To ensure that your marketing department contributes effectively to your business, you need a valid data-driven strategy. Data can reveal the strengths and flaws of every part of your business and allow you to make strategic decisions that will help your marketing efforts become more flourishing.
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87 percent of marketers believe that data is the company's least used asset. How do you integrate data-based marketing into your company and avail its benefits? Here are few steps you can take to ensure that you use data to effectively manage your marketing strategy.
1. Build your team
Before you start analyzing data, it is important to form a team to process this data. This team must include members from various departments and interdisciplinary teams. Prioritize collaboration between these people by planning frequent and targeted meetings where everyone can share ideas and information and be recognized as a successful team.
2. Set your goals
Before you start collecting data, you must take one more step: You need to know what data is worth collecting. Identify which data types can have a positive impact on your marketing strategy.
3. Collect your data
After you want to start collecting data, make sure you put it in one place for easy analysis. After researching the data, you can find out what is happening in each phase of the customer's life cycle, including information such as: problems at the point of sale, complaints or service calls, online recommendations and subsequent purchases.