With today’s business going digital there is no more excuse for not using data driven marketing. Today’s marketer’s are becoming smarter, more technical and mixing creativity with hard numbers. Before starting, let us first define what is data analysis
The process of systematically applying statistical and/or logical techniques to describte and illustrate, condense and recap, and evaluate data
Why is data important in digital marketing?
Because it’s what sets it apart from traditional marketing. We can literally measure almost everything. With data you can understand what’s working online, whether you’re on google, social, etc. You can see and track type of traction you are getting from your efforts, what content is being viewed, how people spend, where people are viewing from, etc.
Before we go deeper we need to understand what is correlation vs causation
Correlation is when two numbers trend in the same way, looking at the black and yellow lines, the two numbers grow in the same way. Causation means that those two correlated numbers actually related to one another.
Is the number of facebook related to the greek crisis? NO! so obviously the two numbers corelate with one another but not causation. Correlation does not imply causation.
For example, in this diagram, it gives a sense of understanding how customers contribute to your overall revenue. Male orders may order more, but female customers spend more.
Data drive marketing will give you confidence with your decision making. The key with a data driven marketing is how you convert the data you have with actionable items. For example, if you are running an online store and upon reviewing your analytics that email newsletters create the highest conversion rate. This means that you can push more email campaigns to create more revenue.
Aside from Google Analytics, Facebook insight gives you a good understanding of your social media marketing strategy. Why use Facebook insights?
Because it is a powerful tool for those wanting to track user interaction on their Facebook Page