Marketing analytics plays an important role in promoting a brand or company on the Internet. Its mission is to demonstrate the effectiveness of strategies, and analytics data helps marketers understand the target audience’s needs.
Marketing analysis allows specialists to see how an advertising campaign has contributed to conversions, audience behavior, and preferences. Using this data, you will develop personalized solutions – for example, for targeted advertising or email newsletters that satisfy a specific customer request.
What is marketing analytics?
Marketing analytics studies a set of data obtained from researching a product, market, consumers, etc. This data is obtained by specialists from various sources, including social networks, websites, blogs, offline events, and emails. Simply put, marketing analytics explores all possible channels of brand-consumer interaction.
The analysis is carried out using various methods depending on the KPI being measured. Analysts and marketers identify the following models for analyzing marketing initiatives:
- Media mix models (MMM): consider a collection of data over a certain period.
- Multi-touch attribution (MTA): displays personal data throughout the purchasing journey, from the request to the moment of purchasing the product.
- Unified marketing measurement (UMM): a model that combines MMM and MTA data into comprehensive metrics for business–consumer engagement.
This information can only drive business if marketers can interpret it correctly. Otherwise, the research carried out will not be decisive. Moreover, they will provoke losses that could have been avoided.
Why is marketing analytics important?
Marketing analytics gives professionals a clear understanding of how a particular strategy affects the business as a whole. By analyzing the smallest metrics and taking full-scale measurements, you get a detailed snapshot of your business’s market position.
How much time does a user spend on your site, how do they study information? Based on this data, you can calculate when on the screen to show the targeted message. The research results will help you optimize your site to become an even more effective sales tool.
Marketing analytics allows you to study the target audience of a brand. To offer personalized solutions, you must understand who your customer is, where they live, what they do for a living, what they do to relax, etc. In addition, research will help you determine your potential client’s online behavior: which sites they visit, how much time they spend on social media, and what exactly they are looking for on search engines.
Analytics will also allow you to identify strengths and weaknesses in your marketing strategy. For example, after examining an ad campaign, it may turn out that it is an absolute failure and worth stopping its funding. The campaign may also be of genuine interest to the audience, but the conversion rate is low due to the technical nuances of the site’s work (which is not obvious without research). Correctly conducted and interpreted marketing testing provides a clear understanding of all the processes related to product promotion and its interaction with customers.
Marketing analytics with Plerdy for business growth
You can see the points of business growth with the help of marketing analytics by examining all the components of the analysis. The Plerdy service collects and organizes all the necessary indicators. The main digital assistants are Plerdy Heatmap, Plerdy Pop-Up and Smart Forms, SEO alerts, etc.
Service users note its high performance and the fact that Plerdy does not slow down the speed of other sites. For example, Matt W, a small business owner, praised the speed of
completing tasks and the ease of use.
John B, head of a groundbreaking startup, notes that Plerdy SEO Checker is a must-have tool for businesses. In addition, marketing strategy coach Mohammed Faizan Ahmed S appreciated the functionality of the video session option.
Website Heatmap tools
With the functions heatmap of clicks, you can track customer behavior on the site: hovering, clicking on the tabs, badges, icons, buttons, scrolling, and other interactions. By examining the user experience on a website, you can see its weaknesses. Change unsuccessful elements and fix website design mistakes, and you will achieve higher conversion.
It is worth noting the case of the well-known bank Kredobank, which installed the Plerdy script on its website to conduct a usability audit of the main page. After using the Heatmap tools, it turned out that users persistently clicked on a certain place (which was not clickable) a record number of times within a month.
Having received the analytic data, it was decided to place the main advertising banner in that place, thereby encouraging site visitors to perform the targeted action faster and more willingly. This directly affected the conversion of the site, significantly increasing it.
Session replay software
Session recordings enable marketers to track visitor usage of a site in near real-time. You will be able to see how the user moves around the site – and appreciate its navigation and the convenience of the location of all components. This will help you identify possible reasons a customer leaves the site without making a purchase.
Conversion funnel analysis
The site funnel tool makes it possible to track the consumer’s path to completing the targeted action step by step. For example, when using this analysis for e-commerce sites, you can see where a customer is purchasing, at what point they abandon their basket, which stages they ignore, and where they may have difficulties.
Event and goal tracking
This tool allows analysts to track selected objects on the site during customers’ contact with them – for example, filling out forms, clicks, images, etc. Tracking allows you to make a more detailed marketing analysis of the site’s functionality and detect possible problems when users do not click. All of this information provides an opportunity to address deficiencies, such as changing a call to action.
Pop-Up Forms Software
Pop-ups on the site perform several tasks: they encourage targeted action, draw attention to promotions and important information, reduce the bounce rate, etc. Plerdy’s toolkit allows you to customize pop-up forms and track their effectiveness.
Luca M, founder and coach, prefers a holistic marketing analysis approach. He appreciates the practical ability to combine multiple instruments at once. Without any special technical knowledge and programming experience, he configured the pop-up messages to work.
Well-tuned pop-up forms can significantly reduce bounce rates, as proven by the Plerdy case study. After a detailed marketing analysis of the website, the forms were designed and placed correctly. This encouraged site visitors to not just stay on the landing page but also take productive action.
Plerdy SEO Checker provides SEO professionals and business owners with the ability to receive regular SEO alerts. The data reflects the performance of the site. The tool checks and notifies ranking factors in Google, performs automatic SEO technical analysis from the website, conducts a semantic analysis of each page with traffic, etc.
Here is an example of an online store TemplateMonster, which installed a Plerdy script to check a site for SEO errors. A huge number of seemingly insignificant errors were discovered that negatively affected traffic and website ranking.
Marketing Data Analytics
Data analytics is critical to marketing and helping businesses to understand their customers fully. Marketers can use a variety of tools to create a complete audience profile.
Progressive companies are flexible and adapt to new circumstances. For example, many go from accurate measurement of customer data to forecasting. This helps them get data for analytics relevant only for a specific, short time. Then, based on the data, you can build promotion strategies.
Predictive analytics – operates with unusual tools: descriptive, predictive, and prescriptive analyses. These provide a better understanding of the audience, as well as greater customer satisfaction and retention.
Top 10 Marketing Analytics Software
Marketing analytics software allows professionals to measure and analyze the impact of specific strategies and tactics. In addition, various tools allow experts to evaluate the effectiveness of decisions made and open new points for growth.
This software offers various marketing tools, including email capabilities, various chat rooms, forms, advertising activities, and reports. In addition, users can add pop-up messages without involving specialists and also track their results.
The service is free for all users. In addition, it is a Google Partner, which gives everyone a good basis to trust it. The company’s clients include AdmitHub, 12South Marketing, Aquaspresso, and Bucks County Taste.
Now part of Google Cloud, the platform collects detailed data on Internet user behavior and analyzes business marketing initiatives.
Looker’s prices are calculated individually, depending on the number of users and the scale of work. In addition, the company collaborates with brands such as Moderna, King, Twilio, and Avant.
The software developed by the Adobe company provides a full range of consumer data collection services.
The advantages of Marketo are enjoyed by such planetary giants as Panasonic, Roche, Cloudera, Citrix, and Mitel. The price is formed based on the options that are needed for the business.
The platform offers state-of-the-art artificial intelligence capabilities for marketing research and analytics. Using the service, you can launch pre-configured automated initiatives that do not require personal control.
Percolate specializes in campaign marketing tools with an emphasis on relevant content. With the help of forecasting technologies, ROI tracking, strategy programming, and other capabilities, marketers can easily carry out an analysis.
The company partners with the brands Mars, UPS, American Express, Eaton, and Rockwell Automation.
The marketing cloud offers functionality for tracking customer audiences and their online behavior. At the heart of it is built-in analytics and artificial intelligence, which together provide detailed reports on your marketing strategy.
The company provides prices upon request, based on the specifics of the operations performed for you. For more information, you need to register. This program is used companies including Tempo OMD, The Economist, YuMe, and Ad Council.
The platform provides opportunities for studying the demographic data of the business audience – for example, knowing what content your potential customers are consuming will help you create relevant ads that target them.
The clients of this platform include such companies as 7Speaking, Acciona, 360Suite, Adobe company, and Alida.
Mixpanel is a platform for self-conducting marketing analytics and using the obtained data to increase conversions. Detailed reporting of various types is generated, including insight, funnel, and retention reporting.
Mixpanel is used by many well-known businesses, such as Uber, GoDaddy, ZipRecruiter, Lemonade, and Expedia.
A network analytics platform with a business-oriented approach to data management. With automatic metrics integration, you can implement complex market research and strategies without manual configuration.
The prices for the analysis tools are not advertised – the terms of cooperation are discussed with the company representatives. Registration on the site is required. Among the company’s clients are Miller Industries, Citrix, MidwestWheel, and Pilot Flying.
The platform provides flexible, customizable tools for measuring marketing campaign data. However, the mechanisms for analyzing targeted advertising should be noted separately.
Marketers from Spotify, Booking.com, Yelp, ShareNow, SoundCloud, and others have chosen the company’s products. Customers are offered a choice of three plans, each containing a specific set of tools. Prices are not specified – everything is calculated on an individual basis.
Marketing Analytics Metrics
For full-fledged marketing analytics, it is necessary to understand what criteria the assessment will be made in advance.
Content marketing analysis includes:
- Consumption (views, average time per page, bounces)
- Sharing (reposts)
- Lead generation (traffic sources, conversion rate)
Experienced marketers are adept at combining the marketing research metrics of online audience behavior, sales, website visits, ROI, bounce rate, and more, depending on the key performance indicators.
Marketing strategy analytics is not a one-time process but a procedure that must be performed at regular intervals. To conduct it effectively, it is necessary to pre-determine the criteria for the assessment, select the appropriate research tools, and have a clear understanding of how the obtained data will be used. The set of these actions will allow you to evaluate the return on investment and improve the results of future campaigns.