Turning Insights Into Action: The Importance of Data in Marketing

Apr, 2024 - by CMI

Turning Insights Into Action: The Importance of Data in Marketing

As a creative thinker, I pride myself on generating great ideas. I’m emotion-fuelled, inventive, and innovative. And, unlike a more analytical thinker, my brain tends to shy away from statistics. Data analytics? What a bore! 

But whether you’re a creative marketer or a data-led one, the truth is that the ability to analyse statistics and use them to inform your marketing processes is critical to the success of your campaigns. 

Still reluctant to test out data-driven marketing strategies? Let me persuade you of the reasons why you should. 

Learning About Data in Marketing: What’s the Connection?

If you want to learn about why data is important for marketing, it’s a no-brainer: study it. There are so many resources out there about data-driven marketing, as well as how gaining statistical insights can support your marketing campaigns in massive ways. 

For the most reliable information on the subject, though, consider completing a tertiary course - like an MBA, for example. But, what is an MBA? And why is this particular degree so relevant to marketing? Also known as a Master of Business Administration, this course is incredibly versatile. It can teach you a lot - about business management, organisational communication, and yes, even marketing. 

But most importantly, completing an MBA with marketing coursework can teach you how to combine creative marketing functions with data analytics. The best part? Being able to integrate these two very different elements of the marketing world makes you a wildcard: it’s something not every marketer is versatile enough to do. 

Creative Marketing and Data Analytics: Why These Opposites Go Hand in Hand

So, “Are you a data marketer or a creative marketer?”, they will ask. In truth, many marketing professionals are either one or the other. On the creative side of marketing - the fun side, in my opinion! - you’ll be well-versed in building relationships, drawing on emotions, and curating brand identities. Data marketers, on the other hand, are pros are analysing stats. And sure, this segregation is all fine and dandy - for the most part - but, can you do both? If you can, you’ll understand why being able to analyse data is not only helpful in supporting creative marketing goals, it’s essential. 

This is why:

Marketing data can provide major insights. About your customers, about how your campaigns are tracking in real-time, and also, about what’s achievable in the future. Analysing statistics is more than just crunching numbers, it’s about digging deep into what’s going on under the surface. Yes, data marketers may like to assert that creative marketing is all fluff - but if you have an understanding of marketing analytics as a creative marketer, you can turn that around. 

Here’s how to do it. 

How to Do it: Embracing Data Insights and Turning Them into Marketing Actionables

Ok, so you’ve been avoiding it: that dreaded step into the world of data. But, it’s time to bite the bullet. Here is how to enhance some of the most necessary creative marketing actionables by embracing data analytics:

Demographic Segmentation: Understand Your Customers Better

Yes, you have an idea of who your brand’s customers are. On an emotional level, that is. But can you drill down deeper? Analysing a brand’s consumer demographics by segmenting them into even narrower sections can give you a great deal more insight into your customers, and what drives them to engage with a brand.

Buyer Behaviour Statistics: Shaping Your Marketing Objectives 

Sure, you’re across the consumer buying cycle - you can recite the cycle’s stages with your eyes closed. But have you ever thought about how the numbers could help you understand consumer buying habits better?

Armed with these insights, your goals around what you’re trying to achieve with your campaigns will become even clearer. 

Predictive Analytics: Informing Future Marketing Campaigns Using Historical Data

Historical data. Why don’t we lean on it more when we’re trying to predict the future? We’re all humans, and yes, while we do evolve with the times, some things just don’t change. 

Of course, consumers are savvier these days. But as a marketer, you can still use data to make educated guesses about how people are going to react to your campaigns, based on how similar marketing efforts have been received in the past. 

The journey into data-driven marketing is essential, merging the art of creativity with the science of analysis. No matter if your strengths lie in dreaming up big ideas or in poring over numbers, leveraging data is key to making those ideas fruitful. By diving into the nuances of demographic segmentation, understanding buyer behavior through statistics, and forecasting future trends with predictive analytics, your creative spark can be guided by insights, making your campaigns not only innovative but also impactful. So, embracing data doesn’t mean sidelining your creative flair; it means enhancing it, allowing your marketing efforts to soar to new, well-informed heights.