GrowthFit Interview series
Episode #30

Making the Best of Data-driven Marketing

Making the best of data driven marketing with Chinmay Naik

Highlights of the talk

  • Marketing metrics that matter the most: Conversion rate & ROI
  • Things to keep in mind for personalization
  • The right marketing mix to succeed with your campaigns
  • More about Chinmay's marketing journey

Chinmay's journey in marketing

Tell us about your journey in marketing

My career started as an aircraft maintenance engineer and later transitioned into marketing. This was decades back when social media was still evolving as a commercial space and marketers were still trying to figure out how to use it. I got interested in this field and started my own agency and served clients across South east Asia and the US. Thereafter I switched to employee mode and joined Cashfree where I headed the digital marketing team.

About 11x Marketing Agency:

We are into full funnel marketing. We help eliminate leaks in the funnel to get maximum revenue out of the early leads they acquire.

Strategizing Marketing for B2B

How do I start a social media campaign for my business, especially if I'm starting?

There are two approaches to social media- paid and organic. Since revenue is now crucial for the social media channels, we are more dependent on paid campaigns.

Experimentation is crucial, we might have to do many experiments to understand what works best with our customers.

How to measure and give a structure to social media campaigns?

Engagement on posts becomes crucial that contributes to brand awareness. Apart from this, we use tools like Google Trends to figure out other related metrics like search volume.

Metrics that matter

What is your favorite metric?

Return on investment is crucial. Many things build over time. So we need to have faith and understanding and keep building on top of it.

What are the challenges for marketers in weekly meetings?

Reporting is crucial and tools are emerging to make work easier. All stakeholders need to be aligned on what we are tracking- what is a good sign and what are bad ones. We are still evolving on that and trying to get there.

Learning for campaigns

Tell us about campaigns. What are your successful and unsuccessful ones?

Email marketing usually gets a bad rep. I could find success in email marketing with personalization which is beyond using the first name and company name. Whether it is in B2B and B2C, if we can personalize with respect to browsing history, this way personalization can be leveraged to the highest potential.

Conversion-focused marketing

What do you think helps SaaS marketers to improve conversion rates?

In conversion rate optimization, tools are still evolving. People are trying various tools and experimenting with practices to get conversions at the top of the funnel.

What advice would you give to an aspiring marketer?

There are different areas that might interest different individuals. If someone is starting out, then the best way is to start a blog that speaks about digital marketing and promote it. That’s how people initially learnt about marketing when there was not much material available. Some people wait for the right opportunity. Today, that’s not required.

Would you like to share your secrets about data driven marketing?

We are in an age where we can’t help but be data driven. An important thing is when do we measure things from stages across the funnel and metrics like open rates. All these put together shows a holistic picture. You can’t improve what you can’t measure. When we know our scores, we always want to increase them.

What would you choose amongst these to increase website traffic-

  • Paid traffic
  • Referral traffic
  • SEO
  • Guest blogging

I would choose a healthy mix of all the four depending on the businesses and the stage of growth the company is in.

Implementing Personalization

What are your thoughts about personalizing website pages according to audience segments?

Previously, there were static websites and we had to create 50 different landing pages. Now there are tools that help businesses generate website pages with personalization. This creates huge opportunities for businesses to create customized discussions instead of plain vanilla content.

How would you make your personalization strategy, let’s say in an ABM campaign?

There are different needs to be fulfilled for different stakeholders- each has their own north star. We can customize with language too. Language can also be a convincing factor.

Advice for marketers

What would you like to share for budding marketers?

Experimenting is important but it takes time. So you need to decide whether you have time for conducting let’s say 55 experiments to get the needed results.
Documenting our learning helps a lot so that we can always use it for future reference.