I had the privilege of recently seeing Neil Hoyne, Global Program Manager Customer Analytics for Google deliver an entertaining presentation on how to make measurement more customer-centric.
Neil’s presentation details how online analysis has migrated from traffic centric (hit counters!) to conversion centric and more recently to customer-centric measurement and actions. Neil provides a range of examples from retailers in topics such as attribution, effective customer acquisition, justifying investment and measuring customer interactions throughout their relationship.
One of his initial points is that only 6% of marketing decisions are made using company data. This leaves a significant proportion of marketing actions that are driven by intuition or gut feel. Many organisations have significant richness in their information and data, however a gap exists in knowing how to drive action from that data.
The challenge and solution are well summarised:
Neil’s full presentation is captured below.