Marketing analytics is the practice of measuring, managing and analyzing marketing channels and campaigns performance to maximize their effectiveness and optimize return on investment (ROI). Marketing analytics metrics and dimensions allows marketers to be more efficient at their jobs and enables big growth opportunities for any small and big businesses.
In addition, marketing analytics opens your eyes to your customers preferences, behaviors and trends. Even with all those benefits, Many organization fail to adopt Marketing Analytics. Globally, 58.7% of organisations do not measure the annual financial impact of poor-quality data. [Source: Gartner, March 2017]
The benefits of Marketing Analytics
Let’s look at some of the benefits that your marketing efforts and business will be able to enjoy when they have the right marketing analytics strategy and tools in place.
You will learn a lot about your customers habits and behavior. How they landed on your website and at what cost. This includes your marketing channels including social media and partners site, or if they came from a search engine or a different area of the web.
This information is valuable because it can show you where you might need to shore up your marketing efforts. If you are not getting any visitors from search engines, for example, then something could be done to these channels. Making a search engine strategy is something you can just help.
You are also going to be able to gauge the response of your content on insights you can learn from your marketing analytics tools.
Definitely, you will determine how many visits different content is getting, how long visitors stayed, whether they downloaded anything or bought your products, and more.
You can benefit by learning more about the basic demographics, countries, devices and interests of your visitors. This can help you when you are coming up with a new Facebook marketing campaign. For example, if most of your visitors are from Montreal (Canada) and they are buying a lot of maple syrup, you will want to find out why and define your Facebook custom audience based on those insights.
Ultimately, you will be able to find out what is working and what is not working for your marketing campaign when you use the right marketing analytics tools.
Marketing Analytics: How and Where to start
A data driven approach is the key to a successful marketing strategy. Using, the available data a marketer will be able to align his strategy to actual trends and opportunities.
Today, data is available everywhere from Adwords Keyword planner, Google Analytics, Google Trends, Similarweb and more…
To measure the success of your marketing efforts you will need a marketing analytics tool that helps you collect and measure your digital marketing metrics and dimensions.
Marketing Analytics tools costs range from totally free to very expensive and It’s always a good idea to know your needs, you budget.
We did many marketing/web analytics tools comparisons.
We hope you will find the one that fits with your marketing strategy and budgets.
This is where you coax insights from data that can be used to direct marketing decisions and the effective communication of data insights.
Data visualization is the process of taking a data set and visualizing it in a way that can be easily understood.
It can be something as simple as a bar chart generated from a Google Spreadsheet, or as complex as an interactive dashboard. The best data visualizations are informative and insightful. A good data visualization will call right away to take actions or change some tactics in your marketing strategy.
Here are the seven data visualization tools to try:
– Google Data Studio
– Google Charts
To summarize, there is tons of marketing analytics tools and strategies. The real success factor is taking actions and adopting a data-driven culture.