Tag Archives: analytics

Facebook Launching Brand Page Analytics Tool

October 4, 2011

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Facebook is planning to launch an analytics tool to help companies measure the impact of their brand pages. The tool will be launched on 5th October.

Right now the maximum information that companies can draw from their FB page is how many people have liked it. While this is a good measure of popularity but it might not help marketers much as the numbers can also include people with fake profiles.

The most important number is to know how many people are interacting, how many people are posting comments on the wall.

According to Facebook, this new tool will enable the companies to track comments, impact of media spend and product performance.

Some of the statistics given by Grady Burnett, VP of global marketing solutions at Facebook, emphasized the importance of such a tool.

According to him, there are 800 million users of Facebook, out of which almost 50% login daily. An average user has 130 friends. Sixty-eight percent of consumers are more likely to remember an advertisement when it is linked with a friend’s name, for e.g. if there is an ad saying, “your friend has purchased this, will you like to try?”, it has high probability of being clicked.

With the new age marketing, it is very important to measure the value of interaction with the customers. With this tool, hopefully it will become easy for companies to know who is talking what thereby enabling them to make more customized messages as per their target audience.

More to review when the tool is actually launched.

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Predictions for Future Digital Marketing till 2016 – Search to Decline

September 1, 2011

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Forrester Research has released its latest projects for the growth of the interactive marketing industry through 2016. According to the report, $77 billion per year will be spent on digital marketing activities by 2016 which is almost equivalent to the advertising budget spent on TV ads as of today. Some of the key points include:

  • The growing usage of interactive marketing tactics into the main marketing strategies are a clear indication that digital campaigns will become more strategic and important aspect of integrated marketing communications.
  • Online search will lose its share, but will still continue to grow up to $33 billion / year channel by that time.
  • Display, mobile and social will all have an increased share. Though, social will lag behind the other channels due to the fact that social campaigns are less costly in terms of execution.

With the growing popularity of digital channels and mediums, it is clear that the digital marketing industry will continue to boom. But it is not the traditional digital marketing that will mark the future strategies, but multichannel digital communications is what will form the base of future marketing. Search will still retain the top stop, but the nature and behavior of search will change. Future search will require more interactivity and a better understanding to be part of an integrated marketing plan.

There are many observations that have led to derive this conclusion:

  • Online consumers are smarter and empowered with more research tools today than ever before.
  • Web has changed. Consumers are now relying on social networks, online reviews, videos, apps and other platforms to make an informed decision.
  • Smart and better analytics tools have allowed to perform a true evaluation of the online campaign performance.

Unlike the earlier times when the marketers were not able to calculate the performance of their online spend, now real time calculation of the ROI is also possible. Thus, it is highly probable that every marketer will move toward digital marketing strategies more.

One channel alone will not help the marketers. A multi channel presence is required to convince today’s smart audience. The challenge now is to integrate and optimize all the channels.
But the marketers need not panic. Google Analytics has introduced their Multi Channel Funnel. They are intended to provide the marketers with full range of influences that lead to a conversion.s that lead to conversion.

According to Google:

“When a customer buys or converts on your site, most conversion tracking tools credit the most recent link or ad clicked. In reality though, customers research, compare and make purchase decisions via multiple touch points across multiple channels. So marketers that measure return solely on the last channel that a customer touches before conversion are getting an incomplete picture, and potentially missing out on important opportunities to reach their customers.”

Though such insights are not new, but this is one of the easiest and a free tool that even the beginner in analytics can use.

The key advice to a digital marketer is to come up with unique ideas that are more interactive and can be integrated easily across several channels.

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IBM Launches Cloud Based Analytics Suite

July 18, 2011

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IBM announced the launch of a cloud-based Web analytics and digital marketing suite to help automate online marketing campaigns across digital channels.

This new suite combines the software IBM got in its acquisitions of Coremetrics and Unica and provides analytics data that can help better determine the effectiveness of new products and services and tweak the marketing campaigns.

The technology is part of the IBM’s Smarter Commerce initiative, which aims to help companies to more effectively market, sell and secure greater customer loyalty.

This combination of Coremetrics and Unica software enables the companies to understand their consumer’s preferences in the digital world in a better way. For e.g. businesses would be able to evaluate Facebook or Twitter activity, and offer customers tailored promotions delivered to their mobile devices on the fly. IBM’s suite also enables businesses to deliver and fine-tune digital marketing programmes based on what customers are doing offline. For instance, a consumer who purchased a new tablet in a brick-and-mortar store would receive special offers via email to purchase tablet accessories. The benefit to the customer is a consistent, relevant brand experience that reflects all their online preferences, not just what they did, read or saw on one specific site, IBM said.

Their optimization suite automates a company’s ability to deliver a tailored online experience and marketing promotions through real-time personalized recommendations, email ad targeting and more. Apart from this the suite offers many other features including advanced segmentation, A/B testing and deep brand analysis.

“We’re seeing increasing client demand for a single source of truth in understanding customer online behaviour and buying trends as businesses strive to identify and seize new revenue streams,” Yuchun Lee, vice president and general manager of IBM Enterprise Marketing Management, said in a statement. “We are defining a powerful, integrated and data-driven approach to marketing, one that drives higher-margin sales while using analytics to place the customer’s needs squarely at the centre of all campaigns and promotions.”

This suite is the newest addition to IBM’s products of Smarter Commerce solutions. With its smarter products, IBM is going full fledged in the new market of analytics that it estimates to be $20 billion by 2015.

Do share if anyone has used this suite yet.

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