How to Demystify Your Data

Brief Summary of Episode #25

We keep talking about data in marketing. 

But we don't really do anything with it.

How do we demystify the data?

On this Silver Jubilee episode of the Banking on Digital podcast, host James Robert Lay answers a question about data from Justin, marketing director at a bank in South Dakota.

Justin asked, "We've been talking about data at our bank and we keep talking about data in marketing, but we've not really done anything with that data because we just simply have so much of it. Is there a way that you can help demystify data for us?"

Data drives the dashboard in the digital growth engine. Four key gears compose that engine:

1. Targeted emails and targeted ads to increase traffic to your website. 
2. A website, not a glorified online brochure like so many financial brands still have today, but a tool that can generate leads from traffic. 
3. A marketing automation platform to capture and nurture those leads with content over a period of time. 
4. Sales and service enablement to convert those leads into loans and deposits and ultimately expand those relationships and opportunities. 

Those are the four gears of the digital growth engine. But like any engine, it needs a fuel source to power it. 

Content is the fuel of the digital growth engine. 

Content turns each of those four gears and moves someone through the stages of the consumer buying journey. 

Your data dashboard gives you insight into how well the engine is performing so you can make decisions.

Key Insights and Takeaways

• The 4 gears of the digital growth engine
• The 2 primary categories of data
• Digital empathy