How Can Businesses Use Data to Improve Their Marketing Campaigns

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Marketing, Careers, Business

4.6 • 1.4K Ratings

🗓️ 20 July 2023

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode 2514, we talk about how businesses can use data to improve their marketing campaigns. Neil suggests that the biggest problem with how companies use data is that they’re good at tracking it but not as good at applying what they learn from it. You’ll hear some practical suggestions on what businesses should do with their data, the value of an experimentation framework, and how to incentivize staff to use data to make improvements. Eric also talks about the value he derives from the Magellan AI podcasting tool and how he feels about GA4 compared to the previous version of Google Analytics. Tune in to find out how you can use data to improve your marketing campaigns! TIME-STAMPED SHOW NOTES: [00:00] Today’s topic: how businesses can use data to improve their marketing campaigns. [00:33] The Magellan AI podcasting tool, the data it provides, and how it helps our hosts make better decisions. [01:24] The biggest problem with how businesses use analytics. [02:43] Thoughts on GA4 versus the previous version of Google Analytics. [03:41] Neil recommends what companies should do with their data. [04:10] The value of having an experimentation framework. [04:40] Incentivizing staff to make improvements based on data. [05:48] That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more! Links Mentioned in Today’s Episode: Bard Magellan AI Google Analytics “DataStu” [01:28] Tableau Don’t forget to help us grow by subscribing and liking on YouTube! Leave Some Feedback: What should we talk about next? Please let us know in the comments below Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	All right, so we're going to talk about how businesses can use data to improve their marketing campaigns.
0:05.3	More so first party data, because we took this topic from Bard, so we want to modify it a little bit.
0:10.0	All right, so how do you want to modify it?
0:12.4	I'm just going to put first party here. There we go. All right, so how do you want to modify it?
0:12.6	I'm just going to put first party here.
0:14.4	That's the first question.
0:15.6	How is Eric gonna modify the titles that we got from Bard?
0:18.6	I actually like it.
0:19.8	First party's first party data to improve. Here's a problem with this title just in general. I don't think most
0:25.9	businesses can use first party data because they can't really afford to do it right.
0:29.9	All right, we're going back, we're going to use data. We're taking the first party out, guys.
0:34.0	Here, I'll give you an example. Okay, before, so why do you think on this, why are you noodle on this, Neil?
0:39.0	We've talked about Magellan.
0:41.0	Aye, and that's the podcasting tool that costs $1,000 a month.
0:45.7	And that is a pure example of more so third party data that's being used, right?
0:51.1	So if I want to improve my podcasting campaigns, I now have a lot more information. I understand who's actually advertising on their podcast, who's actually renewing, what their renewal rates are, and also who they're partnering up with.
1:03.1	And I can also filter and see which podcasts also have a YouTube channel.
1:08.0	And so for example, for this podcast, if we want to collaborate with people
1:10.5	and Neil and I are like, if we're both in Beverly Hills, we're like, maybe we want to meet with people that Neil and I are like if we're both in Beverly Hills like maybe want to meet with people that are entrepreneurs that are just in Beverly Hill so we can do a life thing and so now we can make better decisions because we have better data.
1:23.0	Yes, the hard part with the data,
1:25.0	when businesses track data,
1:27.0	whether it's in Google Analytics,
	...

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