Since the dawn of Digital Marketing Analytics software, choosing the right option has been akin to selecting a significant other. It’s a large and expensive commitment that you’ll inevitably be saddled with for multiple years, and would be very cumbersome to ‘divorce’. Industry standards say that you should keep your analytics software for at least three years. A recent CMO survey found that marketers spend 5.8% of their budget on analytics, and expect that number to almost triple to 17.3 % in the next three years. All these factors point to serious anxiety surrounding decision time for analytics software. What are the questions you should ask to find the right analytics solution provider? Let’s consider some factors that will hopefully lay the foundation for the selection process for your company’s dynamic needs.

Identify your needs

Every business is unique and has their own bottom line and goals- what are yours? While this may seem like an obvious and broad question, marketing departments (specifically analysts) often get caught up in minute details, and when it comes to selecting analytics software, identifying big picture goals should be the first step. There are many lists and articles out there comparing the top analytics software, and thousands of reviews- however what works for one company could be a disaster for another. Many services providers offer free demos, depending on your resources/bandwidth this might a valuable use of time. Delving into software first-hand during the shopping period will help insure that the provider is in line with your objectives. This brings us to the next question to ask during your research phase…

What is the current structure of your company?

It is imperative to fully understanding your company structure in relation to your analytics needs. Who on your team will be interacting with your analytics software, and how? What are the capabilities of your team; do you have an analyst (or multiple) on staff? If you are a smaller organization or your team lacks analytics know-how, you may be better suited focusing on ease-of-use, rather than a complex and robust platform.

The same questions need to be asked regarding your IT infrastructure. Where do you store your data? Do you have on-site solutions? Do you have technicians available to use as a resource? Most analytics software come with cloud-based services, and that might be the best option for your company depending on your initial assessment of infrastructure and tools available.

Connectivity & integration

Analytics automation should streamline all of your marketing channels on to one platform. When researching potential options, create an inventory of what you need to integrate; social networks, email, mobile, SEO, PPC, keywords, etc. etc., Make sure your new software not only seamlessly connects your marketing ecosystem, but provides easy to view multi-channel results for your campaigns.

ROI end game

We’ve all heard time and time again that ROI can be elusive to measure depending on your digital marketing strategy. Afterall, 68% of marketers say improving ROI measurability is the most important goal for a data management strategy. You need to have a specific benchmarks for your ROI, because implementing an automation software is just an additional expense and layer to your current marketing pursuits.

Can your potential analytics software help you achieve closed-loop marketing results? IE- monitor campaigns every step of the way, intuitively offer data on what works and what doesn’t, and produce reports for your results that you can take to the bank (or your leadership team).

What is your sales program?

The complexity of analytics software is completely dependent on your business model and customer lifecycle. What is the sales strategy for your service or product? Do you offer on-going services or post-purchase functionality for a product? If so, you might need to look for an analytics tool that will thoroughly analyze customer activity, and not just prospect leads. Depending on your overall marketing goals, you might be fine with software that offers compiled aggregate data as a whole. However it is much more beneficial if your software is able to track individual behavior. Going further on that same vein, does your company employ a CRM that needs to be integrated within your analytics platform?

Even if certain capabilities seem above your current need, forecast your expected growth and trajectory over the next three years. It’s always better to select a robust platform that you can grow into and will suit the needs of your burgeoning business.

Price and On-Going Cost: Transparency is Key

Hopefully assessing your budget for analytics software was the first task you completed, prior to any research. Yet even after your budget is established, it can be tricky to decipher the true cost for software, specifically initial investment and future costs. Multi-tiered pricing structures and support subscriptions can often be confusing. A vendor should be able to provide a clear roadmap to the total cost of software for the next three years, along with options on expansion, and additional features as needed. If a provider doesn’t offer a certain feature, but boasts about having a dedicated developer team to work on it, run for the hills. There are too many options available, that will have all the necessary bells and whistles you need, to waste time on software that’s mid-development.

If you don’t choose a mainstream large service, it’s imperative to research the company itself, beyond just their software offerings. You plan on utilizing the platform for the next three years, has this company even been operational for that amount of time? It’s really important to view your digital marketing analytics provider as a partner, rather than just a client-customer relationship, because you will be growing and evolving and hopefully they can assist you on that journey. 

Ready to shop?

Web analytics are a vital aspect in the development and optimization of your digital strategy. With the sheer number and complexity of available automation platforms, choosing the correct software is certainly a daunting task. If you ask yourself some of the above questions to lay the foundation for your needs, you will be able to confidently go into your search.