Go From Average Joe to Pro With These 5 Marketing Analytics Power Moves
Marketing teams rely on their analytics to perform at the highest level and drive results that boost your business’s bottom line. Standard analytics provide the ability to perform basic optimizations and track results, but taking your marketing analytics to the next level makes the data much more powerful.
Here are 5 power moves that will help you get your marketing analytics from average joe to pro.
Power Move 1: Scalable Reports
Average Joe: Every report is done ad-hoc. Creating a new report from scratch for every data request can wind up taking all of your time. Manually entering data might make building the initial report easier, but it becomes a lot less fun when the inevitable “update request” comes in.
Pro: Building every report to be easy to update and scalable. Reports don’t exist in a single moment in time. Marketers want to see how their metrics change over time to measure improvement and the impact of their campaigns. The ability to update and scale reports needs to be considered early on to prevent future difficulty in providing data.
Power Move 2: Segmentation
Average Joe: Taking a holistic view of your lead database. Measuring all leads in your entire database the same way is fine for high-level trends, but it doesn’t get you the insights needed to refine your targeting and drive more business.
Pro: Segmenting your lead database. Defining the key segments for your business allows you to target a specific audience of customers more likely to make a purchase. Marketing analytics that use audience segments can help marketing leaders determine which customers are the most profitable and the specific tactics that work best to draw them in.
Power Move 3: Marketing & Sales Alignment
Average Joe: Different reports for marketing and sales. It’s hard enough to get the marketing and sales teams on the same page, but when everyone is looking at different metrics and reports it makes it near impossible.
Pro: Unified reporting with agreed upon metrics. Marketing and sales teams need to work together to achieve the business’s revenue goals and that starts with metrics. The leadership from both teams need to determine a set of metrics to define success with unified reports to continuously track toward their goals.
Power Move 4: Online and Offline Attribution
Average Joe: Only taking credit for online leads. Digital marketing has shifted heavily toward mobile thanks to constant internet access afforded to us by smartphones. Marketers have robust abilities to attribute and track online conversions captured via lead forms, but when conversions occur offline via phone call it’s another story.
Pro: Attribution for both online and offline leads. If you can’t attribute customer calls to your marketing efforts, you could be missing or misattributing as much as 49% of your conversions. To account for those offline conversions marketers use call attribution software to connect phone calls back to the marketing sources that drove them. When your analytics include the conversions that occur offline as well as online, your lead generation and revenue metrics will represent how your marketing is actually performing.
Power Move 5: Multi-Touch Attribution
Average Joe: Relying solely on a single-touch attribution model. Gone are the days when customers convert after a single interaction with your brand. The customer journey now spans multiple devices and channels, making it much harder to credit conversion and revenue to a single source.
Pro: Employing a multi-touch attribution model. Marketers use multi-touch attribution models to assign credit to the numerous channels that influence customers at different times during their customer journey. There are five predominant attribution models and the ones that attribute multiple touchpoints create more powerful analytics and help marketers determine which channels are the most impactful and where in the customer journey they should be employed.
Improving your marketing analytics can transform how you plan and optimize your marketing campaigns. Getting your marketing analytics to the pro level requires cross-departmental alignment on common metrics and goals as well as improved data capture and analytical modeling.
Marketers who are serious about taking their analytics from average joe to pro use call tracking to account for every conversion and revenue dollar driven by their marketing efforts. To learn more about the role call conversions play in your marketing analytics, download the CMO Solution Guide: The Unexpected Impact of Call Conversions on Marketing ROI.
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