Four Industries to Benefit from Upstream Analytics and How You Can Benefit, Too
These Upstream Analytics solutions analyze online behavioral data to show marketers what their audience does online prior to taking a specific action such as purchasing a product, converting, or achieving some other key performance indicator. By using these solutions, marketers get aggregated counts by device of the domains and URLS visited by their audience before completing the KPI.
If you need insights that will help you grow, then Upstream Analytics is a must. Here’s how it benefits marketers in e-commerce, travel, media & entertainment, and CPG industries:
One effective way to grow an e-commerce site is to get more exposure in the target customer’s research/discovery/shopping path and then optimize that exposure. Currently, it’s very difficult to know where your consumers are spending time prior to the direct referring site. With Upstream Analytics, e-commerce brands can learn about the consumption habits of their customers, such as which YouTube channels they visit, which news sites or articles they read, which social networks they use, which influencer profiles they visit, which streaming TV services they watch, which coupon sites they use, and even which individual coupon pages are the most popular.
Then, they can create an optimal presence for the e-commerce site within the discovery path by developing a cohesive and targeted online strategy. This could influence PR activities, video advertising, display advertising, affiliate marketing, and social media strategy. In short, Upstream Analytics provides a lot of avenues for follow-up and growth.
Expanding a travel site presence works similarly except for the added complexity of understanding the off-site conversions that happen on online travel agency (OTA) sites. If a hotel, airline, or rental car company wants to understand the research/discovery/shopping path of its customers, it has to understand the path for its own site and for all OTA sites where bookings occur.
Travel marketers can deal with this complexity by getting Focused Upstream Analytics data for different types of online booking channels. One set of upstream data could cover sites and URLS in the conversion path leading up to purchases on the brand site. Another set could cover sites and URLs in the conversion path on a leading OTA site like Expedia. Two more sets of upstream data could do the same for purchases of a competing travel brand. Just these four data sets make it possible to compare the online behaviors of your competitor’s on-site and OTA customers to the online behaviors of your own on-site and OTA customers.
Media & Entertainment
Companies in the M&E space can use Upstream Analytics in a lot of fascinating ways.
Leading streaming sites like Netflix, Hulu, and Amazon Prime can use it to understand what people are doing before they watch a specific show. Hulu, for instance, could look back from season one viewers of The Handmaid’s Tale to learn about this show’s audience and develop a strategy to maintain grow viewership when the second season debuts in 2018. Similarly, Amazon Prime can look back from season four viewers of House of Cards and use the insights to attract more viewers to season five, which debuts this month.
Or, take a movie studio who has just put out the first trailer for an anticipated blockbuster film. They can look back from the KPI of completed views on the video trailer to understand the online behavior of this audience of likely moviegoers.
Also, consider how a streaming video provider that has expanded their catalog in a specific category can use Upstream Analytics. They can look back from the KPI of subscription conversions for video services dedicated to the category in order to understand the type of people the new category will appeal to. A service expanding into the horror category could look back from subscription conversions on Shudder.com while a service expanding into the documentary category could look back from subscription conversions on Tribeca Shortlist.
Upstream Analytics should be essential for some categories of CPG because purchase behaviors are changing fast in this area. Total online CPG sales surpassed $10 billion in 2016 representing an annual growth rate of 36%, according to 1010data. Just some of the reasons for this growth include better checkout experiences online, the prevalence of fast shipment options, and the rise of online grocery services like Amazon Prime Pantry and Walmart Grocery.
Let’s say you’re a brand manager for a CPG product. You could look at the difference between the online behaviors of customers who bought your product from a service like Amazon Prime Pantry versus a service like Walmart Grocery. This can influence how your company manages its relationships with these distributors. Or, when a new brand like Amazon Elements pops up with a competing product, you can study the online behavior of people who are trying the new product in order to learn what makes them tick and understand Amazon’s go-to-market strategy. Similarly, you can study the online behavior of people buying any competing product. This will give you ideas for how to appeal to these customers. Finally, you can study the sites and URLs visited by your own customers and then align your outreach and engagement with customers directly with their shared interests.
Bottom line: As marketing professionals in every industry start to use Upstream Analytics, they won’t want to give up this capability. It’s far too insightful and actionable. Upstream Analytics is a new capability in the analytics space right now, but it won’t be for long. You can be among those who use it first by working with Jumpshot.