What is marketing analytic? What is the purpose of analytic marketing in my business? There are many questions which are asked by beginner marketer. So that’s why I write this, marketing analytic for beginners article.
What is Marketing Analytics?
Marketing analytic is activity of measuring and evaluating marketing method that is implemented in your business. This activities are performed in order to increase efficiency and productivity and optimize ROI.
Measuring the effectiveness of marketing campaign is a big challenge especially for beginners. So beginners must know basic activities of marketing analytic. They are: collecting, measuring, learning, analyzing, and drawing a conclusion.
Analytic Marketing Activities
There are some marketing analysis activities that beginners must know, they are:
1. Collecting big data to comprehend marketing campaign performance. Data is getting from many source both online (website, email, social media site, etc.) and offline (offline gathering, offline survey, feedback call, etc.)
2. Measuring the data based on metrics that you define such as: traffic, leads and sales, conversion rate, and so on.
3. Integrating all marketing channels and measuring them.
4. Tracking how the prospect or customer interact with you through all channels which have been integrated.
5. Evaluating and reporting whether some marketing activities are worth (time and money) or not.
6. Getting feedback to enhance and optimize marketing campaign and improve other marketing activities.
Actually in the real world, there are many activities to be performed. If you want to know more please browse LinkedIn or job and career website. Search for marketing analysis job, or marketing analysis opportunities and job description. You will find the skill which is needed and job activities that you will perform.
Marketing analysis function and benefits
1. By implementing this, you will get an insight into the effectiveness of your marketing strategy.
This one of basic function and benefit of marketing analysis.
This one of basic function and benefit of marketing analysis.
2. You can identify the marketing channel, for examples social media site, email marketing, web site and blog, and so on. Which one works and which one fails.You will know what are the most effective channel based on the data. So you can focus on it.
3. It is related to number two. You can get an insight into how well the marketing activities achieve your business goal. If there are some shortcomings, in particular activities you can find it quickly and make an improvement or make some adjustment to certain marketing channel and activities.
4. You can minimize wasted money. Why? Because you have done an effective marketing campaign through marketing analytic tools.
5. Marketing analytic tools can help you to determine what is customer preference, customer wants and demand, customer trends. I have discussed before that new marketing approach is customer-oriented marketing approach. So if you implement analytic marketing as a part of marketing information system in your business, you can enhance your customer-oriented marketing activities.
Marketing analysis metrics
You can define a metric based on your business goal. After that you can monitor and evaluate these metrics. I will give you some examples:
– Web analysis metrics: amount of traffic, bounce rate, page views, time on the site, click conversion, and so forth.
– Pay per click metrics: quality score, CTR (click-through rate), ad copy optimization, landing page optimization, spend vs. earning, etc.
Marketing analysis tools
In order to support you perform marketing analytic activities, you should know several tools to be utilized.
– Web analytic : google analytics, adobe analytics
– Email marketing software
– Social media monitoring tools
– Affiliate ID tracking software
– Reseller ID tracking software
– CRM software , usually this software include monitoring and analytic tools.
And so on.
These are all about analytic marketing, so are you ready to become marketing analysis practitioner?
