ROI of Analytics: Explaining the Business Value of Measurement

[cs_content][cs_element_section _id=”1″ ][cs_element_row _id=”2″ ][cs_element_column _id=”3″ ][cs_element_text _id=”4″ ][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”5″ ][cs_element_row _id=”6″ ][cs_element_column _id=”7″ ][cs_element_headline _id=”8″ ][cs_element_text _id=”9″ ][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”10″ ][cs_element_row _id=”11″ ][cs_element_column _id=”12″ ][cs_element_headline _id=”13″ ][cs_element_text _id=”14″ ][/cs_element_column][/cs_element_row][cs_element_row _id=”15″ ][cs_element_column _id=”16″ ][x_feature_list][x_feature_box title=”” title_color=”” text_color=”” graphic=”icon” graphic_size=”45px” graphic_shape=”circle” graphic_color=”#ffffff” graphic_bg_color=”hsl(0, 0%, 41%)” align_h=”left” align_v=”top” side_graphic_spacing=”20px” max_width=”none” child=”true” connector_width=”1px” connector_style=”solid” connector_color=”hsl(0, 0%, 20%)” graphic_icon=”users” style=”font-size: 1em;”]How many customers have we acquired?[/x_feature_box][x_feature_box title=”” title_color=”” text_color=”” graphic=”icon” graphic_size=”45px” graphic_shape=”circle” graphic_color=”#ffffff” graphic_bg_color=”hsl(0, 0%, 41%)” align_h=”left” align_v=”top” side_graphic_spacing=”20px” max_width=”none” child=”true” connector_width=”1px” connector_style=”solid” connector_color=”hsl(0, 0%, 20%)” graphic_icon=”cart-plus” style=”font-size: 1em;”]How much do these customers purchase? [/x_feature_box][x_feature_box title=”” title_color=”” text_color=”” graphic=”icon” graphic_size=”45px” graphic_shape=”circle” graphic_color=”#ffffff” graphic_bg_color=”hsl(0, 0%, 41%)” align_h=”left” align_v=”top” side_graphic_spacing=”20px” max_width=”none” child=”true” connector_width=”1px” connector_style=”solid” connector_color=”hsl(0, 0%, 20%)” graphic_icon=”money-bill-wave” style=”font-size: 1em;”]What is our overall profitability?[/x_feature_box][/x_feature_list][/cs_element_column][/cs_element_row][cs_element_row _id=”21″ ][cs_element_column _id=”22″ ][cs_element_text _id=”23″ ][/cs_element_column][/cs_element_row][cs_element_row _id=”24″ ][cs_element_column _id=”25″ ][x_feature_list][x_feature_box title=”” title_color=”” text_color=”” graphic=”icon” graphic_size=”45px” graphic_shape=”circle” graphic_color=”#ffffff” graphic_bg_color=”hsl(0, 0%, 41%)” align_h=”left” align_v=”top” side_graphic_spacing=”20px” max_width=”none” child=”true” connector_width=”1px” connector_style=”solid” connector_color=”hsl(0, 0%, 20%)” graphic_icon=”repeat-alt” style=”font-size: 1em;”]The repeat purchase rates are higher.[/x_feature_box][x_feature_box title=”” title_color=”” text_color=”” graphic=”icon” graphic_size=”45px” graphic_shape=”circle” graphic_color=”#ffffff” graphic_bg_color=”hsl(0, 0%, 41%)” align_h=”left” align_v=”top” side_graphic_spacing=”20px” max_width=”none” child=”true” connector_width=”1px” connector_style=”solid” connector_color=”hsl(0, 0%, 20%)” graphic_icon=”times” style=”font-size: 1em;”]The customer churn rates are lower.[/x_feature_box][x_feature_box title=”” title_color=”” text_color=”” graphic=”icon” graphic_size=”45px” graphic_shape=”circle” graphic_color=”#ffffff” graphic_bg_color=”hsl(0, 0%, 41%)” align_h=”left” align_v=”top” side_graphic_spacing=”20px” max_width=”none” child=”true” connector_width=”1px” connector_style=”solid” connector_color=”hsl(0, 0%, 20%)” graphic_icon=”user-chart” style=”font-size: 1em;”]The overall lifetime value of the right customers will generally outperform customers acquired at the lowest possible price.[/x_feature_box][/x_feature_list][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”30″ ][cs_element_row _id=”31″ ][cs_element_column _id=”32″ ][cs_element_headline _id=”33″ ][cs_element_text _id=”34″ ][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”35″ ][cs_element_row _id=”36″ ][cs_element_column _id=”37″ ][cs_element_headline _id=”38″ ][cs_element_text _id=”39″ ][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”40″ ][cs_element_row _id=”41″ ][cs_element_column _id=”42″ ][cs_element_headline _id=”43″ ][cs_element_text _id=”44″ ][/cs_element_column][/cs_element_row][cs_element_row _id=”45″ ][cs_element_column _id=”46″ ][x_blockquote cite=”Sean Lee, Vice President of Digital Marketing and eCommerce at Pure Romance” type=”left” style=”font-size: 1.25em;color: #0c6dc8;”]“Analytics are incredibly valuable to any marketing organization. I view them as an absolute necessity. In today’s digitally native eCommerce environment, marketing leaders must have a disciplined analytics tracking program in place to measure the impact of their marketing choices as well as their spend allocation. Investing in analytics is the foundation for both running statistically significant A/B tests to increase website conversion, and for running top of funnel A/B tests on advertising vehicles. Without proper analytics in place, you are essentially flying blind and will undoubtedly get left behind by those who use the data to continually improve and better connect with their customers.”[/x_blockquote][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”48″ ][cs_element_row _id=”49″ ][cs_element_column _id=”50″ ][cs_element_headline _id=”51″ ][cs_element_text _id=”52″ ][/cs_element_column][/cs_element_row][/cs_element_section][cs_element_section _id=”53″ ][cs_element_row _id=”54″ ][cs_element_column _id=”55″ ][cs_element_line _id=”56″ ][cs_element_text _id=”57″ ][/cs_element_column][/cs_element_row][/cs_element_section][/cs_content]