The Transformation To Digital Data Analytics
In recent years we have seen the term “digital analytics” replace “web analytics,” which is a signal of the increasing importance of digital data, such as social media metrics, email clicks, and CRM lead scores to name a few. Further proof of the change according in 2012 when the Web Analytics Association changed its name to the Digital Analytics Association. In their announcement of the change they noted digital analysts must knit together data from “multiple sources and channels.”
A Steady Rise In E-Commerce
According to a 2012 report by the U.S. Census Bureau, the growth of e-commerce outpaced that of overall economic activity in 2010, with an increase of more than 16% over the previous year. E-commerce sales totaled $169 billion, representing 4.4% of all retail sales. When the 2014 report is released later this year, the numbers are sure to be even greater. In a world 0f growing digital commerce there is much to gain from having a well-calibrated strategy that leverages digital analytics to measure failure and success. The research firm Forrester has forecasted that U.S. businesses will spend close to $1 billion on analytic software in 2014. In addition, a 2011 report by Forrester noted that 84% of businesses are using web analytic technology.
The Promise Of Digital Data Analytics
“Digital marketing captivates marketers with its promise to drive traffic, engage customers, and enable self-service across devices and channels,” the Forrester report noted. “A side effect of this shift to digital is the premium placed on web intelligence: the collection, measurement, and utilization of multichannel digital data to drive mutually beneficial customer relationships.”
Digital data are the results of behaviors triggered by prospects, leads, and customers. Data analytics measures an compares these behaviors and benchmarks them against each other overtime to highlight correlations and other behavior patterns. So, the question naturally becomes, what triggers behavior in the first place? Enter “Targeting”
How To Target Ideal Customers Using Buyer Personas
In our article, “Using Buyer Persona Card Decks To Improve Lead Quality“, we mention that Adele Revella, founder of Buyer Persona Institute states, “Buyer personas are examples of the real buyers who influence or make decisions about the products, services or solutions you market. They are a tool that builds confidence in strategies to persuade buyers to choose you rather than a competitor or the status quo.”
Understanding each type of buyer personas and what challenges, goals, and interests they have helps Revenue-Driven marketers develop campaigns that are more likely the trigger a responds for your targeted ideal customers. In addition, profit goals can be tied to key performance indicators (KPI’s) allowing both marketers and business owners to track a range of metrics, including page views, sales pipeline, social media engagement, and content triggers.
Of course, measuring data is one thing; understanding and acting upon that data is another thing all together. DIR Incorporated is working on an eBook titled “Definitive Guide To Targeting and Follow-up For Better Revenue” to address this concern.