[Bonus] How Marketers Can Use Buyer Intent Data

Jul 23, 2024

Data-Driven Decisions is a new limited-series marketing podcast presented by Convince & Convert and shared with our Social Pros listeners.

Data is being used more and more to help businesses make the best decisions, in part thanks to the greater selection of tools available to capture it. But what if you struggle to access that first-party data? And what can you do with data once you do have it? 

A Balanced Approach to Data-Driven Decisions

In this episode of Data-Driven Decisions, we sit down with Rand Fishkin, Co-Founder and CEO of SparkToro, an audience research tool that helps organizations understand their audiences better. Rand explains how SparkToro helps businesses learn about and target their audiences, and shares examples of users who have seen success with the platform. 

We hear his thoughts on common mistakes marketing teams make, such as relying too much on Google and Meta ads, and why sometimes more unconventional marketing can achieve better results. Rand also shares his balanced take on the use of data to drive decision-making. While data can be a great guide, there are certain blind spots that the data can’t tell you about. Rand recommends a more balanced approach to data usage and supplementing data-driven insights with experimentation, intuition, and direct customer conversations to really get to know your customers. 

In This Episode:

• 0:27 - How SparkToro works
• 3:11 - Why marketing is too focused on Google and Meta ads
• 4:20 - What companies typically underinvest in
• 6:57 - Examples of how clients use SparkToro
• 12:49 - The problem with focusing on channels and tactics rather than the audience
• 14:46 - How uncommon tactics are inexpensive (and sometimes more effective) compared to ads
• 16:31 - How a brand used Reddit in a unique way
• 19:15 - Zero click marketing tactics that help customers know, like, and trust you
• 20:45 - Are pre/post-purchase surveys misleading?
• 25:54 - Why Rand prefers to look at correlation not causation
• 27:05 - How Rand’s relationship with data evolved from Moz to SparkToro
• 29:17 - Why it’s harder to prove the value of tactics today
• 31:23 - The problem with attributing value to search engines
• 34:07 - Advice for organizations embarking on their data-driven journey
• 35:47 - Rand’s take on why data doesn’t tell the full story
• 39:18 - How to recognize what data can and can’t solve

 Quotes:

“One of the big frustrations that I have is that marketing has gotten more and more Google and Facebook advertising shaped... SparkToro is trying to show you where your audience actually spends time.”

“I think it pays to be responsible in your recognition of what problems data can solve and what it can't solve. It's not always the case, in my opinion, that every culture needs to be more data-driven."

“I'm always shocked at how much I learn when I spend a bunch of time talking to customers or watching interviews.”

Resources:

• Connect with Rand on LinkedIn: https://www.linkedin.com/in/randfishkin/
• SparkToro: https://sparktoro.com/

Purchase the book at koganpage.com/datadrivenpersonalization (use code CCData20 for 20% off and free shipping in the UK and US) and sign up for more content at convinceandconvert.com.