You cannot plan any digital marketing strategy without a data-driven approach. But it is harder to implement it and measure success.
The 3 key reasons why data is important for marketing are:
1. Predicting customer behaviour
2. Segmenting customers into groups of similarities
3. A/B Testing to figure out what message pulls them in
Whether you run email marketing, social media campaigns, or Google ads, follow these 3 data-driven strategies:
First, Track Conversion Rate to see how well your site turns visitors into buyers. The average ecommerce conversion rate is around 2.86%.
Next, measure Customer Acquisition Cost
Lowering CAC means more efficient spending.
Did you know, on average, it costs $45 to acquire a customer online?
Thirdly, Don’t forget Customer Lifetime Value.
Knowing your CLV helps you understand the long-term value of your customers.
For example, Amazon Prime members have a CLV that’s over four times higher than non-members.
So, combine these metrics to get the full picture.
Use tools like
Google Analytics,
HubSpot, or
Shopify Analytics to track and analyze your data in real-time.
Regularly review and adjust your strategies based on data insights.
Start leveraging your data today and watch your ecommerce store thrive!
What metrics do you use for your marketing strategy?
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