How to walk the data and measurement tightrope in a numbers-driven marketing landscape
Gobs of data fuel every aspect of marketing these days. Without all kinds of fresh data at your disposal, your brand is at risk. You’ll make wrong decisions, lose the competitive edge, and watch your competitors zip past you. However, because of the emergence of a plethora of technology tools, having data is no longer a challenge.
Walking the data tightrope
According to recent research by Chief Martech, in 2011 there were only 150 recorded marketing technology solutions. By 2018 that number had shot to 6,829. There’s plenty of first-party or third-party data to play with. The real challenge is synthesizing and simplifying the information and making sure it suits your business goals.
Here are three pressing everyday marketing challenges you face when measuring data in a complex marketing context.
Myriad advertising campaigns to track
Advertising in an omnichannel world can be tricky and costly.
From banner ads to paid traffic, from paid traffic to landing pages, from landing pages to native ads, your advertising bill piles up quickly.
With so much invested in advertising, it’s crucial to know your precious advertising dollars aren’t going down the drain.
Marketing moves fast these days. The sooner you can calculate your return on investment (ROI) the better for you:
- You quickly identify campaigns that are flying and those that are a flop so you double down on the profitable ones and drop those that aren’t performing.
- You improve efficiency and increase revenue since you’ll only focus on what’s working for your brand.
- You significantly increase your chances of success because you won’t be relying on guesswork in your strategy but real and fresh numbers.
- You’ll be able to fine-tune your strategy in real time as you respond to what your customers are doing.
Innumerable data points to consider
To run a successful marketing campaign today you must track countless numbers from endless channels.
You’ve got to keep tabs on…
- Web traffic numbers.
- Desktops and mobile devices stats.
- Landing pages conversion rates.
- Advertising campaign figures.
- Funnel records from top to bottom.
- Social media data.
- Apps user action information.
It’s difficult to keep track of it all.
Many brands try to solve the problem by continually adding to their marketing technology stack at a huge cost. Not only is increasing your martech tools expensive, but it also leads to duplication of functions.
Look for comprehensive analytics software that covers all the bases. This way you’ll get all your results from a single dashboard. Or, cull your key performance indicators (KPIs) to a few critical ones and get a tool that measures them well.
Tracking user behavior across devices
Your customers wired up and on the move.
Not only that. They are sophisticated and hard to please.
They demand a personalized cross-device shopping experience that takes into account their minutest needs or next level personalization as Pure360 calls it. Clever brands have to find ways to get a bird’s-eye view of what their customers are doing on different devices. Armed with this information you can then reverse engineer and come up with a unified omnichannel buyer journey that suits your consumers.
This ability to hyper-target will hike your profits.
A tool that cuts through all the data noise
To tackle some of these problems Meta Trader platform developers developed Finteza.
Finteza is an advanced comprehensive analytics tool that tracks and analyzes traffic, funnels, conversions, landing pages, and advertising campaigns.
Importantly, it allows you to see promptly if your advertising expenditure is being put to good use.
“One of our customers’ biggest challenges was the unavailability of real conversion data related to their advertising investments,” said Farid Shamsutdinov, lead developer at Finteza. “That is why we created very detailed funnels and introduced comprehensive end-to-end analytics. Now, we receive a great deal of positive feedback from our clients, who appreciate the ability to calculate ROI and LTV and the possibility to accurately determine the efficiency of their advertising up to separate banner ads.”
The tool is free for now.
All you have to do is to register and track all your traffic and campaigns right away without spending a dime.
Qhubekani Nyathi, Founder and CEO of Wholesome Commerce
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