Founder and CEO of marketing consulting firm, Centrally Human LLC, gives us her 5 tips that will help you make your business more data-driven.
Not all data is created equal
Your data depends on your business and goals. It’s important to have a professional run a data asset audit, so you know what you have and need.
Your customer data is your most valuable asset. When purchasing third-party data like emails, it’s important to know where it came from (the “truth” file). Online behavior data, like ad impressions or clicks, are great to gauge interest and activity but difficult to tie to people.
Don’t hoard data
Data can be messy, duplicative, time-sensitive or irrelevant. Identify your goal and what information you need, then architect a strategy to capture that data.
- Storage: Data takes up space. Where will you store it, how much does it cost, how will you access it and how often?
- Usage: It is hard to glean insights from the right data if half of it is irrelevant. If you don’t fill your closet with clothes you don’t wear, why would you fill your database with data you don’t use.
Privacy and security are paramount
With data comes risk and ethical and legal responsibilities. It’s critical to have a transparent, comprehensive and relevant data policy for your brand.
- Security: Are you storing and protecting the data according to best business practices and laws? Are you limiting access and leveraging a trusted storage provider?
- Privacy: Are you using the data in a way that complies with privacy laws and ethics? Are your customers (or potential customers) aware when and how you are collecting data?
- Ethics: Is the data you are collecting relevant to your business? Does it help your analytics or better serve your customer? Customer trust is not easily regained once broken.
Do the easy things first
It’s easy to get overwhelmed or over-ambitious when it comes to using data for business. Start out simple with one project. You might run an audit of the data you use and how it’s helpful or unhelpful, or you can conduct an analysis of an under-utilized data source (like Twitter) to find new insights.
The key is to achieve little victories that grow team confidence, earn executive support, and provide real momentum.
Ask for help from the right people
Data-driving marketing is complex. Find an expert that fits your business and needs. Whether you hire a dedicated expert or contract a consultant – it is important to do your due diligence to ensure you’re set up for success.
Kim Brown, Founder & CEO of Centrally Human LLC, a marketing consulting firm that helps companies create better customer connections through integrated strategies using data, marketing and technology. Data is a key ingredient for success, and here she shares her top 5 tips for being data-driven business.