Maximize Marketing ROI Tomorrow by Improving Data Today

by | Nov 20, 2019

How Data Quality Will Determine Digital Marketing Success

Today’s digital market­ing head­lines are domi­nated by advance­ments in machine learn­ing and market­ing automa­tion. They high­light value propositions―like lower cost per acqui­si­tion, higher conver­sion volume, and dynamic decision-making―based on indi­vid­ual user data at the auction level that is thou­sands of times more gran­u­lar than manu­ally controlled bidding. In addi­tion to automa­tion, it’s nearly impos­si­ble to ignore the growing impor­tance that audi­ence segmen­ta­tion and person­al­iza­tion play in increas­ing market­ing conver­sion rate and decreas­ing your acqui­si­tion costs.

While advance­ments in automa­tion and targeted audi­ences certainly inspire dreams of smarter, cost-effi­cient digital market­ing, one crucial detail is often over­looked: data quality. The future success or failure of market­ing programs is not depen­dent on the strength of algo­rithms or number of audi­ences deployed, it hinges on what data powers those algo­rithms and audi­ences.

What can you do today to make sure competi­tors don’t leave you in the dust of a heavily auto­mated and segmented tomor­row? You can ensure your data is accu­rate, timely, and action­able.

Accurate

Eval­u­ate your measure­ment plans and analyt­ics archi­tec­ture for poten­tial track­ing issues. Signs of a problem include, but are not limited to:

  • Your finan­cial systems showing differ­ent eCom­merce sales figures than your analyt­ics plat­forms, 
  • Seeing refer­rals from your own site in your analyt­ics report­ing
  • Being unable to link your CRM or customer data to spend and visit data.

Feeding an auto­mated system incom­plete or inac­cu­rate data compro­mises the effi­ciency of automa­tion by “teach­ing” the algo­rithm to target user behav­iors that don’t fully match your target consumer.

Timely

Just like humans, auto­mated market­ing systems work best with real-time data. Are there manual processes in your report­ing chain or other consid­er­a­tions that add delays of 24 hours or more? In some cases there may not be an easy fix for delays, but you should be looking for ways to improve those processes today. Connect­ing CRM plat­forms to market­ing plat­forms via API vs. manu­ally upload­ing conver­sions can cut down algo­rithm “learn­ing” time and improve effi­ciency. Remem­ber, every day your data lags is a day a competi­tor is glean­ing insights and making adjust­ments to posi­tion them­selves ahead of you.

Actionable

The key to long-term digital market­ing success is the gran­u­lar­ity at which data is collected, measured, and deployed in align­ment with overall busi­ness goals. As digital market­ing processes become more auto­mated, marketers have more time to build highly segmented audi­ences and eval­u­ate perfor­mance data to inform strat­egy and improve ROI. If your data collec­tion processes and tooling are not config­ured to facil­i­tate gran­u­lar segmen­ta­tion and acti­va­tion, your data is not as action­able as you need it to be. 

What if an adver­tiser doesn’t adhere to all of the three afore­men­tioned data prin­ci­ples? What if you’re aligned with the singer Meat­loaf, so two out of three aint bad, right? Wrong. Meat­loaf is always wrong, but that’s besides the point. Accu­rate data is the foun­da­tion of all market­ing deci­sion making. With trust­wor­thy data, you can trust automa­tion to make the right deci­sions, reach the right audi­ences, and effec­tively gauge the impact of your strat­egy. Timely data keeps audi­ence lists as fresh as possi­ble and allows market­ing automa­tion to opti­mize in real time, reduc­ing waste spend and improv­ing CVR & CPA. Action­able data lets you iterate, test, imple­ment, improve, and grow your market­ing efforts by using your unique first party data to drive budget and effort to the areas of highest possi­ble return. The sum of all these bene­fits is improved market­ing ROI, fueled by reli­able data and optimal budget allo­ca­tion driving increases in conver­sion rate and cost per conver­sion.

Lastly, let’s assume you don’t want to be left in the dust as the compe­ti­tion adopts automa­tion and layers targeted audi­ences into their market­ing efforts and you aren’t sure where to start. Or you feel like your orga­ni­za­tion needs some help along the way. Maybe you feel like you need assis­tance with market­ing automa­tion and audi­ence segmen­ta­tion as well. At Search Discovery, we help prepare adver­tis­ers for the next gener­a­tion of digital market­ing across all levels of data and market­ing sophis­ti­ca­tion. 

We’d love to hear from you, so contact us if you’re inter­ested in learn­ing more about our approach and expe­ri­ence.

Contact us to learn more about our approach and experience.

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