Data-Driven Budgets To Increase in the New Year
-More interestingly, in a list of potential changes to increase its value, improved measurement and attribution techniques and better training topped the list.
Perhaps most importantly, “being customer-centric was the single biggest priority” amongst marketers. Good thing, too—as pointed out by Marketing Land, the popular tactic of attempting to win back lost customers with gimmicky incentives tends “to bring back the least profitable and highest-maintenance customers.” Keeping customers from leaving in the first place requires understanding their life cycle (e.g. suspect, to prospect, to lead, to customer) and tracking a campaign beyond immediate impact. This means, for example, measuring the success of an email campaign by keeping a control group who was not exposed.
As we head into 2016, settling on the most trustworthy metrics, and establishing trust between publisher and marketer, appear to be the ingredients to a illuminating data’s full potential.