If the customer journey has rendered the marketing funnel obsolete, can advanced web analytics bring it back to life, while helping marketers better understand and improve the customer experience? Thanks to Bizo Full-Funnel Analytics, new reporting capabilities in the Bizo Marketing Platform, marketers can identify and measure the impact of display advertising at every stage of the marketing funnel.
Advertising Analytics Go Full-Funnel
Designed for B2B marketers, Bizo Full-Funnel Analytics allows marketers to more accurately measure the impact of their display advertising according to specific marketing objectives, instead of having to rely on “last-click” attribution. It can do this because of its access to proprietary data on more than 85 percent of the business population in the United States as well as enhanced attribution tracking capabilities. Using this information, Bizo Full-Funnel Analytics can identify the business demographic profile of a site's web visitors, their exposure to Bizo display advertising and analysis about how that exposure changes their purchase behavior.
Marketers can leverage these in-depth insights for a variety of tasks, like measuring the number of new website visitors resulting from Bizo display advertising, determining the Cost Per New Visitor (CPNV) of each new Bizo-introduced visitor, optimizing the cost for acquiring a new prospect, as well as comparing the lift in website engagement and conversions of visitors exposed to Bizo display advertising versus those not exposed to ads.
If you're not yet convinced that the marketing funnel and customer analytics can work well together, just ask yourself what you would do differently if you had the ability to determine the cost, engagement and conversion levels of new visitors. Perhaps you could reach your target audiences at scale and at every stage of the buying process. Or maybe you could employ out-of-the-box analytics to gain visibility into what's working best for you. Either way, it's bound to deliver better results than if you didn't know it at all.
The Evolution of Marketing Funnels and Customer Experiences
In February, Ashley Eckel wrote that "it’s time marketers wake up and realize that going beyond analytics, and turning that data into action, is how their marketing funnels — and customer experiences — are going to truly evolve." It seems as if Bizo was paying attention. It isn't that marketing funnels and customer analytics can't coexist. Rather, it's that in order for them to work well together, marketers will need advanced tools to glean more in-depth insights to help them take strategic actions to improve the ever-evolving customer experience. By themselves, neither the marketing funnel nor customer analytics can effectively impact the customer experience. Together, however, they have the power to revolutionize display advertising for marketers.
image credit: Shutterstock / Sergey Nivens