Here at Garritz, we pride ourselves on always backing up our every decision with data and facts. Whether it’s for the creation of a paid campaign, an organic content strategy, or the optimization of a web page, it is highly important to rely on facts in order to provide a well informed service and deliver the best results to our clients. As research technologies evolve and obtaining reliable data becomes easier, it is essential to know how to efficiently use this information to improve our marketing.
With technologies like AI and Big Data, the information that is at our disposal is infinite. However, having an abundance of information doesn’t always yield the best results. In order to optimize our data, we must forget about collecting loads of information and then seeing what is useful for us. Instead, we must collect data with a purpose in mind, and focus our efforts into using data strategically through a quality vs. quantity approach.
In order to have a more effective set of data for your strategies, consider having a set of data that doesn’t just come from third-party providers. When we create strategies, we must always keep the client in mind, and there’s no better way than honoring their needs than by creating our strategies with information coming directly from them. Although it may be easy to collect data using technologies like Big Data and AI, at the end of the day we are still human and require that human touch to give our strategies life, beginning with the data we use to create them. Consider creating your own studies and experiment with different methods to see what truly resonates with your audiences. In this case, striking a balance between consumer feedback and third-party feedback is key.
Another recommendation is to only collect data that will help you provide value to the consumer. According to Martech, the first step in doing so is asking the right research questions before collecting any data. This will in return help us marketers better fulfill our audience’s needs. Martech suggests asking the following questions:
- What data is essential to improving CX and Customer Lifetime Value (CLV) over time?
- When customers provide you with their personal data, what value are you offering in exchange?
- What sources should we use for th data?
- How can we minimize the amount of data our company collects (“minimum viable data”)?
By answering these questions, we will have something that guides us towards what exact data we are looking for to better understand our consumers. By fully understanding their consumption behaviors and needs, we can offer them the best services and products.
The most important thing to consider when collecting data is to be completely transparent about what data is being collected, how it’s being collected, and with what purpose. By adopting a minimal approach, only collecting what you need, and being transparent about it you will obtain and maintain the trust and loyalty of your consumers. This is something that businesses and brands are struggling to achieve thanks to the increase in skepticism within the digital marketing and advertising industry. As long as we’re honest and transparent, consumes will be willing to share their data with us, and thus we will be able to optimize our marketing strategies to suit their needs, as well as the needs of a business or brand.