Understanding Data Types in Data Analytics

Year 2005 was arguably the most important year for data analytics.

In November 2005, Google launched their analytics service, after acquiring Urchin in April 2005.

Since then, data analytics has transformed the perspective of marketers around the globe.

Every time advertising ROI was discussed, below statement was quoted:

“Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”

 

Marketing cloud players like Oracle, Adobe & IBM are positioning their data analytics platforms just to address the above problem.

With data impacting every aspect of business, CMO’s believe their role is no longer restricted to brand marketing.

(Also Read: RIP CMO, VIVA CDO )

To understand this  further, we must know the types of data sets relevant in digital marketing.

Marketing Data TYPES

 

Data Analytics - Marketing Data Types

Marketing Data Types in Data Analytics

 

Usually, it needs an understanding of your customer journey, but most of the above data sets are common for various customer journeys.

For simplification, I have divided it into 2 broad segments:

Audience Data Analytics or Advertising Data

 

This data is usually acquired through multiple marketing touch points and it is also the most complex of all to interpret.

Most of this data is used for making better & faster marketing decisions.

You can divide audience data into following:

Market Research Data / Survey Data 

 

This data is acquired using primary and secondary sources to understand:

  • market competition analysis
  • audience behaviour in a category
  • offline communication effectiveness

It is extremely valuable for designing your brand communication.

Social Media Analytics Data

 

As more adults acquire smartphones, they’re spending an increasing amount of their time on social media.

Also Read : Time Spent on Social Media – By Nielsen

Social Analytics Tools

Social data analytics tools offers a deep insights about the life and preferences of modern day digital audience in the form of following data sets:

  • Audience Interest – what are their likings and dis-likings etc.
  • Affinity / Behavioural Data – Content consumption behaviour
  • Category Conversations – what are they talking about or discussing?
  • Brand Sentiment – benchmarking sentiment against different competitors.
Search Analytics Data or Intent Data

 

While social data helps us to understand their content consumption behaviour, search data helps us understand current market trends and brand preference.

First, to fully understand search data and its impact, one must know how to use Google Trends (see below)

Second, SEO data can be obtained from either the google webmaster tool or your own Google Analytics account.

This data further helps you to find out:

  • Key audience searches in your category
  • Competition brand preference
  • Content ideas for blog and social media
Website Analytics Data

 

If planned well (Read this post by Avinash Kaushik) , this data type can offer the most in-depth amount of insights to any marketing team.

Any website analytics tool (like Google Analytics or Kiss Metrics) allows you to find out:

  • Quality of your assets (like blog) and content (videos)
  • Quality of your landing pages ( UI and UX )
  • Audience customer journeys
  • Conversion Attribution (if you are generating lead or e-commerce)
  • Digital Marketing Campaign Effectiveness
  • Key Traffic sources
  • Return on marketing Investment

Customer Data or CRM Data

 

This data is extremely sensitive from a digital privacy standpoint.

It is very important to capture this data in the right format and keep it updated & consistent.

Top CRM Tools

Top CRM Tools

The customer data is often stored inside a CRM tools ( see above  )

Modern CRM tools can captures and store the following information in an actionable manner:

  • Customer PII ( Personal Identifiable Information like Name, Gender, Email, Contact etc )
  • Purchase Data – Details of all the products / service purchased
  • Loyalty Data – contains details connected to any customer loyalty program customer has subscribed to.

Digital data analytics can offer very deep insights, but only if you plan your data priorities in advance and also choose the matching tools at each stage of your marketing.

9 Digital Marketing Trends ‘relevant’ for every Indian CMO

Finding the most relevant and unbiased digital marketing trends in India is quite a task for marketers and digital strategists.

Unlike some of the evolved western markets, digital media research is not taken seriously in India. Most of the published studies are sponsored by a SAAS technology player like IBM/Adobe/CISCO etc., which often gives a very biased POV about the digital landscape in India.

Due to lack of India specific trends and insights, most of the Digital marketing trends used by the digital agencies, are global macro indicators which may of may not have any implication for their Indian client.

Needless to remind, as a market, India is an aberration for many reasons.

While most of the digital evangelists keep repeating the same old boring numbers around growth of digital in India, Internet penetration, mobile usage, e-commerce transactions etc., hardly anyone goes beyond the 30,000 feet view to offer more actionable insight to the brands.

Also Read4 Digital Trends which are utterly useless for any CMO in 2017

There are a ton of 3rd party digital trend reports published by various media research companies, digital consulting companies, digital media agencies and marketing tech providers. Often a lot of data is colliding and contradictory.  Also, other than the fact, that everyone is talking about some really “Big Numbers”, there is very little unique insight you can draw from each report.

Out of all, Mary Meeker’s Internet Trends report is perhaps the most comprehensive and much discussed in the mainstream business media.

If you are an Indian client,  even that requires a bit of curation. With so much of visual data mentioned in the reports, marketers have a tendency to miss out on simple digital insights which could bring much needed focus to their digital marketing efforts.

Below are 9 digital marketing trends (and corresponding insights) which are super relevant for every Indian brand.

Digital Marketing Trends For Indian CMO

Forget the Desktop

With 80% share in the overall web traffic, Mobile is no more just a ‘part of strategy’. Mobile is the “STRATEGY”

( Also Read : How to approach mobile as a CMO? )

Social Media is becoming a black hole

According to Times DMA Asia CMO Survey, while social media is getting a lion’s share (~35%) in the overall digital marketing budget(including content production). over 1/3rd of CMOs feel that there is immediate need to bring better attribution to their social media efforts.

Clarity on Digital Measurement Metrics would be the most important area of focus in the coming years.

Voice Search would soon replace text

Thanks to enhanced NLP in android assistant and Apple Siri, 70% voice searches are based on natural conversation language.

According to a recent Google release, over 20% search queries have moved to #voice . Clearly, this would have a serious impact on near future digital marketing efforts. SEO & Content teams should start looking for cues in the natural language.

Digital Audience Hate Advertising

According to Mary Meeker study, 1/3rd mobile users are using some or the other ad-blocking app on their phone. Almost a similar number is willing to pay for the content to get rid of ads. Continuously falling CTRs and increased subscribers for OTTs are a case in point, that digital audience hates pure advertising,

In order to stay relevant and get higher engagement, brands must offer more content, less advertising.

Local + Vernacular Content

Local & Vernacular are climbing the charts across all digital studies.  Demand for local and vernacular content is going up YOY. Almost 50% of the current content consumed in India is ‘non English’

Creating ads in multiple languages and tailoring the message for different regions and audience segment is no longer optional if you are looking for wider audience reach.

Audience Trends

Millennial First Audience

Young Millennials are controlling the web, 65% of digital users are in the age group of 15-34 which makes 35% of total population. With such a huge and exponentially rising share in the overall digital landscape, young millennials needs special care during planning.

Every brand must try to gather audience specific trends (especially their digital customer journey) to craft their Millennial First strategy.

Customer Journey Matter More Than You Think

No of customers who stop doing business with a brand after single poor experience is going up every year. Omni-channel customer experience can’t be a non- priority anymore.

Honestly, as a brand, you should stop fiddling with the idea of doing digital. If you are doing digital, you must be prepared to optimise every aspect of your audience’s digital footprint that matters.