Digital Marketers struggle to transform data into actionable information.
Marketing departments at online businesses are drowning in data.
Nowadays, they monitor every mouse click on a Web page and every step in an online chat.
But how useful is all of the data?
In many cases, not very.
So why is that?
Most marketing applications provide managers with a wide range of metrics that they need to cobble together themselves to create an accurate picture of the customer journey.
What they need is a tool that does that work for them.
Every day that passes, companies generate more data than ever before.
By 2025, the world will have accumulated 180 Zettabytes (ZB) (1 trillion G bytes) of data.
To put this into perspective, there were 10 ZBs accumulated in 2015, according to market research firm International Data Corp.
By itself, data is often more cumbersome than helpful.
For instance, autonomous data points usually do not tell marketers how effective or ineffective a program was in driving new online customer acquisitions.
Instead, the tools provide only a piece of the acquisition process, for instance outlining how long a person stayed on a Web page.
What happened next is unclear.
Companies want to know more – ideally much more – than who visits their site.
They want tools that differentiate between browsers and buyers.
Current solutions do not tell digital marketers what collateral material convinced a customer to buy, because they treat each Web visit as an autonomous event.
Another shortcoming is products do not differentiate among effective and ineffective initiatives.
These solutions lack easy-to-follow, actionable performance metrics.
Instead, they collect lots of information, but do not clearly link items like webpage design to meaningful business measurements, such as converting a visitor into a customer.
The problem is information is collected and presented in individual blobs: How long a person is on a Web page, or the number of clicks on a hyperlink.
The onus of transforming the blobs of information into actionable insights falls on the marketer’s shoulders.
Because tools collect so much data, managers often find themselves overwhelmed by the growing volumes of information collected.
They don’t know where to start to draw connections among the many different data points.
One result of this is that marketing spend and its effectiveness are often disjointed.
Firms put money into new initiatives, but they find it impossible to track the return on their investments (ROI).
The success or failure revolves more around gut feelings than tangible results.
Consequently, they have trouble growing their customer base and deepening penetration into their target audience.
In sum, traditional marketing tools do not deliver all the capabilities needed today.
Instead, they were built to address yesterday’s challenge.
Most tools collect and consolidate information generated at various points along the customer journey.
And although these solutions provide pieces of the customer interaction, they are not a complete picture of what’s happening.
Marketers desire actionable information.
For example, data points that illustrate how well or not so well web pages, advertisements, and campaigns work.
They require a sales growth acceleration tool, one that empowers them to visualize the customer journey from start to finish.
This solution gathers information about the customer journey and then presents a complete picture to them in an easy to follow, intuitive, graphic way.
Such a product highlights marketing steps that work as well as those that miss the mark.
With it, businesses maximize their investments.
For example, the product points to a step on a Web e-commerce site where customers get stuck and leave the site.
After examining such interactions, an analyst takes a closer look, evaluates the website design, takes steps to eliminate the friction, and increases sales.
With the new solution, executives are able to experiment: take actionable information, generate new ideas, and improve the marketing process.
If an enterprise wants to convert more browsers to buyers, perhaps, they offer a coupon after a customer spends a few minutes browsing its merchandise.
Another possibility is bundling certain items, offering a slight discount on the package, and driving sales of both items.
An online bookstore took a multi-pronged approach to reach out to customers.
They launched a new store for students only, changed their email-marketing messaging, and created a referral program.
Previously, they were not sure how effective each program was.
Now, they track the cost and sales of each one.
After three months, the student store accounts for close to 65% of sales and only 40% of their costs
So the firm invests more in that channel, while capping expenses for the other two.
The site visitor who purchases a low-cost item on occasion is not as valuable as the one who regularly buys premium products.
Corporations identify programs with the highest user engagement and highest lifetime values.
They understand the connection between their marketing costs and the impact different customers have on the bottom line.
They pump more money into campaigns that increase satisfaction among the premium buyers and lower spending on those that are not as effective.
Marketers now have more data at their fingertips than ever before.
The problem is the information is not directly tied to business results.
Digital marketers need a tool that provides them with graphic depictions of the effectiveness of their marketing programs.
CXMap is such a solution.
The product changes how digital marketers view data, allowing them to spend more time fine-tuning and less time trying to wrap their head around multiple sets of data.
By changing how digital marketers view data, they can easily identify bottlenecks and quickly make changes that generate more qualified leads, increase customer conversion rates, and boost profit margins.