Building A Data-Driven Culture

data-driven marketing

Maybe, one of the most important evolutions in marketing is the ability to understand what data you have, how to organize it and, ultimately, how to use it to your advantage.

The practice of gathering and generating insights from data to inform your marketing strategy has become commonplace for some marketers. However, for many organizations, there is still room for improvement in turning intelligence into actionable insights and committing to using data-driven decision making.

What Does It Mean To Be Data-Driven?

At its core, data-driven marketing centers on one thing, making data easily usable. That may sound straightforward at first but this is anything but simple. Marketing Data has become more and more complex with the addition channels, platforms and the availability of their data and insights. But it is worth it! Data-driven marketing allows you to take control of today’s complex marketing environment. 

  • Decision makers quickly act upon new findings
  • Constantly testing
  • Always wanting to improve
  • Using data to help inform and influence strategy

How Does The Centralization Of Data Affect Data Driven Marketing?

For disperse data sources to be compared they need to contain common fields. Marketing analytics tools are able to stream different forms of data into the same dashboard so that different channels play nicely together. This is called centralization and it allows you to look at separate, independent data sources alongside one another and make them comparable.

  • The centralization of data allows for companies to quickly act upon new finding because data points are located in one place.
  • The centralization of data allows marketers to easily compare two different data streams that you might have labeled incomparable.
  • The centralization of data helps form consistent definitions of measurement for metrics across platforms.
  • The centralization of data allows marketing teams to actually generate insights and gain new perspectives instead of spending all their time gathering the data they need. Everything is located in the same place for everyone to use.
  • The centralization of data allows you to identify the root cause of issues because it makes make all data point available, giving you a complete picture. 

What Is The ROI?

Considering the hype behind data-driven marketing, it is important to ask what is the ROI:

  • Enables better decision-making that increases profitability
  • Eliminates time-wasting reporting practices
  • Users do not have to be “experts” as the data is normalized and made usable for everyone
  • The best results are found when data is made available to decision makers
  • Allows for multiple data sources to be located in the same place which makes them easily comparable

How To Embrace Data-Driven Marketing

64% of marketing executives “strongly agree” that data-driven marketing is crucial to success in a hypercompetitive global economy so learning how to embrace this kind of marketing culture should be a priority. Here are five steps for embracing and regaining control of data in your marketing team.

1. Use a Marketing Intelligence tool

Marketing analytics tools and dashboards focus on simplifying the complexity of data by providing a tool the streamlines and visualizes the internal workflow. It gives everyone personalized access to a wide array of channels and platforms that otherwise might not have been comparable.

2. Look internally

Figure out what might be keeping your team from embracing data. Maybe you need to upgrade the tools you use or explain the benefits ? Your goal is to integrate data-driven marketing and figuring out why people may be hesitant is important.

3. Create best practices

Upgrading your marketing operations to be more data-focused is a huge endeavor so make sure you are breaking it down. Ensure everyone on your team is on the same page and can visualize what the future of marketing looks like when data is at its core by streamlining processes.

4. Complexity is one of the biggest obstacles

The last thing you want to do is make someone’s job harder because they are now using data. Work with your team to learn where you can eliminate complexity and simplify the process. Take time to look back and see the impact that using data has had.

5. Learn from others

Marketing is constantly evolving. It’s important to read, listen and network so you can learn from others. There are organizations that have been using data-driven marketing for some time so there is no need to reinvent the wheel. Avoid their mistakes and apply what you can to transform your business.

Wrap It Up

The conversation about data-driven marketing is a conversation we all need to have –in boardrooms, within marketing departments, and throughout organizations. And maybe this will even inspire discussions at your company, or make those you’re already having better? It is time to put data at the core of our marketing decisions.

Like what you read above and want more information? Check out our FREE e-book, Measurement In Action here.

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