Stop Reporting on Shallow Data & Start Answering These 8 Questions
In 2015, if you start a marketing report with pageview numbers–you are selling your services short.
Digital marketing first began as an exciting addition to marketers’ toolkits. Suddenly, departments had the numbers to prove how many users were following along; and content and social marketing added to this celebration. Look how many fans we have! Our webpage is driving traffic, and our traffic is driving sales! It’s time to move paste shallow data and focus on rich data.
[highlight] What is shallow data? [/highlight]
Shallow data is the easily pulled number set that often maintains a stronghold on marketers’ attention. Pageviews, followers, fans, site visits – these are all metrics that support an outdated funnel method. The funnel method says you pour a large amount of marketing out and drip down into a single conversion.
[highlight] What is rich data? [/highlight]
Rich data begins with the conversion and seeks to answer the motivation behind a behavior. It aims to unlock user mentality for greater revenue insight.
Forbes outlined eight questions that focus on rich data:
- Who is coming to your site, and what are those people doing once they get there?
- What channels are driving buying customers?
- Who is converting?
- What conversions are deepening relationships?
- What conversions are driving revenue?
- Who is buying multiple times?
- What’s your lifetime customer value?
- What are your churn rates?
None of these questions are easily answered, so many marketers will waste time fiddling with shallow data. Yet in the digital world, where user insight grows daily – a successful marketer will retire the funnel and focus on actionable insights.