Patrick Osinski : startups advisor, all about Social Media, Marketing, Business Dev, SEO, Design, Digital content, Innovation, Apps.
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Monday, November 14, 2016
3 Strategies to Build Up Your Marketing Analytics Credibility
Marketers depend on their analytics to confidently understand and improve the performance of their marketing campaigns. It is crucial that your reports remain accurate as they’re often relied on at every level of your marketing organization. When the analytics team consistently provides high-quality reports that include the most impactful marketing metrics, they will become invaluable to their marketing teams.
These three strategies will help the marketing analytics team build the credibility of their analytics and reporting.
Provide Access to the Raw Data
It’s hard for your stakeholders to rely on your data when they don’t have access to it. Let them dive deeply into the data. Give them an opportunity to digest and verify any results they don’t understand. This doesn’t necessarily mean they want to comb through every row of your data. They may only want to see with their own eyes that the data you’re presenting is accurate. It becomes much easier to trust your results once they see the raw data and validate a few data points.
Here are two easy ways to eliminate barriers to your data:
Provide access to a filtered dataset directly from a data point. If you’re using Excel as your analytics tool, this typically means providing a link to the relevant data tables with easy filtering capabilities. More powerful data visualization tools like Tableau provide end users the ability to view the raw data relevant to a specific data point directly from the visualization.
Provide your end users with access to the raw data with a lookup key they can be used to search a secondary database. A common example of this is to provide the Salesforce Lead ID when aggregating inbound lead data for your team. This allows your team to easily look up each lead directly within the data source to verify your analytics.
Boost Data Integrity With Call Attribution
The data your analytics is built upon has a strong impact on how it is received by your marketing team. It’s critical that your marketing data is consistent and as robust as possible.
Attribution is one area where marketers specifically need to ensure data integrity. Marketers need to account for every conversion and lead, both online and offline, generated by their campaigns. For effective marketing attribution, analytics teams need to employ a call attribution solution to capture leads that convert via a phone call and attribute them back to their proper marketing source. This is a conversion that is often neglected and can create a dangerous blind spot in your marketing data. By attributing every marketing-driven lead back to their source, a big boost is given to data dependability for campaign and ROI analytics.
Employ a Multi-Touch Attribution Model
Gone are the days when marketers can solely rely on single-touch attribution models. The purchase process has become more complex and it now takes an average of 6-8 touches to even generate a viable lead. For this reason, more marketers have been employing multi-touch attribution models to better understand the impact of each channel throughout the customer journey. There are various attribution models you can investigate, but assigning credit to each touch involved in the conversion of a lead allows for more accurate reporting. With multi-touch attribution analytics that your marketing team can rely on, they come one step closer to effectively optimizing each channel for the role it plays in the customer journey.
Your marketing team needs to rely on their analytics and reporting to operate effectively. Providing credible analytics requires transparency into the reporting, attribution for both online and offline channels, and the ability to accurately connect the conversions, leads, and revenue back to their marketing source and every touch point.