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Methods of marketing analytics

The marketing analytics process is perhaps the most complex task for any brand. It is not a quick and easy process. The traditional ad agency approach to marketing analytics is to undertake small-scale surveys to gather data and insights. Whether you are conducting research, developing hypotheses, or measuring the impact of a marketing campaign, you need to have a clear understanding of business metrics.

The web is different. The web is a networked, massively multiplayer online world. The web is an information superhighway. Users have the ability to access every part of the marketing analytics process from the web. The web is a natural platform for digital marketing, since all marketing communication is instantly and completely available.

What is marketing analytics?

Marketing analytics is the process of discovering how your customers are engaging with your brand and with your products or services. It can involve surveys, focus groups, or interviews. Marketing analytics can also involve taking marketing metrics of special events, such as the launch of a new product or service, a major sporting event, or a conference call with a large group of clients for marketing optimization (marketing to the right people).

Research projects that use marketing analytics can be very time consuming. In order to minimise this risk, you should aim to conduct your research using tools that allow your focus groups and interviews to participate fully, such as Google Surveys or Focus Groups.

Brand new comers to marketing analytics

The first step is to understand the data you need to get started. Marketing teams must understand the analytics and how to integrate them into their practice. This requires a basic understanding of statistics. For example, if marketing analytics were not a field but a set of operations management principles, marketers would be clueless about the analytics. To get the most out of your marketing analytics, you must first understand the basics. The following is a list of the most-cited marketing analytics. These are the most-used analytics and related concepts by marketers:

  • Social media analytics

  • Customer support analytics

  • Advertising analytics

  • Marketing optimization

  • Marketing models

  • Marketing to the right people

  • Marketing through social media

  • Social media marketing analytics

  • Customer support analytics

  • Advertising analytics

  • Marketing strategy

  • Marketing model analytics

  • Marketing analytics

  • Marketing metrics analytics

  • Marketing to the wrong people

Marketing analytics is a broad subject that can encompass a wide range of business practices and activities. While most of the steps are the same across the board, there are some key distinctions. For example, while there are traditional ad agencies involved in the marketing analysis, there is a huge range in expertise between the traditional ad agencies and the social media channels. In this guide, you will learn about social media analytics and how to leverage social data to drive marketing campaigns.

How do I start?

Before you begin, start with a few basic tools like Google AdWords and Facebook Ads. Then, as you gain knowledge, expand your scope to include other marketing metrics to track campaigns on a more granular level to understand the impact of a particular marketing strategy to help improve your marketing campaigns.

How do I acquire marketing analytics?

As you begin to understand the science behind marketing analytics, you can begin to expand your scope. For example, ask yourself:

  • How can I optimize my Facebook ad?

  • Or, how can I increase revenue by 20% by advertising on LinkedIn?

If you want to learn more about marketing analytics, you can start with guides on marketing metrics: An integrative guide of marketing metrics are a must have for any marketing organization. Whether you are conducting research, developing hypotheses, or measuring the impact of a marketing campaign, you need to have a clear understanding of business metrics. Understanding Marketing Analytics is vital for marketing teams to work out how and where to apply analytics to improve their campaigns.

Marketing analytics can be a complex subject, particularly for people new to the area. While there are many resources available, we have attempted to provide you with a basic outline of the available research topics.

What is the difference between marketing analytics and cost per acquisition (CPA)?

Cost per acquisition is the price that a brand or product or service is expected to pay for acquiring a single customer in its retail, distribution, and / or brand-specific market. It is often calculated as the the cost to get a customer divided by the number of customer. That has implications on expected revenue and on sales efficiency. For example, if a brand or product sells units with a lower CPA, its calculated cost per unit sold will be lower, and the total revenue will be higher.

What tools can I use to track marketing performance?

You can utilise a range of different marketing analytics tools to monitor marketing performance. You can use Google Trends to monitor trends in your keywords.