive $68.7 million. That’s a huge new market, and one that online marketers would do well to embrace.
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08 Jun, 2015
Developing skills needed for data-driven marketers who can understand and apply metrics and analytics
Becoming a data-driven organisation doesn’t just rely on the right technology, structure and processes. The human element is essential, and without the right skills, qualities and roles, any effort to be successful at data-driven marketing is destined to struggle.
The kinds of skills that support a data-driven philosophy are rich and varied
'The team needs to be technically savvy,' says Jim Sterne, Founder of the Digital Analytics Association.
"They do not need to be technologists, but they need to understand how the Internet functions at the bits-and-bytes level, so they can make the most of it at the human level. The team needs to understand how data is gathered and where it may have weaknesses so they can make informed decisions about which numbers to trust in which…
Barriers to adoption of Marketing Automation and how overcome them
In research TFM&A (2014) identified that there were 5 main benefits to marketing automation: personalisation, campaign management, triggered emails, control and insight. But with such clear benefits why are more organisations not adopting the tools that can lead to greater business success? In this blog I’ll be explaining the key barriers to adoption of marketing automation and give an action plan for marketers who want to persuade their organisations to adopt an automated approach.
Who are the non-adopters?
The barriers to adoption of marketing automation vary greatly depending on the type of company, their needs and their previous investments. In research carried out by CommsBox we identified 4 key types of non-adopter. Although by no means exclusive, they give an in-depth insight into the difficulties that companies face when making major investments in change. You might recognise elements of your own organisation here:
Trailing…
Customers have similar traits but are not all alike and should not be spoken to with a single message in the same manner and tone. This was initially looked at in an earlier article ‘Talk to your customers or talk to your customer?’, but once the need to communicate with and not at all your customers is understood, providing different messages/offer/content using surface level details is a tempting approach, for example splitting the message by gender and/or age group.
This approach assumes that the surface level details represent the best groups of customers which will not always be the case. Looking at the sand in the first image at first glance all the grains seems to be identical with some obvious differences becoming apparent when a more detailed…
