Marketing analytics is not just about competitive advantage, but also being a responsible adult.
Stéphane Hamel writes about, lectures about, and teaches at the university level about his Online Analytics Maturity Model. He has created a white paper, a workshop, and a self-assessment questionnaire that all help you understand where you are on the maturity continuum.
Stéphane's model starts with the evaluation of your management. If nobody is responsible for marketing analytics, you're in deep trouble. The next step up is that a director is responsible. Better than that would be if senior management is involved. Better? The corporate culture is based on being data-driven. The highest level of marketing analytics maturity is if your organization is competing on analytics.
Similar sets of levels are identified for the maturity of your objectives, scope, resources, methodology and process, and tools and technology (Figure 1).
While it sounds very reassuring that Stéphane has laid out the roadmap to maturity, it must be noted that the path is strewn with obstacles that shine a bright light on the immaturity lurking inside every company. By that I mean, the conversations this process starts highlight the juvenile approach many individuals take to working as a team.
An assessment of your organization's marketing analytics maturation depends on the outcome of a reasonable conversation about your:
This is much harder on the surface than it looks. In addition, it's not what I was referring to in the title of this column on marketing analytics maturity.
I wanted to draw attention to the maturation of the marketing analytics industry as a whole. I leave it to Stéphane to tell us the statistical results of his assessment questionnaire while I report on my anecdotal observations.
In the past 10 years, I've seen the Web analytics industry progress from a handful of long-haired, sandal-wearing enthusiasts to an established, organized, seasoned profession.
Where once there were heated arguments over whether log files were better than page tags, we now have companies hiring teams of marketing analysts and creating formal processes for multivariate test management. Where we used to have three or four vendor white papers on the value of measuring click-throughs, we now have a formal Certified Web Analyst offered by the growing Web Analytics Association.
Perhaps the biggest indication of this industrial maturation is the acquisitions of a variety of analytics companies. Abode picked up Omniture, comScore acquired Nedstat, Teradata purchased Aprimo, and IBM bought Coremetrics and Unica.
It has become obvious that a curious, esoteric little niche for data junkies has blossomed into what many of us suspected and have long argued is a very serious business necessity. It's not only a matter of competitive advantage, marketing analytics is now about being a responsible adult.
This Year's Premier Digital Marketing Event is #CZLSF
ClickZ Live San Francisco (Aug 11-14) brings together the industry's leading practitioners and marketing strategists to deliver 4 days of educational sessions and training workshops. From Data-Driven Marketing to Social, Mobile, Display, Search and Email, this year's comprehensive agenda will help you maximize your marketing efforts and ROI. Early Bird Rates available through Friday, July 18. Register now and save!
Jim Sterne is an international consultant focused on measuring the value of the online marketing for creating and strengthening customer relationships. Sterne has written eight books on using the Internet for marketing, produces the eMetrics Marketing Optimization Summit and is co-founder and current chairman of the Digital Analytics Association.
The Marketer's Guide to Customer Loyalty
Customer loyalty is imperative to success, but fostering and maintaining loyalty takes a lot of work. This guide is here to help marketers build, execute, and maintain a successful loyalty initiative.
The Multiplier Effect of Integrating Search & Social Advertising
Latest research reveals 68% higher revenue per conversion for marketers who integrate their search & social advertising. In addition to the research results, this whitepaper also outlines 5 strategies and 15 tactics you can use to better integrate your search and social campaigns.
Wednesday, July 23, 2014