Marketing professionals rely on the data and its analysis to generate valuable insights into their campaigns' performance. Learn how to leverage your marketing campaign's data.
Even before the rise of digital marketing, companies were accumulating event attendees or survey applicants’ data. And when everything moved online, there’s even more marketing data that can be collected and measured.
Accurate, clean and insightful data is a key component of successful business growth. Ultimately, collecting clear data and making data-driven decisions should be a number one priority for all new-age marketing professionals.
Marketing data is the information extracted from various touchpoints and interactions between the customer and the brand. The aggregated data drives marketing analytics to evaluate the effectiveness of any marketing campaign and justify the ROI (return on investment) of these campaigns.
Marketing data is machine-readable information extracted from various touchpoints and interactions between the customer and the brand. The data is collected from company-level and public sources.
The private sources are also known as company-level sources for marketing data extraction, and they are:
The public sources for marketing data collection are:
Extra tip: If you are not familiar with marketing data extraction, we recommend using reporting tools. Reporting tools will automatically gather all of the marketing data from different sources, clean and visualize it. By using data monitoring tools, marketers can cut time on routine tasks, avoid critical mistakes, improve marketing strategy and even sell easy-to-understand visual reports as an add-on feature for clients.
Five types of marketing data can be collected and used for marketing purposes:
Intent data is split into two categories — first-party and third-party. First-party marketing data is the information the business collects about the users from its platform or service. The information gathered from other data providers such as search engines and social media platforms is referred to as third-party intent data.
Finding how to deal with big amounts of marketing data can be challenging. However, there are tools that make marketing data gathering, aggregation, and analysis easier and less labor-intensive.
One of the ways to handle large amounts of data is to use a marketing reporting tool. The reporting tool automatically gathers all marketing data from different channels and allows marketers to build a visual report on the campaigns’ performance.
The reports can be built with pre-built widgets and templates and automatically sent to the client’s email inbox at the selected frequency — daily, weekly, bi-weekly or monthly.
As mentioned earlier — the visual and easy-to-digest reports can be provided as a premium service to the agency’s clients. Tools like Whatagraph allows marketers to cut time on routine marketing data tasks and effortlessly automate and send easy-to-digest reports with just a few clicks of a button.
After understanding the marketing data fundamentals and automation, marketers need to focus on data-driven insights. Here are a few examples of how the marketing data can benefit the business:
It’s important to remember — it’s all about the accuracy and volume of the data. The bigger the company, the more data it needs to consume to generate valuable insights. Many marketers think that they need to do analytics only once and use the collected marketing data forever. The truth is that marketing is an ever-changing landscape, so is marketing data.
Professionals must measure and analyze metrics constantly and adjust the marketing strategy according to data-driven insights. As The Economist called data the oil of the new age, learning how to extract and leverage it can be overwhelming at first. However, mastered data analytics allows professionals to scale their businesses successfully and always stay ahead of the competition.
Published on Aug 05, 2021
WRITTEN BYBenediktas Kazlauskas
Benediktas is a detail-oriented writer with a passion for marketing and technologies. Most of the time, you can find him holding a cup of coffee and crafting another data-backed, insights-packed content piece.
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