Marketing Data – The Method Behind the Madness
It’s not all fancy graphics and killer copy in marketing you know. We’re numbers people too!
Which is why I want to talk to you about data in marketing. What it means, how you measure it and how that helps your business.
I get it, you’re probably not sure what data you need to be looking at, what you need to record and how to do so. Luckily, I’ve got some top tips for you, to help you keep on top of your marketing and work out whether it’s effective or not.
When it comes to social media advertising, you might be looking to increase your audience, so you’d be looking at metrics like reach, impressions, likes as your data.
It might be that you’re looking to increase sales on your Shopify, so you’re looking at the cost per purchase, versus the value of the purchase. That way, you’ll start to get a feel for how many sales you’ve made, versus how much you’ve spent on advertising to get those sales; knowing whether what you’re doing is effective or not.
Or, maybe you’re looking to generate leads, and so your data might simply be leads, or how many leads you get per 1,000 people or 100 people.
Your data could be clicks to website versus conversion, so you can start to build a picture of what’s working and what needs tweaking.
Something Andy and I have encountered a lot, is when people take advertising away from a digital platform, they suddenly forget about data altogether and it’s all about how much money they can throw at the wall and see what sticks, and that isn’t how it works.
If you’re doing a print campaign in a local glossy, or you’re doing billboard advertising, why wouldn’t you use a unique URL or a call tracking number so you can see if it’s working?
For example, if you spend £3,000 a month and it generates 37 calls that are worth around £20,000, it’s a good investment. However, if it generates 12 calls and only brought in £400, it’s a bad investment.
You can quite quickly start to track that data too; call tracking numbers don’t cost much and unique URLs can be set up with a tool like Bitly, so quite a simple thing to do.
Other areas you might want to track data could be in your shop environment or website, where people get to the checkout stage, is there anything extra you could sell them?
By offering them things at that point, do you actually increase the value of your transactions?
That marketing data is really valuable to you because you know whether it’s worth the effort to implement those extras. You’ve probably seen if you go into HMV there’s always an ‘Album of the month’ on the checkout, or if you go into the local supermarket, they’ve always got the chewing gum, bottles of water, bags of nuts, things like that, because they know impulse purchases will increase the value of that basket and therefore is a great marketing tool. The same applies to your business.
So, if you’re unsure about your data, and what that means for your marketing goals, you can book a Discovery Call with us. We’re always happy to help.
Yours sincerely, The Mad Hatter Himself.
Emily will be in touch within one working day
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