Data Analytics for Marketers & CMOs
Do more with less:
Increase your marketing efficiencies
What Problems Do Marketers face?
A slow but noticeable erosion of marketing efficiency and rise in Cost per Acquisition (CPA)
Rising costs of Digital Marketing
- Enhanced competition
- Trickier targeting
- Ad pricing increases and inflationary pressures
Less clarity on digital measurement
- Cookies and privacy agendas limiting visibility
- Data silos from different analytics tools
- New complexities of Digital Analytics tools
No source of truth
- Marketing spend attribution dilemmas
- Conflicting narratives
- Incomplete information
How to solve it?
1. Spend Less per Click
Identify the right potential customers to target and ensure no redundant keywords or audiences.
- Audit of advertising accounts such as Google Ads (PPC), Google Universal App Campaigns, Microsoft Ads, Affiliate marketing, Meta Pixels, Meta Retargeting, TikTok, and others.
- Optimising Ad Spend: Detecting underperforming marketing channels and campaigns involves defining metrics like return on advertising spend or cost per conversion. Subsequently, reallocating the budget to those channels that yield the highest return on investment
- Customer List Integration: Leverage your owned data to target customers on advertising platforms who share similarities with your existing customer base..
2. Convert these clicks better
Traffic volume generation is useless if the website is poor. Increase the conversion rate users better to bring down CPA.
Onsite optimisation requires meticulous attention. Quantifying the impact of changes, understanding data, and asking the right questions are imperative.
- Identify conversion Issues through data: Conduct a comprehensive audit of the digital analytics setup of your website to identify measurement gaps and accurate conversion recording. Using this data to understand why behaviour occurs the way it does, then generate ideas to solve bottlenecks in funnels.
- Scientifically optimising the website through A/B testing: Understanding what works and what doesn’t.
- Apply changes and continually optimise: A process called Conversion Rate Optimisation (CRO) to deliver permanent solutions.
3. Reduce Customer Churn
- Generate a Lifetime Value (LTV) figure that is accurate, so you can determine the true value of any customer and factor this into marketing investments.
- Your “North Star” metric should be Lifetime Net Profit per Customer. This cannot be found in any off the shelf Digital Analytics tool, and needs to be calculated in a custom analytics solution unique to your business.
- Increase the Lifetime Net Profit per Customer most simply by encouraging customers to spend time and time again to reduce acquisition costs and increase your marketing ROI.
Without advanced Data Analytics, each step of this simple three step process would not be possible to do effectively.
Contact me for an introduction call today to discuss your Marketing & Digital Analytics Requirements to increase your marketing efficiency and decrease CPA.
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