Data driven marketing is applying the scientific method to the business of marketing. Modern data driven marketing studies the way advertising and messaging causes emotional decision making, then measures and implements the most successful measurement systems. Popular methods include A/B testing, touch point analysis, and conversion tracking.
A/B Testing is based on the scientific concept of a control and experiment. You send a portion of your traffic to an alternative version, and compare the results. Using statistical tools, when you achieve a 95% confidence in the superior system, you end the experiment and implement the change. By finding a series of changes, large and small, that grow your business, you are able to improve efficiencies in marketing spend.
Touch Point Analysis
A buyer normally needs 6-11 touch points to make a decision. Sales analysis focuses on the last touch point, but attribution modeling helps you track through the entire process. By capturing lead data early in the process, combined with modern attribution software, you can see how your various messaging channels impact the decision.
Monitoring how users interact with your brand and convert to customers is critical to the conversion funnel. This can be seeing which landing pages ultimately convert, monitoring your remarketing channels to close lose opportunities, and looking for break points in the operational funnel. Tracking your advertising spend to conversions (either leads or sales) can be critical to optimizing your spend.