Marketing Analytics & CRO



Marketing Analytics comprises the processes and technologies that enable marketers to evaluate the success of their marketing initiatives by measuring using important business metrics, such as ROI, marketing attribution and overall marketing effectiveness. In other words, it tells you how your marketing programs are really performing.




It is important to state the difference between web analytics and marketing analytics. Web analytics measure things a webmaster cares about, like page load times, page views per visit, and time on site. Marketing analytics, on the other hand, measure business metrics like traffic, leads, and sales, and which events (both on and off your website) influence whether leads become customers. Marketing analytics includes data not only from your website, but also from other sources like email, social media, and even offline events. Marketing analytics are also usually people-centric, featuring the prospect, lead, or customer as the unit of focus, whereas web analytics usually regard the page view as the unit of focus in its reports. Marketing analytics gathers data from across all marketing channels and consolidates it into a common marketing view. From this common view, you can extract analytical results that can provide invaluable assistance in driving your marketing efforts forward. As businesses have expanded into new marketing categories, new technologies have been adopted to support them. Because each new technology was typically deployed in isolation, the result for many businesses is a disparate collection of disconnected data environments. Consequently, marketers often make decisions based on data from individual channels (website metrics, for example), not taking into account the entire marketing picture. Social media data alone is not enough. Web analytics data alone is not enough. And tools that look at just a snapshot in time for a single channel are woefully inadequate. Marketing analytics, by contrast, considers all marketing efforts across all channels over a span of time – which is essential for sound decision making and effective, efficient program execution. Marketing analytics can lead to better lead nurturing and management, which leads to more revenue and greater profitability. By more effectively managing leads and being able to tie those leads to sales – which is known as closed-loop marketing analytics – you can see which specific marketing initiatives are contributing to your bottom line. Marketing Analytics activities typically comprise both analytics and data engineering.

Analytics & Data Engineering Activities

The coordinating and creating of effective strategies to collect data
The analysis of information
Research
Implementation of analytics solutions
Visualisation & Reporting
Optimisation & Attribution
Predictive Modelling
Data mining and wharehousing
Data integration
Data cleansing and management
Data Quality Analysis
Conversion optimisation
Measure of customer acquisition

Conversion Optimisation



In simple terms, conversion rate optimisation (CRO) or conversion optimisation is the process of finding out why your website visitors are not taking the desired action(s) and fixing those reasons, or issues, to achieve a higher conversion rate.

Online conversion rate optimisation was born out of the need of e-commerce marketers to improve their website's performance.

As competition grows on the web, website analysis tools and an awareness of website usability has prompted internet marketers to produce measurables for their tactics and improve their website's user experience.Today many tools enabled internet marketers to experiment with website design and content variations to determine which layouts, copy text, offers, and images perform best.

Today optimisation and conversion are key aspects of many digital marketing campaigns and now generally considered to be crucial to a business’s overall digital marketing strategy.Conversion rate optimisation shares many principles with direct response – a marketing approach that emphasises tracking, testing, and on-going improvement. Conversion rate optimisation, practice A/B split-testing, response tracking, and audience testing to optimise mail, radio, and print campaigns.

Conversion rate optimisation seeks to increase the percentage of website visitors that take a specific action (often submitting a web form, making a purchase, signing up for a trial, etc.) by methodically testing alternate versions of a page or process. In doing so, businesses are able to generate more leads or sales without investing more money on website traffic, hence increasing their marketing return on investment and overall profitability. A conversion rate is defined as the percentage of visitors who complete a goal, as set by the site owner. Some test methods, such as split testing or A/B testing, enable one to monitor which headlines, copy, images, social proof elements, and content help convert visitors into customers.

Before you start your optimisation program, have an analytics engine in place. Analytics is what tells you why visitors aren’t converting. Having analytics integrated with your testing engine is important for post-test analysis and learning. Know your conversion funnel flow.

CRO Activities



  • Data collection and processing - research tracking metrics and identifying what parts of the conversion funnel need fixing
  • Forming hypothesis based on observation and deduction
  • Planning & prioritising - setting business goals such as maximisation of conversions, revenues, profits etc
  • Building and deploying mathematical models
  • Testing, learning and analysis.


Each of the specialists listed promote a high degree of competency in CRO and can be contacted for preliminary discussions directly through utilising the contact details provided on their profile template.If you require additional assistance with your selection or a more in depth search then please complete and send on your brief as per our home page and we will get back to your shortly.

Most of the providers listed in this category are independently owned specialist analytics and data engineering businesses.


Each of the specialists listed promote a high degree of competency in marketing analytics and can be contacted for preliminary discussions directly through utilising the contact details provided on their profile template.If you require additional assistance with your selection or a more in depth search then please complete and send on your brief as per our home page and we will get back to your shortly.


Before you proceed to search?


 

At Marketing Search we recommend you always take the time to think critically about what you plan to do up-front and be very clear about your goals and outcomes before approaching any provider.

By doing this you will avoid many of those unexpected and un-welcomed bumps and obstacles that arise down the track which inevitably cause cost blow outs and time delays in bringing your project to market.






That said please take a moment to firstly reflect on our Checklist No 1 : Search & Selection of Marketing Service Providers.

Having done some basic research you should now be well positioned to start your search for that ideal partner with and have a better sense of the competencies and attributes required to meet your brief.

We recommend a short listing up to 3 providers be undertaken in your initial search with the aim to further qualify them down to 2. Ask those 2 to then to submit their pitch and proposal in person for your final decision on selection.

Good luck.


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