Has this happened to you… You suggest integrating your web analytics, CRM, and marketing automation sources together. Your IT team promises to have it ready “in a few years.”
You grind your teeth because you know you need to optimize digital marketing programs based on what’s really driving revenue rather just “front-end” metrics like visitors or registrations.
There’s obviously no one-size-fits-all approach or tool to close the loop – you have to look closely at your company’s particular situation and requirements. But, to de-mystify this project, let’s go through four common steps.
1. Define Requirements & KPIs
Define the goals, stakeholders, and team to get the work done. This will include your marketing, sales, IT, and web dev teams and likely a third-party vendor. You’ll also identify the source systems: a CRM such as Salesforce.com, a web analytics system such as SiteCatalyst or Google Analytics, and perhaps a call center or other line-of-business technology.
- Determine reporting requirements, goals, KPI
- Identify source systems and data stores (CRM & Web Analytics at a minimum)
- Mock up reporting, dashboard, and presentation layout
2. Design & Build Data Model
Build a data model to house all the data behind the KPIs you just defined. You’ll define the key data fields and keys and the transformations that need to occur from the source systems into your target system.
- Identify key data fields and transformations
- Identify target datastore and data model
- Create field-to-target mapping
3. Develop ETL Integrations
Now you actually build the programs and scripts to move data from the source systems into the target systems. You’ll also build various scripts and programs to transform, and calculate data, and build your KPIs in the target system. IT requirements will come into play here because you’re dealing with systems across the enterprise.
- Write scripts to extract / de-dupe / load to target
- Write scripts to check and validate data
4. Build & Distribute Dashboards
This is where it all comes together with reporting (and ongoing analysis). You’ll build dashboards and analyze reporting that ties front-end marketing activity with actual revenue.
- Develop report server
- Build dashboard presentations
- (Naturally, at this point you’ll be doing on-going ad hoc analysis as well)
The work to close the loop isn’t trivial, but it doesn’t have to be a boil the ocean, seven figure exercise either. With the right partner and/or internal team, you should be able to execute this project in three months for under $100,000. As the simple drawing above shows, you’ll be able to use closed-loop insights to deeply optimize programs based on what’s really driving revenue and thereby see a strong ROI on this project.
New Top-Level Domains (TLDs) have become more popular in the last couple of years, so here’s everything you need to know about them.
Sure, some apps are doing personalized push notifications, but what happens when your users are in the app?
Since cloud computing first gained mainstream attention around 2009, its popularity has exploded. Promising increased efficiency, flexibility and cost-effectiveness, it was hailed as the ultimate business solution. But are users seeing the benefits?
The term ‘marketing cloud’ has gained significant traction in the last few years as major software companies have sought to monetise the growing importance of technology for marketing teams.