An analytics roadmap for marketers

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Step 4: Balance

At this point you have too many opportunities, and not enough time or budget to implement all of them. Similar to the advice in health magazines about what foods you should eat, individually each opportunity is good, but you simply can't do them all.

Over the long term, identifying new opportunities is critical to staying ahead of competitors and improving the scalability of your programs.

Prioritize your opportunities based on expected results and fit it within your overall marketing mix and scalability. Once you have priorities, select opportunities that cover a range of underlying drivers and continuing your testing and insights.

Exercise
Consider the timeline, cost, and potential return (including the value of testing and developing new insights) of the opportunities identified in exercise 3. Then, grade opportunities into A, B, C, D, and F groups.

From your A and B graded opportunities, select a range of opportunities to test, paying particular attention to the opportunities aligned with performance drivers that come up consistently in exercise 2. These are generally the opportunities that you can build on and continue scaling.

The opportunities selected should fit within your overall marketing mix, be significantly different from each other and existing elements of the campaign, and have a high expected return.

You now have a plan built up from analysis and insights that should improve your results and increase the scalability of your marketing program. This process is designed to make it easy to avoid some of the most common pitfalls in reporting and analysis.

 

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