Data Standardization Worksheet
This worksheet begins with the standardization of your performance data. We’ll walk you through how to combine these mismatched data sets in a step-by-step process so that every metric is speaking the same, common language. With all of your data standardized, it’s easier to locate the strengths of each platform and hone in on ways to optimize campaign performance.
Digital Marketing Intelligence Platform
What is a digital marketing intelligence platform — and why is it so important to today’s marketing companies? Marketing intelligence programs are programs that are able to aggregate, analyze, and display marketing data. Marketing intelligence systems are getting more sophisticated every day. Today’s marketing intelligence system has to be able to interact with multiple channels, consolidate data intelligently, and give marketers the freedom to set their own metrics and KPIs.
Today’s marketers are dealing with more moving parts than ever before. They may be dealing with dozens of marketing channels, including both online and offline channels. Digital marketers have to be able to glean key insights despite the fact that they’re operating on all these platforms at once.
Without a solid digital marketing intelligence platform, marketers are left to their own devices. They have to aggregate and consolidate their information on their own. They need to verify that the data in one system syncs up with the data from another. They have to figure out how to best drill down to the metrics that they need.
But a marketing intelligence platform automates this process. With a marketing intelligence platform, marketers are instead able to automatically import and validate their data. All the marketer needs to do is create their strategies and follow them; the digital marketing intelligence platform does the rest.
With as much data as marketers are being forced to manage today, it becomes even more important for advanced data analytics solutions to be involved. Marketers need to be able to manage and monitor their advertising campaigns through a single, consolidated dashboard; otherwise, it becomes difficult or even impossible for them to say how their campaigns are performing.
Marketing Intelligence: Definition
Let’s dig deeper into what marketing intelligence is. The definition of marketing intelligence is simple: it’s the information that marketers collect, from which they can glean actionable insights regarding their campaigns, strategies, demographics, and products.
But though the definition is simple, the practice is more difficult.
Today, marketers are inundated with large volumes of marketing intelligence. Companies are collecting immense databases of marketing intelligence, but none of this data is actually being used. There’s a difference between data being collected and data actually being able to be used.
Data is coming from newsletters, websites, and social media platforms. Marketers have the unenviable task of consolidating this information and conforming it to the same standards. Does a website track traffic the same way that the social media platform does? Newsletters don’t have likes, though they do have follows.
Marketers have to consolidate, sanitize, and validate their data. From there, they need to use this marketing intelligence to determine whether their campaign strategies are operating in the way they want and the way they expected. Again, this is no easy task. But there are tools to help. Digital marketing intelligence platforms provide the tools that marketers need to dig deep into their data and analytics and make the right choices.
Digital Marketing Intelligence Tools
What are some tools that digital marketers use to collect data and insights? There are both free marketing intelligence tools and paid digital marketing intelligence tools. Let’s take a look at some of the most common.
When first starting out, many marketers will use the free marketing intelligence tools that are provided on a per platform basis. Facebook, LinkedIn, Google; they all have their own free digital marketing intelligence tools. The caveat is that these tools are siloed. They only collect information from the given marketing channel. So, a marketer might need to track a half dozen or dozen different marketing analytics suites.
Not only is this difficult for a marketer to manage, but it also results in data that isn’t interactive. Multi-channel campaigns interact with each other by their very nature. Siloed marketing platforms cannot compensate for this.
Most marketers will need to invest in a commercial digital marketing intelligence tool. These tools come with features such as advertising intelligence; the ability to bring in marketing data from multiple sources, aggregate it, and intelligently consolidate it, so the marketer can form key insights. These robust marketing platforms make it much easier for marketers to draw conclusions from their data and make the decisions that are best for their organization.
Importance Of Marketing Intelligence System
What is the primary importance of a marketing intelligence system? Marketing intelligence helps to gather information from multiple systems and ensure that this data lines up in a way that can be analyzed as a whole. There’s a lot of marketing intelligence out there. But it can’t always be formed into a useful narrative.
Consider a customer who is contacted through email first. That customer then follows the company on Twitter. One day, when viewing their Twitter feed, that customer then makes a purchase through the website.
Without in-depth marketing intelligence, it’s easy to assume that the website secured that sale. But it’s not the case. The customer was actually acquired through email. The touch points that were critical were email, Twitter, and the website. It’s impossible to say whether any one thing secured the customer or not. And it would be a mistake for a marketer to, for instance, discontinue their emails out because they don’t seem to be leading to sales.
Marketing is about being able to outline the entirety of the customer journey, which is something that’s just not possible with mere fragments of data. Without a marketing intelligence software suite, marketers will only see fragmented parts of the customer journey, and may actually draw incorrect conclusions.
What Makes Up A Marketing Intelligence System?
How exactly does a marketing intelligence system work? What makes up a marketing intelligence system — and what makes one system more effective than another? At its most basic, a marketing intelligence system will work through consolidation, validation, customization, and application.
First, the marketing system has to bring information in from multiple platforms for consolidation. A marketer doesn’t want to have to check a dozen platforms for their key information. It has to be on a single dashboard. But then, the information has to be validated and sanitized. Each platform may collect information in a different way; if it’s not collected and aggregated consistently, it will give the marketer the wrong information.
Every company and campaign is different. So, once the data has been validated, it has to be customized; marketers have to select the data that they’re most interested in. Marketers have to be able to set goals. Finally, there’s the process of application: the marketer should be able to look at this data in real-time and respond to it as their campaign evolves.
These are the critical components of a marketing intelligence system. But not all digital marketing intelligence platforms are made equal. Some of them are naturally going to be more robust, reliable, and trustworthy than others. A marketing intelligence system is essential to digital marketing today. Without a digital marketing intelligence platform, marketers won’t be able to collect the information they need to determine whether their campaigns are operating effectively — or whether they’re even working at all.
Marketing Intelligence Example
Advertising Intelligence is a key marketing intelligence example. But first, consider that there are multiple things that can be referred to as advertising intelligence. In some spheres, “advertising intelligence” refers to competitive knowledge; the knowledge about what the competition is doing. In other spheres, advertising intelligence is used internally to refer to the data that advertisers have about their own advertising campaigns.
But there’s an entire category of marketing intelligence, called Advertising Intelligence. In this sense, Advertising Intelligence makes it possible to collect and organize advertising information within a single, consolidated, aggregated platform. From there, marketers are able to use this advertising intelligence to optimize their existing campaigns. Advertising Intelligence gives a deeper understanding of campaign performance, what’s working, what’s not, and what could just be done better.
As a basic example, a marketer might need to track Facebook, LinkedIn, Email, and Website contacts. They may have started a recent website traffic campaign, but may not be seeing any significant increases in lasting website traffic. On the other hand, they may have started a LinkedIn campaign that’s much more successful. The intelligence platform will be able to easily compare this data, showing the marketer that they may want to refocus their efforts on another platform altogether.
Marketers are having to track an extraordinary amount of data every single day. This data is also very disparate; it’s disconnected. Without an advertising intelligence platform, it’s almost impossible for marketers to understand how their advertising campaigns are interacting with each other.
With a digital marketing intelligence platform, not only do marketers gain access to more useful information, but they can also use this information faster. Their marketing campaigns become more effective and more agile. And their companies need to spend less money on their administration and more money where it matters most.
Ultimately, digital marketing intelligence platforms make each advertising dollar go farther by making advertising campaigns more effective. In a world of lean advertising budgets, where digital marketing remains supreme, this can make the difference between failure and success. A good marketing intelligence platform will provide everything a marketer needs to organize and visualize their data, improve and optimize their marketing campaigns, and ultimately improve their ROI.