Everybody seems to be producing predictions for 2016. Not to be left behind, here are my digital marketing analytics predictions for 2016:
- Big data will increasingly stress marketing departments [Yana Trofimenko]
- Structured data will lead the SEO charge [Mark Proctor]
- Data integration will lead to sustained competitive advantage [Forbes]
- Data delivers deeper customer insights [PACE]
- Data from the entire customer journey build a brand [McKinsey]
Digital marketing analytics predictions
Big data will stress marketing departments
Here’s what Yana had to say about marketing departments handling data analytics:
Decision-making in digital marketing is increasingly being led by data, so there will be more pressure on marketing departments to understand how to use this data effectively to generate real insight. The increasing competition on all markets will make marketers look for smarter ways to overcome their competitors and please their customers.
Not only should marketers master descriptive analytics to ground decision-making, they need predictive analytics to segment markets so they can develop custom strategies that optimize market performance in each market.
Pricing practices also have to change. Airlines have been doing this for years — using yield management resulting in a wide range of different prices based on localized demand and timing. This on-demand pricing is spreading to other industries. I just heard something today on NPR regarding pricing changing on a minute by minute basis, which is possible in a world where real-time analytics can drive digital offers.
Currently, McKinsey Global estimates a deficit of over 2 million data analysts in the US over the next 4 years [if you’re looking for a job, analysts make six figures to start].
Mark highlights the impact of using structured data to tell Google exactly what content is where on a page — reducing incorrect guessing by the Google Bot and bringing in more SEO juice to your pages. While structured data isn’t particularly new, JSON now handles the tricky task of adding Schema microdata without having to add code to every section of every page in your template.
I ran into my pal, Shashi Bellamkonda at a holiday party the other day and he said he used to look at a large number of different data sources every day in his role as head of marketing for a large real estate developer. Now, he’s working for a DC-area startup using integrated data from many sources to fill your lead pipeline. No one has enough time or ability to do a good job of analyzing data that’s spread all over the place.
Most challenging for integration is building a single vision of a consumer using both online and offline data. Merging digital with offline data provides keener insights to help with lead scoring and nurturing, according to Forbes.