(Before & After Augmented Analytics — Blog 4 of 4)
A product is only as good as its marketing, which is why just about every brand has welcomed the influx of consumer data that the digital world has provided in the last decade. But it is because these marketing technologies (like Constant Contact) have become so ubiquitous that industry professionals are starting to look toward more advanced data-centered capabilities — like Augmented Analytics — to uncover more usable information from their digital data. And while marketing Software as a Service can make a marketer’s job much more manageable, it has come with a different challenge: data quality management. Luckily, this is something that Augmented Analytics is addressing.
Here are three ways smarter analytics technology is changing the game for marketers:
Facilitates better content.
In the age of digital marketing, data-driven content marketing, which includes everything from blogs to email marketing to social media posts, has become a strategy mainstay because it’s the first line of communication with existing and potential customers. A company could see the basics of how people interacted with their owned media — time spent on a page, links clicked, and how they got to the web page in the first place. Paired with automation, they could then use that information to guide their content moving forward.
Advanced analytics is handy for doing things we don’t want to do, but even better for the things we can’t do — like reading hundreds or thousands of published works and using algorithms to derive popular themes and suggest strong content topics. Grammarly is one example of Augmented Analytics as it applies to content; AI can detect tones of voice, and make suggestions for improvement or consistency.
Reduces customer acquisition costs.
Getting business is expensive, and the ultimate goal is to lower the sales process cost and maintain customer loyalty. When data analytics came to market, marketers could cull more data faster, and increase their ratio of inbound leads by improving things like Search Engine Optimization for their websites. As data analytics for Customer Relationship Management became more sophisticated, CAC has lowered.
Augmented Analytics can take advantage of the extremely granular insights we have into many types of personas, and automatically analyze and suggest courses of action. Now, platforms can automate a marketer’s search process for the most ideal, most-likely-to-convert customers tied to different, specific objectives. By using AI to identify various types of target customers, it’s less time consuming (and expensive) to build up leads.
Brings agility to marketers.
In the earlier days of data analysis, it could take months to plan and execute an advertising campaign — and then weeks to months for collecting performance metrics to see if the advertising resonated with the target customers. Augmented Analytics has made it easier to design a marketing strategy based on real-time measurement. While easy-to-use dashboards via Google Analytics show standard marketing KPIs, data tech can now do more for in-the-moment market analysis.
Augmented Analytics lets marketers jump on timely trends, primarily through predictive analytics. Take the example of Aviation Gin, which responded to a cultural trend within days. After people took to social media criticizing the famous “Peloton Wife” ad, the Gin company saw the spike in conversation and immediately put out a parody commercial. Social media topics and discussions change constantly, and not all of them will resonate with a brand’s target audience. In this case, Augmented Analytics can help a company pinpoint what their customers are interested in and strike while the iron is still hot — and know (immediately!) if it was worth the effort.