Marketing has always been in equal parts art and science, but the science has become increasingly hard and detailed in recent years. Digital marketing allows you to put hard data to work in a big way, and help you make the profits you desire.
Market segmentation has always been an important concept for savvy marketers, but it’s historically been difficult to leverage effectively. With the improvement of data collection and parsing available to modern digital marketers, however, segmenting your prospect base has become more effective and simpler than ever before. A well-equipped marketing team can use web analytics to section consumers by traits far more important than simple demographics, then divide them automatically for targeted marketing based on behaviors, lifestyle, and other highly indicative traits.
2. Resource allocation
Who should you be spending your money on? Which channels provide the best return on investment? Would you make more money increasing conversions or increasing raw traffic? These are questions best answered with hard data. It’s not enough to throw ad dollars at pay per click ads and wait to see what happens – before you realize it, you’ll have endless expensively-generated traffic that never converts to worthwhile sales.
3. Lead scoring
Technically, this is just another aspect of resource allocation. With the right data in hand, you can quickly identify leads most likely to be profitable for your business. Then, you can make sure your sales team targets those leads first, with the greatest possible effort, to maximize their own efficiency. Modern CRM suites make this quite simple.
4. Customer satisfaction
It may be strange to think of customer satisfaction, the factor that decides whether a customer recommends you to friends or trashes you on Twitter, as something to watch with hard data and analytics suites – but that’s exactly how you should approach it. Good market segmentation makes sure you hit the right people with the right marketing, and never something that will turn them sour. Good data gathering watches return rates, customer support calls, follow up purchases, and the responses to customer surveys to figure out how happy customers are after they buy. Since long-term success depends on satisfied customers, this is extremely valuable.
Contact Monster Media today for more digital marketing tips. We’ll use our knowledge to create a strategy that will work for you and attract your ideal audience.