Data analysis has become a fundamental part of any media or advertising strategy, as it is the key to understanding what’s working, changing what’s not and improving for future campaigns.
The information we can obtain from a campaign is what is known as big data and can range from web traffic or social media impressions, to demographic data or customer purchase history. The key is to analyse what information is most important for our strategy and, above all, to measure it periodically in order to study how it is evolving.
How can data analysis help us? By studying the results of a campaign we can obtain information that will help us:
– Better understand the behaviour of our target audience.
– Decide whether the campaign is working as planned.
– Know the most effective sales channels.
– Identify new business opportunities.
– Improve campaign segmentation.
All of this will help us to understand the results of our campaign, but a complete analysis should start before the actual development of the strategy. What should our study include?
– Reports from the past, which help us to know the history of the brand. Knowing what has been done, how it has been done and how it has worked will help us to know what mistakes have been made in the past and avoid them in our current strategy.
– Real Time. This part of the analysis focuses on knowing what is happening in real time. We should not wait until the end of a campaign to know how it has worked, but it is essential to know what is happening with it in order to be able to implement changes constantly.
– Industry trends. In addition to knowing and analysing our campaign or our product, we must also be aware of what is happening in the sector. Both the analysis of the competition and a more general study of the sector and its trends will help us to broaden our horizons and improve our strategy.
It is important to understand that we cannot analyse data in isolation, but as part of a whole, as only then can we identify which information is the most relevant. It is also necessary to have a complete vision of the project and to understand which data are most relevant to the main objective of the project.
We must bear in mind that we must not only carry out a quantitative analysis, but the most important thing is the qualitative part that allows us to understand what each of these results mean and how we can apply them in our strategy.
In short, data analysis allows us to make decisions based on studied and accurate information and has to be a fundamental part of our media and advertising strategy.
