Measuring what matter, making Analytics count
The path to purchase has traditionally been viewed as a linear journey or funnel. And although this approach can still be used to explain the principles of buying, we know know that consumers will engage with products and services across a myriad of touchpoints over time. Analytical tools can now capture and offer insights on demographic, behavioural, sentiment and intent data across desktop and mobile. Combine this data with previous purchasing activity, loyalty programmes or any other first party data source, and you can start to pinpoint consumers in a way that wasn’t dreamed of ten years ago.
There is increased investment in data-driven marketing using a combination of big data capture, analytics tools and experts, marketing technology and advertising technology to reach consumers with the right message at the right time, in the right place, in the right context.
Campaigns can now be monitored in real-time using analytical tools that track performance over time and lead to optimisation of conversions. These tools can track performance across the marketing mix, so marketers can understand the impact of media channels on a variety of touchpoints, eg the impact of TV advertising on search performance, or the use of geolocation and context to identify intent.
We now understand the value of engagement and a far higher weighting can now be placed on early journey exposure with display advertising, rather than relying on the last click to measure performance and ROI. Analytical tools to measure attribution are redefining the way in which marketers allocate budgets and these insights are enabling a far higher level of precision across all channels.