Data is important and it allows us to evaluate. But, do you know what you're looking for? Like with any tool you need to know how to use it correctly.
So what am I saying? What does your market instinct tell you? Test your gut feeling when it comes to data. For example, if you have a better conversion rate on a specific landing page design to others, test it, if you sell more products on a Sunday, test it in the data.
So as Jonah Berger suggests, psychology must drive the data analysis. What you don’t want to do is to be looking for relationships and trends in the data without having an understanding of your customer first. Three key steps to do this are:
- Understand your customer
- Understand behaviour insight
- Build a 360 marketing approach around this
So how would you do this? The answer is simple - through your customer personas.
Personas are essentially characters that represent various segments of your customer base. They contain a range of in-depth information from demographics and influencers to income.
Buyer personas allow you to identify whom your most valuable customers are by calculating the following metrics.
- Average purchase size
- Lift time value
- Acquisition costs
- Retention costs
- Customer happiness
- Value alignment
By carrying out this analysis you can identify demographic behaviour and trends, and match them to your personas. Ideally, you want to group your customers as a result of the above and prioritise them by value to your business. By doing this you can tailor your messages to that customer group.
Give your data a face. Connect your data to a human experience and create buyer personas that can help you develop targeted campaigns.
Interested in data-driven marketing? Have a look at our video resources to learn more.
This post originally appeared on LinkedIn.