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Understanding the Power of Data
It’s a fact that about 90 percent of an iceberg lies underwater. That means photos of the frozen behemoths reflect only about 10 percent of the mass of the berg. Yet, most of us concentrate on what we can see, not what we cannot. The same is true for marketing. Too often, potential clients engage our firm to discuss the "pretty side" of marketing such as the design, branding, photography and music, but they don't give much thought to the placement and collection of data generated by the campaign itself.
There has never been a better time for marketing professionals to gather data. Tracking such data, synthesizing, searching for trends and habits and then turning it into more targeted campaigns is the smartest way to ensure a successful marketing campaign.
This "below the water" approach to marketing can assist in tweaking content to focus on a more interested audience, ensure better choices when it comes to placement of traditional and non-traditional advertising buys and ultimately increases the effectiveness of an initial engagement from a potentially interested consumer to a loyal end-user of your product or service.
Ask yourself these key questions before beginning your next marketing campaign:
Who is my audience? It is important you are positioning your products and services to those who want and need it the most.
What is the best message? You have a very limited amount of time to grab the attention of, and gain instant credibility with a consumer.
Is my message vehicle appropriate? You can't catch fish in the dessert. Find the specific medium such as print, radio or digital, that will connect with the greatest number of potential consumers.
Are you listening to the data? Try a variety of A/B testing. Consider the analytics of your website, social media links and even telephone calls to correlate an increase in traffic with different marketing campaigns.
The greatest asset any company can have is understanding the 90 percent of marketing that is most important. Anyone can design a pretty label - it is knowing how and where to position that product that has the greatest impact on your bottom line.