It’s no secret that in the current business climate, there is nothing more valuable to have at your disposal than data. Learning how to leverage data as a resource is a critical part of developing an enterprise. Here are a few ideas on how to integrate data into your marketing approach.
Back Yourself Up
If there’s one thing that consumers trust more than anything, it’s facts and numbers. No matter how much you push your products or services with promises and claims, hard statistics are always more convincing. Simply put, if you have provable numbers, you should be using them.
For some industries like online casinos, the differences between games and sites often come down to the calculations behind them. Statistics like RTP, or Return To Player, become key features for players in choosing a game, and as such these are often highlighted by providers. The best RTP slots in the UK are those that have good percentages to back them up. An RTP that is over 96% instills confidence in existing players whilst also attracting new and potential players.
Focus Your Efforts
This use of data is probably the most familiar to anyone who has worked in marketing, as it is easily the most ‘traditional’. Simply put, it’s about knowing your potential customers. Of course, collecting information on consumers is a cornerstone of market research, however, many marketers do not realize the level of detail you can go into.
For example, many companies will look solely at the area where someone lives, or their rough age range, to inform marketing decisions. At the other end of the scale, you get companies like Amazon which can leverage massive amounts of data and look at such small details as peak online time, commonly linked items and even ordering habits to best speak to their customers. Simply put, the more data you have, the more effectively you can reach people.
Learn From The Competition
Probably the hardest data to collect is any data on your competitors, simply because everyone is trying to keep their cards close to their chest and hold an advantage. With that said, there is plenty to be learned just from looking at their activity from the outside.
There are a range of marketing features you should be looking for. These range from more overt elements such as their target audiences and media types, to less concrete components like their overall strategy. On that last point, though, data analysis can help by establishing patterns, trends, and even predictions of what they may try next. If you can reach the point of predicting how a competitor moves forward, it allows you to create your plans to best challenge them instead of trying to play catch-up.
Of course, this is only the very tip of the iceberg on using data in both marketing and your wider business, but it does highlight how important having at least one data expert available can be. Whether it’s in-house or an external specialist, it’s more than worth it.