Marketing Analytics

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Marketing Analytics

What is Marketing Analytics?

Its defined as the technology and processes that help marketers to evaluate the effectiveness or ROI of the market initiatives as well as identifying opportunities for improvement. Marketing metrics are the data points and analytics is putting that data in the context of your brand and market, telling managers and investors a complete story about how your marketing efforts are driving revenue.

Marketers often take decision based on the Individual Channels (Website Metrics etc.) and don't take into account the entire marketing picture. Social media or web analytics data alone is not important. Marketing Analytics considers all the efforts across all the channels which is needed to make a rational and informative decision.

If you don't opt for the MA, you might not be able to discover the channel difficulties or maybe adjust your current strategies or tactics or might not know where you can optimize the process.

How we help

We use marketing analytics for data driven decision making. Marketing analytics facilitate maximum effectiveness and optimization of return on investment. We consider it appropriate to measure marketing proposals based on their economic worth or rate of return on investment.

  1. We find the analytical approach that works best for us:
    The tools we use include:
  2. Reach, cost and quality-
    We resort to this when advanced analytical tools cannot be used, especially when the data is limited or when the spending is routinely consistent all year round.

    Marketing mix modelling-
    There is big data available, to work out the effectiveness of spending per channel. It is useful for both near-term as well as long-range planning.

    Attribution modelling-
    Attribution is becoming increasingly important for marketing execution and online media purchasing. A set of algorithms or rules that govern how the credit for the conversion of traffic to sales is meted out to the various touch points, like online ads, social media feeds and email campaigns.

  3. We generate insights by integrating capabilities:
    We use a combination of these tools instead of singular one. This approach involves using data and insights from direct responses. It also reduces the inherent bias of a single technique and allows us to be flexible in moving budgets towards activities that produce the most worth.
  4. We make the analytical approach the centre of all we do:
    Typically, teams outsource the analysis and when the numbers come back, they are reluctant to make changes as they either don't understand the observations or they don't trust the accuracy. We work in tandem with data experts, digital analysers and researchers so as to maintain high accuracy and reliability. We nurture individuals who can work out what the analysis tells them as well as who understand the business being dealt with. We set up councils within the marketing department so that the analytic and creative teams have a place to work in collaboration. We have reached the conclusion that an integrated approach is the best way to find out the most evident insights and to drive brand growth above the levels attained by our competitors.

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Marketing Automation

– Marketing automation is a software which help the organization to measure, streamline and automate all the marketing tasks so that they can increase the operational efficiency and grow revenues with a pace.