05 Mar Got Enough Marketing Data to Deploy the Most Effective Digital Strategy?6 min read
So, the marketing data is pouring in for your home furnishings store, auto dealership or multifamily property website and it’s your responsibility to review it, analyze it and take actionable steps to advance your company’s digital marketing strategy.
To plan an effective digital marketing strategy, it’s essential to track your company’s specific marketing data and to know when you have enough of it. It’s very common for clients to capture some data coming in, but most companies don’t track everything they’re trying to report on.
Capturing “enough of the right data” for an effective digital strategy means you are tracking all of the interactions between consumers and your investments in either advertising or marketing technology. Here’s how it works:
Rethink Your Role as a Marketer
Historically, we are in this space where the human marketer pulls and prepares all of the reporting, reviews and analyzes it, and makes estimations that are then discussed in a team setting. The team then drafts a plan for actionable next steps, reaching out to website vendors and advertising providers to take those actions to make improvements. This process takes a lot of time and mistakes often happen.
We need to rewrite the role of marketer to get out of that mindset. Instead, the marketer should be the person utilizing AI-powered software and automation with their digital investments, making sure all key interactions are correctly tracked and that you’re collecting enough of the right data to drive marketing decisions. With all reporting and tracking in place, tons of customer and sales information feeds into the system and the AI sorts through and analyzes the data to give your company insights in real time, and automation helps implement those changes more quickly and effectively.
We used to think of marketers as the actual engines themselves. Today, marketers need to rethink their approach and become the mechanic, so to speak, the person who makes sure the engine runs the best as it possibly can. AI technology and marketing automation can do just about all of this on its own, but it needs a human at the helm to ensure a well-oiled, smooth-running machine.
Turn Anonymous Website Visitors into Known Leads
The industries we serve rely heavily on digital advertising and reporting, but they live in a world where most of their transactions occur offline and in the showroom or leasing office. To bridge the online visitor to in-person visibility into your sales, you must first convert those anonymous online visitors into an identifiable lead.
To do that, we take each online visitor and assign a unique PERQ ID to track their shopping journey from beginning to end. With PERQ’s recent upgrade to its Google Analytics Reporting, clients we serve in the multifamily, home furnishings and auto industries can easily connect personally identifiable information on every customer as they journey from a website lead to an actual sale.
This visibility into who visits your website and then makes a purchase in-store is invaluable. Ecommerce businesses have a significant advantage in optimizing their website and digital advertising with larger budgets, but also because they have the whole picture of a consumer’s online journey, all the way through to the purchase. Retailers with brick and mortar locations need this same visibility if they want to compete in their market.
Stop Relying on Slow Data
Planning a digital marketing strategy takes time when it’s powered only by humans. By combining PERQ’s interactive experiences and personally identifiable tracking information with Google Analytics, we’re able to deliver 5X the marketing data, 5X as fast and at 5X the quality.
People are very slow in making decisions and many don’t give enough credit to the variables of seasonality, market conditions, and just how quickly things ebb and flow in the marketplace. Anytime you’re looking at the last 90 days and making decisions on what to change over the next 90 days, you’re really setting yourself up for failure. You’re not taking into consideration that the next 90 days already looks vastly different because of seasonality, supply and demand or new competitors.
Our AI takes those variables into account and allows companies to make changes in real time that directly correlate to current market conditions. By engaging with online consumers in various interactive experiences, we go way beyond just collecting names, emails and phone numbers. The data we deliver includes a customer’s shopping preferences, lifestyle questions, budget, and so much more.
Without PERQ, you may only be converting 1% of your website traffic. The marketing intelligence solution offered by our data-driven attribution model boosts that conversion rate up to 5% or more, and every lead comes with 5X the information about a particular customer. Power your decision engine with more information, faster and with higher quality data.
Marketing with Discipline for Change
Now that you’re capturing “enough data” for an effective digital strategy by tracking and reporting on all consumer interactions, you need to be disciplined in trying not to change too much at once. This is a fairly common mistake most companies make when drafting a digital marketing strategy.
Make every effort to make all decisions and changes at least partially based on actual data. When multiple changes start taking place at once, ask yourself and the team, does this align with the overall strategy we’re working on? Will we have the necessary reporting to understand what is working and what isn’t, among all of the changes we’re making within the same period of time? If the answer is no, you may want to consider whether you’re really setting yourself up for success or if there is no way to win with so many changes at the same time.
Instead of deploying four or five initiatives at once, limit how many things you test at one time so you can measure the direct impact of each change and clearly determine if it achieved positive results.