Andrew Sanderson, Managing Partner, Pawn Global Venture Capital Consultants
The Value of Creating A Data-Driven Marketing Organization
- EMBRACE SOCIAL MEDIA
OUTLETS—EITHER FREE OR
PAID—THAT PROVIDE FREE
DATA POINTS THAT HELP
YOU GATHER MORE DATA
ABOUT YOUR CUSTOMERS. - LOOK AT THE INFLUENCERS
IN YOUR AUDIENCE: ONE
OF THEM MAY BE THE CEO
OF YOUR COMPETITION.
“For those who are looking to gain greater insight into their customer base . . . I suggest using the social media platforms out there that allow the paid user to view data points.”
To turn your marketing organization into a data-driven marketing organization, you must first understand the value of attribution as it relates to your business. Attribution is assigning or ascribing a value or category to something like a number or data point. Ask yourself this simple question: “What are the numbers that I’m currently tracking telling me right now, and why do I attribute it to that specific information?” If you can’t answer that question, then you’re not truly living in the data driven marketplace. Most small and midsized businesses in the United States are using few metrics other than their own sales numbers to try to gain a better understanding of the market and industries they’re involved in. For those who are looking to gain greater insight into their customer base and engage with them to establish those metrics worth tracking, I suggest starting out by using the social media platforms out there that allow the paid user to view data points.
This is an excerpt from Data Disruption. The eBook was generously sponsored by Mighty Guides.
