Unveiling the Dynamics of Marketing Success

Key performance indicators (KPIs) are great at capturing the current status or results of marketing initiatives. However, they lack the ability to show what drives such results and how different factors may have affected the end results of marketing campaigns. We briefly looked at how you can further analyze relationships between various variables and KPIs with correlation analysis in the last chapter. In this chapter, we are going to delve deeper into how we can utilize data science (DS) and machine learning (ML) techniques and tools to unveil the dynamics of marketing success.

This chapter touches on three critical phases of the customer journey: engagement, conversion, and churn. These three types of customer behaviors are the key components and marketing goals to optimize for, and marketers often question what factors actually affect certain outcomes, such as why people engage more or less, why people end up converting more...