The author shares takeaways on attaching monetary value to your analytics, campaign structuring and more for an effective mobile-centric strategy
The mobile tipping point has come and gone.
Internet usage and time spent on mobile have surpassed that of desktops in APAC (Asia Pacific) and it’s a trend that isn’t ending soon. Google noted in May 2015 that it is receiving more search queries on mobile in Japan.
It’s obvious that getting your strategy right on this device is absolutely key. Now, you just need to grapple with the ‘how’. Effective analytics is imperative to help you understand what you should be doing and how you can keep getting better. Designing something that works for you and your company is completely achievable. Having a proper KPI (key performance index) framework will provide a much-needed sense of direction in which to drive your campaign. Here are some simple steps to help you focus on what really matters:
1. Assign monetary value to your analytics
Assigning a monetary value to your analytics isn’t about attaching imaginary numbers to your data or inflating your brand’s value. It is a means of helping you track where your strategy is working for you and where it needs to be improved upon.
Say, the average order conversion for your business is US$20. It’s a lot easier to see where you ought to be taking further action when you can immediately discern a US$2,000 increase in conversion value than a less-meaningful 100 conversions a day.
Measuring the end-to-end real value of what you’re doing can help you set and track the goal conversions that your business needs most, like customer conversion and purchasing.
Following the previous example, identifying and assigning values especially to pools of higher value customers — where the average order conversion is US$100 compared to the average US$20 — will help you more effectively determine where you should focus more of your customer outreach, than a more arbitrary marker.
2. Structure your campaign intelligently
This is all about going beyond the basics of blasting out your brand message to as many people as possible. A mobile feels more intimate than the desktop for many users, and that affects what they expect you as a company to deliver to them, especially in terms of service personalisation.
For example, no one wants to be fed the same mobile advertisement five times in a row; it feels so much more invasive than scrolling past a message on a desktop. Setting a reasonable frequency cap on your messaging can mean the difference between being top-of-mind, versus turning a customer off.
Knowing when to serve advertisements is another facet of your strategy that you need to pin down. Device preferences change across the day — is your message connecting with audiences when they’re more likely to be on their phone, or is it being lost in the window where people are predominantly logged in via other platforms? Using the data that you’ve already gathered on your customers, you should be able to see where and when they’re connected, and how best to reach them.
3. Insights: Know where to take action
Companies that effectively invest in analytics will be able to segment their current and potential customer bases and deliver messages that will truly engage. Using data to understand your consumers isn’t as simple as knowing what demographic categories they fall into — you also need to understand what their preferences are, and as previously mentioned, how they behave when they use different types of devices.
All this information can help you optimise your products and platforms, and get better engagement through targetting the right people with messages tailored the right way.
Measuring how long it takes for customers to provide a return on investment can also help you make much more intelligent decisions about the platforms from which you are acquiring new users.
If the costs of acquiring and converting customers is too high on one platform, it could be an indication of how well your marketing efforts are working (or not), or a sign that it might be more prudent to put more of your budget in a place that is performing better.
4. Understanding your analytics
Developing the ability to deliver a true end-to-end experience that seamlessly encompasses customer touchpoints is invaluable, and it also requires a great deal of coordination within your own company. Fostering a data- and analytics-friendly environment within your company and integrating digital into your overall business strategy is crucial to keep ahead of the rest of the competitive curve.
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Companies also have the responsibility to use the data that they have in a responsible fashion. You need to be accountable for the information that you own and provide value in exchange for this information in order to foster trust and confidence between your brand and its buyers. In both instances, training your staff in the theory and practice of analytics is one way to ensure everyone is on board.
There are huge opportunities to get through to customers on mobile, and if you take control with a good strategy now, you could get light years ahead of your competition.
The views expressed here are of the author’s, and e27 may not necessarily subscribe to them. e27 invites members from Asia’s tech industry and startup community to share their honest opinions and expert knowledge with our readers. If you are interested in sharing your point of view, please send us an email at elaine[at]e27[dot]co
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