In the first of a series looking at trends in analytics, The Drum speaks to a cross-section of the industry, asking them to share their insights into what brands should be focusing on in order to increase conversions. We asked:
What are the key things brands must focus on to ensure quality analytics in a multichannel, multi-device environment that can ultimately lead to more conversions?
Carl Fernandes, head of analytics & conversion, iProspect
A web analytics implementation that is comprehensive is fundamental to increasing conversions. Keeping abreast of new innovations such as Google Analytics’ “Universal Analytics” is also important to glean useful insights in a multi-device world. Brands need to become more agile and cannot be afraid to test and learn based on insights gained from web analytics.
Conrad Bennett, VP of Technical Services EMEA, Webtrends
The key is to identify the business objectives and KPIs for the digital channel(s). These drive the metrics and reports required to support them, and thus the data which needs to be collected. While it can be tempting to collect absolutely everything, this is a temptation best avoided as you will spend more time hunting for the things which are truly relevant.
Analytics, combined with segmentation and testing can be used to make decisions about almost anything - optimising the layout of a websites, which products to sell and cross-sell, how to create the best user experience etc. It also provides brands with the information needed to remarket to a visitor who has spent a certain amount of time on the site, but then left without converting into a paying customer. Nobody gets this stuff right the first time around. With digital analytics the learning curve is a lot steeper and quicker, but more importantly cheaper.
Michael Plimsoll, industry marketing director, Adobe
Firstly, the right technology. Most brands will already have existing data in multiple places and should look to use the right technology that can bring these together to create a single view of the customer. The right technology should also be flexible enough to allow new data sets to be added quickly and easily, and for the data to be processed, analysed and actioned in real time. The second focus area should be on the right data, or smart data. As we know, there is lots of data available, and smart marketers will ensure they are not necessarily using all of the data but the right data for the decision at hand.
Matt Camps, head of digital strategy, The Institute of Direct and Digital Marketing
Now that we operate across a plethora of devices and technologies, it’s imperative to understand the relationship between these technologies and their effect on consumer behaviour – and ultimately analytics.
Whilst we have to take a holistic view of conversion, we also need to be detail orientated. It’s not enough to critically analyse the value of each channel separately, but rather the interactions and changes in behaviour along the funnel and how this affects conversion accordingly.
Mike Shaw, head of media, comScore UK
Many brands find themselves trapped by rigid analytics platforms – those that are cube based and lacking flexibility – or find they are forced to work with different analytics providers to get all of the insights they need to effectively run their businesses. What organisations need is a technology that recognises the explosion of multi-platform usage and is comfortable managing the data that comes with it as it continues to grow in volume, complexity and velocity. It’s crucial that businesses are unafraid to move away from legacy systems and instead adopt a platform that is built for scaling billions of data points in a faster and easier way than existing platforms.