As sales processes change with the economic conditions, marketing has been expected to become more responsive to return on investment. Obviously collecting customer data is not enough; marketing must contribute to the analytical process. Unfortunately, data is collected in multiple sources such as internal databases and external social networks. How can marketing effectively and successfully add value and dollars to the bottom line with the data available within the organization?
In the past, marketing has used sales data and customer behavior to make decisions regarding future marketing initiatives. Although customer data is important, they are already your customer. It is imperative to understand who is interested in your company and what they are saying about you, your brand, and your place in the market. It is equally imperative to know what your competitors are doing and how to get ahead of them.
Information from social networks bring in another perspective on the marketplace. The problem is, social networks are not easy to work with. If you cannot work with it, it has no value. For this reason, marketers need to apply tools that will allow them to look at all aspects of the data. This is where Web Analytics comes in.
Web analytics are beginning to make inroads in the business intelligence arena. Now organizations can capture their presence in the marketplace—as measured against their competitors—and have the ability to compare difference sources in the same place. The beauty of this is that is provides the end user a more granular view of the impact of a specific activity. The ability to customize marketing strategies is based on past performance. As a result there will be improvement in targeting audiences and providing the right messaging that will increase the bottom line.
Web analytics delivers tangible data information that is changing the approach to marketing.
Choose a web analytics tool
There are many free web analytics tools available but keep in mind that paid analytics users are 2.9 times more satisfied than free web analytics users. This is due to the fact that free analytic users experience difficulties or confusion while using the tool. Paid web analytics take many fee-based analytic tools and combines them, giving the end user a way to compare results.
Provide a KPI Dashboard to the Relevant Stakeholders
Although the marketing staff is responsible for the monitoring of the marketing activities, senior management and those responsible for ROI will more likely be supportive of the process. Visibility keeps everyone on the same page and encourages participation in decision making and changes.
Create and Plan of Implementation and Forward Marketing Strategy
The execution of a plan will not take place unless it is documented first. Following a plan determines measurement guidelines that support marketing activities. Understanding what areas of the organization have interest in marketing puts goals within the structure of the tool as well as the path of the strategy. The following capabilities should be part of the strategy:
• Key Marketing Metrics
• Marketing Effectiveness
• Monitoring Web content
• Marketing Message Customization
• What if (Predictive analysis)
• Sentiment analysis (positive / negative / neutral)
The contribution of marketing activities through the use of web analytics is more than just a tool to review web popularity. Web analytics gives evidence of success. It also contributes to the organizational bottom line by the incremental sales encouraged by well-run campaigns.
By Cindy Balon Harder, from: http://visualdatagroup.com/2012/04/05/web-analytics-produces-campaign-awareness-and-incremental-sales/
Throughout her 20+ year career, Cindy Balon Harder has had extensive experience in Marketing, Wholesale & Distribution, Supply Chain, and in developing Sales and Operations Planning processes. She is particularly familiar with the Consumer Products industry where she has participated in all aspects of the supply chain, from demand planning to warehouse distribution. Cindy is a Principal at Visual Data Group. Her main focus is Marketing, PR and Social Media, and Supply Chain consulting. See Cindy’s articles on EPM Channel here.