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Podcast # 22 – Analyze your campaigns and make your investment profitable

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Podcast # 22 – Analyze your campaigns and make your investment profitable

In our CIO & CTO email list Leaders podcast we bring you the twenty-second episode: “Analyze your campaigns and make your investment profitable”.

Today, Pau Valdés interviews Gemma Muñoz , an expert in data analytics with more than 16 years of experience, director of the first master’s degree in digital analytics in Spanish, and CEO and co-founder of El arte de measuring , a specialized corporate high-level strategic consultancy in data science, data visualization and analysis, business intelligence, among others. Through The Art of Measurement , Gemma has been an advisor to major brands such as Zara , Telefónica , Santander , Iberdrola , Coca-Cola , Pullmantur , Montblanc , Bankinter , Amwayand Sanitas .

Gemma explains how to correctly turn data into a strategic asset for companies , since, as a digital marketer, you may have noticed that many companies do not have a culture of data analysis. Therefore, the data remains only as a liability within the organization, without being used in any way .

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“Data is a liability of your company until you start taking action on it and then it becomes an asset.”

Gemma Muñoz.

On the other hand, there are companies that invest large amounts of money in data analysis technologies, trying to get the most out of them. However, without having adequate advice on how to process and analyze data correctly, the simple investment in technology becomes an expense that does not generate returns of any kind .

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In this podcast, Gemma and Pau talk about:

1. A very common mistake when analyzing marketing campaigns
In general, when analyzing a marketing campaign, only those indicators that are specific to said campaign are taken into account, without considering or evaluating any external variable. This is a mistake to avoid! Keep in mind that factors of a very varied nature intervene in the decision-making process of a consumer, some related to the campaign that has impacted them and others not, and it is in the latter that the key to designing much more effective strategies may lie. .

If you focus on analyzing only those indicators of the campaign, then your overview of customer decision-making will be incomplete, and you will not be able to fully understand why and how certain purchase decisions happen.

For example, Gemma managed to improve the ROI of a company’s marketing campaign by 34% by combining the indicators of said campaign with meteorological data from certain locations, since by integrating this type of external information into internal data analytics, Gemma found that weather was a major trigger for user conversions. From that discovery, the company began to make better strategic decisions.

2. How to start integrating external variables and indicators?
The first thing Gemma recommends is to start with what does not generate costs for the company . On the internet, it is easy to get open source communities where they publish free resources that you can use immediately. For example, there are public datasets in which you can get scripts that allow you to incorporate meteorological variables to platforms like Google Analytics.

In this way, you can have the meteorological data segmented by location within your analysis tool, thus being able to combine said external information with the internal indicators of the campaign .

To discover which external variables are valuable to you, it is important that you develop a trial and error process . You must cross different external variables with the historical data that you have already collected from your campaign, in order to identify which variables may be having an impact on the results of the strategy and which ones are not.

3. The importance (and complexity) of channel allocation
It is important that you leave behind the idea that channel attribution consists only of knowing where the last click that sent the user to your website came from. Today, in the midst of increasingly complex multi-channel and multi-device Forex Email List, channel attribution analysis must begin to assess the impact of each channel on each stage of the customer conversion funnel .

This means that you have to begin to understand which channels help the user discover your product, which channels help your brand to position itself in the consumer’s mind, which channels help trigger the final purchase decision, and so on from the beginning. in order throughout the life cycle of the potential client and the real client .

In the digital market there are tools (very expensive) that allow you to implement quite powerful channel attribution models. However, on the podcast , Gemma explains a rudimentary, but effective and free technique for performing channel attribution.

4. The secret of how to be a good data analytics consultant
As a digital marketing expert or data analytics consultant, you should know that the most important thing for business clients is to understand what is happening , why it is happening and what can be done about it.

However, to answer these questions effectively you must bear in mind that not all decision makers (clients) who will come to you will be trained to understand the data analysis process well. For example, you may have noticed that many companies run analytics inefficiently and with high margins of error, where decision makers use dashboards that relate metrics that shouldn’t really be related .

At this point, your first responsibility as a consultant should be to talk with the decision maker to understand very well what he needs and how he needs it . In this way, you will not only be able to offer them just the data that will help them make better decisions, but you will also be able to transmit that information and knowledge in the best possible way, with clarity and easy understanding.

Finally, listen to the detailed explanation of these topics right now or download the episode and listen to it whenever you feel like it. You can also view the contents of the presentation by Gemma on analytical data in event # INLeaders19 op ou can check here all episodes of the podcast Marketing Leaders .

If you have any questions or you have any questions for Gemma or Pau, we encourage you to leave them in the comments section so they can solve it for you.

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