Building a Competitive Edge through Customer-Centric Reporting
When looking at the tidal wave of data available to you as a marketer, it is critical that you stay focused on what matters: your customer. Even some of the best marketers still use reporting focused on legacy views of media channels. To enable a customer-centric view, marketers need to connect their digital analytics data to their CRM (customer data) to ensure that the customer is the top hierarchy and priority of all reporting and analytics. This forces a shift in marketing goals and the questions that teams are asking of their data:
- Instead of asking, How much traffic did paid social drive last week?, ask, Which media had the most effective engagement with Customer-Segment A?
- Instead of channel AOV, look at the predicted customer value of your newly acquired customers and sources of highest-value acquisitions.
- Instead of asking, Why is my conversion rate down with Paid Search Traffic? ask, Which of my customer segments are responding best to this week’s marketing focus?
While the concept isn’t earth-shattering, many of the top marketing measurement players are NOT doing this today, likely due to historical focus on media channel. With current lack of adoption, there exists a huge opportunity to get ahead in the marketplace by shifting from media channel silos to holistic marketing measurement with the customer at the center.
This is obviously not as simple as a rework of your measurement tool; it takes time and commitment from your team to shift to a customer-centric mindset. Step back from the day-to-day and think about the customer you are trying to engage. Be open to applying a critical eye and realize that it will likely take some larger change management to get away from historical norms of looking at media performance. Check out Ovative’s Marketing Analytics Platform to see how this can come to life.
Ovative is a digital-first media and measurement firm seeking to transform the measure of marketing success. At Ovative, we help brands move the needle. We are curious. We value your brand. We want to see you succeed. Connect with us to learn more!