Good online marketing is nothing without good data. But how and what kind of data should you collect if you want to measure and optimize your luxury marketing funnel?
What do we cover in this episode?
- What is attribution modelling?
- Measuring funnels
- funnel metrics to track
- Identifying traffic sources
- Linktracking (UTM parameters) & bitly / owly
- Web Analytics dashboards
- Social Media Analytics
- Email & CRM Analytics
- Funnel Visualization tracking
- Customer profile creation
- Recording visitor behavior
- Associating costs to metrics
- Unifying all data & costs into one overview
Collecting the right data and how you interpret it is hugely important in direct marketing
Big data has been a buzzword for a while now in the business world. Data in the marketing context means often measuring the effectiveness in terms of results and cost of a funnel. And it so happens that funnels are our specialty at Jadewolf.
Solid attribution modelling can help you identify opportunities, help remedy cost-leaks and overall increase and speed up your optimization efforts, based on real-world data, not just your gut feeling. Following this approach is crucial in direct marketing and can be a bulwark against the all too common fallacy among business people and marketers alike to assume every customer or prospect thinks and reacts exactly like yourself.
Measuring your funnel from top to bottom, tracking relevant KPIs and associating line items in terms of cost in one single overview can cause powerful AHA moments for any business. Analytics is often a field not many marketers like to explore, especially if they consider themselves more on the artistic, brand marketing side of things. If you want to brush up your general know-how on how to measure marketing make sure to listen to this episode.
In the next episode:
In the next episode we will talk about common luxury marketing issues that the hospitality industry is currently facing and how those challenges can be addressed.