How Can You Improve Marketing Success? Start By Optimizing Your Analytics
In a recent study conducted by Google, 70 percent of marketing decision-makers said a primary goal of theirs is to improve campaign effectiveness, increase revenue and optimize spend. But, it isn’t always easy to complete those goals. Specifically, organizations say they struggle to access or integrate performance data – a key to monitoring marketing communications refinement and success. And that issue isn’t going away, as the amount of information being created continues to grow. What’s the solution? Having the right talent, process, and support from the top.
What Was/Will Be the Primary Objective for Your Marketing Analytics Initiatives?
Source: Google Surveys, U.S., "2016–2017 Marketing Analytics Challenges and Goals," Base: 203, marketing executives who have analytics or data-driven initiatives, Dec. 2016.
Receiving in-depth analytics reporting is central to all of our ongoing client relationships at Russell Herder. In fact, we recommend you start any campaign planning with your end goals and the who/what/when of measuring progress.
In today’s digital world, the future is bright for marketing leaders who build a “culture of growth” within their organization that uses data and testing to improve customer experience every day. The best way to accomplish this, according to Google research, is a three-step process:
1. Take inventory: Outline a strategy that details what data you have, how you intend to use it and how it will be shared. Then, implement the collection process to focus on the marketing analytics that will drive key growth objectives.
2. Organize your data: Integrate a variety of data sources to help you create a holistic view of your customers’ behavior. The insights you uncover can open new opportunities.
3. Share the story: Very important! Tell leaders in your organization about the insights you’ve uncovered and how they can drive measurable growth.
What more does it take to spark a culture of growth? Google posed this question to senior digital leaders and marketers. To jumpstart an evolution, identifying and putting the right team in place is absolutely critical – and typically comprised of three types of leaders: Pioneer, Champion and X-Team.
The Pioneer is a change-maker with a passion for challenging the status quo. He or she possesses the urge to test new ideas and the determination to beg, borrow or steal resources to make them real.
The Champion is a VP or C-level staffer who discovers and supports the pioneer with the resources needed to move ahead: money, talent, developer time and a sense of urgent priority. This champion isn’t usually active in running tests, but realizes their value and gives them full support.
The X-Team is a small, cross-functional cadre of experts that can make the work happen. They might all be internal or may be a combination of your team and a consulting analytics expert.
While improving the success of marketing communications demands continual attention, make sure you don’t overlook how and what you measure.