Trend analysis. Conjoint analysis. Regression analysis. Factor analysis.
Know what they are? Know when to use them? (No peeking at Google.)
Many of your colleagues don’t either. But they (and you) may soon be expected to. Here’s why:
By 2015, companies are expected to increase their marketing analytics budgets by 60% over 2012 spending, from 5.7% to 9.1%. That’s according to the CMO Survey conducted by survey.org.
It may seem like small potatoes, but it’s actually huge when you factor in (pun intended) the additional finding that nearly 63% of today’s decision makers currently do not use marketing analytics.
Why? There’s a lot of speculation out there, with a common hypothesis being that CXOs don’t really understand marketing analytics; thus, they kinda ignore the topic altogether.
Regardless, the good news is that Stephan Sorger can get you, your colleagues, and anyone else up and running with marketing analytics essentials in a single work week.
Sorger is the VP of Strategic Marketing at On Demand Advisors, and he teaches marketing analytics as an Adjunct Faculty member for the USF MBA program and at the San Francisco extension of UC Berkeley. His 5-Step approach (corresponding to the 5 days of the work week) is laid out in his new book, “Marketing Analytics: Strategic Models and Metrics.”
At 500 pages, it’s got impressive thud. But you can get a practical overview in Sorger’s one-hour eWorkshop, Marketing Analytics in a Week available now on demand.
Using an actual marketing analytics project as the running backdrop, Sorger walks you through the logic and practical use of his 5-step approach, starting with level-setting (definitions, trends, and advantages), and proceeding through the goals and action items for each of the week days.
Why a week?
Because it follows the Goldilocks principle: It’s just right.
According to Sorger, “A week is a great timeframe that balances the project scope with our appetite for quick results. A day is not long enough for learning much of anything and a month – or more – is not feasible. A week is enough time to lay a foundation and let you digest small initiatives without feeling like a huge time sink.”
Interested? If so, this on-demand eWorkshop will give you a peek behind the curtain and help you quickly execute some of your current projects in as little as one week:
- Monday – State clear definitions, success criteria and your business cases
- Tuesday – Identify the right people for the job
- Wednesday – Prepare high-quality data, and remember the GIGO principle
- Thursday – Be on the lookout for data patterns
- Friday – Develop presentations that scream Action and Insight
Ready to trade 60 minutes for 40 hours’ worth of knowledge that will make your marketing life easier?