Heavy demands for ROI have marketers constantly chasing the numbers. And while we know marketing is one part math, one part magic, at the end of the day you still have to deliver results to your stakeholders. And for performance marketers, who are particularly focused on interactions and conversions, every touch counts.
Earning customers isn’t just a game of knocking on doors and finding them. You have to use information – that you often already have – to guide how and when you are reaching existing and potential customers. And there are pitfalls in this process.
Not understanding your customer information
Data is truly our greatest resource but can make or break your opportunities for finding, serving, and retaining your customers if you’re not using it correctly. Things can easily come unraveled if you’re not looking at the right data sets – or worse, not looking at your data at all – to inform your marketing and customer service decisions.
Speed-to-lead, for example, seems pretty straightforward. An inquiry comes in, you return the call. But do you know when that inquiry came in? Was it 5 minutes ago, or 5 days ago? To a large degree, this speaks to staffing and technology, but it comes back to a lack of information about the prospect and how long it waits for contact. And this lack of information is often caused by not knowing where to look.
A messy database
How clean is your database? If you’re serving businesses, are you buying leads you already have? Are you getting past the gatekeeper and to the real decision-maker? High open rates don’t matter if you’re not reaching the right contact. And similarly, consumer marketers face the issue of cluttered databases leading to poor messaging. If I just left the store after purchasing a KitchenAid, will you email me a coupon for a discount on KitchenAid a week later?
In an increasingly competitive marketplace, seeming out of touch can quickly break a good campaign, and have your customers headed elsewhere. Knowing which customers are most interested in your brand is the keystone for campaign planning—and driving sales. Every touch counts.
So much of your ROI lives in finding engaged users. This means understanding insights into customer and market statistics. Avoiding data management pitfalls allows you to demystify this data and let it inform your campaigns. Data has to drive your strategy but in order to see results, you need to have good data and be looking at the right sets.
While we all feel the pressure to deliver results yesterday, it’s important that we don’t skip the fundamentals. Once you have a healthy database driving your campaign decisions, your KPIs will make a lot more sense—and performance will be higher.