Data science in marketing
Digital marketing guru, Neil Patel, has just released his take on the top two marketing careers in 2020 and beyond. One of the topics really resonated with us - can you tell which one?!
Data science and insightful interpretation of digital marketing data is one of the most under-utilised areas of opportunity in many businesses I've worked with, yet offers such potential in both cost savings and returns.
With digital marketing audits and strategies being one of our key services from the last few years and well into this year, we're well versed with the benefits they can offer. Whether a one-off audit project, or ongoing data reporting insights, analysing what's going on behind the scenes is always worthwhile, and often brings tonnes of hidden value to the table.
Some of the key areas we've seen this help our clients include:
- Visibility of the day to day
- Understanding the impact of channels and campaigns
- Clearer understanding of who the target audience are and the best ways to reach them
- Effectiveness of current marketing to understand where their time and resources are best invested
- Creating insights based on historical performance to help inform decision making
As Neil explains in the video below, there are now so many channels out there, and so many various types of metrics, it is not surprising that many companies struggle to create a coherent analysis and map out a plan from there. A high quality marketing analyst should be able to interpret your various formats of data and apply insight to help direct your marketing strategy.
Getting this right is so important - too many businesses spend money on marketing which is having the lowest impact, whereas the untapped opportunities can be huge where they are not investing right now.
Spending time on understanding and interpreting data on your website, email, social media and paid advertising is critical in order to optimise marketing spend and ROI. Simply spending money and not being able to see the impact of your digital marketing should no longer be acceptable.
However, this is an area which is relatively quick to resolve and should be well worth your time. We help clients with on a regular basis, as both ongoing consultancy and one-off audits to give you the insights you need.