Marketers should exploit cross-channel analytics to gain value on their business data tools, an expert has advised.
Marketing specialist Laura Patterson, author of Metrics in Action, explained that cross-channel analytics add value to firms’ forecasting, modelling capabilities and predictive analytics.
Writing in Marketing Profs, she said creating and using forecasting algorithms from both digital and traditional channels enables marketers to estimate sales based on the changing nature of customer behaviour.
Ms Patterson pointed out that the statistical models marketers build will also allow them to determine a level of confidence relating to the behaviours of various buying segments.
“As your analytical and cross-channel analytics capabilities improve, you will be able to develop models that can predict traffic and revenue impact associated with changes in the communication mix,” she said.
These models will then be able to be used to make real-time adjustment to keyword used in pay-per-click marketing efforts.
Tink Taylor, managing director of dotMailer, recently predicted that cross-channel marketing strategies are expected to rise in 2010.