Installing tools and collecting data won’t cut it. Hiring expensive analysts isn’t enough. Your organization must embrace evidenced-based decision making to truly leverage the power of analytics. Change agents who have helped their companies turn this corner are on hand to help you do the same. Learn how to get your firm to grasp data as a competitive edge.
We’ve used web analytics, search engine optimization, email marketing analytics, social media metrics, and more to understand and improve the digital interaction between customer and company. The legwork of data collection, preparation, integration, curation and analysis has created a new profession and the Digital Analytics Association. Achieve business outcomes by keeping a close watch on every mouse movement. Optimize a landing page or an entire business model.
Understanding marketplaces and customer segments has been revitalized by new data collection and projection methods. Market research is a means of identifying the size of a market, the competition, the perceived need for the product and the alternatives people have. Now, we’re far beyond shopping mall clipboards and random digit dialing and recognize the Customer Experience as the starting point. Usability, the customer journey, and the voice of customer have moved from anecdotal to data-enriched.
Your data scientists may be the drivers of analytics in your organization, but you are the navigator. While they may want to dive deep into the math at Predictive Analytics World, you need to know what they’re up to so you can guide them. Consider this the bridge to data science that will allow for meaningful, productive conversations between research and applied science.
A firm understanding of where the data comes from and how it is being manipulated (see Marketing Science, above) has never been more important. But communicating fruitfully with others about data, building smart, capable teams, and recognizing when data is being misused have become absolutely crucial to your career. Pioneers in digital analytics – with the arrows still in their backs – share lessons learned in traversing the perilous landscape of corporate management.
In the late 1800’s, John Wannamaker famously said, “Half the money I spend on advertising is wasted. The trouble is, I don’t know which half.” John would be delighted by today’s ability to identify which display ad caused the click, which landing page caused the call, and which email closed the sale. Further, he’d be thrilled to see how that same data can automatically adjust advertising spend. The faint hope of true attribution has blossomed into an ecosystem of data-linked technologies that are delivering. Augment your marketing intelligence before another day goes by.
Yes, you can buy traffic and measure the results of your spend, but that only builds the most superficial brand experience. For marketing professionals, getting people to consume your content is all about having good content and having others link to it. Data is the key to knowing which content is working and which links are worth pursuing. With an amount of resources being spent of content creation, knowing how that investment pays off will make you a star.
As profession-changing as the computer in the 1980’s, the Internet in the 1990’s, and mobile in the 2000s, artificial intelligence and machine learning will be driving every customer interaction within five years. Asking if AI or ML are at work with your data will be like asking if you are using spell check. If you are not feeling that this is going to change everything, you haven’t been paying attention. Now is your opportunity to learn what Artificial Intelligence and Machine Learning mean to marketers, where they flourish and where they flunk, and how to make big wins with narrow AI applications, today.
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