Marketing today is totally different to marketing just five years ago and is almost unrecognizable from 15 years ago.
This comes down to variety of metrics that need to be looked at in 2015, from the old school metrics like basic ROI to some of the most complex sentiment analysis' available today. There are thousands of ways to measure every aspect of what your customers do and each company will be able to find the best ways to do this, but how do you know what you should be focussing your data gathering around?
Below, we have outlined the four key areas to concentrate on.
Engagement with your audience is absolutely key to marketing today. If you have an incredibly engaged audience, but are not converting this to sales, then you are failing as a marketer. Equally, if you are acting as if your audience is more engaged than it is, then this could damage your brand.
Being able to see how people are responding to your marketing techniques is going to be key to making sure that you are communicating with them in the correct way.
This needs to be more than the metrics taken in isolation from each channel and instead you need to see where people are engaging with you and how you can better use these platforms.
For instance, it may be that you are getting a better response from communicating with your audience through Facebook rather than Twitter, or plain text emails compared to HTML rich versions.
Knowing this is key to keeping an audience and then converting them to customers.
How your brand is perceived is always going to be important to knowing how you should be promoting certain products and services to your audience. If your brand is perceived in a certain way then this needs to be known then either embraced or changed.
If you are perceived as a serious and traditional company then trying to adopt a more colloquial and youthful tone is not going to be a success and equally if you are seen as a fun brand, then trying to be serious will have a similarly negative impact.
Having awareness of this is essential to knowing how to communicate with your audience and how they are likely to respond to a message.
Your data should not just stop at what people think about your brand either, it needs to be about every brand you associate yourself with. Collecting data around your partners allows you to make decisions based on whether it is a relationship that your company should be in.
In today’s business landscape there are more chances than ever to segment your audience and cater to as many niche areas as possible. It may not even be that you are discussing different products, but more that the same products will need to be marketed differently to different people.
The only way to do this is through having the ability to segment audiences based on the information you have.
This is not just useful for marketing to your own database and your own audience though. Knowing how demographics react to your communications means that you can target specific audiences better on external networks such as targeted programmatic campaigns.
The more information that you can get from your own sources, the more likely it is that you are going to be able to get a better response and therefore better ROI from any other network you communicate with in the future.
When looking at how successful a campaign has been, it is often difficult to gauge what the general consensus has been towards it, even if it has had a considerable amount of clicks or purchases.
For instance, has this worked well with one demographic, but not with another?
Having the ability to scour social media to see what people have been saying about a particular campaign is going to be key to this. If it has been chastized by a large section of your customers then you need to know and equally if it has had particular resonance amongst a new audience then this can be leveraged in future.
Being able to assess how they have received this is key to understanding and then using this information for further marketing gains or to make sure that your messaging is on point in future.
Today we see that the best marketing campaigns are the ones that are on the edge, the really experimental ones that many believe to be the work of genius. In reality, it is genius, but more in the processes that go into creating the idea rather than in having the idea itself. Take House of Cards as a prime example, it was created through data. The Netflix audience like Kevin Spacey and political dramas, putting these together gave Netflix a highly marketable product that turned out to be incredibly successful.
The same can be done in your marketing campaigns, you just need to be able to see what people want and then give it to them.