The latest perspectives on data, sales, and customer success
A common request we hear from our users is, “How do I use 360-degree customer views to generate more accurate or detailed marketing attribution reports?”
Because Canopy Labs’ platform tracks a company’s website activity as well as purchases, subscriptions, or other transactions, we actually enable an extremely versatile way to generate such reports. Today, we’ll show you two examples of marketing attribution using our new platform: one shows how to create a basic attribution funnel, while the second demonstrates how to generate reports for multi-touch and omnichannel marketing strategies.
Basic Attribution Funnel
Over the past few months, we have been working on a completely revamped front-end for the Canopy Labs platform. This includes a fully flexible and customizable funnel analytics query engine. You can select a few actions you want to report on, and we’ll generate customer lists and reports based on everyone who has experienced such a customer journey. Here’s a short video:
Over the past several years, the Canopy Labs team has interacted with a number of financial services companies — in banking and in broader services, such as insurance and management consulting. Our experiences have given us a look into just how similar most analytics capabilities are within these companies, and to think of some opportunities to grow the effectiveness of their models and predictions. With that in mind, we’d like to share a few ideas that have yet to be in widespread use in financial services and represent opportunities for a bank or credit union to differentiate themselves. Here are three growing opportunities in analytics for financial services.
According to Econsultancy, 94% of businesses now recognize that personalization is “critical to their current and future success”. Here at Canopy, we’re excited to hear the idea of personalization being embraced by more and more businesses. But what exactly do most marketers mean when they talk about implementing personalization – and is it going far enough to achieve their business goals?
Black Friday and Cyber Monday represent the biggest sales days of the year – according to Oracle, consumers spent more than $2.9 billion online in the two days alone in 2013. In the UK, consumers are expected to spend a whopping £360,000 per minute for Black Friday this year, and Shop.org predicts an 8-11% increase in holiday spending across November and December.
If your business has been hard at work over the past few weeks promoting Black Friday and Cyber Monday discounts, the last thing you want to encounter is a website outage on the most important weekend of the year. Some of our customers generate nearly 50% of their annual revenue during the holiday period, so every moment lost due to web performance issues can have a major impact on the year’s revenue numbers. Worst of all, your competitors are likely benefiting from customers who were originally planning to purchase from your business.
This month, as part of UNTETHER.tv’s series on highlighting innovations in marketing and the mobile space, our CEO Wojciech Gryc joined Rob Woodbridge to discuss why personalization is key to driving revenue in today’s retail landscape.
As Gryc notes, many companies are actually closer to operationalizing their data than they might think: “It’s really amazing how many data sources a business has access to without always knowing. If you’re sending emails, you can track them, if you aren’t doing so already; likewise, your website visitors are generating browsing data as well. Most marketers don’t realize that they could use all of that for marketing and sales.”
Earlier this September, we wrote about the importance of fostering a company culture that embraces data to drive revenue and improve organizational practices. The article generated a great deal of discussion and feedback across our online communities, and we were fortunate to have many industry leaders weigh in with their own experiences. We reached out to a few of them to hear a bit more about their own stories and perspectives.
Today, we speak with Flora Lewin of B-Pro on how to use data to shape company strategy, as well as some common strategy mistakes and pitfalls that organizations can avoid.
Future marketing analytics tools should tell us what elements of a customer funnel experience are hurting conversions as soon as they start doing so, not after they affect your company’s top-line revenue numbers.
By now, nearly every forward-thinking retailer is using marketing automation, personalization technologies, and some form of business intelligence. Unfortunately, these approaches remain labour intensive and still make it difficult to understand what exactly your customers are experiencing day-to-day. Marketers may not be manually sending emails anymore, but something still feels missing in the larger marketing process.
Thanksgiving and Black Friday may be another three weeks away, but many retailers are starting this holiday season a month early. Indeed, Walmart and Amazon launched their first round of holiday sales on November 1, and many others are following suit.
To prepare retailers for the competitive holiday season, we are launching our free Black Friday + Cyber Monday checklist. This document helps you assess your team’s marketing and operational readiness for the holiday rush, and highlights many common holiday mistakes and oversights that your team can avoid.