Okay, okay, here we are!
The new year is in full effect and it’s almost as if we forgot that just a few weeks ago we were closing out 2022. Yep, that’s just how fast time moves.
Now, I know a lot of marketers, brands and businesses are already in full force in the 2nd, 3rd and even 4th quarter of their yearly marketing planning and execution. BUT we can never be too early or late when crunching some data.
Hear me out,
While we may be looking for the next shiny object that will help us make 2023 a success.
I may have something better to offer..your DATA…yep that big bright tool right here in your back pocket.
Here are 3 steps to use your data for success in your 2023 marketing campaigns.
Tip #1 - Gather your data and highlight what worked and what didn’t work
Before looking at the bright future ahead of us and activating a tone of marketing campaigns for product launches, service launches and all of the above.
Take a moment with your team to dissect the data from 2022.
What worked? What didn’t? Use these two questions and apply them to the basic principles of marketing.
Product:
What were your top sellers (products and/or services)
What had the greatest weight of business in your product assortment
What category drove the most revenue AND what category drove the most visit and engagement to your channels
Promotion:
What campaigns drove the most engagement to your brand?
(What channel, what messaging, which tactics)
What promotions did you run that drove a lift in sales
Which ads generate the highest ROI for you
Price:
What is the price range of your product or services that moved the needle
What is the discount on your product or services that drove a higher lift in sales or engagement
Positioning
What are the key channels your customers engage with the most?
What seems to be the pain points for my customers in my distribution, in other words; where do I see a drop in engagement or an abandoned cart, purchase?
(ex: At check-out when calculating shipping cost)
Tip #2 - Understand your customer's purchase behaviour towards your brands
WHO are your customers, your potential customers? What are the digital tribes of your brand and how do they interact with your business?
First, what is a digital tribe? In this context, a digital tribe is a group of users and consumers that share similar interests, consumer behaviours and purchase behaviours. Of course, every customer is unique in its way, but surprisingly enough if you bucket your customers into a segment you can easily notice similarities in their digital behaviours.. Yep we are just one big family.
Okay now back to customer data.
So here are the layers of segmentation I suggest when it comes to grouping your customers.
(Now I am putting some buckets into bigger buckets to give you a high-level idea)
Demographics
Gender
Age
Location
Preferred Language
Behavioural
Life stage
Website Activity
Device Type
Interests
Value-based
Number of purchases (Total, repeat purchase)
Average order value
Product category purchases
This is high level but would still provide an immense amount of insights
(This is a Coffee Read, not a dinner read… :) )
Tip #3 - Bring it all together and create a plan
Okay now that you gathered the data from your marketing and your customers, you are ready to get going! (Little hand stretch…and let’s go).
Here are a few questions you can ask yourself to help you create conclusive actions.
1. What are the key highlights coming up in your data?
For example, is one product category outperforming the rest of your categories?
Did one promotion drive a higher amount of purchases to your website, you can also compare when you did 20% off, vs. a 30% off
What were the results of high-paying campaigns?...and was it worth it?
2. Plan for your segments! Create a personalized customer experience
Now that you created digital tribes, let’s test creating personalized experience for some high-performing audiences
Test some personalize your newsletters to these segments
Create product or service recommendations based on these segments (hiiii, to cross-selling products and services)
Create communication plans tailored to each segment
Design digital experiences based on their behavioursÃ
3. Bring that good stuff into 2023.
Now that you have all the tools, it’s time to whip up the magic!
Remember the best way to plan for 2023 is to use your data. You’d be surprised how history repeats itself, and may even be surprised by how data can help you tackle blind spots (ahem hmmm sleeping money).
A little note before I leave you for your last sip of coffee.
IT’S OKAY that you don’t have all the resources to do some data power session with your team and put it all together.
This is exactly why I am here.
To help you crunch your data, provide you with insights and recommendations that will help your business create revenues WHILE creating meaningful personalized experiences for your customers.
All it takes is one message! Vanessa Joynathsing, Lead in marketing & Digital brand experiences
Vanessa@vsservicesconseils.com