Two questions marketers are asking today, ‘How do I measure success of my digital campaigns & how can this data help me take decisions?’ Having spent years tracking ROI data on mass campaigns and CRM initiatives, how to measure effectiveness is the real issue. In fact across digital conferences, brand summits, workshops and webinars, marketing executives are getting in a huddle and discussing it. And most of the answers are pointing towards data analytics.
Everything is moving toward data: website traffic, mobile data, performance data, campaign data, product data, and even data about how we track our data.
Thanks to digital, marketing is in the midst of navigating through the most significant developments it has ever encountered. The dramatic expansion of accessible consumer data represents an enormous opportunity for marketers to gain unprecedented insights about consumer behaviour. It also comes with major challenges defined by questions about how best to access, analyse, optimize and apply insights from big data.
The ability to manage successful campaigns will require strong data analysis human and technological capabilities. As your competition becomes more sophisticated, your ability to keep up will be directly helped or hindered by your data capabilities. The insights derived from big data analytics will drive future decisions in accurately delivering the right message to the right person at the right time for the right price.
Today’s customers have instant access to product, price and quality comparisons from a steadily expanding range of channels. This newly empowered consumer audience is also highly mobile with a proliferation of multiple devices enabling uninterrupted access to information and continuous real-time communication.
The growth in social media platforms has enabled individuals to express themselves in every conceivable way and generates an immense volume of data. Consumers by the tens of millions are speaking both teach other and directly to businesses about what they want and how they feel about it. Success in marketing means tuning in to what consumers are saying, and employing real-time messaging methods that let them know you’ve been listening. If you don’t, your competition will.
Successful marketers will have to use this data and engage with consumers with consistent relevant messaging across diverse channels in real time. Marketers must remain connected to their audiences no matter where they go or what device they use. Tablets and smartphones combine social, local and mobile technologies enabling consumers to zero-in on precise local information about products and services. It’s another opportunity and challenge for marketing to fulfil growing customer centricity expectations and ‘be there’ with real time, personally relevant messaging.
Marketing has entered a mandatory transition period. This is a time when migrating away from the traditional large demographic approaches toward more granular, data-driven, highly targeted campaigns becomes a matter of survival, not a matter of choice.