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Marketing teams are tasked with the immense responsibility of driving brands’ success in the cutthroat world of business. They are constantly on the lookout for ways to increase the effectiveness of their marketing programs and maximize their marketing budgets. It’s a pressure cooker of a job where even the slightest misstep can lead to disastrous consequences.
However, despite the pressure, most marketing teams often fall into the trap of measuring just surface-level metrics, such as click-through rates, cost per click (CPC), cost per thousand (CPM), and cost per action (CPA). Don’t get us wrong — these are great, but you need to delve deeper to conduct an actual in-depth analysis.
When it comes to understanding your customers, one size does not fit all. Grouping all customers together is a recipe for disaster, as it ignores the rich diversity of individual preferences and behaviors that make each target audience unique.
One powerful tool at your disposal is the combination of customer segmentation with higher-level analyses comparing customer acquisition costs (CAC) to customer lifetime value (LTV). This approach allows businesses to gain a deep understanding of their customers, and determine which segments are most profitable.
Businesses can identify pockets of highly efficient marketing spend by analyzing customer acquisition efforts at this level. This information is crucial for making informed decisions.
Delve deeper into cohorts, and do so far beyond what most marketers typically consider. While standard segments should be considered as well, don’t stop there. Explore various combinations of segments and test your hypotheses. Identify which pockets of spending drive the most value and which do not.
For example:
Pulling all this data together can be painful. If you are employing a marketing agency to control marketing budgets, their specialists usually can only access ad platforms, while ad servers, CRMs, and back-end billing systems stay overlooked. Plus, some of these firms might charge serious fees.
AINSYS integration framework syncs data between every tool and platform your marketing team employs in their work, helping you get an accurate true picture of customer acquisition economics. View your end-to-end analytics all in one place.
To quickly integrate your systems and activate this type of advanced metrics, AINSYS specialists have developed the perfect integration template:
You can now view and compare all your metrics in a number of dashboards that allow for easy data exploration with ready-to-use AINSYS templates.
Adopting this system is a revelatory experience for marketers, as it allows them to extract maximum value from every marketing dollar. It quickly becomes evident that even within seemingly profitable campaigns, there are pockets of highly profitable and underperforming spend.
