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 [00:00:37]:
Are you making marketing decisions based on gut feelings or data? Let’s explore how leveraging data can transform your marketing strategy and drive business growth. Hi. I’m Michael Pacheco, a fractional CMO specializing in health and health adjacent tech industries. I want to guide you through the importance of data driven marketing and how it can enhance your decision making process. 1st, let’s talk about the types of data that you should be leveraging in your marketing efforts. We wanna understand the different types of data that can help you gather really valuable insights and make informed decisions based on that data. I’ve got 4 of them here. Number 1 is demographic data.
Michael Pacheco [00:01:19]:
This is the old school stuff talking about age, gender, income, education level, things like that. It helps you understand who your customers are, where they’re coming from. It it gives you a GPS coordinates. Let’s call it that. It shows you who they are. And number 2 is behavioral. Data on how your customers interact with your brand, including things like website visits, purchase history, how they engage with you on social media, that sort of thing. This kinda shows you what your customers are doing, how they’re interacting with your brand, with your company.
Michael Pacheco [00:01:50]:
Number 3, psychographic data. This is like insights into your audience’s interests, values, life styles, kinda things like that. It helps you understand why your customers make certain decisions. Number 4 is transactional data. This kinda touched on this with number 2 behavioral data when we talked about things like purchase history. But this is specifically transactional data. So it’s information on things like purchase history, but can also include order value, payment methods, anything that is transactional, even things like signing up for a lead magnet where they’ve transacted. They’ve given you their email address in exchange for x, y, or z, whether you that’s maybe it’s a PDF or it could be a free book that you send them in the mail, things like that.
Michael Pacheco [00:02:35]:
We’ve all seen them. We know what you’re talking about. Let’s move on now and talk about tools for data analysis. I’ve got 5 of them here. Number 1 is gonna be Google Analytics. Everybody probably knows this. It’s super powerful. Google Analytics 4 is even more powerful than Universal Analytics was.
Michael Pacheco [00:02:52]:
It tracks things like website traffic, user behavior, conversion rates, so on and so forth. It really helps you able to optimize your online presence. And number 2, HubSpot is a comprehensive platform. They’ve got everything. Right? And it offers tools for tracking customer interactions with your brand and your products and things like that. It helps you manage leads. They’ve got a fantastic CRM. It helps you analyze your marketing performance, what’s working, what’s not working, how to optimize it, things like that.
Michael Pacheco [00:03:17]:
Number 3 is Tableau. Tableau is a data visualization tool, helps you create interactive and shareable dashboards to make it easier, not only for you and your team to understand your data, but for your superiors, for the CEO founder to easily understand the data. Because looking at a spreadsheet with thousands of numbers, you can get general ideas about maybe where things are at. But if you bring that into visualization somehow and it’s just a graph going up or a graph going down that tells you a story at a glance, things that you’re not necessarily gonna get in a spreadsheet. And I wanna share a book with you that I think is really fantastic, and that is this one right here, storytelling with data. This is a fantastic book. Data visualization guide for business professionals. Really good stuff here.
Michael Pacheco [00:04:06]:
Again, just you get you get a whole story about what’s happening at just a glance when you visualize your data. Moving on, tools for data analysis. Number 4, SEMrush. This is SEO performance competitive analysis, tracking your visibility online. Number 5 is Hootsuite, specifically Hootsuite Insights. It’s social media analytics. It helps you track engagements, monitor brand mentions, analyze your social media performance. Moving on to making data driven decisions.
Michael Pacheco [00:04:35]:
With the right data and tools in hand, you can start making data driven decisions, and what that’s gonna do is just enhance your marketing strategy. You’re making more informed decisions. You’re adjusting course and pivoting based on what’s actually happening and not just a hunch. I’ve got 4 here, making data driven decisions. Number 1, set clear objectives. Define what you want to achieve with your data driven marketing efforts. Set your objectives. This could be increasing brand awareness, improving conversion rates, enhancing customer retention.
Michael Pacheco [00:05:08]:
Number 2, analyze and interpret data. We use those tools to gather and analyze data. Look for patterns, trends, insights, anything that can help inform your decision to adjust course, to pivot, to optimize, to fix. Number 3, test and optimize. Implement changes based on the data analysis. Implement changes based on how you interpret that data. Use AB testing to compare 2 different strategies, 2 different approaches to see which one works best. Always be testing.
Michael Pacheco [00:05:42]:
ABT. Right? It’s from Glenn Gary. It’s classic. ABT. That’s what they said. Right? Number 4, measure results. Track the performance of your data driven initiatives. Use KPIs to measure success and identify areas for improvement.
Michael Pacheco [00:05:55]:
Pretty simple. Right? What you measure matters. What you measure matters? That sounds nice. Measuring something means you’re you’re paying attention to it. If you measure something, you’ve got eyes on it. That’s the key.
Midroll [00:06:10]:
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Michael Pacheco [00:06:33]:
In conclusion, leveraging data for better marketing decisions can drive significant business growth. It just can. By understanding the types of data to leverage, using the right tools for analysis, and making more informed decisions in pivoting, adjusting course, optimizing, you can enhance your marketing strategy and ultimately achieve better results. What does better results mean? Better results means those business objectives. We’re not ever marketing for the sake of marketing. Marketing is always a means to an end, the end being a business objective. I want you to reflect on your current use of data in your company. Question 1, are you effectively leveraging demographic, behavioral, psychographic, and transactional data? Question number 2, what tools are you using currently today in your company to analyze that data? Number 3, how can you optimize your decision making process with these data driven insights? So considering these three questions can really help you identify areas for improvement and ultimately make more informed marketing decisions that achieve better results, that achieve business objectives.
Michael Pacheco [00:07:43]:
So if you’re struggling to leverage your data effectively, if you’re struggling to analyze your data, if you’re struggling to make data driven decisions, I’m here to help. Please reach out to me. Let’s chat. It’s completely free. I have absolutely nothing to sell you on this call. And my only goal is to provide you with actionable value that you can apply directly to your business. You can get at me on LinkedIn. You can reach out to me directly on my website, michaelpacheco.co.
Michael Pacheco [00:08:09]:
If you found this video helpful, please give it a like and let me know in the comments what was helpful for you. If you’re watching it on YouTube, please remember to subscribe, click the alarm, do all the things. Again, reach out if you have any questions. I’m happy to talk about this with you. No strings attached. Nothing to sell you. Thank you for doing what you do and we’ll see you next time. Cheers.
Outro [00:08:32]:
You’ve been listening to The Revenue Engine with Michael Pacheco. For inquiries into market leadership, tailored strategies, or personalized consulting, visit michaelpacheco.co.
