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It’s All About Analytics

November 11, 2009

Analytics is at the top of everyone’s mind in the marketing industry today.  At the NRF show in January 2009, the analytics breakout session was offered in a relatively small space and drew a standing-room-only crowd.  The same thing happened last week at the Internet Summit in Raleigh.  With increasing pressure on marketing organizations to increase revenue and customer loyalty with fewer people and lower budgets, we are all focusing on analytics – we want to know what is reaching and what is resonating with our target customers.

The analytics panel at the Internet Summit gave us a chance to hear an email marketer,  a newspaper executive, an online response marketing executive and VueLogic’s CEO, Ron Garmon, discuss where analytics are focused today and where we are going.   The participants agreed that companies struggle with multiple non-standard data sources and a lack of analytics expertise in leveraging data today, but everyone believed that the focus on analytics will be driven by the need to target and personalize customer communications.  (Twitter comments on panel discussion – #isum09 analytics)

Gartner released their 2010 Top Strategic Technology list at their October Symposium (http://www.gartner.com/it/page.jsp?id=1210613). Cloud Computing and Advanced Analytics topped the list. Comparing the 2009 list with 2010, it’s interesting that business intelligence dropped in favor of analytics.  There is a great graphic showing the year to year change at http://blogs.zdnet.com/BTL/?p=26191.  The standing-room-only interest in analytics at conferences is reflective of Advanced Analytics move to the top of the 2010 list.

Web analytics have matured and offer insight into site traffic and user behavior; they allow us to optimize search results and leverage recommendation engines to guide visitors through the site. Focusing offers and messaging to the right consumer at the right time involves understanding customer transactions – the analysis of actual consumer value.

Analyzing customer data can help increase or maintain loyalty, create a return visit or convert the current interaction into a transaction.    Whether it’s increasing your email marketing ROI or targeting offers and messaging – it’s all about analytics.

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