How valuable is your historical data? An introduction to Lookback windows
A lookback window is the name given to the length of the historical data that is available in a data platform. They vary significantly across different analytics tools, but their significance is often overlooked when it comes to choosing a provider.
Here’s why they matter:
If your lookback window doesn’t cover your entire sales cycle, you could miss out on key data in your customer journey analysis. And without accurate data and an understanding of historical trends, your marketing strategy can’t be effective. If you haven’t meticulously saved and stored everything you might need to know, anything that’s happened before a certain point in time is effectively lost.
Google Analytics (GA), a major analytics tool, currently offer a 90-day lookback window.
Case study: The insurance sector
Many industries have sales cycles that span far longer than 90 days provided by (GA). The insurance sector is a good example.
Insurance companies often have customers who return to renew their policies on a yearly basis. If these companies were only able to recall data from the last 90 days, they wouldn’t be seeing an accurate representation of their customer journeys in their entirety. In effect, they’ll only be analysing the latter stages of a customer’s latest period of interaction with their brand, rather than gaining a comprehensive understanding of which marketing channels have contributed over the entire customer lifetime. Repeated renewals over a lengthy time period should constitute a single (although very long) customer journey.
If you are to truly understand the relationship between your marketing channels and your revenue, you need an analytics provider that can give you this holistic view.
Unlike GA, Fospha provides its customers with an unlimited Lookback window, meaning that regardless of the length and complexity their sales cycles, our clients are able to gain a comprehensive understanding of their marketing performance, that matures with age.
Interested in finding out more about our lookback windows? Get in touch at firstname.lastname@example.org
Fospha provides its clients with an accessible, centralised, and actionable data platform. Our solution can seamlessly integrate disparate performance data siloes and present clients with a comprehensive – and most importantly – accurate picture of their marketing performance. By combining MTA with an extensive list of different datasets, Fospha provides a single interface where clients can understand how buyers are interacting with their brand, understand where they’re getting the best return on investment, and optimise their marketing strategy accordingly.