As they say, never too much money or health. But too much information is very much the case. Online marketers need to control the flow of data, otherwise they just fill up with head. However, despite the gloomy forecasts, you can still get out of this rubble.
A report on the results of a survey of more than 700 marketers called “A lot of data, little use” explains that it is imperative to analyze the collected data: at the moment, experts are doing an excellent job with collecting data, but not everyone knows how to process it. While many companies collect and effectively use information from individual marketing channels (for example, email), the rest still do not understand how to use the results of such research to attract new customers.
Below are the survey results that may upset some marketers:
- Almost half of the respondents admitted that the analysis and further use of information will be the most difficult task for them this year.
- More than a quarter of marketers could not remember when they last carried out a quality control of the information collected.
- Nearly 40% said that the results of marketing data rarely or never influenced their business policies.
Pretty dismal conclusions, right? As it turned out, most companies are still focused on the development and application of very limited marketing approaches, moreover, designed only for a broad market.
Below you can find some important lessons for online marketers working with a lot of information.
It is not surprising that online channels, including e-mail, social networks and websites, have become the main platform for gathering information about customers - after all, they are the easiest to do.
The report states that marketers should communicate closely with consumers in the networks where they most actively share their personal information, and their companies should invest in the tools necessary to collect and store such data in all networks.
As for traditional marketing channels, there are some problems with them: most of them are tied to advertising agencies, which are still aimed at a wide market. Most likely, this is because such companies were developing at a time when mass marketing was the only effective tool.
Online marketers are usually too lazy to clean up their customer database, and this should be done weekly or at least monthly. This is an obvious rule, but large companies still continue to store tons of irrelevant data.
More than half of the respondents stated that they filter the collected information quarterly or even less frequently. Another quarter admitted that they do not remember when they last updated their client base. It seems that marketers began to turn into Plyushkin collectors who never throw anything away to make room for more valuable information. As a result, decision-makers have to operate on outdated data that can cost them customers and profits.
Regular filtering of data has many advantages: it increases the relevance of mailing for customers and reduces the likelihood of providers being blocked by complaints from subscribers.
The collection and storage of data has become much easier and cheaper, which disproportionately increases the amount of information received. The fact is that it must also be processed at the same speed, so investing in analytics is no less important.
Fortunately, today there are easily accessible tools that can slow down an endless stream of information. Companies that have a lot of data and little understanding of them now have a huge amount of analytical tools at their disposal.
Now the market is full of funds for monitoring clients and responding to their requests. Today it has become easier than ever to gain a valuable understanding of customer behavior and the market as a whole, its preferences and trends. This allows you to quickly and efficiently respond to any changes.
Recruitment is one of the types of investment in analytics, and 56% of respondents are ready to implement it this year. Marketers, considering the possibility of recruiting additional staff, should first of all properly prioritize them.
Despite the fact that companies are ready to increase their investments in online marketing, they still can not understand that their goals and resources do not quite match the capabilities of specific markets and will not be able to provide an understanding of customers. Therefore, simultaneously with increasing resources and staff, you need to start thinking more widely and learn new marketing technologies.
Nearly 40% of respondents admitted that the results of marketing data rarely or never influenced their business policies. This is not very good, since addressing the customer is the very first step of brand promotion, and this process requires more careful study.
For marketers, the most important thing is to provide customers with relevant and interesting information in order to attract their attention through various channels. It is also very important to draw conclusions from each advertising campaign, deriving indicators that provide profitability to justify investments in personnel or technology.
Despite the huge amount of information and the need to quickly process it, modern data processing tools allow them to “digest” them very quickly. With the help of analytical tools, you can easily analyze the collected information in the context of a specific market segment, as well as learn to speak the language of consumers and respond to their needs faster than competitors.