How to improve your marketing team’s data literacy
Note: This article originally appeared on the Stratosphere Networks website as part of the company’s CMO Insights blog series.
It’s definitely possible to have too much of a good thing. Many professionals these days find themselves in that situation with data. The total amount of data created, captured, copied and consumed worldwide hit 149 zettabytes this year, according to Statista. That figure is expected to exceed a staggering 394 zettabytes by 2028.
More isn’t necessarily better when it comes to data. You can gather mountains of information and have nothing to show for it if you don’t understand how to interpret it and utilize it to achieve your goals. ???
f you’re data savvy, however, the information you gather can supercharge your marketing efforts and help you reach the right people. Here’s what you need to know about why data literacy in marketing matters and how to sharpen your team’s ability to stand out and reach the right people with the power of data gathering and analysis.
Why data literacy matters for marketers
Every organization should strive for a high level of data literacy to accelerate decision-making, identify new ways to increase revenue, and make more efficient use of resources, according to Gartner. For marketing departments, in particular, a data-driven approach can transform your ability to efficiently reach your target audience.
The advantages of adopting a data-centric marketing strategy and capturing and scrutinizing information about your customers and the effectiveness of your campaigns include the following, according to Semrush.
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How to improve data literacy in marketing
When faced with the vast volume of data available today, it’s easy to feel overwhelmed and unsure where to start. To build a data-literate culture in your marketing department and organization at large, start simple, as Geoffrey Colon, co-founder and chief strategy officer of Feelr Media, advised earlier this year during a virtual event hosted by the American Marketing Association (AMA).
“What we have a tendency of losing in the field of marketing is we don’t want to tie our shoes,” Colon said. “We don’t want to do the basics.” In his keynote session, titled “The Magnificent Seven: The 7 Marketing Analytics to Help Build a Data-Literate Business Culture,” he recommended considering how to “play it simple” and avoid simply collecting data for the sake of possessing it. Instead, all the information you amass should serve your business in a specific way.
As for building a data-literate culture, he explained that “the journey depends on your organization’s specific context.” Here are some questions he advised asking yourself to improve your team’s data utilization:
Answering these questions will lay the foundation for a more deliberate approach to collecting and assessing data. ?
If you want to evaluate data-gathering solutions for your marketing team, our technology advisors would be happy to help. After evaluating your current business processes, we can identify tools to gather client data and support better customer experiences:
Take the first step toward achieving optimal data literacy in marketing today by calling 877-599-3999 or emailing [email protected]. Lori Leonardo is the chief marketing officer (CMO) of Stratosphere Networks, which helps businesses bypass the traditional sales process and quickly find leading Unified Communications as a Service (UCaaS), Contact Center as a Service (CCaaS), customer experience (CX), digital transformation, business process outsourcing (BPO), managed IT and cybersecurity solutions. Leveraging advanced tools and in-depth knowledge of the technology landscape, our team identifies products and services that position our clients for lasting success. Visit www.stratospherenetworks.com for more information.