Big Data, Analytics, Optimization, Automation and Artificial Intelligence… These are all words that a lot of the marketers and entrepreneurs have on their lips in 2018. The truth is that not many of us have a clear understanding of the power of data-driven decisions and marketing. Still to this day, some digital marketing agencies don’t track the results they bring to their clients. I once freelanced for an agency that was selling “results”, but it was not tracking ANY of the proper metrics such as calls and quotes that would be obtained through its marketing efforts.
In a way, I believe that data-driven marketing is the evolution of direct-response marketing. In the future, more and more companies will be seeking data-driven marketers to help them grow. In this article, I will go over what is a data-driven marketing agency, explain our data-driven advertising strategy, and then discuss automation.
What Is A Data-Driven Marketing Agency
“A point of view can be a dangerous luxury when substituted for insight and understanding.” – Marshal McLuhan, Canadian Communications Professor
A data-driven marketing agency is a company that offers marketing services based on data. In contrast to a regular marketing agency, the often digital data-driven marketing agency aims to minimize the guesswork when making decisions. A problem, however, arises: how to gather enough data to drive decisions from? I have created categorized two distinct type of data a company can use when it comes to marketing, the first is the outbound data and the second is inbound data.
What is Outbound Data
I qualify outbound data as the data that’s available out there, but that requires the marketer to reach out to have access to it. For example, when I was thinking about writing this article and positioning my marketing agency, I went out and checked for data regarding the two keywords I was hesitating on: “data-driven marketing agency” or “profit-driven marketing agency”.
I was able to choose my focus keyword or position myself by accessing outbound data through Ahrefs (which is, by the way, both a great and expensive tool). The results were clear, there was barely anybody interested in profit-driven marketing (because I assume that all marketing is profit-driven?).
To confirm my result, I accessed another great tool available in the marketplace that allows its users to access outbound data. I used the Keyword Planner by Google. It’s great because it allows you to visualize how many time a given keyword is searched monthly.
The idea here is to use tools that allow you to access and visualize data and then drive decisions from.
What is Inbound Data
Inbound data is the data that YOU should be capturing, analyzing and using. It’s also the data that is being derived from YOUR potential and actual clients when they are interacting with your business, whether it is online and offline. In this case, we’ll only focus on the online part of inbound data (because this strategy can also be used offline). The most known tool for analyzing online data derived from your website is Google Analytics. It’s great, it allows you to see exactly what your customers are doing on your website, what are they searching for and importantly who they are. There are other tools that allow you to visualize data, such as Google Data Studio. These tools are extremely powerful when combined together and with other software. They can be used to visualize a lot of data, and with Google Data Studio, you can create your own dashboard.
How To Make A Data-Driven Advertising & Marketing Strategy
There are some important considerations and things to implement in order to make an effected data-driven advertising strategy. Here are some of the important aspects to consider.
Track The Inbound Data With Your Facebook Pixel & Google Analytics
This is probably the most important part of the process when it comes to data-driven marketing, TRACK YOUR RESULTS. Take the time necessary to implement the Facebook Pixel onto your website and install Google analytics. This way, you will make sure that you know where your money is going, especially when you’re paying for traffic.
Do Your Market Research (Gather Outbound Data)
Make use the tools listed above like the Adwords Keyword Planner tool, Ahrefs or Facebook Audience insight. You want to know as much as possible about who you are talking to especially when you’re crafting a digital advertising campaign. A mentor of mine called Eben Pagan said one thing that resonated and it goes something like this:
“The highest paid research is talking to your potential customers” – Eben Pagan
Eben pagan also just recently released his free book called “Opportunity”. You can learn more about it here. This man has had a tremendous influence on me and still does to this day. I highly recommend buying his products whichever they are.
How To Visualize Website Data, Traffic and Conversions
If you’re interested in having me take a look and implementing data-capturing systems and help you visualize your online business, please contact me at charles@charlescreations or by joining my Data-Driven Marketing Facebook Group.