Data is the lifeblood of digital marketing as it allows you to optimize and personalize customer journeys and increase conversions. However, they must be cleaned, stored and managed and, most importantly, made available in real time. Accessing and managing high quality data is the biggest challenge facing future-oriented jewelers.

Marketing today is no longer about posting generic advertisements in the mass media, hoping the right people will see them.

The jewels are an expression of varied tastes and preferences, the measurements of which can have important outcomes for the success of the company. With data-driven marketing, you can use tangible metrics like cost per click (CPC), cost per lead (CPL), cost of customer acquisition (CAC), return on investment (ROI) and more to monitor your campaigns in real time.

In addition, the many analytics platforms such as those relating to websites and social networks, provide the measure of how different strategies and various channels affect customer behavior. In fact, the ultimate goal of data-driven marketing is to collect, analyze, predict and optimize marketing performance to increase profits. Consequently, the data-driven approach also helps to improve communication and customer engagement, while emphasizing the opportunities for innovation.

Once the data is collected, it needs to be cleaned according to its relevance to the project or campaign and then archived appropriately. The data collected requires the right mix of technological tools and human intervention to generate qualitative insights. For example, a particular line of jewelry to which customer segment should it be offered? Which channel is the most effective for meeting this audience? What type of content or promotions are you most likely to get positive feedback with?

By using the right tools to collect and analyze data, managers and entrepreneurs can answer these and many other questions. The tools to be used can be many: some aggregate website data while others manage campaigns or implement artificial intelligence software. For example, one of the most popular website analytics tools is Google Analytics. The updated version, Google Analytics 4, allows marketers to better understand the change in customer behavior. They are assigned unique IDs that allow them to track their behavior individually, from acquisition to conversion.

Google Analytics is also ideal for targeted marketing and search engine optimization (SEO). On the other hand, with the growing adoption of social media platforms, it is essential to implement and monitor effective campaigns. While individual social networks like Instagram, Facebook and YouTube provide crucial analytics, other external tools allow you to centralize the flow by monitoring multiple platforms through a single tool. The advanced CRM tools allow you to analyze the global interaction of a customer with their company. They, in addition to keeping track of metrics such as the turnover generated by customers, the cost of retention and the rate of renewal, allow an effective analysis of all data by centralizing them in a single platform.

Are you doing it right? How do you prepare for the future?