Turning Data Into Decisions: Don’t Let Insights Die On the Vine

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Too often, marketing analytics efforts are “reactive”, and result in few insights and little action. To keep insights from dying on the vine, here are three areas to focus on if you find your organization struggling with actioning data.

1. Integrate analytics into your planning process. Don’t be reactive, and don’t wait to bring in the data teams to “find out how you are doing.”

Retrospective analyses serve an important role but have key limitations. The most actionable insights often require upfront thought on data collection. If you wait until a campaign is in market to bring in your analysts, the ceiling of what you can do with your data will be much lower.

Monthly and quarterly reviews are part of the process for most marketing orgs, but this cadence alone doesn’t always mobilize insights into action. These reviews tend to become insight graveyards. Shift some of these analytical resources into strategy and planning workstreams and make sure that aligning insights with key decisions is part of your project plan.

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2. Align your organization correctly. Create “optimization teams” that surround insight generation with executional support.

Analysts should be in every relevant area for your company.  These optimization teams should embed analysts into the process of channel management. Start with pairing an analyst with your Web, Paid Media, Email, CRM, and Social teams.

These teams should be responsible for concepting and maintaining a running list of optimizations. Ensure that each optimization concept has a primary KPI and hypothesis associated with it. Then, ensure those optimizations meet those KPIs.

Use historical data to weigh the benefits of each optimization so they can be prioritized. Before implementation, define the specifics on how and when that optimization will be evaluated. This takes discipline but is a key framework for integrating analytics into business decisions.

3. Build the right insights through a testing framework.

We have already learned that relying purely on retrospective analyses will limit your ability to make data-driven decisions. We also know that optimizations need to have a specific plan for measurement and evaluation. Blending these concepts, it is easy to understand why a well-thought-out approach to testing is necessary.

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A solid testing framework will:

Don’t be reactive with your analytics approach. The proactive processes above take discipline and planning – but ultimately provide the most efficient way to generate actionable insights, drive decision making, and avoid wasting analytics resources. Once the initial investment in infrastructure is made, you will have a well-oiled insights machine.

Our analytics team is here to help you with this initiative.  Launch P.A.D.™ was built to help you set up and enjoy the benefits of an efficient, insights-driven analytics framework.

Learn more about LaunchP.A.D.™ and fill out the form to start making more informed data-based decisions with the help of our team.