No marketing department has an unlimited budget. The money question for us (pun intended) is “How can we best allocate budget to convert and keep the highest-value customers?” Marketing analytics is rapidly evolving to answer the money questions and help marketing leadership make better investments.
Over the last few years, analytics has grown in sophistication in a lot of ways. On the customer side, it’s changing in terms of how much data we can capture on our customers, our ability to connect them across devices and channels and visibility into what drives them through the funnel.
From an internal standpoint, marketing analytics is evolving to require less technical heavy lifting: Where we used to rely on engineering or IT to add tags that could take up to six months, depending on workload, now there are new tools that, once implemented, allow marketing teams to facilitate changes unassisted.
Let’s break down the top areas of focus for analytics. I’m going to walk through what they are, how you can benefit from them and what phase one and two of implementation should look like:
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About The Author
Scott Rayden is the Chief Revenue Officer for 3Q Digital, a Harte Hanks company, and is responsible for leading marketing, sales, and the overall revenue growth of 3Q Digital nationwide. Scott spent the past 7.5 years as the Founder and President of iSearch Media, a leading digital marketing agency focused on consumer behavior, search marketing, analytics, and data visualization. iSearch Media was acquired by 3Q Digital in 2014. Scott brings 14 years of experience in digital marketing, management, M&A, and business development to 3Q Digital. Prior to founding iSearch Media in 2006, Scott worked at Quinstreet and LeadClick Media (acquired by First Advantage for $150MM), two of the largest digital marketing agencies in the country