At the San Diego MIT Enterprise Forum yesterday it was
is more than an application for the web. Analytics will incorporate
data from your website to your CRM system to customer feedback to data from
video at your Brick and Mortar location (There is a company in
2.) Analytics can provide your firm with a long term competitive advantage. Craig from SEM Director describes analytics as an arms race in which companies quick to adapt and leverage the wealth of data available to them can truly build a long term competitive advantage in the marketplace. I see this everyday as Analytics can assist in conversion improvements by 300% or more. Picture two competitors each spending $500K per year on Google Clicks, one with a 2% conversion generating $1.5M in revenue and their competitor with a 6% conversion generating $9M in revenue. Who will be pulling their hair out over rising click costs and an increasingly competitive landscape in search and who will be smiling all the way to the bank?
3.) What gets measured gets done. This was one of Tim Ash’s mentors mantras and there is no better way to put it. Measurement, testing, and action are essential to improve the performance of any website or marketing campaign. Understanding how to dig through analytics data NEEDS to be a core competency of ANY marketer today to stay competitive.
Other interesting points that got brought up were customization of browsers experience based on Analytic data and website performance monitoring (a service provided by WebMetrics). If you are on a budget I recommend using Google Analytics (it’s free!). I also look forward to testing Engine Ready Analytics which is only $49 per month and integrates cost data from multiple SEM platforms.
On a final note my first aha moment in Analytics was a while back at a presentation given by Tim from Site Tuners whom I have since seen speak at SES and had the privelage of seeing again tonight. He is one of the best in the business and will put his money where his mouth is, improving conversion percentage on a strictly performance based pricing model.
Posted by Micha at the abandoned home office where it all began.
“Create Your Own Tomorrow”