Marketers have become experts at gathering analytical data of lead information. They know how, when, and where to get data and even how to coax reluctant potential leads into sharing data they're trying to safeguard. But when it comes to analytics, it seems that even seasoned marketing pros are somewhat newbies. If this sounds like you, here is your guide to marketing analytics.
Conduct Segmentation at the Granular Level
Big data allows you to develop a more comprehensive understanding of your target audiences. Instead of having a nebulous, fluid image of the target demographic most likely to invest in your produces and services, you can divide these target groups into multiple segments and then finely tailor content and messages specifically to those subsets of your customer profile. In essence, granular segmentation tells you who your separate target audiences are.
Engage in Predictive Modeling
Now that your customers and potential customers are more accurately and completely defined, you can use analytics to begin predicting how these groups might respond to particular messages, products, deals, and offers. For example, some customers might wait to purchase something they really want only when it goes on sale. Others might desire to always be the first to make a new purchase, and still more might respond to getting extra goodies with their full-price products.
Predictive modeling can also help you create messages that tug the right strings, while avoiding messages that are perceived as turnoffs to your target groups. Do these customers respond to practical reasoning, laid out carefully? Maybe they prefer messages that summarize the reasons they decide to make a purchase decision. Predictive modeling gives you the roadmap to generating messages your particular groups are most likely to respond to.
Using Optimization Techniques
Still, knowing what types of messaging your audience prefers is one step away from optimizing. In this step, you determine how to make each interaction between your company and your leads or customers the best it can be. This step is not just about the messages you send out to your leads and customers, but also about how you interact with them when they call in with questions, email for technical assistance, or revisit the sales team with pricing complaints. With optimization, you can help your leads and customers meet their own goals and objectives by tailoring messages to their needs and desires.
Tracking the Right Performance Metrics
Delving into marketing analytics sometimes calls for collecting more metrics from more places than you have been. For example, good analytics isn't just built off information gathered during lead generation, it also involves tracking metrics like:
- Who is consuming your messages? Where?
- Who is sharing your messages? How?
- Who is engaging with your messages by actually responding to your calls to action?
- Are these messages leading to actual sales improvements? Are you on track to meet the goals set forth for this month, quarter, and year?
- Is the campaign generating a ROI?
ReachForce helps marketers increase their market reach and success by solving some of their toughest data management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like marketing automation, personalization and predictive marketing better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce can unify, clean and enrich prospect and customer lifecycle data in your business, and do it at your own pace.
To learn more about how ReachForce can help you optimize demand generation and your impact on revenue, check out our real-time web form enrichment demo, or request a free marketing data diagnostic. Get the power to let data drive marketing and higher performance.