What needs to be at the top of your Marketing and Analytics agenda for the coming year?
- The impact of inflation on business decisions:
Marketers are having to justify budgets more and be wise in decision making on how to spend that budget. This involves using channels that are the most cost effective and bring in the most sales or leads. Companies will also look to partner more and do affiliate marketing.
Attribution, which looks to show the most effective way to spend your budget across your channels will be critical. See our article from Howard on why attribution is today’s hot topic.
2. The cost of living crisis and what to do analytically:
With the cost of living crisis firmly impacting our lives, there is a more pertinent need to understand how that is impacting your customer base and sales, to change strategy accordingly.
Companies who don’t already might look at investing in augmented analytics, which looks at automating large amounts of data using AI and machine learning to provide real time insights for businesses to act upon.
Howard, also wrote an article on how Fusion have helped companies understand their results for the better
3. The impending transition to Google analytics 4
This was something we highlighted in our article here and the date the current google analytics will be switched over is July 2023. So if your business hasn’t already done so, you need to switch over to ensure the much needed historic data is stored. This will give you 6 months if you act in January.
4. The new government data protection rules
The government has confirmed in recent months they will be changing the data protection regime and digital protection rules. Our article here summarised the potential impact on Marketing. The final changes are yet to be announced, so one to monitor in the New Year and understand what it means to your business.