Five Steps Toward a Data-Driven Organization

Because analytics lets you measure your strategy and tactics, it gives you the ability to make decisions based on objective data. With analytics tools, you can carry out tests and see what actually works. You can compare campaigns and channels and then rank them by the generated revenues. Here are five steps for implementation of an analytics strategy:

1. Identify you business goals: These are the company's strategic goals, such as the company's unique value for customers.
2. Identify business decisions or actions to be taken: What campaigns and tactics can the company use to reach these goals?
3. Establish benchmarking: This includes the trends for the recent past. It also customer surveys, voice of customer (VOC), panel interviews, and competitive intelligence to determine the competition's market share and the company's position in relation to competitors.
4. Set a time frame for the goals: This depends on how quickly your organization can move. Generally, you should expect four to six weeks to get campaigns underway. Don't try to launch too many initiatives at first. Start with one or two; let everyone learn how they work, and ramp up slowly.
5. Measure the results: Determine the KPI's, develop reasonable budgets, and collect the data. See how you can measure customer engagement, customer satisfaction, and so on.

This is not a one-time process. You won't do this once and expect the issue to be settled. This becomes an ongoing process that is reviewed again and again. You continually reevaluate your company's goals and strategy, look into new channels (which seems to pop up every 15 minutes), and use your tools to manage your campaigns.

For more information on all your email marketing needs go to: Email Marketing Power