Buzz from Omniture Summit: Challenges in Online Marketing
Two weeks ago I attended the annual Omniture conference in Salt Lake City. I was impressed by the number of attendees and had the opportunity to talk to many of them about the challenges that they are facing. I heard that they were struggling with how to leverage web analytics data for more actionable analytics and be able to measure the targeting and segmentation.
In keeping to the theme to meet marketer's challenges, Omniture toolsets are expanding from web analytics to a true optimization toolsets capabilities. There were several discussions that focused on segmentation and analytic strategies as well as capabilities to leverage testing. Based on Quaero's experience with ESPN, and the discussions that I had with several marketers in the conference, marketers are feeling compelled to merge their offline and online data and use predictive analytics for their targeting and segmentation capabilities. Quaero's case study presentation with ESPN attempted to help answer this challenge. There was a lot of interest in understanding how Quaero used Omniture tools to build sophisticated segmentation and analytics to drive fan value and monetize ad revenues for ESPN.
Also I heard attendees vocalize the need for measurement of their marketing programs and how marketers are increasingly focusing on measurable impact of ROI on marketing programs. Attendees repeatedly expressed the need for online marketing to become more results focused and ROI driven. One of the best examples of this was from the Best Buy business case shared during the opening remarks which provided an opportunity to get a better understanding of the Discover on Premise product and demonstrated how Best Buy was able to look at their Black Friday Sales within 2 days of the event. This allowed them to alter their strategy for the holiday season, which they had been unable to do in the past years as the measurement data was not available for months. With the capability to align marketing strategy with the results from Black Friday, Best Buy allowed for greater sales during the holiday shopping cycle.
In today's challenging economy it's not surprising that marketers top concerns are related to securing measurement and driving value. It will be interesting to evaluate the different approaches marketers take to achieve these needs. Will innovation provide the solution? Or is it about getting back to basics?
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