There are three types of Marketing: Strategic Marketing, Analytics marketing and finally Operational Marketing,
Today we will analyse Analytics Marketing in detail and at the end of the article you will find a very useful tool related to this topic,
Before we start here are some of our latest articles that might interest you:
- Network Marketing: What is it? How does it work?
- A quick introduction for the future Google Blogger: Notions for newbies
- Bluehost WordPress for Beginners – How to Start in 10 Minutes
Analytics marketing: What is it?
Analytics marketing is the set of techniques to collect objective data needed to profile customers’ desires, their behaviours
and to know the competition and assess the level of market saturation.
It represents phase one of the study of the environment in which to develop a specific strategic and operational marketing campaign.
An analytical marketing project consists of two phases
- Analysis of direct or indirect, existing or potential competition.
- Analysis of demand, to understand the needs of customers.
Analytics marketing is divided into:
Group of companies sharing certain characteristics within the same product or service distribution market.
They may be similar in terms of:
- Production techniques
- ability to satisfy the consumer’s need
- sales and marketing techniques related to the same product and/or service
- use of raw materials to produce products
Number of similar companies present within a given territory.
Dynamic perspective of the sector
Overall assessment of how variables act and how they may change: competitors, potential entrants, suppliers, customers and substitute products.
The change in perspective will depend on the intensity of relationships within markets between suppliers and customers
Analytics marketing: Data analysis is the first step
This activity brings about the identification, measurement and strategic use of performance indicators
(KPIs – Key Performance Indicators) that allow us to recognise the success of a web initiative.
In order to define the web marketing plan of an established business,
we have a lot of data to check, data from the website, social accounts, email marketing campaigns,
so we just need to decide which are the most important for our analysis.
If it’s a startup then the analysis in that case should be done against competitors and the target market,
we can focus on search trends on google, on the statistics of our direct competitors, on the most searched keywords, on the interest in the product or service we propose, etc…
Indicators to monitor
As mentioned above, marketing analytics starts with digital marketing KPIs (Key Performance Indicators).
These are the key performance indicators that enterprises use to measure the results of their digital marketing activities.
KPIs are not new to digital marketing, there always existed more traditional marketing KPIs such as customer satisfaction or business productivity.
But digital marketing KPIs are much more precise metrics.
They are objectively measurable qualitative and quantitative data that allow you to check the level of achievement of your objectives.
Careful measurement of digital marketing KPIs will help you to understand whether your strategy is the right digital strategy to improve your marketing actions and,
Therefore, your business in the future.
Digital Marketing KPIs: how to measure them?
The best tool for measuring digital marketing KPIs is definitely Google Analytics,
the Mountain View giant’s free web analytics platform.
The software allows you to profile your audience according to numerous customised digital metrics,
as well as tracking all your Adwords, social and digital PR campaigns.
Google Analytics is in fact integrated with all the main web marketing tools,
giving you the possibility to measure the ROI (return on investment) of all the web marketing activities implemented.
To get an even more sophisticated overview of the digital marketing KPIs of the different channels:
Social, Seo, Mobile, Website, etc., Google Analytics can be used by all the main web marketing tools.
Only the largest companies and multinationals use paid marketing dashboards such as Google Analytics 360 and Adobe Analytics.
KPIs common to all channels
Depending on the objective, different KPIs will have to be monitored.
For the sales objective the main sales KPIs are:
- revenue: the business revenue generated by digital marketing channels
- number of orders: do our online marketing actions result in an increase in the number of orders?
- ROAS (Return On Advertising Spend): the return on advertising spend
Campaign revenue/advertising expense x 100
This concept applies to all online advertising campaigns, Google Adwords and Social Ads.
For the objective of lead generation there are two KPIs to keep an eye on:
- Number of leads: how many new contacts/potential customers did your digital strategy bring in?
- CPL (Cost per Lead), how much did you pay for each lead generated by your digital advertising campaign?
These are the most important digital marketing KPIs that the marketing manager needs to monitor in order to try and achieve the set objectives through the synergic use of all channels (SEM, SEO, Social, Dem…).
How to structure your Analytics account
Why it is important to have it and analyse the data
Google Analytics allows website owners to approach performance-based marketing.
Not only do we consider it an important tool, we consider it essential.
That’s why we want to tell those who have never used such tools or have never monitored the traffic behaviour around their site that it’s time to start.
The more a company considers its website to be a strategic resource in the tool kit for marketing or sales,
the more it will find in Google Analytics an evaluation tool that can answer our questions about the return on investment.
The most professional functions provided by Google Analytics are:
- Target setting and monitoring
- Integration with AdWords and AdSense
- Full functionality for campaign monitoring
- E-commerce report generation
- Mobile device monitoring
- Social network monitoring
- Internal site search monitoring
- Advanced segmentation
- Customized reports
- Analytics Intelligence
- Custom variables
- Data export
- Geographical targeting
This is the tool we mentioned at the beginning of the article,
We have taken a part of the article written directly by the creator to give you a detailed idea of how it works.
Ad Trackz Gold is a Light, Fast and Easy to Use Ad Tracking Software to Easily Analyze Your Marketing Campaigns And to Improve Your Return on Investment and Business Growth!
One piece of software that has come in very handy for a lot of business owners would be the use of some ad tracking software.
The functions that this software is able to do will outstand any business owner,
and will make them ask as to why they didn’t invest in some ad tracking software sooner.
Not only will this software be able to help you keep track and manage every part of you advertising campaign, but because some functions would be currently done by employees
it will also enable you to free up valuable man-hours and utilize these hours in a more effective and efficient way.
When getting involved with some Internet marketing, there are a few things that you must keep in mind to be successful.
The potential to gain a massive traffic base from the Internet is great,
but if you’re using the wrong methods when doing your advertising,
you could be potentially hurting your business instead of helping it.
This is where ad-tracking software would come in and show it’s true colors.
With this type of software you will be able to discover what ad campaigns are working for you and which ones are not.
You can then make the decision to drop the ones that aren’t working and concentrate on the ones that are.
Any business owner that is involved with multiple ad campaigns can tell you what a headache it can be when trying to track where their advertising dollars are being spent and if their advertising dollars are being spent in the most effective way.
Advertising is a great method to get your business known,
but if your targeting the wrong people then all you advertising dollars would be going to waste.
This is exactly why you would need to invest in some type of ad tracking software.
This software can give you exact details on where your money is being spent and if you are directing your advertising dollars in the right areas.
By purchasing and installing ad-tracking software you could track several different ad campaigns simultaneously.
You would be able to see the return of your investment on any ad campaign and be able to make any decisions you need to.
From a click of your mouse, you will be able to accurately see where the advertising dollars are being spent and from where your sales or customers are coming from.
This is extremely important to any business owner, as any ad campaign that does not produce sales or customers is a major drain on any ad campaign budget.
By determining which campaigns are working the best for your company, you could then revise your marketing efforts and direct more of your advertising dollars to the campaigns that are working the best for you.
To check all this information manually would take up hundreds of man house, which could cost your business more money in the end.
So, by using ad-tracking software, not only do you have the potential to save a lot of cash in advertising efforts,
but you can also save valuable money by utilizing your employees in a more effective manner.
Although some people will argue that an ad tracking software will cost you extra money, there is also the argument that ad tracking software can save you money.
Once you have the system in place and up and running, you will be able to see on which campaigns that you are wasting your money.
By eliminating this waste, you would have actually paid for the software.
Analytics marketing: What is it? How does it work?
If you have any doubts or concerns do not hesitate to write to us below in the comments,
Let us know your experience on the article
If you liked the article and want to share it with your friends you can find links to the main socials here on the bottom.
If you want to receive Free Guides and Reviews by email, you can find the form contact on the right-hand side
Analytics marketing: What is it? How does it work?
We have decided NOT to MONETIZE the site with advertising banners to give you a more relaxed and stress-free navigation.
We hope that our choice is appreciated, support us if interested using the links on the site to keep it active with always new offers
This page contains affiliate links whereby we get a commission on referring a service.
There’s no extra cost to you, but does support our site and could entitle you to exclusive offers.