Retail CMOs are using data now, more than ever, to inform their marketing decisions moving forward. Marketing teams that don’t lean into data analytics are at risk of moving too slow and missing key insights that will better inform their marketing efforts.
Here are a few ways to use digital data for retail marketing:
Your customer’s journey
Answering the questions surrounding your customer’s journey will uncover some amazing insights. These insights can then be used to form new strategies and tactics that not only convert better, but will remove any friction you may generate in the customer buying cycle.
Testing, testing, testing
The beauty of digital marketing is being able to test anything you want. Of course, you want to start with some informed assumptions based on your observations. From there, anything is possible. The data will speak volumes.
Understanding the competitive landscape allows you to step out of your silo. It’s been said that in house marketers are inside the jar and can’t read the label. Competitive data will take you one step outside of the jar.
Tracking the right metrics
Measuring what matters to your organization is pivotal to understanding if you’re driving tangible outcomes. The first step is tracking value over volume. Instead of measuring how many visits come to your website, take it one step further and assign a value to each visit. Context is important in data analytics.