The case for Analytics

In today’s economic environment, marketers are faced with tough decisions. Many companies are cutting their marketing budgets, but unless they figure out a way to stop customer attrition, companies must continue to market. The question is: What should they give up?

In these difficult times, Analytics may be the best budget investment. The simplest definition of Analytics is "the science of analysis". Marketers may choose to make decisions based on past experiences or rules of thumb, or there might be other qualitative aspects to decision making. But, unless data is involved in the process, it would not be considered Analytics.

Analytics should play a vital role in the decision-making process. Analytics should be considered a "need to have" in tomorrow's economy. Marketers should never saddle themselves with cost-cutting decisions without first reviewing some type of performance indicators.

You may be using Analytics to measure the impact of your POS or shelf space program, measuring your media schedule against SKU movement. Yet,what Analystics are using to measure the efficacy of your sponsorships?

There are products to support your measurement of value against your sponsorship spend that will give you data to justify the spend and data on where to cut the spend. I invite you to look at the SponsorshipPro+ program and Pinpoint SES. Both products offer a cost effective method for determining accountability and value from your sponsored properties.