The role of data in marketing decision-making — Caitlin Wiggins // Liquified Creative

Show Notes

• 01:57
  The importance of data driven decision making in marketing

  Data-driven decision-making is a crucial aspect of successful marketing strategies. Marketers must focus on making decisions that enhance value for brands and clients, drive conversions, and lead to revenue growth.
• 02:32
  Ways that marketers can drive revenue growth

  Through effective marketing and advertising, marketers can drive revenue growth by acquiring new clients and keeping existing customers engaged. This involves launching new services or products and getting new clients to engage with existing products or services.
• 03:38
  Understanding the human side of marketing with engagement

  Engagement encompasses anything from website visit duration after clicking on online ads to user interactions with the brand on social media. Engagement data enables more informed decision-making and helps you tailor and optimize what you're putting in front of people.
• 05:15
  Differentiating between vanity metrics and revenue

  Focus on metrics that provide more valuable insights and help optimize your marketing strategy. Look for engaged interactions in the buyer journey, such as adding items to the cart, as they offer more qualified feedback into user engagement and indicate deeper customer involvement.
• 07:08
  Leveraging analytics to drive effective marketing spend decisions

  Marketers must focus on leveraging analytics and examining performance across platforms. Rather than just tracking ROI, the emphasis should be on identifying signals related to human behaviors to gain valuable insights from the data collected from various sources.
• 08:06
  Understanding delivery metrics

  Delivery metrics refer to how an ad reached its target audience and the engagement it received. These metrics encompass KPIs like impressions and time spent on the page, providing valuable insights into the ad's performance and audience interaction during delivery.
• 09:06
  Leveraging delivery metrics for informed marketing spend

  Understanding and justifying delivery metrics by analyzing performance, conversions, and considering the media mix is vital for increasing marketing spend. Demonstrating the story behind the data can help justify budget allocation to decision-makers.
• 11:57
  Simplifying marketing attribution models

  Marketing attribution models provide a framework for analyzing marketing channels that deserve credit for conversions and help determine where to allocate more budget. They assist marketers in defining effective strategies for driving both short-term and long-term conversions.
• 13:23 First click vs last click attribution
  First-click attribution assigns 100% of the conversion credit to the first marketing channel a user engages with. On the other hand, last-click attribution gives credit to the last-touch engagement action that a user had with your campaign.
• 14:22
  Navigating attribution modeling with time decay analysis

  Attribution modeling becomes complex due to the multitude of touchpoints available to users. However, utilizing a time decay model, marketers can assess how earned media engagements influence subsequent interactions, potentially affecting paid advertising engagement.
• 16:13 No click attribution
  Though we can't trace individual users in TV advertising, we can obtain user information through things like CTV today. Even without click modeling, observing trends, such as increased website traffic during commercial airings, helps gauge awareness and heighten brand awareness
• 18:12
  Attributing TV ad impact

  Without precise user tracking, assuming that a significant spike in engagement within a specific time frame after a TV ad broadcast is attributed to the ad's impact is a reasonable approach. Making such assumptions helps gauge the effectiveness of TV advertising in driving interest and traffic.
• 19:15
  Leveraging event based marketing for earned media opportunities

  Liquified Creative engages in a good amount of trade show or event-based marketing. This offers various earned media opportunities, particularly in the thought leadership category.
• 20:28
  Overcoming the challenge of limited data from conferences and events

  Liquified Creative is able to collect a large amount of data before and during the conference period through a variety of methods. Methods include setting up event-dedicated landing pages, owned media on social media, encouraging attendees to interact with each other, etc.
• 23:38
  Leveraging landing pages and downloadable content to capture attendee data

  Having a landing page specific to each event has proven to be effective, especially when offering valuable downloadable content in exchange for attendee email addresses. Those email addresses can then be used for targeted ads and email marketing.
• 24:39
  Empowering data driven marketing through valuable solutions

  To drive data-driven decision-making in marketing, address your potential client's challenges authentically and offer valuable solutions. By providing value, you can build trust and encourage them to share their data or even do business with you.
• 25:11
  Leveraging AI and analytics platforms for data storytelling

  Data storytelling is key to optimizing resource allocation and refining marketing strategies. Investing in robust analytics platforms and AI empowers marketers to draw valuable conclusions for better decision-making and improve their overall marketing performance.
• 26:30 Data driven platforms for marketing automation
  MailChimp is valuable for email marketing and offers multiple integrations, provides a comprehensive view of data, and helps with marketing automation. Monster Insights, a GA alternative, automatically draws conclusions from data and offers optimization suggestions.