For some reason, it’s still not widespread common knowledge in the marketing industry – but the data you collect from customers and analyses that you can conduct accordingly reveal the objectives and set of principles you need to define before building your marketing plan.
Some think marketing plans and campaign ideas come from some magical creativity. It’s not true. These processes should start from data and insight.
Getting your hands on the right data can help define your set of principles, which contributes to your marketing plan’s success. That’s the proper order of things nowadays.
Today, we will provide you with examples of how it works for the Registered Only customer lifecycle.
For your convenience – you can either watch the video or read the transcript below it.
Though some objectives are more obvious – like your desire to increase conversion rates/brand awareness/customer reach – others may be derived from what you see in your data.
For example, when analyzing an Optimove client’s data, we found that less than 10% of Registered Only customers were targeted with a monthly campaign.
This leads us to the principles.
Principles
Three principles were derived from the Optimove client’s data in the example above.
The first suggestion is to invest more resources in the first week when the chances to convert are much higher.
The second suggestion is to target customers 3-4 days after the previous campaign – when most customers are more likely to make a purchase and/or have browsing activity.
The third suggestion is to use web activity data to customize campaigns, increase personalization, and target customers better.
**A couple of Optimove’s best practices to keep in mind: use various templates to increase engagement and build brand awareness earlier on in the customer journey.
Gathering Data, the Optimove Way
Through a real-life example of an Optimove client, we defined their marketing plan’s principles based on a couple of analyses we conducted.
One of them included breaking down customers by the Time Between Registration and First Purchase. The data found that 51% of customers converted on the same day as registration, and another 18% converted within one week of registration.
With these distributions, we found that 69% of customers convert in the first week. Therefore, the suggestion is to invest more resources in the first week of the customer journey, when the chances to convert are much higher.
That’s a simple example of how you let the data lead you – before you come up with the great creative, of course 🙂
Anjili Gohil is a senior consultant on the Strategic services team and very passionate about data. She works with CRM executives in multiple industries helping them optimize their CRM strategy through data-driven insights, statistical models, marketing frameworks and industry best practices. Anjili holds a BSc in Mathematics.
