The new marketing reality is that companies have to develop digital capabilities and improve their analytics maturity. At the end of the day, customers are central to business. Organizations who leverage analytics and testing to understand their customers’ needs and behaviour, and transform their offering accordingly, are fast gaining market share and popularity.
Based on our extensive experience in marketing, strategy, (big) data and advanced analytics we have developed and tested a five steps model to help organisations grow in applying advanced marketing analytics models. This is what we call our Marketing Analytics Maturity Model.
This model helps us to provide you with the expertise to increase the profitability per customer by combining this strategy with our tools and infrastructure.
1. ONLINE MEASUREMENT
Phase 1: Data
In the data phase, data usage is still ad hoc and data is distributed amongst different silo’s across the organisation. First steps are taken in creating a structure that ensures a single source of truth of digital marketing, a measurement framework developed and marketing starts the move from gut feeling to data driven decision making.
Phase 2: Information
In this phase marketing campaigns are using a central marketing data warehouse to monitor performance and take actions on daily updated reports. Marketing teams as well as general management are aware of the competitive possibilities of data insights.
Phase 3: Knowledge
Moving from Information to Knowledge, there is a clear online marketing approach with systematic channel, audience and message testing. A measurement-first approach is implemented where every marketing action is evaluated on its merits. To increasingly understand your data, roles in the online team are explicitly defined.
Phase 4: Insights
In this phase, online marketing has moved from historical data to predictive analysis and focus shifted from shifted from ROI to Customer Lifetime Value. A digital strategy drives the organisation in which campaigns are proactively optimized and the use of data insights has paid of in increased profitability.
Phase 5: Wisdom
In this most advanced stage of online analytics maturity, your organisation is a winning analytics competitor. Profitability is tied to Customer Lifetime Value and your customer dialogue is one-on-one. Moving from insights to wisdom, your targeting is done through artificial intelligence. Analytics provide you a competitive edge.