With the marketing world turning digital, data has become a valuable resource of business growth and expansion. In fact, well conducted data collection holds absolutely everything a business needs to incorporate in order to advance strategically and successfully. Thus, knowing how to go about this practice is a well pursued educational understanding. In this article, we will cover what exactly is data collection, how to apply this tool, and all the ways in which you may benefit from it.
What is data collection and why is it important?
In marketing, data collection is an administrative method of strategic information gathering and analysis, with a means to achieve a better understanding of markets, industries, customer engagement, relevance of content and ongoing public perceptions.
This tool is absolutely important because it enables companies to create evolving adjustments on any publicly available products or campaigns, carefully designing with precision to best suit the audience’s needs and interests.
Though this may seem like an exclusively high ranking activity, some form of data collection practice is common in most companies, as it contributes with efficacy and value to any kind of industry.
How is data collection present in marketing?
There are countless examples of ongoing data collection. The very act of simply scrolling on a company’s website may already provide some form of conclusive information. Here are a few common examples:
- Social media engagement
- Interactions with digital ads
- Customers requesting for help in specific areas
- Navigational data (how far the viewer is scrolling, where the viewer is clicking, how long the user stays on a particular page…)
- Email marketing tracking (open rates, replies)
- Feedback collection such as surveys, quizzes and polls
Each method of analysis will contribute differently to the business, so it is important to monitor everything with attention to detail and discernment.
Here is what you will find out:
- How effectively your content is performing
- How captivating your brand presentation is
- What channels your consumers are on
- Their preferences of products or services
- Their ways of interacting with the available information
How does data collection affect a business?
Properly evaluating customer behavior is the key to successful product availability. Not only will you get useful insights into what your customers have been up to, you will also discover their personal opinions on your brand’s services.
From there, a closer relationship with the customer can be developed and usefully integrated into tools such as CRM systems, allowing for the generation of customised records and aiding in the provision of more appropriate sales to each addressed individual.
This knowledge is the gateway to an accurate buyer’s persona formulation, demonstrating a clear behavioral average and measure of expectations.
Conclusively, a well conducted data collection strategy can lead to incredibly significant results within your company. With the presence of such a vastly competitive online market, its use is practically vital for business survival. Benefits of its application include cost savings, optimized marketing campaigns, and improved customer experience.
What to Pay Attention to when Collecting Data
To successfully make use of this marketing tool, a bit of planning ahead is necessary. Naturally, polls, quizzes and surveys must be created in accordance to the currently available catalog. In addition, achieving accuracy and relevance demands consistency, meaning you should check your data collection tools on a daily basis.
Upon completion of collection comes the next transformative step: data analysis. This allows for the formulation of behavioral conclusions and the conduction of optimizational plans.
Without analysis there is no significance to the collected numbers, so make sure to dedicate some time to this process. When well analysed, the data should convey a clear direction into which areas of your marketing need refinement.
Data Collection Tools
There are numerous online tools engineered specifically for this purpose. Here are a few ideas you may get started with:
→ Create questionnaires for your audience adopting a Net Promoter Score (NPS) strategy and get insights on your customers’ loyalty.
→ Create feedback forms for direct open-communication of your customer’s opinions.
→ Create forms to discover customer satisfaction with a particular product.
→ Create forms to evaluate the users’ website experience.
→ Create forms to know your audience’s expectations of future brand, service, and product development.
- Google Analytics
On a global scale, Google Analytics is by far the most widely utilized data collection platform. It is available for free and performs in a practical and user friendly way.
You may link it with automation softwares, websites and social media pages, carefully viewing your dashboard in diverse ways of organizational possibilities. Simply customize your configuration to your marketing’s needs. What information matters the most to you at the moment? Set up your metrics on Google Analytics.
This is another effective tool in the realms of data collection. Though carrying a more advanced approach, Upminer compiles strategic information at an incredibly large scale.
Data can be accepted into the software without the need for a structure. This is then organized into graphs and reports for final interpretation, making it an effective tool of data collection in your marketing campaigns.
In this article we have covered the definition of data collection, why it is important within overall business development, and how you can get started with this game changing concept.
If you are interested in becoming a pro at marketing, make sure to check out our previous articles. Last week we covered ‘’Evergreen Content: How To Make It Last.’’
See you next time!
by Julia Arguello Busch