by Jeanne Roué-Taylor
It would be really hard to overstate the changes happening in marketing as our world is immersed in burgeoning amounts of all types of data. We suddenly have data that allows us to measure marketing performance through platforms that accumulate historical and real-time data from mobile, web and in-store sources like never before in history.
This definitely gives us visibility into how our campaigns performed, but there’s something more urgent happening that not everyone realizes—the need to see the marketing business from a new and powerful perspective. We need to understand the game before it even begins—before the campaign is executed—through actionable models and analytics that tell us what the rules are, where the game takes place, and how to play.
Three Areas of Understanding
The game is decided by three key areas of understanding that are critical to being competitive:
- A focus on segmentation – Marketing segmentation is becoming more complex and more powerful. In a noisy world, great segmentation is the arbiter of who engages with the right messages at the right time.
- The power of propensities – There are far more propensities than simply the propensity to spend or act on a particular offer. Marketers need to get to the heart of why customers attrite, act on social media and a host of other behaviors.
- A culture of test & learn – Measuring the effect of a hypothesis on a segment of the network allows us to understand the impact of rolling campaigns out to a broad audience.
These trends mean that advanced analytics aren’t simply a nice-to-have. They’re a key part of being competitive and also building brand loyalty, customer retention and brand advocacy.
Upcoming Actionable Analytics Webinar
Learn detailed best practices in actionable analytics in our joint webinar with TIBCO Spotfire on Thursday, May 22nd.
You will learn:
- The types of analytic skills expected of nearly every marketer in today’s digital and big data world
- Eight key metrics that get to the heart of measuring loyal customers
- How to most effectively present information visually and dive more deeply for greater insights
- Which mathematical models have the greatest impact on success
- How to separate what causes behavior versus just knowing that it correlates
- What is the difference between an actionable segmentation versus a descriptive segmentation
Click on the link to register today for our May 22nd webinar, Marketing Analytics: What You Need to Know Now.