EP9: How To Make Data-Driven Marketing Decisions

So, you are putting time, money, and effort into marketing your business. But the question is, are you actually looking at the data to see the results from those efforts? Welcome to The Visibility Boost. Today we are going to talk about how to make data-driven marketing decisions.

Whatever you were doing marketing wise, you are most definitely putting time, money, energy into it. It may be your time and energy. You may be paying money to an outside contractor. It really doesn't matter what you are doing.

All of those efforts are costing time, money, and energy. While you were putting all of that effort into it, are you actually then looking at the results and how often are you looking at the results? If you start a new marketing strategy, my recommendation is you start looking at the data every month in order to make data-driven marketing decisions.

Now, if this is for an imminent launch, that is in the next couple of weeks, you may want to be looking at it on more of a weekly or daily basis. But for most of us, this is a long-term effort, so monthly is fine. But you have actually to go into Google analytics and look at the data.

Are you improving? is your website getting more sessions, more new users? Are the people that are coming to your site spending more time and are they engaging? Are they actually purchasing from your site? Those are the things you want to look at.

You are working on your social media strategy and maybe you are spending your effort and your time on a couple of social platforms, but you're paying somebody else to manage another. Every month or two months, you need to look and see. Is this going well? Am I getting the results that I should be getting or expecting to get, think I should get, or even? Are the results just not adding up to what you're spending?

Maybe you're spending $600 a month. And you're not getting a lot of visibility because you're not getting any new users. Maybe you're not getting any purchases from that. Maybe you've only had $10 bought on a small product, but you've paid $600 that month. You're really not getting the return on investment. So you have to stop and think, do I want to continue to spend that? Or where could that $600 help?

Maybe you've been spending a lot of time on Facebook and it's going well. But you don't have the time to continue it. Maybe you take that $600 from the other social media platform and put it towards Facebook. Maybe some ads, maybe some boosted posts, whatever it is that you're already doing, that's working.

How can you reallocate your dollars? And that's really what we're talking about here with this marketing. You have to be able to look at the data and see what is working, what's not working. What can you maybe cut out? Maybe you've been trying Tik Tok and it's just not working for you. It's draining you. So maybe you stop working on it, and you focus on Instagram. Or maybe Tik Tokk is working for you and Facebook isn't. It's that looking at the data, seeing what's working, and then making those decisions about where you're going to spend your time or somebody else's time, effort, and money.

And if you only have a limited budget, maybe your marketing budget is $500 a month and that's all you can spend. You may be better off going all in on what's actually bringing you in the most revenue or the most new users, the most engaged sessions as opposed to splitting it out a little bit over every social platform when only one of them is actually bringing you in the results. But again, if you don't look at your data on a regular basis and really look at it with an open perspective and say, okay, this just isn't really working.

You may love the contractor you've hired. The platform may be your favorite for yourself, but just because it's not working for you doesn't mean there's anything wrong. You just have to take a step back and say, maybe we stop this for right now. Maybe we say, okay, this is not working. Where is the best use of that money? What is working right now? Can we put more money behind that? And then maybe you go back to the other platform at a later date. Maybe something new comes out. You won't know what's working unless you're actually looking at the data.

And that goes back to the importance of having conversions setup. If you don't know what is actually bringing your contact forms, your purchases, or your freebie downloads, you won't actually be able to make those data-driven marketing decisions in the first place.