Transform Your Business Into a High-Performance Machine with Data-Driven Marketing!

Imagine your company is a car. Your performance indicators — and the goals they support — are the big, beefy engine. But, the engine doesn’t run at its top performance without data, so you must get everyone in your organization on the same page. You need to share a clear vision of how data-driven marketing will enhance performance and make this sweet machine of yours hum. Let’s look at five ways your data-driven marketing can transform your business into a high-performance machine that blows away the competition.

1. Choose and Refine Goals and Key Performance Indicators (KPIs).
Your datasets are really only useful if they’re focused on your key metrics and the business goals they support — in other words, your engine. If you want to improve the power output of your car’s engine, you have to modify the ratio of air to fuel that’s going in, get it all to burn faster, and then dispose of the waste as efficiently as possible. The same is essentially true of your KPIs.

As you decide which goals you want to pursue, you can select the appropriate data you’ll need to support each goal. Then, use that data to move toward the completion of your goal and discard the stuff that doesn’t work. Manage intake. Use it effectively. Get rid of waste.

2. Use Your Data to Make Better Decisions More Quickly.
Decisions can make or break a business. Every day, thousands of decisions are made in your organization. Some are big, some are small — but all have impact. Put simply, data gives you the ability to make better decisions more quickly.

When you modify your car’s engine to improve its performance, you have to also make similar changes to the structure of the car — the transmission, the driveshaft, the powertrain — to support the added power. In your business, your ability to make decisions is the structure that provides you with the control you need to move your key metrics and achieve the goals they represent — and data enables this ability.

3. Create Real, Compelling Customer Experiences With Data-Driven Marketing.
Historically, the requirements necessary for actually pulling off customer-centric marketing were essentially nonexistent; but today, data-driven marketing can make the promise of customer experience a reality. Storage space and processing speeds were once serious roadblocks for all industries, but technology is doing more to empower customer experiences than simply clearing away legacy roadblocks.

Today, technology is answering questions that no one would have thought to ask several years ago. For example, more remarkable than the ability to store enough data is the ability to use that data selectively and with unheard-of precision. This precision is essential for creating the experiences your customers expect — because, at its heart, customer experience is about using the power and responsiveness of your organization to race more quickly and compellingly into the hearts of individual customers.

4. Focus Not Only on Tracking Spending, but Also ROI.
One of the crucial roles that data-driven marketing can play in your organization is to make sure you’re spending your money wisely. It’s vital to not only accurately track your spending, but also to actually earn a return on that spending.

When you’ve invested in building a serious muscle car, an important part of the equation is the control that comes from visibility. Data-driven marketing works like the clear windows and projected speedometers that improve visibility in a car. It allows you to make the most of your well-oiled business machine by helping you to see where you’re going now, decide where you want to go next, and understand your potential to get there quickly.

5. Trust Data-Driven Marketing to Be a Performance Boost!
It probably comes as a relief to many marketers that humans still have roles to play in the data game. But, automation and employees — data and people — are not independent of each other. They exist together in a mutual relationship, and if you’re doing data-driven marketing right; then data, automation, attribution, and every other technology or tactic should actually make those humans better.

Today, whole businesses thrive on nothing but dashboards to make data accessible to the lay worker. At the same time, analytics software is becoming increasingly more sophisticated in its ability to offer self-service and usable data.

This kind of universal interaction with data is at the heart of what makes data-driven marketing a performance boost for your business. If everyone in your organization is making intelligent, data-driven decisions, then you’ll get the most out of your machine.

If you’re looking to improve the performance of your business using data-driven marketing, you must keep your eyes open regarding what makes your engine run well. Data-driven marketing delivers real, tangible benefits. If you’re careful and thoughtful about how you implement it, it can measurably and demonstrably improve your business.

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from Digital Marketing Blog by Adobe https://blogs.adobe.com/digitalmarketing/analytics/transform-business-high-performance-machine-data-driven-marketing/