Here at Mojn we’re all about data. Data can literally change the way you run your business and improve your sales. We’ve seen the power of data first hand with our clients. The more data you have about your visitors’ on-site behaviours (we shouldn’t forget off-site behaviours, too!), the more you can save on sales staff as you’re getting your site to do it for you automatically and the more your can increase your ROI.
But…and there’s always a but, right? The data has to be used properly.
Oftentimes, data isn’t used right. That’s because issues about how to store the data crop up at almost every stage in the marketing strategy process and are never really resolved. After all, the data you collect is only as good as the database holding it. If you can’t extract the data to easily analyze your efforts and adjust where needed, you might as well not have data at all.
Whether you already have a bulky database, or are just starting out, you should consider the following if you want to make the most of your data.
Do you actually know what data you want to get out of your database?
These days its so easy to get data that many marketers take an ‘everything and the kitchen sink’ approach to collecting data. Rather than create a specific strategy with a defined outcome, many people use their databases as a catch-all, full of pretty much every piece of information they could ever want. On the plus side, they have all the information they could ever want on their site’s visitors, which is a powerful ally when making strategic marketing and advertising decisions. The downside, however, is culling through all the data to find the pertinent bits of information necessary to make strategic, data-driven decisions. Much easier to have several small databases with specific functions than one large database that leaves you drowning in data.
Include other stakeholders
Your databases can be even more powerful if you work with other stakeholders in your organization to create data models that you can backfill with your database. A good place to start is the customer journey, so work with your branding team to gain a deeper understanding of an individual’s interaction with your brand from first exposure to after a purchase. You can learn about what data is relevant to your sales cycle this way – you may have a few surprises about the data you’ve been collecting that you might not need, or data you might need instead.
Unlimited data means unlimited options, but… sometimes getting too granular just isn’t efficient.
Use predictive analysis
Unlimited data means unlimited options, but all of us have long to-do lists, so sometimes getting too granular just isn’t efficient. You can still get value from individual-level data without understanding the actual individual by using predictive analysis. Predictive analysis enables you to rank site visitors based on aggregate on-site behaviour and conversion rates, so you can optimize your actions based to individuals based on that ranking.
There’s lots you can do with data, but you’ll often find you’re inhibited from analyzing and acting unless you make amendments to your database.