Today’s marketplace is data driven. Understanding the value of response rates, associated costs and generating calls can mean the difference between a healthy ROI, and one in need of resuscitation. Data is the key to understanding where you have been and projecting where you want to go.
So why do only 40% of marketing partners engage in smart data practices? Failing to do so is a surefire way to lose to the competition.
Savvy marketers develop advertising strategies that focus on results utilizing the science of the data and the learnings gathered from that data, not just the look and feel of the creative. Taking raw audience data and turning them into usable, targeted information is vital to selecting the correct audience segments and determining the correct messaging for your marketing platform.
Also, collecting and analyzing real-time data is essential to cleansing and enriching proper audience targeting. Want to maintain a low Cost Per Lead (CPL) and a high ROI? Cleanse your target data regularly.
Lastly, selecting an effective format is crucial. Whether it’s direct mail, email or digital, the right data can help guide your decision-making in selecting the right way to message your product. But, how do you know if your new creative is a winner? Easy. Test, test, test. For more information on how to test, download our featured white paper today.
Pitch your new, untried data-driven format against a previous winner and watch how it measures up. If the response rates are solid—great! But you will also need to analyze it for Cost, CPL and CPC as well.
Collecting data is the best way to develop your advertising strategy. It’s absolutely essential. That’s why you need a strong data partner who can help you turn raw data into valuable marketing insights.
See our recent blog on the science of data analytics.