An Interview With A Madison+Main Expert: How to Use Data Analytics to Drive Better Business Insights
Written by: Lauren McKinney
Wondering how to stay on the cutting edge and maximize your business’s ability to reach your ideal client? The secret is all in the data! This week Madison+Main’s own Accounts Director Allison Nida stepped in to discuss the importance of understanding and applying business data to strategize more effectively, evolve, and grow.
Run the numbers!
The first step is gathering the data – many platforms, like Facebook and Instagram, offer feedback via built-in tools that can tell you a lot about who you’re reaching – and who you might be missing. Allison uses these and more complex tools available to gather information she uses to offer Madison+Main clients insight they then plug in to refine their strategies.
“Looking at the data analytics is how you can know if you’re reaching your goals and the right people – without them you can be going in blind on your marketing efforts,” Allison points out. Effectively using the data provided means you can curate your business outreach perfectly to reach your target audience every time.
The stats may surprise you.
Knowing what to look for matters – and so does a fair comparison. Allison uses relevant past data to check progress, including strategies like looking back a year to assess growth – comparing say, May 2023 to May 2022 – but she encourages a broad scope.
“Don’t forget all your contributing factors. A decrease in traffic or response might not represent a lack of growth,” she said. “Things will look different if an event or giveaway occurred during one of the periods you’re looking at, or maybe a campaign launched, so it’s imperative to consider the contributing elements and look at data strategically, as a learning tool.”
Allison knows analyzing data correctly can radically improve the effectiveness of advertising: “Using insights to drive action in your business strategy can tell you how to factor in things like gender and age, for example. If you’re advertising broadly just for brand awareness but are able to see from your data that those primarily engaging are women in the 45-55 age range, now you know who your messaging is resonating with! Then you can tailor your marketing and imagery to most effectively reach those people.”
This works for concepts like advertising areas as well – tailoring ads to Richmond but your data is showing significant website traffic and brand interest from Virginia Beach? Now you know where to launch a new campaign, or how to expand!
Success is in the strategy.
Different platforms require different perspectives. Goals aren’t one size fits all – your key performance indicators (KPIs) may be different across all platforms – so your strategy should be too. “Don’t forget to look at all the data and give campaigns time to make their impact.” Allison recommends three months for most kinds of campaigns to see how marketing is actually working, and stresses a wide lens – it’s easy to fixate on the impact of one post or one platform but it’s important not to make things too granular.
Madison+Main and Allison focus on getting their clients all the data they need: each business receives a monthly report, usually in the first week of the following month, showing their data, offering insights, and allowing them to understand where their marketing efforts are making the most impact.
Expert advice in translating and applying data can make all the difference!
Allison’s work in analyzing and interpreting data is paramount to client success and satisfaction, and shows the importance of having the right team. She wraps up by noting, “Madison+Main employs a holistic approach to data that our clients enjoy – we assess many factors and data across multiple platforms to compile a bird’s eye view of how everything they are doing works together. It’s so important to have a strong team and an account manager to ask questions of, to help you ‘speak the language’ of your data and make the right recommendations – we’ve got the resources and the right people to help you identify trends and execute more effective marketing.”
Want to make your data work for you? Madison+Main does too! Knowing you have the right team of experts to help you gather, interpret, and apply data to move your business forward makes all the difference. If you’re ready to have an expert like Allison Nida in your corner so you know your business is making the progress and impact it should – you’re ready for Madison+Main! Give us a call and let us help you create data-driven, dynamic, and effective marketing that’ll get your business better results – 1-877-623-6246.