Analysing and looking for insights in your data can often be one of the less glamourous parts of marketing, but what are the other barriers holding marketers back?
- Maths may not be every marketer’s strongest skill
- Analysing data is often not the reason people decided on a career in marketing
- Many managers have a habit of wanting to ‘see’ marketing i.e emails going out and social media posts and don’t see the value in spending time collecting and analysing data
- It can be time-consuming
- Analysis is rarely at the top of priority lists
Although this list of barriers won’t be true for all marketers, they will resonate with most, and some may even have more to add to the list.
So how do we change our behaviours personally and as a team and an organisation?
Put a marketing analysis system in place
Put a marketing insights and analysis system in place either for yourself or your team. By making analysis and insights part of your campaign development process you can instil it as a regular habit.
You can start with a simple plan, one designed to be actionable by even the most novice of marketers. It can be used for a single Tweet or a full omnichannel campaign. The basic marketing analysis cycle looks like this:
When starting a new campaign, your first step should always be to revisit what you have done previously to help you determine what you should aim for this time around.
What has been done by the company previously that was effective?
What were the results?
Gather the top line information, in order to inform your SMART objectives
Write SMART objectives
By gathering the data from previous campaign, you have most of the information you need to write your SMART objectives.
Now you are going to look in much more detail at the previous relevant marketing activity, specifically in relation to your SMART objectives.
What were the insights and lessons learned?
How can you learn from these?
Some insights will be audience based, some about what worked on specific channels, other insights may be around timing. All these insights are invaluable to the business, creating a campaign in isolation of previous activity is a missed opportunity to learn from previous actions.
Make activity measurable
You must be able to make your activity measurable, generally, this means some kind of tracking, however, this is not a simple one size fits all solution.
We can use unique URLs to measure offline to online activity, campaign URL builders can be tracked in Google, tracking revenue that connects the financial activity to a specific campaign.
Then as we get more complex you should start considering how you attribute revenue based on all the touchpoints that a customer had in the lead up to purchase.
It is critical that you decide how you are going to measure whether you achieved your SMART objectives or not, and ensure you have the technology in place to capture the required information.
Collate your marketing data
The next step is to pull together all the data from your marketing campaign, it should be in one easy to digest table that brings together all the information from all of the channels and audience variances.
A table like this helps set a benchmark for understanding the following:
- Which channels did all the heavy lifting in terms of delivering response - next time you run the campaign you can focus on these and support them to maximise response?
- What were your response rates by channel - this gives you a unique view of your customers and your brand, helping you set targets for the next campaign?
To understand how to complete the last couple of steps access our IDM lesson Discovering and using campaign insights or explore one of the other options we have for helping you upgrade your marketing and analysis skills.
The IDM have a wide range of courses designed to improve your use of marketing data to suit all levels of need, we believe that data should be at the core of all planning and decision making, so whether the course has a data title or not you can rest assured that with an IDM course data will be a key thee throughout.
To learn more, take a look at our IDM marketing qualifications below.
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