Future Learn Digital Analysis Notes for Week Two

This was only a two week short course, but the same provider is running a number of other free courses via Future Learn that I will be looking at! Though I only ended up writing a small amount of notes, it was still a great, quick way to keep myself refreshed on marketing and research techniques, some of which I might need to use in my job very soon.

Week two: Segmentation

This is splitting your followers into groups according to their behaviours and preferences in order to market the right products to them.

In order to build these segments and to analyse whether they are working for you, you have to build context into your data, by creating both internal and external benchmarks, so you can compare your current success both to previous data and to the success other your competitors.

  • Missions statements, a successful company generally has a customer-oriented one
  • A strategy should be focussed on the specifics of the business and what makes it unique
  • KPIs need to be tangible measurements and numbers, relevant to your strategy
  • Once you know how a customer came to your company (via an offer, website etc) you can start to build a profile and segment your demographics

There will always be challenges in acquiring data – some of it may be incomplete or wrong, so try to focus on the overall pattern and what it tells you.

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Future Learn Digital Analysis Notes for Week One

I’m back on the Future Learn train again! This time, I’m taking a short fortnight-long course in Digital Analytics, and as always I’ve been making notes for a blog post out of the first week of course material.

Data

Data is everything that you collect as research, but analytics are primarily concerned with the numbers.

The power of digital analytics is mostly in measuring behaviour. There has been an explosion of data as it is much easier to collect and store with modern computers.

There are four types of analysis.

Descriptive –> What has happened?
Diagnostic –> Why has it happened?
Predictive –> What will happen?
Prescriptive –> What can happen?

We have analytics in many areas now that we didn’t have before, and we have improved our techniques in many areas. Knowing where your business is up to enables you to make better business decisions based on quantifiable facts.

To use analytics effectively, you need a definitive problem and an set of answers, as well as a defined measure of success.

Metrics

A key website metric for businesses is of course conversions – which the course defines as

An activity on your site that is important to the success of your business

This is more than how many people look at your site, it is how they engage with it. These metrics indicate what is and isn’t working in your website and marketing strategy.

The course defines two types of conversion – micro and macro.

Micro Macro
Following on twitter Purchasing a product

Metrics need to be continually reviews and checked over to ensure that you are still getting the right answers and acting on them – it is a process of constant improvement.

Finding a Balance

One of the most important recent parts of digital marketing, at least as far as I’ve found, is finding the balance between putting your eggs in too few or too many baskets.

There’s plenty of evidence that having too many social media platforms, websites, basically digital spaces in general, means that your general content and engagement will suffer because you can’t possibly be active and interesting on that many sites. It also simply isn’t worth the time spent to maintain small groups followers and communities across many platforms when you could have a larger group on two or three.

However, there is the problem that if you use one platform that works well for you, you’re then at the mercy of that site and any changes to that site could make you inflexible. For example, recent  companies, political parties etc. have been complaining about how the changes to Facebook to promote more content from friends and families instead of brands.  Where they have been used to spending vast amounts of money to good effect, the changes have made it much harder to run good marketing campaigns. No doubt this is make many people look harder at alternative options, which is fine if you already have an organic base of followers elsewhere to start with, starting is scratch is difficult and takes time.