As we’ve discussed, data and analytics are key to proving your marketing ROI to the rest of your business. In order to demonstrate your contributions to your company as a whole, it’s necessary to connect your efforts to the growth of the company’s bottom line.
However, data and analytics are useful for many other things as well. Keeping them at the center of your marketing operations allows your department to stay accountable to its overall goals—as well as the goals of the company—that extend far beyond revenue. Today, we’ll discuss four ways marketers can use data and analytics to keep their operations accountable.
Data benchmarks are key to keeping your team moving at a steady pace towards your goals. Developing quantitative benchmarks that everyone has to meet allows you to measure and track your performance to ensure that all operations are moving forward at a good speed. This information also helps you prioritize your operations and identify where things are getting held up, giving you the opportunity to revamp your activity in order to maximize productivity.
While data and analytics ensure that your team is on track, they also help managers make sure they’re managing so that all marketing operations are aligning toward department and overall company goals. Aligning your operations around data is the easiest way to ensure your efforts are on target—and will help you prove your ROI.
Not only do data and analytics help to demonstrate the successes of your day-to-day operations, but they help to uncover new ideas to further improve your ROI. By pinpointing a business objective that’s been labeled a priority by the C-Suite, you can use customer data and analytics to identify related opportunities that can be acted on to achieve that target.
Customers don’t dwell in a single channel: they interact with your marketing across the web, social, mobile, email and more. Data and analytics keep your marketing accountable not just on each channel, but across every platform. By identifying KPIs related to cross-channel impact like cost per acquisition, conversion and customer value, you can better understand your marketing and gain a multidimensional view of how your marketing aligns with company and department goals.
Let us know: how do you use data and analytics to keep your marketing accountable to the rest of the company?
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