Unlike with traditional print marketing, an enormous amount of data can be generated from online marketing efforts. Tapping into this data will help you to refine your online learning approach, and most importantly, find the customers who are most interested in paying for your product.
When each step in the product development process — creation, pricing, distribution, reporting, etc. — is approached from a marketing perspective, you'll gain an advantage over your competitors and help ensure success. Michael Daecher, CMO at ArtistWorks Inc., provides five pointers to help your organization get into the marketing mindset and be data-driven.
KPIs: Determine the Key Performance Indicators (KPIs) in your marketing funnel that you want to measure. For example: Number of sales, dollar value of sales, number of clients, and number of courses completed.
Google Analytics: Daecher suggests using Google Analytics because it’s free and allows your organization to set goals and use UTM parameters to track performance.
Use pixels: Install the appropriate pixels (Google, Facebook, etc.) on your pages to measure paid media. Pixels help your organization understand what happens after a customer clicks on your ads — whether they purchased a product, signed up for your newsletter, called your business, or downloaded your app.
Use your data: Use data to your advantage, such as in email automation. If you have a customer relationship management (CRM) system, target communications to customers at each stage of the funnel.
Learn: Most importantly, learn from your successes — and failures. “Iterate early and often,” says Daecher.
Data-driven decision-making will save you time, save you money, and give you a competitive advantage. Knowing exactly how your learners are interacting with your content — where they succeed, where they fail, what content types they are drawn to, what kinds of courses they pay for — will help your organization make important decisions about your online learning business quickly.
To be data-driven, consider Daecher’s five tips above. Then, to learn how the Thought Industries’ Learning Business Platform™ can enable better, data-driven online learning strategies, schedule a demo.