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Using your business data to thrive in 2022

Feb 24, 2022

Joe Papadatos, Managing Director, Icon Visual Marketing

As the owner of a full-service marketing agency, I consider our main objective is to always help our clients grow. We do this by providing them with the roadmap ahead so they can make great decisions, and ultimately create a thriving business.


But as we navigate out of the pandemic into an uncertain 2022, the game has changed. Strategies and activities that once had an impact are no longer as powerful. For example, across the board we have seen a reduction in search volume, i.e., people looking for specific services. Historically, this was always a great channel for lead generation.


However, collectively the data is painting a different picture. As we look at our own data sets, there is a very clear scenario in 2022:

1.     Customer journeys have become more complex with increased touch points;

2.     People are more reticent to proceed unless they are confident of the outcome; and

3.     Business owners are wanting to better understand the activities, technologies, and strategies their company employs.


So, from a big picture position, the reluctance of business owners and CEOs to be assertive in wanting to grow means a collective rethink for 2022.


But how do companies thrive when uncertainty and fear abound?


It may be surprising to know that the answer is right there in our hands. Can you see it? Feel it? Analyse it? The variable that will help us all navigate towards being a thriving business is the data that we have at our fingertips. Every company has it. The skill is in knowing how to interpret it.


Let’s briefly define it.


Data is the information that you are collecting from your website and digital marketing activities. We call it first party data. It’s your own data and can provide you with many valuable insights.


This data can:

·       Come from your website and socials e.g. organic or campaign data, or

·       Be stored in your Customer Relationship Management (CRM) systems, e.g. offline transactions, phone calls, etc.


Most businesses have access to multiple data sets that can collectively help provide the roadmap for the future.


First party data, or your own data, is the best source of information you have.


It is your greatest asset to:  

·       Create a benchmark for your business,

·       Analyse and act on trends, and

·       Make well-informed decisions.


From a sales and marketing perspective in 2022, the focus is on building thriving businesses by better understanding client/user experiences and behaviours.


We seek to understand by asking the following questions:

·       How are people engaging with our brands?

·       What does the client/user experience look like?

·       What are the changes in online behaviours compared to 12 months ago?

·       How are they reaching out or engaging?

·       What problems are they trying to solve?


Combined with data collected offline, first party data can provide us with the answers to these questions.


Our strategies are based on this information and will ensure that the outcomes line up with your business objectives.


A clear example of this is in the home builder market. The lack of new land combined with an increased demand for housing has meant that more and more home builders are moving into Knock Down Rebuilds (KDR). Only 2 years ago, this sector represented less than 30% of new enquiries. Today KDR represents around 90%.


The impact of this change has meant that the client journey is being reconsidered. A Knock Down Rebuild customer is going to ask very different questions to someone building on a vacant block of land. The first party data is vital in understanding which changes need to be made to enable us to pivot towards new trends such as this one. 

Summary

Your own data or first party data is one of the greatest assets your business has. The roadmap for thriving in 2022 is based upon understanding the picture it is painting for you.


At Icon Visual Marketing, our life’s work is helping companies thrive. Implementing solid strategies using first party data provides you with the certainty you need to thrive.


Get in touch with us to learn how we can help you interpret your first party data and help your business thrive in 2022.


Send us an enquiry or call us on 1300 138 984 for a chat.

KEEP IN TOUCH

Contact Icon Visual Marketing today on 1300 138 984 or fill out our
online enquiry form to start your journey to business growth and prosperity.
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