We crave evidence-based decisions, especially when it comes to launching new initiatives like marketing campaigns. However, relying solely on raw data without understanding the bigger picture can be misleading.
This blog post explores the 5 common mistakes in data-driven decision-making which most business owners and marketers are guilty of.
We love ‘proof’ to decide anything. We want to make sure that we make a decision based on something that you can trust.
However, to what extent can you trust?
For example, when you say, it’s a 50% increase compared to last month, if the content/the amount of data is not enough, then it’s not accurate data at all to make any decision.
So, how should we make decisions when it comes to new launches, new content strategies, or new marketing strategies?
Let’s explore 5 common mistakes that many business owners and marketers tend to make.
1. You don’t check out the average metrics in your industry.
We live in a society that digital, and online is conquering most of it. why not use Google, ChatGPT to find out the average metrics to decide whether your metrics are going well or not? For example, let’s say you want to know “the average click-through rate for Facebook ads” in the education industry. We can simply define the average metrics rate by simply google it.
Although it can be changed from time to time, you can at least gain a sense of the target number.
2. You just don’t know how to compare the average data in marketing.
There are uncovered rules of thumb in marketing. For example, if you want to know the average engagement rate for your industry or the average reach rate for your industry, if you don’t know how to compare things, you should better to hire professionals to decide your further actions.
Comparing data can be a complex task. To ensure you have accurate data, I highly recommend hiring a professional for this.
3. You don't know the comprehensive marketing process. You are looking at only one tiny result.
For example, you want to know that you’ve increased your engagement rate on your Instagram.
What was the reason? It was your content or it was your inbound marketing or it was your hashtags or it was your Instagram stories or it was other social channels?
Check out every possibility and summarize them in one doc or Excel sheet and compare thoroughly. But you should at least have 2-3 months of content publishing, at least 2-3 times a week consistently without a break, to determine the appropriate next steps. Please avoid making decisions in 1 month. Exercise patience when making your decision.
4. You don't believe in the benefit of experiments when it comes to marketing.
If something is off, and you just want to decide with only your tiny data, sometimes you can’t find out what the next step is because you don’t have much data in it. That’s why marketing is so interesting and somewhat difficult. There should be new experiments to find out your next step to move forward.
Without experiments, there will be no new growth, there will be no further data-driven marketing
5. You avoid identifying the real problem in your marketing.
Probably you already know what the problem is. At least your gut can know.
However, even though you know the problem is, maybe because of your lack of funding or your lack of time, you continuously procrastinate to dig deeper and you encounter the same results over and over again and finally, you decide with the data you only see without the possibilities something is off in your product or your work process or teamwork or your website.
Without regular monitoring and auditing, you won’t be able to hit your goal soon and you can encounter continuous obstacles in your marketing and you could get lost easily.
We all know the real problem is not about your marketing, sometimes it can be us.
We should be honest when it comes to running a business and embrace our failures and keep moving forward.
If you only focus on data-driven marketing, specifically if you just focus on tiny little metrics, I have a huge concern about it.
Please embrace the uncertainty in your marketing, trust your professionals, discuss your process with your team members openly, and get any feedback to fix the problem.
You got this.
It’s not a one-time journey and that’s why it’s beautiful to see our future.
Talk soon,
Hyein
I'm an award-winning global marketing expert running HY Marketing in South Korea. We help businesses succeed in South Korea, Japan, and English-speaking markets through SEO, social media, and paid ads.
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