Here’s How To Evaluate Marketing Performance in the Age of Hyper-Personalization
Are you a fictional genius who can memorize entire encyclopedias? Nor are we. That's why we created a new, innovative, single-view dashboard to help you manage your ever-increasing CRM personalization efforts. Here's a deeper look into the new "Mission Control"
You put more books on your shelves. So, yeah, you got more data. But, unless you’re Mike Ross from Suits, a fictional genius who can memorize entire encyclopedias, you may just also have a bigger mess. And less clarity into the data you own.
For sure, it’s becoming harder and harder to know what’s where. And the same goes for data-driven personalization – one of the most sought-after achievements in CRM marketing.
Effective personalization can increase the average customer LTV by 33%. But, while most marketers invest heavily in using more data to personalize their campaigns further, they often overlook a significant challenge that comes with that, which is the ability to monitor their entire marketing strategy and measure its impact successfully. And that’s just not effective enough.
You see, marketers have spent the past decade trying to aggregate their customer data into a single CDP that allows them to segment their customers in a way that surfaces valuable insights. As they begin to improve on that front, they often go from tens of customer segments and corresponding campaigns to hundreds and even thousands of them.
This scale in segments causes the number of overlapping campaigns to increase exponentially, and their insight into which campaign is being delivered to each customer and how each campaign performs becomes cloudy.
The time to clean up this mess has come. And now, so is the knowledge and tech to help with that.
Let’s see why and how.
Turning Personalization into a Strategic Advantage
Creating a data-driven, strategic, and personalized marketing plan that maximizes ROI requires you to understand several elements, such as:
- What is the impact of each of your campaigns?
- In recurring campaigns – are all campaigns performing equally? Is there an external factor that is influencing the performance of a specific occurrence?
- How are your realtime campaigns affecting your customers’ lifetime value?
- What is the effect of different channels on your customers?
- How many customers are receiving each of your campaigns?
- Are your campaigns being delivered, or are there technical or methodological errors preventing them from being executed?
And the list goes on and on.
In the past, you could wait for a periodic report, aggregating the impact of your campaigns from various channels. Today, as your personalization efforts expand – you need constant insight into what’s going on across the board. The more information you have about your customers, the more campaigns you will want to deliver – hence, the more elements you are going to have to monitor and analyze.
Doing so with hundreds or thousands of campaigns requires an innovative solution that aggregates all your execution data in one view. This kind of solution will allow you to monitor campaigns and measure performance and strategize your marketing plan based on your findings in an agile manner.
Scaling Personalization, and this time: Effectively
While this challenge may seem daunting, to support your scale in personalization, Optimove launched the Mission Control, a single view that aggregates data about all your marketing campaigns across all channels – empowering you to deliver personalized and effective marketing campaigns. By slicing and dicing, grouping and filtering, you gain easy access to any information you need about your campaigns at any given time.
For example, with the Mission Control, you can easily monitor your scheduled and realtime campaigns, identify which campaigns go out at any given moment, and understand how many customers you target with each one.
By aggregating the results of multiple campaign occurrences to a single row, you can get an overview of how each campaign is performing. By drilling down to each specific event, you can identify whether external factors or trends affect your efforts.
Furthermore, you can quickly sort campaigns to find your top-performing ones per channel or filter campaigns by segment, allowing you to identify your best and worst-performing campaigns.
As you scale your personalization efforts, the Mission Control will also leverage AI to serve valuable contextual insights that would otherwise go unnoticed.
And, in the off chance that you are NOT a fictional genius, gaining such insight into your marketing activities is incredibly vital. It provides you with a detailed performance overview. It allows you to maximize your efforts, make changes where necessary, and adopt successful habits from one segment to another. Such a clear, detailed, actionable dashboard is crucial for you to scale your personalization efforts effectively and deliver a top-notch marketing strategy that maximizes revenue from CRM marketing.