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Why data is important

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Digital transformation, blockchain, AI, big data, internet of things…apart from being this decade’s corporate buzzwords, what else do they have in common? Yes, that’s right.  They are all about data.  

But what is data?  Data is a collection of facts (which we often call metrics which are the numbers, words, measurements, observations etc) that has been translated into a form that computers can process and humans can analyse.  

A collection of facts, that’s a good start.  Data gives companies access to information which isn’t always generated by themselves.  With macro, micro, real time data all being used at various times within multiple departments to provide business insights, if you’re organisation is not a data led organisation then you need to ask yourself why not? And how quickly can we become one?  

But the skill is not just in collecting the data it’s knowing how to read it.  Data is valuable, but the insight gained from analysing it is priceless.

 Data: Bodyguard audience peaked with 10.4m viewers for series finale

Insight: There is still a demand for linear TV

When you’re planning your digital marketing strategy you’ll need to start by setting your targets, remember that you have real evidence from real customers.  You just need to know where to find it and what to do with it.  

At Adido, the data we consider isn’t always from previous marketing campaigns; we like to look deeper than Google and website analytics and into data from CRM or booking/management systems.  For example, for our travel clients we may look at the environment and consider the weather and lead time on booking to going holiday.  Previous sales information provides you with geographical data, product sales based on audience segment and sales value.  

All this helps with benchmarking, determining your ROI and setting your targets.  Use data to forecast trends and build long term digital strategies where you can concentrate on driving down the cost of your advertising or CPA.  Knee jerk spending decisions within digital marketing often return a significantly less ROI, so use the data to predict trends.  

Use the data to be commercially responsive because if you stand still then the competition will eat you up.  It is more important than ever to stay agile in your business, especially within marketing and product development.  

By understanding your sales trends you can accurately forecast budgets, so that you’re ready to pounce on an opportunity to increase your lead generation or get more sales.  Use data to test and optimise whether it be campaign copy, product features or channels.

 

Our conclusion

We’re in the era of data and if you’re not using data to inform your business decisions by now, then you really should be.  Data isn’t subjective, because numbers don’t lie.  If we’re looking at what it brings then we can’t avoid the fact that data is able to validate business decisions.  

From the data and insights, we can work with you to complete the actions that make the difference, whether it’s a new website, slicker UX, building your online presence socially, re-engaging your web visitors or media buying, our solution is end to end from research to online transaction and into customer retention.  

Understand your customers and build better relationships. In digital marketing it’s easy to get personal when we know how.  Deliver relevant content based on audience segmentation, look at website navigation and check the audience can find what they need and improve the customer experience as well as the optimising the conversion.  

 

How we use data at Adido

When we start working with a new client we start by understanding their business objectives, then their marketing.  This puts us in the picture and gives us an indication into which data we need to start looking at.   

We then take our benchmark before setting KPIs and metrics that will be used to measure and test our performance.  We continually use the data as a guide during our activity and see it as a fundamental part of our digital strategies success.  

We use it to gain valuable insights into our clients markets and their audience’s buying patterns, which we see as vital when forecasting media spend and ensuring the right message, right place, right time.  

As an example we used insights to forecast the sales pipeline for our client and predicted that the target wouldn’t be reached unless they increased the spend on a particular campaign.  We did this and helped to exceed their target.

 

Taking action from insights

The pink arrow shows the line which indicated that sales targets were not going to be reached.

To find out more about our award winning ability to create actions from data insights, please visit our Hoburne holiday case study.  Alternatively, if you'd like help understanding your own data to provide actionable insights then please get in touch or you could watch our video content series which is coming soon.

 

 

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