Big data has been the buzzword in marketing and business intelligence circles for the past several years. According to International Data Corporation, a global market intelligence provider, big data’s focus on ever-increasing amounts of data collection has turned it into a projected $125 billion a year industry. In fact, Salesforce CEO Mark Benioff claims that 90 percent of the world's data was created in the last two years. Benioff asserts that there will be 10 times more mobile data and 50 times more product data by the end of the decade. With this stunning projection, marketers must understand how to take full advantage of big data.
The marketing industry captures vast quantities of data on its customers and campaigns, including email opens, page views, and the amount of time customers spend on a Web page. While these are valuable data points, they only give insight into the "what." The more efficient use of big data is to help marketers identify the "why" behind a particular action or behavior. It's time to shift the focus from data collection to data analytics as a pathway to understanding the needs of our customers.
What does this mean, exactly, for execs marketing to healthcare professionals (HCPs)? In email campaigns, data is captured and compared to benchmarks, including:
- Percent of unique click-throughs
- Percent of clicks to landing page
- Percent of clicks by device
- Percent of clicks by specialty
These metrics explain what our customers are doing but offer no insight into why.
Research has consistently demonstrated the increasing trend toward mobile among HCPs. Mobile-use requires a different set of metrics to understand how marketing campaigns perform. After all, click-through rates don't measure mobile behavior. Tap-through rates, scan-through rates, and glance-through rates deliver value by measuring engagement on the devices that HCPs use most.
According to DMD data, mobile tap-through rates have been declining for the past 18 months. Further analysis shows that this decline is likely due to poorly designed campaigns that aren't optimized for mobile. In addition, research shows that the ratio of total opens to unique opens has increased from 1:1 in 2013 to 1:4 today, illustrating the rise in glance behavior. Today's HCPs tend to skim through their inbox on a mobile device and return to important emails on a tablet or PC later in the day.
Analyzing data to determine the ratio of opens to click-throughs also offers insight into why an email campaign succeeds or underperforms. For example, a high percentage of opens with a low percentage of clicks indicates a poorly designed call to action. This insight helps marketing execs know which element of the email needs to be changed and can quickly redesign to address shortcomings.
Digging deeper, if click-through rates were underperforming on mobile devices, healthcare marketers could conclude that the campaign was not optimized for mobile. On the other hand, low open rates paired with high click-throughs indicates a problem with the subject line or preheader.
Big data is here to stay and will continue to become more and more beneficial to healthcare marketers. Data collection that identifies the strengths and weaknesses of each campaign gives marketers the power to precisely modify them for improved results.