Is it performance without the data?
Marketing leaders need to pause and get data before going to market.
In today’s world, whether you’re a multi-billion dollar operation, a small-market community bank, or Main Street business, how do you know what is working if you’re not tracking?
There is a reason big companies have promo codes, referral codes, and the visualized dashboards. They want to know what works and what doesn’t.
Before I get into my point, think about your mailbox over the past week:
How many pre-approval credit card offers did you receive?
It was two for me: Southwest Airlines and Discover.
They keep sending them to households across America because they work. How do they know they work? The data tells them.
I recently moved an Excel-based referral program into the digital age and now have a baseline for performance. Not only that, with the baseline, I am able to invest in more strategic acquisition campaigns. The more data we get, the better the campaign will become. We will see our CAC decline and our value per acquisition increase.
None of that is possible without the process and the structure of the data. Demand programs with data. Demand a review of performance. And then, double down once you have it.