Data Made Easy - Aiva Labs Explains How Marketers/Biz Owners Can Start Putting Data to Work ASAP
On May 6th, The Economist magazine made waves with its headline titled,” The World’s Most Valuable Resource is No Longer Oil, But Data.” You might remember the impressionable artwork used on that cover, depicting the big data companies atop their own oil rigs.
Well before The Economist dropped this headliner, industry heavyweights and business leaders have long been aboard the data bandwagon – it’s nothing new, but now, it’s mainstream. You have Mark Cuban echoing the ‘data is gold’ sentiment in his interviews and a majority of the top books in marketing and communications now are all focused on the topic of data.
One of my earliest posts on this blog about Netnography explains how today’s companies benefit from collecting data about the activities of online communities, but this post is about how your average Joe marketer, communicator, or business owner can start collecting this new digital gold for themselves and putting it to work in their day-to-day. I spoke to the data experts at Aiva Labs, a blossoming startup based out in Canada, to get the lowdown on how we can weave data science into our day-to-day:
Dan Pantelo (PRProfessor): Why are data insights important in the digital age and why should all business owners understand how to gather digital data?
Sarosha Imtiaz (CMO - Aiva Labs): Businesses can use data insights to take an in-depth look into their customer trends and identify problems that would otherwise be undiscoverable. They can assess behavioral information to differentiate their audience and create personas based on browsing patterns. This provides businesses a great way to target groups of individuals that share similar interests with unique offers and give each individual visitor a personalized experience. These offers must be tailored for particular devices since a user behaves differently on a mobile device versus their desktop.
Dan Pantelo: What are the steps a small business owner or marketer can take immediately after reading this article to get started collecting data and making more informed decisions from it?
Sarosha Imtiaz: The first thing any small business owner or marketer should do is find a conversion solution to help them engage their visitors and understand their audience through data analytics. Research shows that businesses who leverage micro-moments before converting users have optimal results. These micro-moments consist of prompting users to navigate to certain pages, educating themselves on specific topics, convincing them to submit some information and then convert them into customers by offering an incentive. The next step is to start implementing creatives, examining trends in their data and testing different ideas to optimize results. Some effective campaign types include:
Empowering visitors to one-click call your business during office hours and prompting them to contact you with a pre-drafted email otherwise.
If your mobile users aren’t able to navigate through your site with ease, create a navigation bar that blends in with your website to guide new visitors to appropriate pages.
If you have an e-commerce store with high cart abandonment, try offering a discount when users leave the page in exchange for an email address. That way, you can continue using your email marketing efforts to convert them into lifelong customers!
Sometimes, analyzing data can be a nuisance. It doesn’t have to be, especially with tools like Aiva which display website insights in a visually stimulating, easy-to-understand dashboard & reports.
Dan Pantelo: What will likely happen to marketers/business owners who ignore digital data?
Sarosha Imtiaz: Digital data gives marketers/business owners an inside look into what their customers are thinking. If a business chooses to ignore digital data, their competitors will eventually surpass them! Using this data, companies can execute a well-thought out marketing strategy which can even disrupt the biggest players in the industry who are reluctant to use data to their advantage. By analyzing data, Dollar Shave Club realized that their target market consumed video content on social platforms and as a result was able to create successful viral campaigns. Businesses who integrate digital data into their workflows will lead their industry since they will become more efficient in predicting upcoming trends and making data-driven decisions - while others are left to play catch up.
Dan Pantelo: How do you feel about the value proposition of traditional PR (paying a firm a monthly retainer to get into the news)?
Sarosha Imtiaz: Traditional PR is still very relevant today but has changed dramatically in its implementation. PR firms are challenged to constantly come up with innovative ways to reach audiences who don’t watch TV or listen to the radio. However, through clever techniques like native advertising and building relationships with massive online news providers, PR can remain essential for all emerging companies who need to have their stories heard.
Dan Pantelo: How does Aiva Labs feel about Growth Hacking (using technology-based solutions to grow the number of users for a product)?
Sarosha Imtiaz: We believe that growth hacking should be a cornerstone of any business since it is a unique blend of lead generation and optimization. Online businesses can benefit greatly by rapidly creating and experimenting with different calls-to-action to determine which are the most successful with their audience. This process helps them fine-tune their messaging and consequently lower their cost-per-customer acquisition.
Dan Pantelo: What are the next steps for Aiva Labs in the mission to improve operations for marketers/business owners?
Sarosha Imtiaz: Our next step is to launch commercially on the WordPress and Shopify web-stores while continuing to build awesome features to help website owners boost their conversion. We encourage everyone interested in this topic or in keeping up with Aiva Labs and our service offerings to check out our website at aivalabs.com.
Dan Pantelo: Thanks for your time Sarosha - best of luck!