As consumers rapidly adopt new technologies, marketers are seeking new methods to connect with customers through their technology of choice.
Moreover they are discovering opportunities to create connections using data from trusted analytics solutions such as Google Analytics.
But some analysis is not always a straightforward review within a dashboard. Connecting Google Analytics data to specific customer profiles and accurate revenue and margins is one of those missing straightforward reviews.
Without it, marketers are only gaining partial insight into customer behavior.
Google and other providers have begun to offer solutions tailored for advanced analysis. Enter AgilOne, a predictive analytics solution with turnkey dashboards and customizable reports.
Based in Silicon Valley, AgilOne has attracted known consumer brands as its customers, such as The Body Shop, Shazam and Sports Authority. It has also attracted investment from highly regarded venture capital firms such as Sequoia Capital.
AgilOne just introduced Marketing Spend Optimization, a Google Analytics integration tool that builds segment analysis on acquisition, retention and lifetime value of a customer. This augments data within Google Analytics to allow segments to be more comparable to revenue-related behavior than site-related behavior.
For example, analytic users can link a Google AdWords account to Google Analytics for a more comprehensive view of how a customer arrives to a goal typically set in the reporting – a click button to a sign up, for example.
The data in the UI elaborates on site behavior goals and conversion metrics. This was — and remains — a convenient and useful integration.
But in today’s customer’s digital experience, points of contacts beyond a webpage have appeared. Thus, analysis becomes complicate in many instances when a company must value a customer segment.
Examining the value of digital marketing campaigns becomes divided and siloed rather than seamless and integrated.
What It Offers
Marketing Spend Optimization aids the reporting process by aligning granular data and metrics around revenue-related customer spend. The end result is a quicker determination on which marketing campaigns influence profit-related metrics, such as understanding how much revenue is coming from repeat versus newly acquired customers and where the most valuable customers are coming from.
I spoke with CEO Omer Artun by phone to learn more about the company. A PhD in machine learning, Artun has led a team of data scientists in developing the solution. He explained that with their solution’s emphasis on “analytics and actionability, our focus is the customer.”
Artun elaborates in the company press release how marketers “may erroneously prioritize campaigns that are bringing back existing customers that could have been re-engaged using lower-cost channels such as email. Our new Google Analytics integration delivers a 360-degree view of each campaign and adds predictive analytics to empower marketers to make the best decision about their ad spend.”
Introducing new tools like Marketing Spend Optimization means more than empowering marketers. The need for predictive analytics tools has risen alongside the demand for personal campaigns that complements a customer’s real-time shopping journey (For more on personalization, read the CMSWire post on another Google Analytics tool Evergage). Thus advanced measurement measures such as predictive analytics models and personalization campaigns require support that means even adjusting a business model to better serve customers.
The key to value-added data requires refining metrics that match customer behavior to digital budgets and providing a single view of the customer where possible. Tools such as the Marketing Spend Optimization are striving to be that key that unlocks real value.