Marketing analytics is the system of using certain tools to manage, measure, and analyse marketing efforts in a bid to enhance effectiveness and optimise returns on investment (ROI).
Marketing analytics helps to make you more efficient at what you do and reduces costs associated with web marketing. In addition to generating sales and leads, marketing analytics can provide amazing insights into what your customer needs are, as well as customer trends.
Importance of Marketing Analytics
It is important to measure the way your business is doing in the market because it provides you with ways to focus and improve your results. Marketing analytics provides you with an overall picture to help you understand marketing trends and monitor them over time, determine what tactics work and why they did, as well as, forecast future sales, and understand the ROI of every program.
Essential Marketing Analytics Tools
To effectively use marketing analytics to increase your business’ sales, certain tools must be used. Several marketing analytics tools are available, ranging from search engine and email marketing analytics tools, to inbuilt social media analytics tools. Below are three essential marketing analytics tools every business should use.
- Google Analytics
This tool covers all the important factors when it comes to web analytics. It helps you keep track of behaviours of visitors, such as the amount of time they spend on your site or the location they were when accessing your site. Data from this tool will provide you with information on how well optimised your site is, as well as if you have managed to target your market effectively. You will also be provided with information on which of your pages is the most successful.
- Facebook Business Manager
This tool is important if you want to advertise your business on Facebook. The tool offers features such as page management and campaign setup. You can monitor the performance of your posts and ads, as well as stay ahead of your most engaging content. In addition to this is the Audience Insights feature, which is built into Facebook Business Manager. This feature provides you with an accurate breakdown of customer’s interests and demographics.
- Campaign Monitor
This is one of the top email marketing tools in the market today, which integrates with Google Analytics to provide an in-depth insight into your email campaign’s success. Using this tool, you can track conversion rates, social media shares, site traffic, and click-through. This tool also provides you with a location of where your customers are based.
Top Marketing Analytics Tips
- Use whatever information you uncover from your marketing analytics to make better and more informed decisions.
- Experiment from time to time because this is one way to find newer methods that work, as well as grow your business.
- Stay away from metrics that can distract your team from achieving your company goal. Although marketing metrics such as Facebook fans may impress people, it doesn’t necessarily mean more