There are many ways to sell data analytics services, but let’s start by talking about the broad strokes of the process itself first. In this blog post we will discuss what it means to be an agency that sells data analytics services, and then we will talk about the sales process in more detail. We will also give you some tips on how to find clients who need data analytics services!
DATA ANALYTICS — A QUICK OVERVIEW
Analytics is the process of applying scientific/statistical concepts and methods to data in order to derive information and knowledge. It enables researchers to look at existing data in a new way, revealing previously unseen patterns, trends or relationships.
Without the scientific or statistical concepts applied, most ‘data-driven’ decisions are as good as a random guess.
This is why it’s so critical to have someone at the data helm who understands these concepts.
A lot of analysts, however, are spending their time in technical tasks like data cleanup or implementation
They are focused on activities that are necessary, but not necessarily conducive to growth. Additionally, few agency clients can afford to pay all those billable hours to get the two jobs done.
What is there were budget to do both the technical tasks and do the value add analysis?
Most agencies fail to realize that the addition of analytics research leads to organic growth of literally everything else.
MOST AGENCIES DON’T EMPHASIZE DATA. ONLY 5% OF AGENCIES PUT ANALYTICS IN THEIR TOP 3 SERVICES.
Given how much we hear about big data, you’d think more agencies would be offering data analytics services. However, a survey of digital agencies found that only 5% list data analytics in their top 3 services, while 44% don’t even offer it as a service at all.
The growth potential for agencies is huge. 46% of marketers are increasing budget to customer insights/analytics — the second highest service after general digital experience.
42% of marketers plan to increase spending on customer insights/analytics services in 2016, and 46% will increase spending on analytics/big data consultants. (Source: State of Inbound 2015 report by HubSpot). It’s clear that marketers will start to demand stronger data capabilities from their agencies.
DATA ANALYSIS PAIRS WELL WITH ALMOST ANY CREATIVE OFFERING — BENEFITS LIKE SHOWING PROGRESS OF A CURRENT CAMPAIGN OR JUSTIFYING THE NEXT SOW.
If you’re a creative agency, data analytics is a must-have service. Whether your clients need to see current progress of an existing campaign or justifying future purchases, data analytics can be paired with just about any creative offering. Now that we’ve established why agencies should use data analytics, how do they go about selling it? Here are four tips for working with companies on a data analytics retainer. These tips apply to agencies and in-house marketing teams alike.
1) SELL IN A DISCOVERY FOR THE CURRENT STATE OF DATA AND REPORTING
Gain access to your customers’ data analytics needs by running a discovery. During a discovery, you’ll ask questions around what data your customers have and how they use it. From there, you can develop an understanding of their business requirements, data sources, challenges and pain points so that you can create a solution tailored to them.
2) PITCH A PROJECT TO CLEAN UP THEIR TAGGING IMPLEMENTATION OF EITHER GOOGLE ANALYTICS OR ADOBE
Even if you already do web analytics for your clients, pitch a project to clean up their tagging implementation of either Google Analytics or Adobe. Client-side often have only one person with experience setting up Google Tag Manager or Adobe Tag Manager accounts, and many times they are still using templates and not customizing it for each client. Clients may not know what they are paying for, which makes it easier to talk about the pain points of data abysse.
3) PROVIDE REGULAR STATISTICAL ANALYSIS FOR WHAT INCREASES MARKETING PERFORMANCE. NOT JUST A DASHBOARD.
Retainers are an important part of marketing analytics. A lot of agencies provide dashboards, which is only a small part of what clients need to take actionable data and turn it into marketing performance improvements. To be successful in building data-driven marketing retainer relationships, you’ll have to go beyond providing just dashboards and make sure you’re giving your client regular statistical analysis for what increases conversion rates.
4) INCREASE THE RETAINER BY PITCHING THE DATA-DRIVEN STRATEGIES
Agency growth is dependant on increasing retained relationships. Whether you’re trying to retain a client or snag a new one, the best way to increase a retainer is by pitching data-driven strategies. In short, show them how they’ll get more value from your work than they would from their own resources. Not only does it solve their problem—they can save money by hiring you instead of taking it in-house—but it positions you as an expert worth retaining for future projects.
WE KNOW ANALYSTS ARE EXPENSIVE AND HARD TO HIRE, HARD TO SCALE.
Selling data analytics services for businesses can be tricky. It’s not a cheap service, and it’s hard to find and hire good analysts. And on top of that, it can be hard to get new clients in the door because data science isn’t as widely known or used as many other services available.
Clickvoyant solves this problem, but automating analysis from raw marketing data. Anyone can get the insights out and enable more people without technical or statistics training, to get statistically significant insights.
I’m here to help.