Data.
Those who work in the marketing world (and probably those who don't) will contest that this small four letter word that is often preceded by words like 'big' or 'small' has become so ruthlessly banded about that it is almost a commodity. Within a marketing context this 'commodity' can and should be used to continually optimise business success.But you know the above already, it's obvious and 'data' isn't a new thing....
'Data' is banded about so often that it would seem everyone is an expert in it. Surely all the 'experts' out there are maximising data-analytics to drive continued ROI uplift, customer satisfaction, a 360 degree view of their customers, personalised dialogue with the customer to drive engagement and minimise churn; all of which equates to arming their brand with that competitive advantage.....right?!
Wrong.
This post isn't about what data is and isn't, there are too many great (and crap) posts on that. Nor am I yet another self confessed data junkie trying to preach that data is the all and everything in digital marketing because all of the other cool kids are saying it; creativity has never been more important and most definitely has its place (Previous blog post Imagination is more important than knowledge). Having a very digital acquisitions focused background where ROI and accountability is everything, this experience has however moulded me to believe that data is the backbone to digital marketing, which should be used to plan, benchmark, measure, understand and optimise our digital marketing initiatives.
The problem in this day and age (as I see it) for many digital marketers isn't really about the collection of data itself - there are hoards of sufficient analytics tools and tutorials out there with simple implementation processes to collect basic and complex data. The problem is the abundance of data and the ease of turning the tap on to get that data vs (the lack of) a considered data strategy prior to turning that 'data tap' on and an on-going measurement plan to benchmark against.
It continually amazes me at how often marketers jump head first into a digital marketing initiative - be that development (e.g - website / app build), optimisation (e.g landing page / sales funnel), campaign (e.g channel performance/attribution and ROI) before having a considered digital measurement strategy that ties back into the fundamental business objectives. And let's be honest, too often the business objectives are either so generic or just generally unclear.
If every person who works within the digital marketing space - client and agency side - knew, understood, and utilised something as simple and fundamental as the digital marketing and measurement framework explained below at the start of every digital marketing initiative, more brands would be dominating within this space. Dominating defined as real measurable results that meet real business objectives as cost effectively as possible. Despite the pure magnitude of self proclaimed marketing 'guru's', 'ninja's' and general know-it-alls, the sad reality is that something as simple, basic and fundamental as a digital marketing measurement plan is often forgotten, neglected or simply not used.
