Customers expect fully personalized brand experiences every time or they’ll walk. But with marketing analytics, you can figure out what they want before they do, deliver it, and cement their loyalty. Join our latest VB Live event to learn what data to collect, the KPIs to watch, and how to turn customer data into bottom-line results.
Marketers are faced with over 2,000 channels and billions of bytes of data — and those numbers are just supposed to go up, as technology evolves and more and more customers get connected. And with all that data, you’d suppose that pure and perfect personalization and customer satisfaction should be a cinch — and yet why can’t you nail it?
“Most companies are not patient enough to give themselves enough time to actually listen to what the data is telling them,” says Kelsey Cohen, director of marketing at farm management software startup FarmLogs. “A lot of people just want to jump in and start tracking things right off the bat, but I think to do it effectively, you have to back out of that a little bit, and hone in on the high-impact and high-value points on the path from lead to becoming a customer.”
To do that, you actually have to start with a broad collection of customer data, he says. Cohen uses a combination of product engagement plus marketing channel engagement, which can be everything from social media, to blog interactions, email interactions, and website interactions.
From there, you build out a user journey timeline — what are customers doing that’s different from what free users have done. They draft what a journey from free to customership looks like, and then they can craft a strategy that nurtures people through specific milestones along that journey.
“The biggest mistake I’ve seen is that people want to just jump in and make up a journey,” he warns.
Once you have a good understanding of the major conversions and milestones along the funnel, from converting a lead to a customer, or a website visitor to a lead, and so on, then you can start to hone in on micro-conversions. “That’s where you can really start to optimize quickly, and start to capitalize on how fast digital marketing actually is, and it can give you a lot of valuable information,” he says.
A/B testing for messaging, imagery, and optimization from a web purchase funnel, using purely digital ads,and offers up a lot of micro-conversion information, but having the big picture mapped out lets you know where you’re really going to want to spend your time, and what’s going to have the biggest impact when you start digging into the micro-conversions.
“I think a lot of people waste their time messing around with the color of a button, and it’s kinda fun, but it’s probably not going to be super impactful across your whole customer journey and along that decision funnel,” Cohen says.
But the big picture can also be overwhelming, Cohen notes. It’s Facebook, and Twitter, and email, and blog posts, and double click, and search, and websites, and apps, and physical and retail stores, and a whole host of other channels where your customers are touching your brand — a galaxy of opportunity, and all of it counts, he says.
For the most part, the marketing industry as a whole has gotten really, really good at everything from tracking to measuring, to calculating ROI and the impact of web visits to leads, and more, but trying to bring all that information together across all those channels is becoming really cumbersome, he explains.
“Marketers are starting to realize that they have to do more than just look at their email, Facebook, Google Analytics, and Salesforce data,” Cohen says. “They have to be able to bring it all together to be able to really understand what’s impactful, what’s making a difference, what’s working and what’s not. You can’t just do it in one channel anymore.”
In the new realm of marketing, and behavioral marketing, and personalization at scale, it’s not just about reporting on metrics — you need to take all that cross-channel data and make it actionable. Getting it right means creating an engaged and loyal customer with deep pockets. To learn how to make it happen, don’t miss this interactive VB Live event.
You’ll hear about:
- Generating meaningful AND actionable data insights from marketing analytics
- The role of analytics in creating an engaged, loyal, and high-spending customer
- The new segmentation: how analytics drives a more personalized customer experience
- How to prioritize investments in marketing analytics
- Helen Pan, Director of Marketing, Boxed
- Kelsey Cohen, Director of Marketing, FarmLogs
- Stewart Rogers, Director of Marketing Technology, VB
- Rachael Brownell, Moderator, VB