Data Strategy: Moving Beyond Metrics to Drive Intelligent Marketing

Arlene Wszalek, EVP, Strategy & Innovation , 05.23.24

05.23.24 Arlene Wszalek, EVP, Strategy & Innovation

In our data-driven marketing landscape, it's no longer enough to simply collect and analyze data. To truly unlock its power, we must move beyond the "what" and focus on the "so what?" and, critically, on the "now what?".

The "What": Understanding Data

Our first step in any data strategy is to ingest and analyze data from available sources. This could include website, social media, email, experiential activations, industry resources, 1P client data, and more. Once we have the data, we interrogate it against benchmarks, client-agreed KPIs, our observations of market behavior and domain experience across industry verticals. This lets us evaluate the current state and potential of the data we have at hand.

But that doesn't go far enough.

The "So What?": Interpreting Data

Once we have a clear understanding of the data, the next step is to interpret it. This involves identifying trends, patterns, and correlations. It also involves understanding key business drivers, industry dynamics, and competitive landscapes. By uncovering insights from data analysis, we gain a deeper understanding of the factors most likely to impact our client's success.

  • For a Live Entertainment client, we used our Foresight suite of media mix and projection tools to model sales data by market versus paid media results in those markets. As a result, we identified opportunities to optimize the media mix by region, resulting in a 12% increase in sales.
  • For a major Destination Marketing Organization (DMO) client, we analyzed a combination of leisure and business travel trends, consumer behavior data, projected media inflation, and other factors. The insights we developed informed paid media strategies for the fiscal year ahead.

The "Now What?": Activating Data Insights

The final step in our data strategy is to activate the insights we've uncovered. This can involve developing personalized marketing campaigns, optimizing content and messaging, or improving customer experiences. By taking action on our data insights, we can drive and improve business outcomes.

  • A major streaming service engaged us to define and identify what constitutes a multicultural audience in 11 countries around the world. After ingesting and analyzing reams of data, we identified 25 distinct audiences who influence popular culture and entertainment trends in those countries, ranging from LGBTQ+ to Indigenous Australians to the Satori Generation. Considering these nuanced minority audiences let the streamer leverage their increasing influence on pop culture across the marketing ecosphere.

Benefits of a Data-Driven Approach

We use data to inform every aspect of marketing, from strategy development through campaign execution. The many benefits we see include:

  • Increased ROI and campaign effectiveness
  • Improved customer engagement and loyalty
  • Competitive advantage and market differentiation

If you think your data could be working harder for you, here's your "Now What": Get in touch!

Find out what we can do for you