What is Marketing Analytics?
Marketing analytics is data analytics for marketing efforts. Data analytics allows businesses across the board to measure performance of their websites, online advertisements, landing pages, blog posts and more. Data analytics include showing the results for Return on Investment (ROI), Cost Per Sale (CPS), Cost Per Lead (CPL), efficiency rating, and response rates.
Why do I need Marketing Analytics?
The better question is Why wouldn’t you want data analytics? Obviously, knowing how your marketing campaigns perform is ideal. If the campaign fails, a company will likely not use that exact effort again. However, if a campaign succeeds, companies generally keep using that successful campaign. The question then becomes: How do you know when a marketing campaign is successful? Easy. Review the data analytics. Unfortunately, many businesses fail to ever realize the promises of marketing and data analytics and how they can vitally support success for their business.
“More than 80% of respondents were dissatisfied with their ability to measure marketing ROI,” according to a survey of senior marketing executives published by the Harvard Business Review.
The Importance of Marketing & Data Analyics
By using data analytics, businesses are able to then gauge the performance of each individual marketing effort online. What they say is true, knowledge is power. Data analytics is one tool marketers use to determine how to proceed with marketing efforts in the future.
One of the most powerful marketing performance metrics comes in the use of keywords. Keywords tell marketers many details about consumer habits, such as how their mind works in relation to a particular product or service by observing how consumers search for that product. This type of data analytics collected tells a business exactly what is on the mind of current and potential customers.
Digital Marketing & Media Insights has the capability to create a variety of custom reports, including Google Analytics reports and SEO performance reports. Call today for additional information regarding our full-service digital marketing options.
“Laura revamped our marketing materials entirely, organized our marketing files, uploaded these materials online so we have access to them in the cloud, as well as established a new drip marketing campaign. We now have an array of new materials to use for sales, new case studies and white papers, and most importantly – a new website in the works. In addition to this, she has also created newsletters and even reached out to customers to get new testimonials. All of which support and encourage our sales team to succeed.” –J. Heroux, Towerstream