The Importance of Utilizing Marketing Analytics

Why is Marketing Analytics so important? Because you have to spend money to make money, and marketing is no exception. Marketing analytics helps companies make sure they are sending the right money.

What is Marketing Analytics?

Marketing Analytics is the practice of measuring, managing and analyzing marketing performance to maximize its effectiveness and optimize return on investment (ROI). Analytics allows marketers to be more efficient and helps avoid wasting marketing budgets.

How to Perform Marketing Analytics

Analytic Tools and KPIs help track marketing analytics.

Analytics Tools

Helpful Analytics tools include:

  • SEO and SEM Tools
    •  SEMrush
    • Google AdWords
  • Website Analytics Tools
    • Manipixel
  • Marketing Automation Tools
    • Hubspot
    • Marketo
  • A/B Testing Tools
    • Mixpanel

For the best analytics tools, visit our blog here. (insert link)

Utilizing KPIs

An important part of marketing analytics is utilizing KPIs, or Key Performance Indicators. KPIs are the criteria by which you measure how well you’re meeting your goals. Marketing KPIs are specific, numerical marketing metrics that organizations track in order to measure their progress towards a defined goal within your marketing channels. Marketing KPIs include sales revenue, cost per lead, customer value, inbound marketing ROI, traffic to lead ratio, lead to customer ratio, landing page conversion rates, organic traffic, social media traffic and conversion rates, mobile traffic, and more.

Web Analytics are an important part of marketing analytics and focus on your company’s website specifically.

Web Analytics include:

  • Number of visitors on your site
  • Number of page views
  • Time on site
  • Bounce rate
  • Conversions
  • Growth over time

Being able to measure these KPIs is vital in understanding the success of your marketing efforts.

Why is Marketing Analytics Important?

It is important to measure your marketing performance. If you dont, you might be  so that you aren’t spending money without getting the results your company is looking for. You have to spend money to make money, and marketing is no exception. Marketing analytics helps us make sure we are sending the right money. Marketing Analytics helps companies:

  • Identify Success and Failures
  • Streamline Marketing Goals
  • Making the Right Investments
  • Save money and avoid unnecessary costs
  • Helps support your decision to change marketing strategy
  • Benchmark against competitors
  • Helps support your decision to change marketing strategy
  • Find New business opportunities

Marketing Influence creates marketing programs that are customized to your goals and budget. Connect with us now to learn more about how we can help you with your marketing analytics.

By | 2018-10-31T03:43:35+00:00 March 26th, 2019|Analytics and Metrics|

About the Author:

Shea is a Senior Marketing Strategist at Marketing Influence. She has both a big picture grasp of marketing, and a laser focus on current digital marketing trends and capabilities. When she is not writing blogs and curating content for social media, she enjoys spending time exploring San Diego.

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