In the previous blog, we discussed ‘Building a data-driven strategy for your company’. Now we’re going to move to the second discussion panel of MarketingFest Series #2: Data & Insights.
The topic of this discussion is “Utilizing innovative analytic tools to create a highly targeted marketing campaign.” To build a successful marketing campaign, businesses can use several digital tools to collect and analyze data efficiently.
So, what are the most effective techniques for achieving our business objectives? Let us see what this panel discussion has to reveal.
Key points from this panel discussion:
1. Do AB Testing based on Data
The first step to a successful AB Testing campaign is to examine the data to discover how people engage with your website. You can do this simply by checking the data in Google Analytics.
With the information you get from analytics tools such as Google Analytics, you can make certain informed adjustments to your website based on the data.
Here’s an example from one of our panelists: you can see from the statistics that fewer people are clicking on the ‘Purchase Now’ button.
The clicking rate, however, increases when the button color is changed from blue to red. Conduct continuous AB testing based on the data and watch the results; eventually, you will discover the solutions that will provide you with the results you desire.
2. Know the intent of collecting data
Why do you need the data you’re collecting?
The buzzwords ‘data and insights’ may be frightening at times. Nonetheless, data is not difficult to understand; we should drop the term and return to the basics.
We must first define the purpose of data collection by asking ourselves what data we require to make whatever choice we desire. After that, we’ll need to identify the sources we’re getting our data from so we can put it all together and come to a definite conclusion.
3. Learn using data
In today’s business world, knowing how to collect and use data is crucial to the success of any business. We don’t have to join special classes that need us to pay a fee to have a better understanding of how to use data.
The Internet is full of free information covering several subjects.
By searching Google and researching on our own, we can learn from the Internet. The most essential thing is to put what you’ve learnt into practice. The more we use it in our daily lives, the better we will become.
When it comes to data, it’s also important to know what your business is all about. There’s no point in seeking to collect data that won’t be beneficial to your business.
Instead of following the crowd or looking at what others are doing, get to know your business and focus on what matters to you. Concentrate on gathering the data you’ll need to achieve your business goal.
5. Act Now
We should all start collecting data right now with paid or free analytics tools; there is no need to wait. We must treat data as if it were a human body check-up, examining it regularly to determine the potential degree of your company’s growth.
If you start collecting and analyzing the data you have now, you can determine where there’s a challenge in your business.
More importantly, you’ll be able to come up with an informed solution to the challenge. Also, you can know the chances you have to grow your business more effectively.
Now is the best time to be data-driven, because it is critical to the success of your business. However, before becoming a data-driven business, you must first understand your business and the data you require to make any business decisions.
Knowing what you want to achieve is an excellent place to start when collecting data.
We are pleased to have invited Sunny Ooi, Founder and CEO of ClickAsia Sdn Bhd to be the moderator in this session to lead the discussion with the panelists Carroll Kee, General Manager of SEA, Similarweb; Ashran Dato Ghazi, CEO, dattel.asia and Kelvin Prawtama, Business Intelligence, Shipper.
They shared their valuable knowledge and insights on the topic of this session.
Learn more about data and insights by watching the complete video of this panel discussion.