Insights. Insights. Insights.
Data-driven actionable insights. These are very familiar words across Teams and Zoom meetings over the last 18 months. But what do they really mean?
Many of our clients want insights and they want them now. Rightly so. As a team passionate about data collection, visibility, accuracy and analysis – this is music to our ears.
Organisations and brands, even most of the more traditional ones, now understand the importance of data, and the insights derived from analysis, as key to underpinning their digital transformation journeys and growth strategies.
All our clients, no matter what sector they operate in, are in competition. Competition to attain, retain, and increase customer LTV. They need consumers like us to choose their products or services over their competitors, be loyal and move up the value ladder.
A key contributor in achieving this is to understand customers behaviours and motivations.
An appetite for insight
Customer needs and wants has been the holy grail for marketers for decades. The digital world has presented brands with the opportunity to collect, process, analyse and optimise, based on a vast amount of customer data. Data is now a vital component in the armoury of marketers.
Our clients are at different stages of their data maturity, so the first step of using data as part of a growth strategy is to appraise where you’re at before the all-important insights you crave can be derived.
Business objectives need to be set, incorporating an honest appraisal of where the organisation is at from a cultural, people skills, processes and technology point of view.
To establish a data-driven culture, there needs to be an appetite throughout the organisation. There needs to be buy-in across departments towards changes to ways of working, and potentially familiarisation with new technologies.
The next step is capturing digital data requirements from across the business and assessing if you have the right technology to deliver on these, before moving on to implementing a best-practice analytics solution.
The value of insight
Once all the data that your business needs is being collected and processed via tools that work for your organisation, then the foundations for data-driven marketing decisions and growth strategies are in place.
Our team of clever analysts and data scientists conduct deep dives into each client’s digital data surfacing insights. Insights that form a statistical view of digital trends, allowing us to identify opportunities to improve user experiences, optimise journeys and refine content to increase revenues.
A recent deep dive into the data of a client in the gambling sector surfaced insights resulting in us making recommendations with the potential of delivering £200M+ revenue growth. That’s the value of insight.
To reach the ideal end goals - such as providing great products & services, creating memorable content & experiences, locking in customers to your brand for the long-term, driving brand & revenue growth - data now plays a pivotal role.
Invest in setting the foundations to ensure you reap the rewards.