Digital Analytics

The Battle Between the Customer and the Entrepreneur   Thoughts through the demographic research component of your business plan. Before we get into it, just understand that knowing demographics is really nothing more than thinking about your customers and every business must have customers. The Story of Gala’s Bookstore I would like to tell you a story about Gala, Kalina’s Foremost Bookstore. Kalina is a clustering (I do not think it can even be called a hamlet) of about 20-30 people and this bookstore proudly lays claim to being the "foremost" bookstore in Kalina! in fact it is the only thing in Kalina.(Kalina’s Foremost bookstore) Yes there really is one! Now the reason I bring up the Kalina book store is that its owner Gala, according to his bio on his webpage Gala, is a most unusual sort of character. Having spent a significant part of his youth working in rural areas, Gala loves country living, and he loves books. The road where his business is located...

Banks - multichannel customer experience As a first step, banks could design an integrated customer experience based on a streamlined multichannel approach and architecture. As banks activate new channels, customer inputs and customer knowledge can be expected to increase, which would then enable banks to create micro-segments. Micro-segments are the smallest set of customers with uniform demographics and social behaviors, and form the basis for defining strategic profit pools. The increased capture and application of customer data, properly managed and updated through an advanced CRM platform, can help enhance the value and return on product catalogues, commercial campaigns based on realtime propositions, as well as lower distribution costs by optimizing capacity by micro-segment preferences. A multichannel customer experience is based on the right combination of online and offline processes and can be enhanced by focusing on dedicated advisory services (remote or digital)...

Cohort Analysis Predict in the next 12 months, an analyst friendly cohort analysis tool that helps measure user engagement over time. It helps UX designers know whether user engagement is actually getting better over time or is only appearing to improve because of growth. Although cohort analysis is possible using any of the current crop of web analytics tools (including Google Analytics), defining cohorts is clunky and in general, cohorts have to be defined, then data collected before an analysis can be done. (Rather than giving the analyst freedom to define cohorts today and apply them to historic data.) For that reason, if you have all your data in SQL, you have maximum flexibility to define your cohorts any way you like, define the metric you're comparing between cohorts any way you like and then run your analysis. A cohort is a group of people who share a common characteristic over a period of time. In a user engagement cohort analysis, we group people based on...

Propensity Models to Improve Response and Revenue Predictive analytics is ambrosia for digital marketers who are trying to optimize "right offer, right person, right time" through their campaign management solution. To make it work, you need a combination of defined personas, a content management strategy, creative asset library, and technology (e.g., it's built into the segmentation tools of your campaign management or marketing automation software). The end goal is to automate the offer selection and placement based on analysis and predictive models for your particular customer base. However, every marketer can get started by using pattern analysis in your existing response data to identify factors that lead to purchase behavior. Use that data (even manually) to improve your personas, segmentations, and send more relevant offers. Recently, we worked with a major U.S. retailer to try to figure this out. The retailer includes propensity models in their analys...

A Pricing strategy for your Saas offering Pricing strategy is a major component of any business, whether brick-and-mortar or bits-and-bytes. In addition to being an important strategy to hash out, it is also generally quite tricky to do correctly. Should pricing be value based or cost based? Should it focus on maximizing income per unit or volume? For all of the things our beloved SaaS delivery model does for us,   it does not  ease pricing strategy pains. I’d even venture to say that it makes pricing strategy even more complicated. After all, SaaS providers pride themselves in allowing tenants to pay a periodic base cost and tack on optional (and potentially intricately priced) bells and whistles. So how should a SaaS offering be priced? Clearly, this is something that should be considered on a case-by-case basis, however, I do feel there is a good framework to work from that focuses on boosting adoption rate and deferring creation of income and healthy margins to...

  The great digital migration of marketing (and business). A focus on moving leads from the top of the marketing funnel through to becoming sales-ready leads at the bottom of the funnel. Prospects are scored, based on their activities, and then presented drip campaign messaging via email and social channels, thus nurturing them from first interest through to sale. Reaching desktops, mobiles, tablets — and soon TV, cars, appliances, and more smart applications — people are continuously engaged in digital platforms at work and home. Digitally-tuned buyers have enabled all marketing movements such as inbound marketing and conversion optimization . This change in audience behavior has naturally been aligned by a shift in marketing spend to the digital domain. The point is not just digital advertising, but investment in technology , human resources in digital functions (such as social media), and budget reallocation towards digital-centric services. This will be faster as c...