Marketing Analytics 101: Show Me the Money!

show me the money 1

When I wrote an article for Talent Zoo last month, I wrote about leveraging automation and integration to maximize and leverage your online strategies, as well as the companies helping businesses to execute those marketing automation opportunities.

A few minutes ago, I was sent an email from Andrew Janis of Evantage Consulting on a new Whitepaper they’ve released and the results are quite intriguing. (Some of the synopsis below was written by Andrew in the email he sent… I wouldn’t have been able to word it as well!)

The State of Marketing Analytics

This Whitepaper summarizes results of a survey conducted by Evantage Consulting to uncover the impact of analytics on marketing teams and organizations as a whole.

The paper reports that while companies are devoting more time and resources to analytics, most still face the challenge of turning data into action. Though the survey was targeted in the Twin Cities, I believe the results will probably be consistent throughout the industry.

  • Most marketers are investing more in analytics and resources, but the shift to data-driven marketing is still not a reality in most organizations.
  • Marketing dollars are beginning to shift toward more measurable media.
  • There is a group of top performers who have taken data-driven marketing to heart.
  • Management is key in making the transition to data-driven marketing, and is slow to get on board.

In short, it’s an optimistic view of marketing… companies are beginning to really leverage technology, measure the results, and adjust accordingly. They are starting to get it! Mass marketing is dead, the rise of targeted marketing on the web is finally gaining momentum.

Show me the money!

Direct and database marketers have been screaming this for years… it reminds me of Cuba Gooding in Jerry McGuire making him scream, “Show me the money!”. Every company’s president should be yelling the same thing to their marketing department.

This is good news for consumers as well as marketers. When consumers are exposed to advertising that’s targeted and genuinely valuable, they respond. When marketers do the right thing, they recognize that the effort pays off. If you’re not setting conversion goals, monitoring the results and making adjustments, you’re simply throwing darts in the dark.

You can download the Whitepaper on Marketing Analytics from Evantage. From the company’s web site: Since 1999, Evantage Consulting has helped e-businesses succeed by aligning their marketing, operations and IT components ? for maximum efficiencies and effectiveness.

One comment

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    I agree everything is becoming more and more targeted. As I am starting my own business and looking into ad options I find myself constantly monitoring data. What ads get clicks which ones don’t. Then trying to figure out why and replace the ones that don’t get clicked with ones I think will get clicked.

    It’s all based around who your target market is and what they actually want to see. People in general hate advertising but I feel that just because they have been bombarded with un-targeted ads for so long. If you put stuff in front of them that they can find useful they will see your ads as adding to the content available on your site.

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