How using the right data can save time and money
Today, data is one of the most crucial points for the success of any business. But be careful because improper use of data to get the most out of marketing efforts can end up hurting the brand by wasting time and money.
So if you are wondering how to prevent this from happening, we will look at how to get meaningful data to create more compelling content.
- By 2024, data will produce 149 zettabytes.
- About 90% of the data present to date is of low quality or not functional.
- 52% of companies use predictive analytics.
Why does a marketing campaign fail?
Every day, 2.5 quintillion pieces of data are generated and produced in many ways. Humans have developed 90% of the data in the last ten years. Moreover, by 2024, data consumption is estimated to reach 149 zettabytes.
They are considered the “oil” of the 21st century, so companies are racing to accumulate as much data as possible. However, having an entire database is not synonymous with having valuable data for one’s purposes.
Data that help make purposeful decisions. Companies need data that they can trust and that serve their purpose. Data that guides the brand toward a better marketing strategy will define what content is most effective, what ads to create, and how to present them.
From a strategic point of view, having much data, especially if it is not accurate, is counterproductive. The marketing department would spend too much time cleaning up and filtering data that can change the outcome of a single marketing campaign.
On the other hand, having accurate and reliable data allows the company to understand which campaigns will perform better and how much investment, on the other hand, needs to be made to improve each piece of content.
Therefore, understanding which data to trust will make the company avoid, for the company, wasting time and budget on something that is not effective.
Getting the right data can provide clear direction to your marketing investments
According to a study conducted by Harvard Business Review, about 90 percent of the data captured is of low quality and therefore not usable by companies.
What is meant by “right data”?
The right data are those that help the company understand, well, its audience. So we are talking about data that is useful for understanding the user’s attentional and engagement levels in their campaigns; precisely to predict their future behavior.
Suppose one does not know one’s target audience, the most suitable platform to promote the campaign, and most importantly, the most appropriate content for the audience. How can the company make effective decisions? The answer lies in analyzing the performance of future campaigns through predictive analysis of the most critical metrics, such as attention and emotion.
How can accurate data be captured?
Predictive analytics allows companies to guess precisely how effective their marketing campaigns will be and how to get the most out of them. 52% of companies use predictive analytics for their business, demonstrating the importance of predictive analysis.
With appropriate tools, marketers can gather useful metrics to optimize all aspects of content and its performance; especially when considering their audience’s attentional and emotional levels.
That allows the company to deeply understand the user’s buying behavior, thus improving the ROI of individual advertising campaigns.
Moreover, using these two metrics has a clear advantage. It lets companies deeply understand what content attracts the target audience’s attention and makes them look at the range longer.
Complex data can save a company time and budget
Companies are under pressure from increasing competition and shrinking profit margins. They need to produce more with less, and they need to do it fast.
The benefit is clear. The ability to see what content is performing best will help marketers get closer to their audiences and make empathetic connections that are useful in building greater trust.
That’s why we created a white paper that explores in detail the concept of attention and emotion and how these factors can contribute to the success of a marketing campaign.