analytics

We’ve talked before about why it’s so important for marketers to employ analytics when making adjustments to marketing campaigns. Analytics plays an important role in ensuring that costs are accounted for and results are measured.

After all, a marketing campaign that underperforms — as with anything else — is not much use for a budget. But it can be a lot of information for a marketer or a business owner to figure out the best approach to gathering analytics periodically.

These days, there are so many metrics to target that a business could literally spend months on end sifting through all of the resulting information. This isn’t efficient for anyone, so it’s best to find a way to make marketing analytics work for you and simplify the marketing process. First, the business must decide what information it needs or wants to have.

Even for the largest companies in the world, this is a decision that must be made. Why? Because most industries are constantly shifting, requiring a marketing approach that can evolve over time.

This means that even the most tried and true marketing strategies may need some updating as time goes on. So what’s important? Things such as customer traffic and sources of acquisition are a simple place to start for any business restructuring its marketing approach.

Customer traffic can come from a variety of sources, most commonly search engines and social media.

So it’s important to know where these customers are coming from so that marketing efforts can be concentrated both on boosting current sources as well as improving others.

Customer acquisition is also a process that can take more time than just one web search. For this reason, the concept of retargeting is important as a brand seeks to obtain the customer after a pursuit.

The ability to analyze this customer behavior using retargeting and the analytics of such a campaign is a great way to increase sales revenue as well as the effectiveness of the brand’s marketing strategy. Analysis of information can also be used to save time and head off future disaster. For example, let’s say that a brand is considering launching a potentially controversial or, at the very least, a statement or campaign.

The brand, which manufactures athletic apparel, chooses not to launch the campaign at the last minute. Why? Because forecasted studies using data from previous customer behavior as well as sentiments towards specific ideas showed that the response may be overwhelmingly negative and result in backlash.

Analytics can be used in a way that benefits all parties. By preventing this potentially disastrous campaign, the data helped a business stay on task and in the positive light of perception by the public.

Going blind and electing to run the campaign may well have had very different results. With the presence of artificial intelligence making things such as consumer behavior tracking and customer service easier each day, analytics should be a large part of the wheelhouse of any marketer.

For businesses in need of a marketing overhaul, taking a look at the current analytics setup may be a place to start. After all, things change with time, and data helps us evolve with them.

Ronn Torossian is the CEO and Founder of 5WPR

Ronn Torossian

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Ronn Torossian is the Founder, President and CEO of New York-based 5W Public Relations. He has overseen the company's rapid growth and expansion to the Inc. 500 list, as well as provided counsel to hundreds of companies, including members of the Fortune 500, Inc. 500 and Forbes 400. His work spans global interests, corporate entities, high-profile individuals, regional business entities, government agencies and academic institutions - both on routine public relations matters and extremely sensitive issues. One of the foremost public relations experts in the U.S., Torossian is known for his aggressive, results-focused orientation, as well as his close working relationships with members of the media, influencers, decision makers, politicians and celebrities. At 5W Public Relations, Torossian's client experience has included programs for Coca-Cola, Microsoft, Anheuser-Busch, Barnes & Noble, Cantor Fitzgerald, IHOP, McDonald's, Evian, EDS, VeriSign, XM Radio, Seagram's, The Loews Regency, Bad Boy Worldwide Entertainment, Marriott Hotels, Vail Resorts, Pamela Anderson, Snoop Dogg, the Government of Israel, and others. Referred to by The New York Post as a "publicity guru," by Fox News as a "high-powered PR CEO," by Tyra Banks as a "crisis management guru," and by CNN as "a leading PR expert," Torossian is regularly featured in and quoted by the media, including by CNN, Fox News Channel, MSNBC, NBC, The New York Times, and others. CBS National News said "Ronn Torossian knows spin," and a New York Times feature story on Torossian referred to him as "The consummate hard-driving, scrappy NY publicist." Earlier in his career, Torossian was a Vice President/Group Director for one of The InterPublic Group's (IPG) largest PR agencies, where he was responsible for significant client growth and successful client programs, including work for Clinique, Fox News Channel, DHL, Hard Rock Café and others. A resident of Manhattan’s Upper West Side, Torossian was named to the Advertising Age "40 Under 40" list, PR Week's "40 Under 40" List, is a regular lecturer at universities and conferences, a member of Young Presidents Organization (YPO) and a board member of numerous non-profit organizations.