The Devil’s in the Data
Data has become a catchword in marketing.
You’ve already done the hard part—you’ve developed a content marketing framework for your company, you’re engaging clients through social media and direct mail, and you’ve got a production schedule to boot. You’re excited to enjoy the fruits of your labor, but you’re not sure how to measure the efficacy of your marketing strategy.
Data has become a catchword in marketing. Every company knows, on an intrinsic level, that it needs data, but what exactly is data?
Data encompasses more than just the number of tweets or likes a company receives on social media. The data significant to each company will vary, of course, but it’s important for a company to gather data holistically and from a variety of sources. Data points typically include, but are not limited to, the following:
Customers’ demographic information (race, gender, age, etc.)
The number of responses from a geographic area (important for direct mail campaigns)
Website traffic reports (number of page views, keywords in search engines, the medium of access, etc.)
The number of tweets or likes on Twitter or Facebook
Companies can also use forms and surveys to actively collect behavioral data from their customers. These forms and surveys help companies understand their customers better and, in turn, allow companies to personalize their interactions with customers (or potential customers).
The more data a company has, the better it can evaluate the effectiveness of a campaign. For example, let’s say the direct mail response rates for a geographic area that your company services are low. If you couple that data with the demographic information of the area and the customers’ feedback through forms and surveys, then you’ll better understand why the response rates are low. Maybe the area’s population is dominantly Asian American, but your marketing collateral features images of white families. The insight a company gains through its data allows for a more optimized, targeted approach to marketing that will ultimately benefit both the company and its customers.
The methods for gathering and analyzing data will also vary, especially because of companies’ proprietary data systems and different workflows, but there should at least be an internal system or process in place to work with data. Systems and processes are important because they ensure consistent, reliable data retrieval and analysis. Companies should manage what data is collected and how that data is used, whether conducting in-house data reporting or using third-party vendors. Lumegent has had success in building and managing these systems for our clients.
Having dedicated staff members (or even an entire department depending on the company’s size) to manage these systems will not only save a company frustration but also create a standard for the company moving forward. For example, Bryce Carney is Lumegent’s Data and Systems Director. Using the data Bryce and his team gather and analyze, we at Lumegent can optimize our marketing strategies and campaigns to better serve our clients. Also, through our data efforts, we’re able to offer support to companies with in-house data systems or to those looking to establish systems. Bryce believes that because of our investment in data, we can offer quality services to our clients.
“We care more about the clients,” Bryce said. “We try to go above and beyond what they expect of us.”
And he’s right—with data, we have the means to produce accurate, targeted collateral for our clients. Lumegent ultimately uses data to steer companies in the right marketing direction.
Data can be overwhelming, especially if your company doesn’t already have a data system or process in place, but in today’s digital age, data is crucial to the success of any marketing strategy. Lumegent is here to help your company fit data into its marketing efforts.
