7 January 2019

Marketing Analytics – An asset for your business

In a fast-paced market, where competition is vicious, the speed of technology changes abruptly and consumers are more empowered and unpredictable, it has become more important than ever to understand the adjustments between elements that are driving business performance.

While data availability is overwhelming, managers are struggling in analysing the increasing amount of information they have. Never before did managers have this much information on customers, partners and competition at their disposal to make informed, smarter decisions, yet they are more than ever criticised about the lack of actionable insights that originate from it.

Marketing insights provided through Analytics allow the decision-making process to be based on a systematic approach to exploit data that helps managers to increase the efficiency of Marketing decisions.

How can Analytics help Marketing teams?

Analytics solutions analyse huge amounts of information to provide important insights into patterns that indicate the desires and attitudes of clients and prospects. Marketing teams can capitalize on this information, planning campaigns that target better the right audience, and gain a better understanding of which initiatives generate the desired ROI.

  • Dashboards and Visualizations

An Analytics dashboard provides the Marketing team with an overview of the status of company sales and performance. A great dashboard is easy to use and comprehend, and cuts through much of the unnecessary information by highlighting important metrics. You can also compare several KPIs side by side in one viewing and analyse the impact of social channels.

  • Predictive and Prescriptive Analytics

Marketing teams are always seeking actionable insights from their data, and the insights delivered by Predictive Analytics help to uncover trends and guide future actions. Using data from the past, Predictive Analytics can prescribe accurate methods for the Marketing department to improve customer engagement and reach its target audience with more valuable content and messaging.

  • Integrated Communications

Integrated Communications means carrying a unified message throughout a customer’s entire experience with a brand, from an email to social media. This is important for Marketing teams because it creates an unique, personalized and on brand customer experience. This is achieved by integrating and transforming customer behaviour data into personalized content and creating an advantage to potentiate a purchase.

  • Social Analytics

Social Media Analytics mines information from posts, shares, comments, and other engagements on social networks, blogs, and more. This data provides Marketing teams with a detailed and accurate understanding of customers. This can improve engagement, as companies learn more about who their target audience is and what they want. Social Analytics allow a detailed understanding of a customer’s opinions and this is important not just for engagement, but for monitoring performance and the strategic aims of a campaign or project.

  • Marketing KPIs

Marketing key performance indicators (KPIs) are crucial to determine the most important influences on business performance, by monitoring the success of a campaign or determining if the content contains the right and planned messaging. KPI analysis is not only an easy way to keep up with metrics that are essential to the business, but it can also create connections for marketers between metrics since certain KPIs can serve as indirect indicators of other categories. By monitoring KPIs over time, marketers can see which KPIs are related to customer satisfaction, increased revenue, and the categories that matter the most to the business.

  • Data Merging

Customer and user data can come from many sources, being an email marketing campaign, website navigation or social media interaction. It is very useful to have that data collected and transformed into useful insights so you can make informed decisions. Analytics tools can pull together data from multiple sources and organize it in an integrated way. This unified view provides an understanding of customers and prospects, the channels they are using and the content they are consuming, allowing us to develop strategies based on that information.

marketing analytics

 

Why apply Analytics in Digital Marketing?

Online presence for companies is becoming more and more competitive and any detail makes a difference. That's why Marketing teams must take advantage of all the tools they can to achieve the desired goals (I will address some of the most important Digital Marketing tools below). The biggest advantage in the digital transformation we are facing is the ability to measure most of the results and processes with the help of Analytics and Big Data solutions.

Analytics comes as an effective solution to simplify this process and allow a new perspective on the performance indicators of your business. Due to the technological advancements of Analytics softwares, it is possible to monitor, anytime and anywhere, your customers and prospects in the sales funnel. In addition, these solutions can be applied throughout the process, from the design of the Marketing plan to the time of selling, analyzing Marketing in a comprehensive way, and improving the customer experience.

All this information is in a dashboard that, in addition to the analysis, allows you to think about the steps that can be taken to improve your actions and overall strategy.

marketing analytics

 

Digital Marketing Analytics Tools

With Analytics and Big Data solutions, you can merge data from several Digital Marketing Analytics tools that collect metrics from Marketing and Advertising channels. Here are the top 5 tools that help you gather Digital Marketing insights:

  • Google Analytics is a web-based platform, which allows you to collect data about the visitors of your website. It allows you to collect and analyse data about everything, from how the user arrived at your website, what they did while on your website, whether or not they converted, as well as offering lots of additional information about the user themselves.
  • Search Engine Optimization (SEO) tools help teams understand how likely their website and content are showing up in online search results. These tools also suggest new keywords, provide recommendations for improving search rankings, and let marketers compare their website to those of competitors.
  • Social Media platforms such as LinkedIn, Facebook, Instagram and YouTube each offer their own free analytics, which show teams how visitors interact with their profiles and posts. Some social platforms offer paid versions with expanded analysis and reporting features.
  • Search Engine Marketing (SEM) tools such as Google AdWords and Bing Ads provide analytics for search engine ads. Marketers can view ad results, track spending, A/B test variants, research keywords, and learn to improve their ad performance.
  • Marketing Automation tools allow you to automate Marketing processes such as lead segmentation, lead data integration, campaign management and nurture leads with highly personalized, useful content that helps to convert prospects into customers. Defining your buyer personas (fictitious versions of your prospects) is extremely important for your Marketing strategy but especially relevant here, since understanding your buyers is the key to the implementation of any Marketing action. SEO also plays a big role, because you want to be sure that your content reaches your personas organically when they search for it.

marketing analytics

 

Why is Marketing Analytics relevant for your Organization?

The customers of today require more responsive and personalized service through channels with which they are comfortable. Long hold times on customer service lines are no longer acceptable, mass mailings and aggressive Marketing are no longer converting when customer segmentation offers the tailored service that prospects have grown to expect now.

Data analysis, particularly in Marketing, provides a greater insight into customer and prospect needs, preferences, and desires. In addition, it allows understanding the efficacy of business practices and strategy, and provides concrete, actionable insights that allow you to offer exactly what your client or prospect is looking for through the right channel and at the right time.

Always remember that Technology and Marketing evolve daily, and with them, customer expectations. It is mandatory to predict and understand what customers and prospects want and how to approach them. With Analytics and Marketing aligned, this goal can surely be achieved with success.

marketing analytics

 

marketing analytics

Marcelo Buinho
Marketing Specialist
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