What is marketing analytics, and how do marketing analytics services promote brands and help businesses?
What are Marketing Analytics Services?
Marketing analytics services are a wide variety of technologies that let marketers know how they?re marketing techniques, strategies, and initiatives are truly performing. Marketing analytics allow for a better understanding of return on investment and other business metrics. It can involve leveraging the information acquired through technologies like location intelligence, spatial data analysis, geospatial mapping, and demographic reporting.
Are Marketing Analytics Services Necessary?
The number of marketing categories that businesses can expand into are enormous. Marketing can be done off and online, and many technologies are not connected. An effective marketing strategy has to take into account various digital platforms, from desktop sites to mobile platforms, apps, an array of social media, and other channels. How can a business know if their marketing strategies are working, which ones are most effective, and which areas need to be worked on to make real change? Marketing analytics services allow marketers to zero in on the right target.
What Can Marketing Analytics Allow?
Specifically, the right marketing analytics can let a business know precisely how each individual marketing campaign is performing, both in the short-term and in the long-term. Analytics let a marketer and the business they serve know how to sensibly and efficiently allocate their marketing resources and how to prioritize for the future. Finally, marketing analytics services allow effective comparisons with competitors. How are competitors spending their time? Where is their money going? Where are they being effective, and where can they be undercut with an effective strategy?
What Kind of Analytics are Most Important to Track?
Opinions on this will necessarily vary, but some clarity is possible. One area that should always be tracked is website effectiveness. This should include tracking revenue, tracking web presence, and tracking engagement. It should also mean getting a clearer understanding of retention rates and which campaign brought a user in.
Another essential element to track is the impact of content marketing. This means finding out how a particular blog post, Facebook campaign, or even tweet might have affected clicks and actions. This allows the marketer to zero in on what audiences are noticing; what turns them on and what might even be driving them away.
Why Can?t a Business Do This All In-House?
Some of the largest companies with enormous resources at their disposal can have their own effective in-house marketing analytics. But most companies don?t have the expertise and the resources to make sense of the fantastic deluge of numbers that big data is able to create. Without the expertise that professional marketing analysis services can bring to the table, it?s possible for such enormous amounts of data to actually do more harm than good in terms of bringing understanding to the marketing situation of any particular business.
The possibilities for understanding the market, the potential customer base for any business, and the best way to move forward in marketing strategies are nearly endless. If you have a business, make sure you?re taking advantage of these possibilities with the right marketing services at your side.