Intro [00:00:11]:
You’re listening to The Revenue Engine with Michael Pacheco, a veteran CMO who has driven over $10,000,000,000 in revenue in the past decade with strategic marketing and customer centric leadership. Join your host as he transforms marketing departments from cost centers into profit centers. Prepare to shift your marketing into high gear and drive unprecedented growth.
Michael Pacheco [00:00:36]:
Have you ever wondered how some businesses make consistently great marketing decisions? The secret often lies in data. Let’s explore how data driven marketing can transform your business and drive growth. Hi. I’m Michael Pacheco, a fractional CMO for health and health adjacent technology companies. Today, I wanna guide you through the concept of data driven marketing and how can enhance your decision making process. Data driven marketing involves using data analytics to inform and optimize your marketing strategies. By leveraging data from various sources, you can gain valuable insights into your audience, improve campaign performance, and just overall generally achieve better results. Let’s discuss the benefits of incorporating data driven marketing specifically in your marketing strategy.
Michael Pacheco [00:01:22]:
I’ve got 5 items here. Number 1 is gonna be improved targeting. So data will help you understand your audience’s demographics, behaviors, and preferences, and it allows you to create more targeted and personalized campaigns. Number 2 is enhanced decision making. Data driven insights enables you to make informed decisions, reducing guesswork, and increasing the effectiveness of your marketing campaigns. Right? Pretty straightforward there. Number 3 is gonna be increased ROI by optimizing your campaigns based on data, not instincts or gut feelings or whatever. Based on data, you can allocate resources more efficiently leading to higher returns on your marketing investments.
Michael Pacheco [00:02:04]:
Number 4 is gonna be better customer insights. Looking at those data analytics, and they can really provide a deeper understanding of your customer journeys and their interactions with your business, your brand. Helping helps you to enhance the overall customer experience. Number 5 is gonna be performance measurement. With data, you can track and measure the performance of your campaigns in real time allowing for continuous improvement and adjustment. Now let’s explore some different tools and techniques that can help you implement data driven marketing more effectively. Number 1 is gonna be CRM systems. CRM, of course, stands for customer relationship management.
Michael Pacheco [00:02:43]:
That’s things like Salesforce, Zoho, Pipedrive, HubSpot has a fantastic CRM, and they help you what they have those help you do is to track customer interactions, not only for marketing, but also for sales. And that helps reduce, the silos that are often found in companies between sales teams and marketing teams. There’s more communication there, and where there’s communication, in my experience, where there is communication between sales and marketing teams, there is more money because one has data that is valuable to the other. And number 2 is gonna be data management platforms. Data management platforms like Adobe Audience Manager, for example, will allow you to collect and manage large volumes of data from various sources, creating detailed customer profiles that can be used for more targeted marketing. Number 3 is gonna be predictive analytics. Tools like IBM Watson and RapidMiner use machine learning and AI to predict future trends and customer behaviors based on past data. That’s really fantastic.
Michael Pacheco [00:03:50]:
That obviously helps you make proactive marketing decisions so you’re not making reactive ones. Right? Number 4 is gonna be heat mapping tools. This is gonna be tools like hot jar, crazy egg. Both of those provide visual representations of how users interact with your website. And that obviously allows you to optimize your site layout, optimize your site content for better engagement, and if you’re selling anything online, more sales. Right? Or whatever action you want people to take on your website, whether it’s ecommerce, whether you’re selling something on the website, or whether it’s booking a call, whatever it is. Whatever action is you want them to take, you can optimize for that. Number 5 is social listening tools.
Michael Pacheco [00:04:29]:
Platforms like Brandwatch and Sprout Social allow you to monitor online conversations about your brand, your competitors, your industry, and all of that kind of comes together, provides valuable insights for your marketing strategy. Right? The know the more you know about your own brand, about your competitors, about your industry, the better decisions that you can make for your marketing. Let’s look at some case studies. I’ve got 3 of those here. One of them is Netflix. Netflix uses data analytics to recommend content to its users. We’ve all probably had a Netflix account at some point if you don’t have an active one now, and you’ve seen content that’s been recommended to you based on again, this is the kind of that predictive analytics. You’ve seen recommended content based on your viewing your watch history, but at the data driven approach to marketing new shows to Netflix users.
Michael Pacheco [00:05:20]:
Number 2 is Amazon. Amazon leverages data to personalize product recommendations. The same thing as Netflix, predictive analytics, offering showing you new products based on your purchase history. Right? It will optimize pricing. Amazon will also optimize pricing. It’ll streamline logistics based on your location, based on your purse purchase history, based on your return history. Amazon automates all of that with their data strategy. Number 3 is gonna be Starbucks.
Michael Pacheco [00:05:50]:
Starbucks uses data analytics to optimize its store locations to personalize marketing messages and also to enhance the customer experience, which really part of personalizing marketing messages is enhancing the customer experience. But enhancing the customer experience goes beyond just the marketing. Right? It goes from marketing to sales to gathering, keeping a customer, repeat sales, repeat customers, that kind of thing. It leads to, obviously, increased customer loyalty and more sales.
Midroll [00:06:20]:
Are you dreaming of digital domination? Wake up to Boxer, your dream team for web services, marketing logistics, SEO, and content. We don’t just help you play the online game. We help you change it. If you’re ready to rewrite the rules of your industry’s digital landscape, visit Boxer dot agency today, and let’s get started.
Michael Pacheco [00:06:44]:
In conclusion, data driven marketing can transform your business by improving targeting, enhancing decision making, increasing ROI, providing better customer insights, and allowing for performance measurement. By leveraging data and the right tools, you can optimize your marketing strategies and achieve better results. So here’s what I want you to do. I want you to reflect on your current marketing approach. Question number 1, are you effectively using data to inform your decisions? Question number 2, what tools and techniques can you use to integrate with or enhance your data driven efforts? If you’re doing any data driven efforts right now, what can you add to it? If you’re not doing anything data driven? What tools and techniques can you use to get started there? Question number 3, how can you optimize your current campaigns based on insights from data? So considering these questions can really help you identify areas for improvement and kind of get a foot in the door and begin incorporating data analytics into your marketing strategies. So if you’re struggling with doing any of this, if you’re struggling to incorporate data analytics into your marketing strategy, I’m here to help. Please reach out to me. Let’s chat.
Michael Pacheco [00:07:57]:
It’s completely free. I have nothing to sell you. And my only goal, with this campaign that I’m running right now, my only goal is to provide you with actionable value that you can apply directly to your business. You can get it me on LinkedIn or by reaching out to me directly from my website, michaelpacheco.co. And if you found this video helpful, please give it a like. Let me know in the comments if there was one particular part of this video, what was valuable for you, what helped you, so that I know what’s working and what’s not. That helps me make data driven decisions about the content that I produce, right? Don’t forget to subscribe to the channel if you’re watching on YouTube. If you’re listening to this as a podcast, please give us a review on whatever platform it is that you’re listening on.
Michael Pacheco [00:08:39]:
All of these things help me reach more businesses and help more businesses. That’s our big goal here at Michael Pacheco Consulting. So thank you for doing what you do. I’m Michael Pacheco. Till next time. Cheers.
Outro [00:08:54]:
You’ve been listening to The Revenue Engine with Michael Pacheco. For inquiries into market leadership, tailored strategies, or personalized consulting, visit michaelpacheco.co.
