How Organizations Use Marketing AnalyticsCustomer Trends and Preferences, Product Development Trends, Understand What You Want to Measure, Establish a Benchmark, Assess Your Current Capabilities, Deploy a Marketing Analytics Tool. Use data analytics to track, measure, and improve your marketing campaigns. All channels, from SEO and email to PPC and your website, can be improved using data analytics. Marketing analytics is the process of tracking and analyzing data from marketing efforts, often to reach a quantitative goal.
Insights gleaned from marketing analytics can enable organizations to improve their customer experiences, increase the return on investment (ROI) of marketing efforts, and craft future marketing strategies. Analytics strategy will help you to realise how your programs are working in conjunction to nurture your leads. With this, you can build a solid base upon which you can qualify them and pass the leads on to your sales reps as opportunities. When you’re looking to launch a new marketing channel or improve an existing one, you don’t need to start from scratch at least, not if you’re able to leverage
You can use the insights to design marketing strategies, attract new customers, keep existing customers, discover which marketing campaigns are underperforming and focus on your most successful products. It’s far less common for marketers to use data to inform future content marketing campaigns except for keyword research, of course. In this way, marketing campaigns can be directly tied to important metrics such as your company’s website traffic, and you can see the impact that various marketing channels used (web, mobile, social media, etc. Marketing with data analytics means measuring, analyzing, and applying data to your marketing campaigns not just tracking the results of your campaigns to prove ROI
Another important aspect of having a reliable marketing analytics framework in place is to create effective analytics dashboards. Marketers use data analytics to make sense of a large amount of customer data, using these insights to guide their product strategy, brand and marketing campaigns. With marketing analytics, you can gather intelligence into several different areas of your marketing strategy. Research by Forrester shows marketers who use five or more tools in their marketing analytics stack are 39 percent more likely to
According to the Content Marketing Institute, roughly three-quarters (78 percent) of marketers measure content performance, 63 percent establish KPIs, and 51 percent measure content ROI. Marketers have been analyzing their methods and techniques since the mid-19th century, but today’s data analytics bears no resemblance to those early marketing efforts used to maximize profits. With knowledge of your customers and the ability to track your marketing efforts’ return on investment, marketing analytics provides an opportunity to create data-driven strategies for your organization. However, despite the emergence of several platforms and technologies that can streamline the marketing analytics workflows, it remains a challenge for companies to build concrete, actionable data analytics solutions for
Especially the domain of marketing has been fundamentally changed and marketing analytics has emerged as an essential component of digital marketing strategy to measure and optimize marketing efforts.
- The Importance of Analytics in Digital Marketing | William & Mary