In marketing, data is an important tool for engagement, improving the customer experience and targeting, but sometimes it’s not as manageable as marketers would like. Marketers don't have to spend a lot of resources and time sorting this data by themselves; there are platforms and products to help with this task.
Dale Renner is the founder and CEO of one such company, RedPoint Global, and he spoke to CMSWire about this problem and his company’s solution.
The Data Problem
Marketers often face data management problems. Not only do they have to run many different campaigns, but they have to do so across a number of different digital and traditional channels, and collect and analyze analytics. For example, a marketing team could be running an email campaign, a postal mail campaign and then multiple social media campaigns. They have to gather data from each of these and if applicable divide the information into categories such as age, gender and then by engagement type, such as click-through rates, retweets, shares and likes.
They [marketers] have a daunting challenge on their hand because they have explosions of data and wide range of channels, so things are more fragmented,” said Renner.
Fragmentation happens because sifting through data without help can be difficult and often key information is missed. For digital marketers the use of external software, which automatically breaks down analytics for marketers, is helpful.
Fragmentation makes a precision problem,” said Renner. “Marketers can only be precise if they are driving insights from that data.”
The RedPoint Global Solution
With a self-proclaimed “360 degree view" of their customers, RedPoint Global’s flagship product is the Convergent Marketing Platform, or CMP, which manages and optimizes analytics.
The art form today is to not have siloed products for each of these channels, but to have a comprehensive view at the customer level,” said Renner.
This is something that CMP aims to do by taking raw data, such as consumer data and third party data, and turn it into insights. From these insights, which include view of mobile, social, paper mail and contact centers, marketers are able to see how successful they are and what customers are looking for in order to develop a more targeted and timely campaign strategy.
In turn by having a better developed strategy or ‘virtuous marketing cycle’ with CMP, Redpoint hopes that businesses will be able to to be more successful at marketing and customer relations.
We like this concept of a virtuous marketing cycle because what companies are trying to do is create an experience and to sustain a relationship through a series of experiences,” said Renner.
A Growing Customer Analytics Market
RedPoint Global isn't the only company to offer a solution that helps marketers sort both large and smaller chunks of analytics. Even though these other tools are different and sometimes provide different services than CMP, they all have the same overarching idea to improve the customer and marketing experience.
One tool that IBM offers clients is Enterprise Marketing Management or EMM. With the EMM, marketers are able to manage multi and cross-channel campaigns, integrate with other marketing products, as well be able to turn analytics information into a useful marketing tool. One product that operates within the EMM is Tealeaf Customer Experience Management. Tealeaf tools such as the TeaLeaf cxMoble and TeaLeaf cxReveal provide a detailed analysis of customer trends, issues and activity resulting in a better overall audience picture.
Another analytics solution is Real Impact Analytics. Much like the others mentioned, Real Impact is designed to turn data insight into marketing actions. Real Impact offers its clients two products: Guided Analytics and Predictive Analytics. With its Guided Analytics, Real Impact reports on an area that isn't performing well and provides campaign feedback. Predictive Analytics, based off past trends, tries to pinpoint future customer trends.
There's also Google Analytics. A complete analytics platform, the Google solution manages and tracks different types of data, which include mobile, social, conversion and advertising analytics. For example, with Content Analytics reports are broken down into categories such as how much time was spent on a site, what they clicked on and how much time was spent on each page. In addition to using this information to draw in more customers, users can get SEO tips and also test web pages to see which design is most favorable.
While there are a variety of different tools marketers can choose from, a list that includes RedPoint Global, one thing's for sure: no matter its size, if a marketing team hasn't adopted one of these platforms they should. Marketing is only going to get more complicated as more channels develop.