Why Journey Analytics Are Your Secret Marketing Ingredient
In recent years, the number of touchpoints a consumer interacts with on their path to purchase has exploded. It expands across multiple channels, devices, and apps, not to mention all the offline activity that occurs. In most cases, your marketing efforts are done by multiple teams and agencies that specialize in one area (Email, Search, Social, etc.) measuring the holistic effectiveness of marketing efforts across all these various channels, devices, and touchpoints is often lost. More importantly when you measure your results in those silos, you lose sight of the customer’s journey. In the past marketers fell back to attribution to understand holistically how their efforts were making an impact on the customer’s conversion path. However, attribution only the tells us part of the story and much context is lost. The right answer is to start incorporating journey analytics into your measurement strategy, you’ll start gain more clarity on the end to end customer experience.
What is Journey Analytics?
Journey analytics brings together all your customers multi-channel, cross-device touchpoints, and in some cases, offline engagements to give you a complete view of how your customers interact with your brand across their entire buying journey.
Complex Conversions Paths
Customer’s conversion paths are becoming more and more complex. We browse for information on multiple devices and through many different channels before making our final purchase conversions. Earlier this year while binge watching HG Network Home Improvement shows, I decided it was time to paint my kitchen. During one of the commercial breaks I saw an advertisement for a brand of paint that triggered me to pull out my phone and search Pinterest for further inspiration. This kicked off my journey to purchase the perfect paint for my kitchen. My journey lasted two months and spanned across seven different channels on three devices with three micro-conversions before the final purchase conversion. It looked something like this:
Most of the measurement tools you rely on are inefficient and not properly set up to measure complex journey’s like the one above. It’s very difficult to pull necessary data from Google Analytics and get a clear picture of all your customers’ journeys with your brand over time and across various marketing channels. It’s becoming a bit easier, with many companies filling in the gap left by standard tracking tools by providing platforms to stitch all your customer’s data together (Thunderhead, ClickFox, Google 360, IBM Journey Analytics). These tools work in combination with your analytics platform and give you a more universal view of your data.
Bring Context to your Data
Jeff Jonas from ClickFox often says, “unifying your customers journey analytics relationships start to emerge and context reveals the hidden stories.” Once you can analyze customers with similar journeys, you can start to dig deeper into what is influencing these customers to take the actions they have taken. Journey analytics can also be used to improve issues in the customer experience that may not have been uncovered when looking at individual events. Attribution tells you what channel was in the journey and where it was in the conversion path, but it will never tell you how useful the channel was without insights from journey analytics. When your data has context, this allows data analysts and data scientist to make better quality business recommendations. You’ll start to use your customer’s journey data to predict their next move and prepare the right offer at the right time. IBM’s Watson Marketing provides powerful tools for journey analytics. They’ve found that brands with strong ability to understand their customer journeys have a 104% higher conversion rate.
By harnessing the power of journey analytics, you’ll understand how your customers interact with your brand across multiple channels, devices, and touchpoints and it’ll also give you an opportunity at providing your customers with best experience possible.