…and other fun things to say to clients.
I’ve been working in the digital marketing field for many years and it amazes me that I still come across companies that know nothing about their own data. It’s so readily available these days that it literally makes no sense to NOT pay attention.
As Alex mentioned a couple of weeks ago in her blog post about a strong analytics foundation, you need to have a way to gather the data about your website, your social media channel, your email, your app, even direct mailers can be tracked if you plan it out first.
Well, not only do you need to have a strong foundation, but you have to have a plan in place for how you will use that information to your advantage. You can use every piece of information available to help inform your next marketing plan and get the most return from it.
Not Everybody Loves Your Brand
If you’re thinking your product/service/benefits are far better than the competition, join the club. Everybody thinks that. In order to make the most out of your digital footprint, you need to realize that not everyone who visits your website is a potential client…not everyone who likes you on Facebook is a brand advocate…not everyone who subscribes to your email would recommend you to a friend.
It’s important to know who your most loyal customers are, because then you know what to look for as you try to find more. You can’t win them all, but you can certainly figure out which users are more likely to convert. Use the data to follow the behavior of your users and determine which pathways offer the least resistance to conversion.
Give the people what they want – you’ll see the most return from your efforts when you pay attention to detail.
This is a Marathon, Not a Sprint
Revenue Attribution is the latest buzzword and everyone wants to get in on it. The trouble is that in order to build an attribution model for your marketing efforts, you have to make sure you’re tracking everything you’re doing – even offline data – to get the complete picture.
Sounds simple right?
You can’t just flip a switch and say ‘now I know where to attribute every sale’ – it doesn’t work that way. Sometimes it takes years before you can begin to understand where your marketing dollars are most effective. Even then, there will always be variables outside your control that you cannot account for (multiple devices, multiple browsers, word of mouth, caching, etc.).
Doing Analytics Right
If you ask me where I think you should start, my answer will always be ‘at the beginning’. The first step in establishing a clear path to advanced analytics and attribution is to clean up the data you already have. Take the time to get to a place where you trust the data you are monitoring and can be confident that your analytics setup works efficiently.
Here are some steps you can take to get started:
- Take inventory of your data
- Where is it coming from?
- How accurate is it?
- Who is monitoring it?
- How is it being used?
- Create well-defined goals
- Increase brand awareness
- Generate more sales leads
- Reach a new audience
- Increase online sales
- Establish success metrics
- How do you measure your goals?
- Is there tracking in place to accomplish that?
- Visualize your data
- Make your metrics easy to digest
- Report on the right metrics to the right people
Ultimately you need your analytics plan to use the data at your disposal and prove that you can turn your marketing budget into revenue. It can be done.
Want to learn more about how to do analytics the right way? Join us September 7th at our next Lunch & Learn @ Liquid – The New Analytics: Not Just a Numbers Game Anymore. There’s no cost attend, but registration is required. Save your seat by 9/3.
About Nicole Castelblanco
Nicole Castelblanco is Manager, Research & Analytics at Liquid. She leads the department in the planning, implementation and management of online lead generation programs which include paid and organic search, display, social media, email marketing and analytics.