Analytics
Analytics is the process which turns marketing statistics into meaningful data by translating transactional data into ROI values. If your statistics are not capturing transactional data, your statistics, no matter how beautiful they may be, are useless.
You might expect this section of our website to be simply addressing website statistics. While this topic is definitely included in this discussion, the discussion is in no way limited to that topic.
Life Time Value of a Customer Analysis
Rather, lets start with analyzing your LTV or the life time value of a customer. By knowing how much a customer is worth in terms of sales and net profit during the life of their transactions with your company, you can back engineer the maximum dollar amount you are willing to spend to acquire a customer. This is an important number to start with. Without this number you are simply guessing what the marketing budget should be based on what you think you can afford.
Competitive Analysis and Marketing Strategy Analysis
The second step in analysis is to determine your marketing strategy. Understanding your online competition and who is dominating the aspects of your market that make up your Unique Selling Position (USP) is a requirement for planning your online marketing strategy. This second step of analysis is performed by the VOMA (Vertical Online Market Analysis) module of Krakken.
The next aspect of your marketing strategy is to determine what online marketing avenues are ideal for your current situation. Are you in need of quick sales or are you interested in building your brand? Assuming you are in a position to do either or both, where is your marketing money best spent? Our multidimensional Pyramid of Promotion will assist you in determining methods of attack.
With plan of attack firmly in hand, the next analytical question is, "How should your marketing be choreographed?" The VOMA process mentioned above actually answers this question. It produces a set of market-defining keywords which we call the "Keyword DNA" of your USP. Choreographing your marketing is then simply a matter of skillfully braiding these Keyword DNA throughout your marketing campaign.
Log File Analysis
Ensure that the log file statistics for your entire marketing campaign can be segmented both by population and by terminology. Krakken's latest beta products do exactly this.
Analyze this data to increase your transactional velocity. Krakken does this automatically and emails a suite of reports. Currently under development, these reports will assist you in increasing the efficiency of your online marketing strategies.