How Enriched Data Can Boost Marketing Roi?
Category: Business Ideas
13 Jul, 2017
Massive amounts of data is piling up around us – data which can bring out profitability to a business.
However, utilising this data to bring out actionable insights depends on the dependability of the data available. And Data Enrichment does exactly this! Data Enrichment enhances and refines data to arrive at data-driven solutions to challenging business problems.
Businesses using data driven results for decision making have not only encountered increased productivity, but also have seen rapid improvement in their ROI (Return on Investment). With the right tools in place to gather data and analysts to break down and research this data, making data driven decisions will become more effective. Google Analytics, SalesForce, Marketo are marketing tools to name a few.
Here are a few ways in which Data Enrichment helps improve ROI:
- Marketing management – Be it your marketing budget or the content, data gathered and analysed gives you an edge in monitoring what should be your target and focus. Data enrichment powers marketers with the right data to analyse what the target audience is interested in and what engages them the most. Few views and no social engagement translates to the disinterest of your audience. Analysts also gather information on which media to spend, thus limiting their budget.
- Boost user experience – User experience converts to customers. It is easy to draw a potential customer to your website, but making them a customer is not that simple. Heatmaps give analysts data about which page the user is clicking on or is spending maximum time. Analysing this data can give an insight into what the user expects from each page. A user hovering over a text-box for more information or clicking on a link which does not work are triggers to a not-so-happy experience. Such experiences help revamp you website to suit customer's expectations.
- Advantage over your competition – One of the best things, other than your own success of course, is to know what your competition is up to. Knowledge of what social media strategies your competitors are employing to how many likes and retweets they have garnered helps strategize your own marketing. SEO/SEM helps learn about keywords ranked by your competition, enabling you to curate your content to outrank them.
- User Engagement – Content marketers strive to provide valuable and relevant content to their readers. Data Enrichment and content marketing might not seem related, however ways in which enriched data improves the performance of content is mind blowing. Analytic tools to gain insight into which content/blog has gained maximum likes in turn leads to future blog posts.
- Getting closer to your audience – Enriched data provides you with information about where your viewers are from. Using analytics helps you know which region has viewed your post/blog/video the most. This not only helps to concentrate and build audience in the other weaker parts, but also promote more content in the active regions.
- Create a user base – Data over a number of years, if analysed, can give you a detailed portfolio of customers. This helps in creating marketing strategies to precisely target custom audience ensuring maximum reach via social networks.
Understanding the power of data and taking steps to ensure your data is enriched takes your performance to the next level. Know more here>>>
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