Leveraging marketing data is key to continual optimization and driving growth. This article explains how feeding bottom-of-funnel analytics back into top-of-funnel activities boosts acquisition and reduces costs over time.
Using bottom-of-funnel data as input to top-of-funnel activities is an effective way for marketers to decrease costs of acquisition or conversion, increase customer engagement, and understand marketing attribution. To make this retrofitting happen, data from the output of the loop should be used as an input for top-of-funnel activities. It is important for marketers to have working knowledge of how this flow of data works and be involved in these conversations.
An example of a growth loop can be seen below, which shows how customer data flows throughout it. New customers will have their first attributes and behavior data points captured via acquisition channels, while returning customers will have their existing data already in the customer database. Data enrichment will also occur, such as collecting additional information for personalization and UTM tracking tags for attribution. Conversion data can take many forms, such as sales, qualified leads generated, or quality time spent on the app. This data can come from different sources, including those outside the channels used in previous steps of the loop.
Using this data as an input into top-of-funnel activities can help marketers decrease the cost per acquisition/action, create a more targeted, customized approach in campaigns, and gain more insights into attribution. Depending on the martech stack, this type of automated data connection can be set up, but marketers can still make it happen by working with appropriate stakeholders. Doing this can also help improve marketing ROI.
Originally reported by Martech: https://martech.org/how-to-use-conversion-data-to-enhance-top-of-funnel-marketing/
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