David Bankers is responsible for the strategic direction and management of LodgeNet's intellectual property, software, hardware and interactive design functions.
August 7, 2009 - Here at LodgeNet we are constantly turning to market research for both internal activities as well as direction for new products and innovations in the field. Jim Marks, our Director of Market Research is today’s guest blogger with the following insights into effective analytics. - Dave
Here is a summary of key issues for excellence in analytics.
According to Jodi McDermott, to gain an advantage on analytics you should:
- Know your business model (and which metrics are key to success)
- Know your trigger points (where improvements will have the biggest impact)
- Always test (tweaking and “outside the box” tests)
- Know the latest technologies for your trigger points
- Constantly SWOT
For me, numbers 1-3 are almost automatic. I started in direct response fundraising, so knowing the cycle of individual campaigns and the flow of lifecycle management (and testing every element) is business as usual.
It can be much harder to pull back from the details to address numbers 4 and 5, and reflect on the bigger picture of analytics. At LodgeNet we are tracking evolving trends in set-top box technology and how that affects advertising. That’s a professional interest (supporting The Hotel Networks) but it is personally challenging to think about what can be collected and what can be learned.
Jim Marks
Director of Market Research
LodgeNet Interactive Corporation
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