Why Marketing Analytics is required?
Marketing analytics is required to upgrade ant business, understand the customers and their requirement. This helps to form proper marketing strategies and invest on the right campaigns that are fetching profit. Statistics tells that both B2B and B2C companies will be spending 73% to 100% on the process of marketing analytics by 2018. The major companies are already spending over 1/3rd of their budget on analytics for bridging the gap between digital marketing and customer marketing. Maintaining the huge amount of data is quite an impossible task which would surely incur errors. And that is one of the major reasons of obtaining marketing analytics tools. It is important to identify the best analytical approaches.
Marketing technologies in the digital age give detailed insights into individual customer interactions. It is a crucial aspect for any marketing genre when the companies need to know the real-time audience marketing. Companies can get to know about the highest performing campaigns and invest in the right strategies. There are many tools and methods that are followed in the field of marketing analytics. It includes Ad effectiveness, CRO, SEO/SEM analytics, Big Data, and Ecommerce analytics.
Marketing analytics measures the effectiveness of the companies’ website, result of your relevant content writing, and the ROI planning. It provides valuable information that influences the campaigns and the revenue generation. Converting leads successfully into sale tends to improve the quality and speed of decision-making that paves the way for the company’s success. The implementation of data analytics rate has gone up to 65% from 55% in 2014. And 42% of the companies are still planning on data implementation in their business strategy.
There are various types of data that are needed to support different sectors of online marketing. We at Infinity Intellectuals, ensure you stability to your business by implementing the correct set of data analytics that are applicable for your industry.
Here are the reasons as to why data analytics is required:
It keeps a check on the total number of visitors on the company’s website, the average amount of time that they are spending, and the bounce rate. This is the way to keep a track of the number of visitors who are visiting and spending time at your website. Return on Investment (ROI) tells you which campaigns are running successfully and contributing in your business growth.
Campaigns & Social Media
Conversions by campaign show which marketing campaigns are running successfully and has got more buyers. This helps the companies to plan the marketing strategies by comparing the campaigns that are performing well from the non-performing ones. By being active and monitoring the social media interactions such as Facebook’s likes and shares, tweeting, etc. the news, views, and ideas expands. The brand gets a bigger and wider identity as it engages with the larger audience.