Best-in-Class Marketing Analytics: Four Foundational Elements
So what does a best-in-class marketing organization look like vis-à-vis analytics? What are the key areas it needs to get right?
As with many failed technology implementations of the past, a lot of marketing organizations today think that they are on the path to greater insight because they now have analytics technology.
The reality is that it takes a significant investment in four foundational areas to ensure analytics success:
A superior analytics strategy that is well connected to the business strategyInvestment in the people that drive and use analyticsThe alignment of processes and standards across Marketing and SalesThe use of world-class technology
What is the opportunity in Big Data for Marketing? In this post I suggest it is all about knowing which questions to ask...
I believe every marketing plan should start with an analysis of your companies “share of conversations.” This shows you not only how well known your company is in your solution space, but also how likely your customers are to act on that awareness (RT, comment and ultimately convert to a lead and a customer).
My own 4-step plan to Big Data Marketing Insights:
Define your customers’ top keywords and topics through search analysis. Starting with a simple look at Google Trends.Social analytics to show what % of social conversations include mention of your brand. This is where the data gets really big.Insights from your Website analytics will help you understand which keywords and referring domains drive conversions.Finally, combine these 3 massive big data sets to help to make decisions on marketing plans, tactics and budget.
Enterprise Business Intelligence And Analytics Startup EdgeSpring Raises $11M ... TechCrunch The EdgeSpring platform accelerates the building of analytics applications that parse business intelligence data like sales, financials and more.
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