Which Half of your Marketing Dollars are You Wasting?
October 27 2011 by David Hunter
John Wanamaker famously said that “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.”
Most companies collect enormous amounts of data about their customers but few use this data effectively to improve their marketing efforts. Data about the results of marketing campaigns is often not turned into actionable reports and even then it often does not make it to an audience that can utilize the information. Luckily it is easier today to discover which half of your budget is being wasted.
Tools to analyze data and create interactive reports for distribution to wide audience have made it possible to make sense of the piles of data collected by companies. Until recently these tools were out of the price range of all but the largest users. Now with the advent of software as a service (SaaS) these powerful tools can fit into even the smallest budget.
Altair has partnered with one of the leading BI reporting tool providers to add online analytics and reporting to our suite of marketing services. Sonar provides the best information at the correct level, from the executive to the analyst. We have a proven track record of rolling out analytical dashboards that allow users to easily drill into the data and find where their marketing dollars are being misspent and how to place marketing budget effectively.
