The Digitally Integrated Community
Art Meets Science
Business Science is the space where Marketing Insights are derived from Marketing Analytics: Art Meets Science. Here we identify consumer trends and behaviors to develop insights that will provide the roadmap to build actionable strategies.
Internet technologies have defined a data-driven paradigm that marketers now use to understand and engage with their consumers; we call this Digital Marketing. Though much relevant data is free, it needs to be mined (captured, cleaned, parsed, and analyzed). The data from various platforms (website, social, mobile, etc.) should be integrated in order to provide a panorama of digital streams (multichannel input). This process we call Business Science.
The level of data (information) that has been previously available to only large corporations (that could finance large IT departments) is now accessible to SMBs through Google Analytics. Supplemental data from social media networks and other internet platforms can be captured that add dimension to consumer behavior within your digital sphere.
The sources that are generating this information – absent personal identification (PI) data – are identifiable. Source data can be segmented as “ Personas” . This means that we can adjust the source information and observe causal relationships
“Buyer personas provide tremendous structure and insight for your company. A detailed buyer persona will help you determine where to focus your time, guide product development, and allow for alignment across the organization. As a result, you will be able to attract the most valuable visitors, leads, and customers to your business.”
The Definition of a Buyer Persona – in Under 100 Words – Sam Kusinitz, HubSpot
For example, through Google Analytics we can identify a website’s most popular landing page (hint: may not be the home page). We now know which page resonates most with your audience. Looking ‘up stream’ we can find which source was visited before the landing page, or the keywords that are driving traffic to this particular page.
We now have a causal relationship; ‘what is driving traffic to a particular page’. If we now make adjustments to the leading source (change the call to action or keyword strategy, for example) and determine if we can improve the traffic, we enter the world of Conversion Rate Optimization (CRO). This would be a tactic we might also want to consider for less popular pages. Incrementally, we begin to optimize traffic while we better understand the user connection (or, User Experience/UX) and engagement strategy. We have entered the realm of Business Science.