Data-driven marketing resource allocation (MRM) is a process for allocating marketing resources in a way that is based on data and analytics. The goal of MRM is to optimize the use of marketing resources by using data to make decisions about where to allocate those resources. The MRM process begins with data collection. This data can come from a variety of sources, including customer surveys, sales data, website data, and more. Once this data is collected, it is analyzed to identify trends and patterns. This analysis is then used to make decisions about where to allocate marketing resources. There are a number of factors to consider when allocating resources, and the data-driven approach allows for a more informed and strategic approach. This checklist can be used as a guide for allocating resources in a data-driven way.
- Evaluate your marketing data sources and collect data on marketing performance metrics.
- Define your marketing goals and objectives.
- Analyze your marketing data to identify trends and benchmarks for marketing resource allocation.
- Understand your customer segments and their needs.