What is big data analytics, why should companies care and how can Big Data be used in their digital marketing strategies?
In the world of digital marketing, data is a necessary concept, but it is often difficult to understand what it means. The ability of big data to understand large amounts of data of different types has long been a key factor for digital marketers.
Yet Big Data appears to be on the rise in many different industries. However, many marketers still don’t know how big data analytics works.
They may be relatively new to the field or have some experience, but don’t fully understand it.
1) Have the right data
You probably know that accurate data is needed to make effective marketing decisions. However, it may come as a surprise that too much data can be detrimental to your marketing strategy if not used correctly.
Forbes recommends starting with key performance indicators (KPIs) and working backward. For those unfamiliar with the concept, KPIs are measurable values that give an indication of the progress of a campaign.
Some examples of KPIs for marketing initiatives are website visitors, landing page visitors, email collections, registrations, and click calls. Whatever goal you have set, your KPIs need to help support it.
2) Know the audience and the channels.
The best thing about data is knowing who to target your marketing campaigns and who to talk to exactly. By tracking the type of visitors that come to your website, you can build personas around those who engage.
You can then reach out to other people who are similar to your current customer base. The data can be used to determine what audiences interact with on your website and campaigns, such as ads and email marketing.
A tip: when deciding your target audience, you need to determine its intent. This approach is also about defining KPIs for making content decisions (like blog posts) that are right for your audience. An example of an important dataset to consider is that of device access sources.
Finally, different demographic groups use different methods to access online marketing information. Therefore, having the right channels to reach audiences can make a big difference in digital marketing campaigns.
In fact, in 2018, 58% of website visits were from mobile devices. So knowing which devices are best for your audience can help you optimize your content to reach them more efficiently.
3) Target the Right Keywords
The data can show what your audience is looking for when they search for your product or service. As a result, it can help you identify keywords and drive traffic to your channels. Thanks to the amount of data provided by the Google AdWords keyword tool, it is possible to identify potential keywords.
This tool can also be used to see which keywords your competitors are targeting while identifying which ones are worth bidding on and which ones are absent.
Using these keywords not only for ad targeting can advance your business by putting them into social media marketing, website content marketing, call-to-action, and other digital entities to fully manage yours. SEO initiatives. In addition to bidding on keywords, you can constantly monitor and analyze the results to optimize your strategy.
4) Optimize campaigns and website
Past data can be used to predict the future results of your campaigns. By reviewing your past campaign performance and ad targeting efforts, you can determine what worked and what your best practices may not have been.
For example, if your Facebook ads outnumber your Google ads, this could be a sign that you should devote more of your budget to Facebook. Additionally, you can optimize for the different demographic groups of your audience. You can also target different personas if you are optimizing for a variety of products or services on offer.
5) Showing ROI
Stakeholders want to know that their marketing spending is working. With digital marketing, you can use the data to show exactly how the spend is being used and what impact it is having on the results. In a dataset, it is necessary to take into account every activatable element, such as a form or a click-to-call, towards which traffic is directed.
To find out which channel generates the most traffic, you can add tracking parameters to URLs to move your digital spending. If phone numbers are listed on the website, make sure you can track these interactions through customer service or a system.
The equation for determining digital marketing ROI is (total revenue attributed to digital marketing – total costs of digital marketing) / (total costs of digital marketing). Without doing these essential things with your data, you can collect information for no reason.
Used correctly and efficiently, data can quickly guide your marketing efforts.
Digital marketing + Big Data technologies with Stefanini.
Ultimately, customer analytics and customer data analytics can better guide business goals, product development, and marketing strategy to engage and retain today’s and tomorrow’s customers and earn their long-term loyalty.
Use insights from data collected in real-time to create value for your customers and achieve higher ROI. It is more important than ever to make fact-based and revenue-related decisions. Effective use of data and analytics can help marketers stay anchored to their customers’ changing reality and focus on their moments of truth.
At Stefanini we deal with strategy, data science, media, and advertising, using data intelligence to drive business, connect people and create experiences.
Thanks to our experience, our best practices, and our statistical techniques, we provide actionable business information based on data mining and predictive models. We deliver these insights through research, analytics, and social insights.
How do you Analyse a digital marketing strategy?
1: Evaluate your digital marketing goals.
The first step in any good evaluation of a digital marketing strategy is a thorough examination of the specific goals you have set for yourself in the past. (Of course, if you haven’t created any goals yet, this is the first question to address.)
Digital marketing goals include elements such as:
- The number of social shares of your blog posts
- The size of your fan base on social networking websites
- Mentions of your brand on social media sites
- The number of positive reviews you leave about your company on sites like Google Reviews and Yelp
- Incoming website visitors from social networks
- Total number of conversions resulting from social traffic
If you have previously set goals, take the time to determine whether or not you are achieving your projections. Also, see if past goals still make sense for your business based on current performance. If necessary, revise the objectives to adapt them to the new objectives or take into account changes in product/service offerings.
Step 2: Review the profiles of the target customers.
Additionally, it’s important to remember that any good digital marketing plan is based on a set of well-built customer profiles that outline the specific types of people you want to reach through campaigns. So while you shouldn’t launch a new marketing campaign before you get an idea of your target customer’s demographics, interests, and web activities, you should continually develop this profile based on the latest data.
For example, if you have decided to target young men on Facebook but find that Facebook Insights reports that most of your “likes” are from middle-aged women, you may need to reevaluate all elements of your marketing campaigns to keep account of this new customer data.
Step 3: take a look at your digital presence.
As you review the types of customers you target, you will also need to periodically evaluate whether you are actively participating in the right digital properties.
For example, let’s say you are in an industry that caters to young women, aged between 18 and 26. If you launched your digital marketing campaign before the advent of social networking darling Pinterest, you could be missing out on a potentially huge source of traffic if you never took the time to determine whether or not you are active on the right sites!
Step 4: Evaluate Messaging Strategies.
Next, take a look at the specific types of messages you spread as part of your digital marketing campaigns. In particular, consider:
What types of posts (text-based status updates, blog posts, videos, podcasts, etc.) perform best with your audience?
Do the words chosen for the various messages seem to resonate with the audience?
How often are your marketing materials shared virally by users?
If your digital marketing message aligns with your customer’s expectations, you will see high levels of engagement with your brand materials and a high number of social shares as people pass your content on to others. If you still don’t get these results, this could indicate a mismatch between the company’s message and customer interests.
Step 5: Check Your Digital Marketing ROI.
The last thing to consider when it comes to evaluating digital marketing performance is the overall ROI. Calculating the exact return can be difficult, but in the end, you will find that the data you can produce is well worth your efforts.
To measure ROI, you’ll need to keep track of two different variables:
The amount you have invested in your digital marketing campaigns (making sure you take into account both financial investments and time spent)
To get a rough idea, imagine that your company spent $ 500 on digital marketing materials and $ 500 in man-hours to promote them. Now, if you determine that inbound visitors from social networking websites have generated 10 sales at $ 20 each (for a gross profit of $ 200 in total), you can understand that you will want to reduce or realign your digital marketing efforts.
If, on the other hand, you see that visitors to a particular social media website have accounted for 80% of sales, you may decide to refocus your efforts to focus on the traffic flows that have proven to be the most successful.
This post explores how Big Data can help you. By the end of this post, you will have learned a lot and improved your understanding of Big Data in digital marketing.
We hope that by the end of this post you will be able to:
1) Understanding what big data analytics is (the term has entered everyday use in the last decade).
2) Being able to explain what the different types and levels of Big Data are.
3) Know how to effectively use Big Data to integrate digital marketing initiatives (for example, how to use Big Data for customer segmentation, cart abandonment, etc.)
4) Understand how different types of Big Data can be useful for different types of digital marketing initiatives, including calculating ROI in your marketing plan.
5) Understand why it’s important for marketers to engage with their audience through their brands’ digital platforms, and not just rely on Facebook and Twitter.