Why call tracking helps improve PPC lead generation account performance

[ad_1]

Columnist Jeff Baum explains that when properly set up, call tracking can help you both measure the value of your PPC campaigns and optimize them for better ROI.

Please visit Marketing Land for the full article.



[ad_2]

Source link

How Analytics Is Transforming Customer Loyalty Programs

[ad_1]

Customer loyalty programs are crucial.

The goal of loyalty initiatives is to engage, not pander more products to frequent buyers.

But how do you determine if your loyalty program is working well?

Use data to steer your customer loyalty program in the right direction.

McKinsey found that “executive teams that make extensive use of customer data analytics across all business decisions see a 126% profit improvement over companies that don’t.”

“By instituting a loyalty program, you not only improve customer appreciation of your business, but you also increase the chances that existing clients will share this joy with those close to them,” says Steve Olenski, a senior creative content strategist at Oracle Responsys.

Upgrade your loyalty program. Let’s explore how.

Focusing on Retention

One primary mission of loyalty programs is to increase customer retention. You want buyers to remain with your brand after they make a purchase.

For your business, higher retention means a steady flow of revenue. And it cuts down on your costs to constantly acquire new customers.

Therefore, your loyalty programs must be effective. They need to serve a real purpose for the consumer, not just your bottom line.

To provide the best customer experience, fuse data into your retention strategies. It will impact how your team approaches the buyer.

“Influencing customer loyalty in this way doesn’t require magic, it requires data – usually data that you already have but aren’t using to full advantage. Regardless of industry, most organizations today generate mountains of data,” writes Mike Flannagan, vice president and general manager of Cisco.

Uncover the correlation between customer characteristics and purchasing behavior. Assign your team to analyze the current data of your most valuable customers. And learn which characteristics these customers have in common and which traits are dissimilar.

analytics-teams-improve-customer-experienceImage Source

Consider data an ongoing process of observing, acting, and learning. Improve your loyalty programs by taking action on your insights. Measure success by monitoring your customer lifetime value, loyal customer rate, and redemption rate.

Start with retention. And let the data guide you to customer loyalty.

Targeted Product Recommendations

Research shows that “customers that are actively engaged with brands and their loyalty programs make 90% more frequent purchases, spend 60% more in each transaction and are five times more likely to choose the brand in the future.”

Sending targeted product recommendations is one way to keep customers engaged. Because if they are not receptive to certain products, consumers will feel more inclined to take their business elsewhere.

Integrate real-time purchase data with historical purchase data to make specific recommendations. For example, if a small business bought payroll software from you, their team might be interested in purchasing your series of on-demand accounting webinars.

“Consumer data must be analyzed to create highly targeted product recommendation offers. Analyze consumer data such as demographics, lifestyle, products purchased by category and type, frequency of purchase, and purchase value,” states Larisa Bedgood, director of marketing at DataMentors.

It’s key not to draw wild conclusions from one piece of data. Just because a Florida resident buys a winter coat doesn’t mean he wants to be flooded with similar recommendations. The consumer might have bought it as a gift for a friend living in Michigan.

So, gather multiple data points in order to make intelligent recommendations. You don’t want to frustrate loyal customers.

Your brand also can take a different approach. Use social proof to your advantage. If consumers are hesitant about particular products, remind them that other people are buying the product, too.

Home Depot uses this tactic by displaying a list of bestselling inventory. It persuades the customer to join the crowd.

home-depot-shop-bestsellersImage Source

Sift through your analysis reports. Uncover the best product recommendations for your customers.

Timely Promotions

For customers, loyalty takes effort. They receive lots of promotional ads everyday to try products from other brands. Appreciating your consumer’s urge to resist the hype is important.

Mobile phone carriers lead the way in baiting consumers to switch their services. AT&T offers cell phone users up to $650 in credit just to say bye to T-Mobile, Sprint, or Verizon.

att-switching-carriers-ad

To keep their loyalty, customers will hold your team accountable. They expect timely promotions that not only fit their buying habits but also their lifestyles.

At the end of the day, you want to deliver the right offer at the right time. This will increase the likelihood of the promotion redemption.

Monitor the sales data to learn when promotional codes are redeemed. Do your consumers use promotions more often in the morning? Right after a sales announcement? Or during summer months?

“By creating a time-sensitive sales promotion and having a good grasp on your target customer demographic, you’ll be able to incentivize the right actions, get them to respond, and grow your business in the process,” states Humayun Khan, former content marketer at Shopify.

Moreover, analyze your reports to discover the best product promotions. A timely discount matched with the wrong product won’t be useful for the consumer or your company.

Segment your customers to offer relevant discounts for multiple channels—in-store, online, and mobile. Every loyalty member doesn’t have to receive the same offer.

For instance, Starbucks offers its Gold members the opportunity to earn double stars. The coffee company surprises its loyal consumers on a different day each month. This technique increases the excitement and prepares customers to spend more money on a particular day.

starbucks-double-star-days

Don’t wait for your competitor to offer your customers a good deal. Start creating your own timely promotions.

Personalized Rewards

Everyone likes to be rewarded. It signifies that you’ve done something commendable. And incentives compel you to continue the rewarded behavior.

Recognize the value of your customer’s actions. Because that’s what you’re rewarding.

You can offer perks based on monetary transactions, shopping frequency, or even survey responses. It’s all about showing appreciation for consumers’ actions.

But it’s your team’s job to appropriately reward customers. Don’t expect people to buy $1000 worth of services in one month if your highest service retails at $10.

In addition, manage your loyalty members’ expectations. They shouldn’t expect your brand to give away free Beyonce tickets every day.

Personalized rewards ensure you’re giving your customers what they desire. It also shows that you are truly invested in the customer experience.

Send a simple email survey asking consumers what type of incentives excite them. Or conduct social media listening to identify useful prizes that can make your customers’ lives better.

Dick’s Sporting Goods sends emails asking customers for their opinions. The company uses the information to improve its inventory and customer service.

dicks-sporting-goods-feedback

Remember to focus on maintaining positive relationships with your consumers. Because that’s the ultimate goal for loyalty initiatives.

You want people to feel comfortable with your brand. Aim to offer rewards that bridge the gap between the consumer-brand relationship.

“A significant aspect of customer loyalty comes down to your likability. People will almost always remain committed to a brand if they believe they’ve developed a genuine and mutually beneficial relationship,” says Entrepreneur contributor Dave Thompson.

Tailor your rewards to satisfy your customers. Offer them something special.

Analyze Customer Loyalty

Customer loyalty can lead to retention. That’s why your team must use data to drive your loyalty programs.

Give consumers targeted product recommendations they can’t resist. Send promotions at the right time. And personalize rewards so the customer feels part of the brand.

Look at the data. Improve customer loyalty programs.

About the Author: Shayla Price lives at the intersection of digital marketing, technology and social responsibility. Connect with her on Twitter @shaylaprice.



[ad_2]

Source link

Your best users: Where they are and how to find them

[ad_1]

How much do you really understand about your users? Columnist Jeremy Smith explains how to drill down into the analytics and data you need to learn more about your best customers.

Please visit Marketing Land for the full article.



[ad_2]

Source link

How do you deal with local SEO KPIs that don’t pass the smell test?

[ad_1]

We all know that data can sometimes be unreliable, but columnist Andrew Shotland makes the case for why we shouldn’t just rely on free Google tools for data collection and analysis.

Please visit Marketing Land for the full article.



[ad_2]

Source link

Google launches free version of Optimize 360, introduces Session Quality Score metric & more

[ad_1]

The company made several Analytics solutions announcements Wednesday, including updates for Google Data Studio and Tag Manager.

Please visit Marketing Land for the full article.



[ad_2]

Source link

What is Data Quality and How Do You Measure It for Best Results?

[ad_1]

We’ve talked a lot about data quality in the past – including the cost of bad data. But despite a basic understanding of data quality, many people still don’t quite grasp what exactly is meant by “quality”.

For example, is there a way to measure that quality, and if so, how do you do it? In this article, we’ll be looking to answer those questions and much more. But first…

Dispelling Data Quality Myths

decision-makersThe foundation for ensuring data quality starts when basic requirements are created

One of the biggest myths about data quality is that it has to be completely error-free. With websites and other campaigns collecting so much data, getting zero errors is next to impossible. Instead, the data only needs to conform to the standards that have been set for it. In order to determine what “quality” is, we first need to know three things:

  1. Who creates the requirements
  2. How are the requirements created, and
  3. What degree of latitude do we have in terms of meeting those requirements

Many businesses have a singular “data steward” who understands and sets these requirements, as well as being the person who determines the tolerance levels for errors. If there is no data steward, IT often plays the role in making sure those in charge of the data understand any shortcomings that may affect it.

You Can Have It Good, Fast or Cheap – Pick Two

mcdonalds-junk-food

Everything from collecting the data to making it fit the company’s needs open it up to potential errors. Having data that’s 100% complete and 100% accurate is not only prohibitively expensive, but time consuming and barely nudging the ROI needle.

With so much data coming in, decisions have to be made and quickly. That’s why data quality is very much a delicate balancing act – juggling and judging accuracy and completeness. If it sounds like a tall order to fill, you’ll be glad to know that there is a method to the madness, and the first step is data profiling.

What is Data Profiling?

data-quality

Data profiling involves looking at all the information in your database to determine if it is accurate and/or complete, and what to do with entries that are not. It’s fairly straightforward to, for instance, import a database of products that your company manufactures and make sure all the information is exact, but it’s a different story when you’re importing details about competitor’s products or other related details.

With data profiling, you’re also looking at how accurate the data is. If you’ve launched on 7/1/16, does the system record that as 1916 or 2016? It’s possible that you may even uncover duplicates and other issues in combing through the information you’ve obtained. Profiling the data in this way gives us a starting point – a springboard to jump from in making sure the information we’re using is of the best possible quality.

Determining Data Quality

So now that we have a starting point from which to determine if our information is complete and accurate, the next question becomes – what do we do when we find errors or issues? Typically, you can do one of four things:

  • Accept the Error – If it falls within an acceptable standard (i.e. Main Street instead of Main St) you can decide to accept it and move on to the next entry.
  • Reject the Error – Sometimes, particularly with data imports, the information is so severely damaged or incorrect that it would be better to simply delete the entry altogether than try to correct it.
  • Correct the Error – Misspellings of customer names are a common error that can easily be corrected. If there are variations on a name, you can set one as the “Master” and keep the data consolidated and correct across all the databases.
  • Create a Default Value – If you don’t know the value, it can be better to have something there (unknown or n/a) than nothing at all.

Integrating the Data

When you have the same data across different databases, the opportunity is ripe for errors and duplicates. The first step toward successful integration is seeing where the data is and then combining that data in a way that’s consistent. Here it can be extremely worthwhile to invest in proven data quality and accuracy tools to help coordinate and sync information across databases.

Your Data Quality Checklist

clean-data

Finally, because you’re dealing with so much data across so many different areas, it’s helpful to have a checklist to determine that you’re working with the highest quality of data possible. DAMA UK has created an excellent guide on “data dimensions” that can be used to better get the full picture on how data quality is decided.

Their data quality dimensions include:

Completeness – a percentage of data that includes one or more values. It’s important that critical data (such as customer names, phone numbers, email addresses, etc.) be completed first since completeness doesn’t impact non-critical data that much.

Uniqueness – When measured against other data sets, there is only one entry of its kind.

Timeliness – How much of an impact does date and time have on the data? This could be previous sales, product launches or any information that is relied on over a period of time to be accurate.

Validity – Does the data conform to the respective standards set for it?

Accuracy – How well does the data reflect the real-world person or thing that is identified by it?

Consistency – How well does the data align with a preconceived pattern? Birth dates share a common consistency issue, since in the U.S., the standard is MM/DD/YYYY, whereas in Europe and other areas, the usage of DD/MM/YYYY is standard.

The Big Picture on Data Quality

As you can see, there’s no “one size fits all” approach to maintaining accuracy and completeness on every type of data for every business. And with big data’s appetite for information growing more and more every day, it is becoming more important than ever to tackle data quality issues head-on. Although it can seem overwhelming, it’s worth enlisting data hygiene tools to let computers do what they do best – crunch numbers.

The most important step you can take is simply getting started. The data is always going to grow as more prospects come on board and new markets are discovered, so there’s never going to be a “best time” to tackle data quality issues. Taking the time now to map out what data quality means to your company or organization can create a ripple-effect of improved customer service, a better customer experience, a higher conversion rate and longer customer retention – and those are the kinds of returns on investment that any business will wholeheartedly embrace!

About the Author: Sherice Jacob helps business owners improve website design and increase conversion rates through compelling copywriting, user-friendly design and smart analytics analysis. Learn more at iElectrify.com and download your free web copy tune-up and conversion checklist today!



[ad_2]

Source link

3 tips for tracking response to industrial tradeshow print ads and landing pages

[ad_1]

Columnist Dianna Huff offers some smart advice for how you can measure the digital impact of real-world event marketing efforts.

Please visit Marketing Land for the full article.



[ad_2]

Source link

What is Google Data Studio and how can you use it?

[ad_1]

Currently in beta, Google Data Studio allows you to create branded reports with data visualizations to share with your clients. Columnist Sherry Bonelli explains the benefits and how to try it out.

Please visit Marketing Land for the full article.



[ad_2]

Source link

A CMO’s View: How data & analytics help shape SAP’s marketing message & strategy

[ad_1]

SAP’s Maggie Chan Jones shares how her team uses analytics to manage events, modify campaigns and inform the brand’s marketing strategy.

Please visit Marketing Land for the full article.



[ad_2]

Source link