Marketing efforts should never be a blind-driven, shot in the dark process with cross your fingers and wish upon-a-star results. Aimless marketing has cost hundreds of thousands of wasted dollars on campaigns directed at the wrong demographics and money thrown away on strategies doomed to fail. Yet far too many businesses put their marketing money in the hands of companies promising results but showing little to no improvement in profits or market share.
Zero in on Page Rank and Click Through Rates
When it comes to marketing these days, a lot of value is placed on page rank and click through rates. But sales are what keep you in business, and to make that leap from looky loos to actual payments and bank deposits, you need marketing data. Then you need to know how to use that data to drive informed marketing decision making. Data driven marketing is behind most successful companies.
The collection of, dissemination of and use of that marketing data can make the difference between a company that’s just hobbling along four wooden wagon wheels, and one that’s consistently meeting all their sales goals ahead of time.
QVC Doing it Right
As an example, consider QVC, the home shopping network. They use marketing data almost exclusively to influence, not only what products they’ll show on a daily or hourly basis, but how the hosts should turn the product, hold the product, and what words they use to describe the product.
Changes and small tweaks are made on a minute-by-minute basis, transmitted via earpiece to hosts that are live on air. That kind of attention to marketing data has kept QVC as the frontrunner compared to HSN, their main competitor, and every other home shopping network that ever existed.