As A Strategy
Marketing analytics is not software you can buy.
It’s an ongoing strategy for increasing revenue, winning customers and revolutionizing your business.
For 12+ years, Alight has helped America’s leading brands and agencies transform their relationship with marketing data. Here’s how they did it. And how you can, too.
How You Get From Here To There
Most marketing teams experience the same evolution as they increase their ability to turn data into business insights.
We call it the 4 Levels of Marketing Analytics Performance. Alight’s mission is to help you reach the next level, using solutions and services built for the obstacles in your way.
Basic automated reporting by marketing source
At Level 1, your team is focused on reporting — looking at the recent past, usually platform by platform. How many people came to the site last month? How many clicks did we get from Facebook? How many from Google Ads? At this step, your goal is to move from manual data pulls to automated reporting.
Reporting on performance across channels and campaigns
At Level 2, reporting is still the focus, but you’re using a more sophisticated lens. Now you can assess performance for an entire campaign or channel — like all your paid social, for example — in a single view.
To achieve Level 2 insight, marketers need to be able to aggregate, blend and store marketing data from multiple sources. And they need a visualization solution, so they can build reports and dashboards for analysis.
This is where ChannelMix, Alight’s data aggregation platform, comes in. ChannelMix collects, cleans and organizes marketing, media and transaction data from essentially any source, so that it’s ready for analysis in your preferred visualization tool. Need a dashboard too? We have templates for that.
Understanding channel value and optimizing spend to maximize results
Level 3 is where the fun starts. Using marketing attribution models, you can tie sales and conversions back to the marketing activities that produced them, across multiple channels and platforms. That way, you can direct more spend to where it’ll do the most good.
For Level 3 insights, a common tracking strategy across marketing, media and sales data is essential. ChannelMix Keys is an add-on module that supports cross-channel marketing attribution by assigning a key to each marketing campaign for streamlined tracking and management.
Predicting the right marketing mix and forecasting ROI for all channels
And it all builds to Level 4. You use data science, machine learning and other advanced techniques to build models and forecasts so that you know exactly where and when to invest your time and money. And even account for variables for weather, location and the larger economy. Here, you can answer the toughest, most important questions imaginable.
At Level 4, historical data becomes more important — past performance can help predict future performance. A statistical modeling tool and a Data Science team are key to getting this level of advanced insight as well.