Introduction
Marketers today are tasked with keeping up with the ever-changing technologies and trends that can affect their business. Many marketers have turned to analytics tools to help them navigate this rapidly changing digital landscape.
Marketing data analytics tool can help you understand your customers better by analyzing data from multiple sources and helping you make more informed decisions about what content to create and how best to promote it on social media channels or paid advertising campaigns.
If you are not using any tools, here are some reasons you must use analytics tools to help your marketing efforts.
Identify the highest converting channels and mediums
Using marketing tools, you can identify the highest-converting channels and mediums driving the most sales. You can then allocate resources accordingly. This is particularly useful when deciding which channels are best suited for your business
For example, suppose you have an eCommerce store and see that social media is converting well for you while search engine optimization (SEO) isn’t generating much revenue. In that case, you should focus on increasing your social media presence over time rather than investing in SEO.
Understand how organic and paid traffic performs
Marketers often hear these terms being used interchangeably, but they refer to two types of marketing efforts. Organic traffic refers to the kind that comes from people who find your website via search engine results, while paid traffic refers to those coming through an ad shown on a third-party site or app.
Analyze the impact of individual marketing channels
- You want to know which channels are most effective at driving revenue, leads, and customer acquisition.
- You want to see how each channel performs over time, so you can keep improving your marketing strategy.
- You want to be able to segment your data by different parameters like product type or geographical location.
The best marketing data analytics tools will enable you to do all of the above—and they’ll also let you compare performance across multiple channels in one place.
See the impact of your email marketing campaigns.
As a marketer, you want to see the impact of your email marketing campaigns. You want to know which emails are performing best, how many people are opening and clicking on your emails, how many people are unsubscribing, and what is generally happening with them.
Identify programs that are not delivering ROI.
Another benefit of using a marketing data analytics tool is that you can identify programs that are not delivering ROI. A program not delivering ROI should be stopped, reworked, and tested with a new audience.
- Stopping the program means it will no longer be executed in your marketing plan. The reason why it’s not working could be because:
- The offer is too expensive for the return (poorly targeted) or doesn’t incentivize customers to buy now (poorly timed). – Your messaging doesn’t need to be more compelling to convert traffic into leads or sales (ineffective creative).
Conclusion
There are many more benefits to using marketing tools, but these are just some of the most practical ones. However, before using any tools, you must assess the efficacy of each tool and understand the value they can add to your daily usage and marketing plans.
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