Christophe Kuhner[Posted by , Senior Prod­uct Mar­ket­ing Man­ager, Neolane]

Cus­tomers are increas­ingly demand­ing more per­son­al­ized inter­ac­tions with brands, forc­ing mar­keters to adopt cross-channel efforts that lever­age cus­tomer data to craft rel­e­vant, timely mes­sages. How­ever, the lat­est CMO Insights Report indi­cates, “Nearly four in 10 CMOs say they do not have the right peo­ple, tools, and resources to meet their mar­ket­ing objec­tives,” and “con­sumers’ expec­ta­tions for rel­e­vant expe­ri­ences are hav­ing the longest-term impact on mar­ket­ing strat­egy (65%).”

Mar­ket­ing ana­lyt­ics allows mar­keters to glean insight from cus­tomer inter­ac­tions across mul­ti­ple chan­nels in order to bet­ter under­stand cus­tomer expec­ta­tions. With­out this cus­tomer infor­ma­tion, mar­keters are Marketing Analyticsblindly deliv­er­ing mes­sages that likely don’t speak to the inter­est of their cus­tomers. Accord­ing to the CMO data, 40 per­cent of mar­ket­ing exec­u­tives will increase bud­get spend on web ana­lyt­ics and 39 per­cent will spend more on mar­ket­ing ana­lyt­ics in 2013.

Let’s take a look at exactly what those who aren’t incor­po­rat­ing mar­ket­ing ana­lyt­ics into their cam­paigns might be miss­ing out on this year and beyond:

Lever­ag­ing Data from Social

It’s no secret that cus­tomers are will­ing to express them­selves through social chan­nels, and this will­ing­ness to share inter­ests and behav­ior via social can offer a great deal of value to mar­keters. Effec­tive mar­ket­ing ana­lyt­ics will have the capac­ity to col­lect social inter­ac­tions and behav­ior that can be added to an exist­ing data­base. In fact, research shows 53% of sur­vey mar­keters plan to make greater use of real-time data in their 2013 mar­ket­ing cam­paigns, indi­cat­ing there is some real value to mak­ing use of social data.

Effect on Mobile

By the end of 2013, mobile devices will out­num­ber peo­ple on the planet. Mobile Inter­net usage is also expected to over­take desk­top usage as early as 2014. What this indi­cates for mar­keters is that it’s time to fully under­stand the mobile mar­ket and learn what devices, apps, sites, are being used at a cer­tain time or loca­tion in order to get the most from mobile mar­ket­ing efforts. How­ever, with­out mar­ket­ing ana­lyt­ics, these insights will go unre­al­ized, bud­gets can be wasted, and oppor­tu­ni­ties will be missed.

Once a pre­ferred cus­tomer mobile device has been detected by the mar­keter, it’s then time to lever­age all data (includ­ing geo-location) to deliver timely mes­sages that will have a bet­ter oppor­tu­nity to con­vert. While these cam­paigns are being exe­cuted, mar­ket­ing ana­lyt­ics will allow the track­ing of their suc­cess, so the mar­keter can then move for­ward with the cam­paign or take a dif­fer­ent route.

Tying All Ana­lyt­ics Together to Deliver Tar­geted Messages

Mar­ket­ing ana­lyt­ics strate­gies can­not be used in siloes. Data gath­ered through social, mobile, email, direct mail, etc. needs to be brought together to pro­vide a true under­stand­ing of the cus­tomer or prospect, so mes­sages can be cre­ated through appro­pri­ate chan­nels at the right times. Oth­er­wise, all the mar­keter is left with is a mess of data that doesn’t pro­vide the cross-channel insights needed in today’s mar­ket­ing world.

Econ­sul­tancy research proves ana­lyt­i­cal data’s pos­i­tive effects on mar­ket­ing efforts. Mar­keters reported the fol­low­ing data has high impact on engage­ment rates:

  • Social graph data: 88%
  • Behav­ior on your web prop­er­ties: 74%
  • Pur­chase his­tory: 74%
  • User pref­er­ences (explicit cus­tomer pref­er­ences, inter­ests etc.): 72%
  • Per­son­al­ized data (includ­ing name, gen­der, loca­tion): 71%
  • Browser his­tory: 55%

Higher engage­ment rates gen­er­ally indi­cate cus­tomers are pleased with the cam­paigns being exe­cuted by mar­keters. Each of the pieces of data above couldn’t be fully ana­lyzed and used for suc­cess with­out mar­ket­ing analytics.

More Ana­lyt­ics Expertise

As mar­keters become famil­iar with ana­lyt­ics and the soft­ware being used to gather and inter­pret data, fewer resources will be needed to cre­ate effi­cient cam­paigns across chan­nels. More ana­lyt­i­cal exper­tise will not only ben­e­fit he mar­keter as an indi­vid­ual, but could save the mar­ket­ing depart­ment money by not hav­ing to hire a data specialist.

Mar­ket­ing ana­lyt­ics is becom­ing a neces­sity for mar­ket­ing depart­ments. There are many dif­fer­ent chan­nels cus­tomers and prospects use to inter­act with brands, spawn­ing valu­able cus­tomer data by the sec­ond. What sep­a­rates the most suc­cess­ful mar­keters from the pack is hav­ing the abil­ity to gather data across all chan­nels in a way that can cre­ate a sin­gle cus­tomer pro­file; such a pro­file can then be used to deter­mine the right mes­sage to send through a customer’s pre­ferred channel.

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