December 10, 2010

Sales Differences By Audience

One might think that the 2,500 followers of the MineThatData Blog represented a homogeneous demographic of marketing and analytics experts.

And while that may be true, behavior within an audience of 2,500 followers can be rather diverse.

Take the sales of two books, for instance.
80% of "Hillstrom's 2011 Almanac" have been, to-date, sold via print.
85% of "Hillstrom's Hashtag Analytics" have been, to-date, sold digitally.
And interestingly, sales of Online Marketing Simulations are 100% ahead of forecast since the two new books were released.  Finally, click-thrus to the B&N link are significantly greater than to the Amazon Kindle link, but conversions are 5x to 10x greater via Amazon than via B&N.

I sell three products to the same audience, and each product sells differently in each channel, with one product experiencing a significant sales increase when the product gets significantly more competition than it previously had.

If this happens to little-old me, imagine what is happening across your customer base, across your channels, across your various product lines!  Are you measuring it?  Do you understand the dynamics?