Your business has access to huge volumes of data that can power and improve your marketing efforts. Using the data your business has available, you can analyse everything from your most popular products to the average age of someone who uses your services. You can also break this data down however you like, including to the individual level.
All businesses have access to similar types of data, but the most successful businesses effectively aggregate it, interpret it, and utilise it. After all, although the data itself is important, what you do with your data is what ultimately matters. Unused data provides no benefit to your business, and data that’s interpreted incorrectly is also of no benefit. This is where marketing analytics comes in.
How can marketing analytics help you?
Marketing analytics is one of the best ways of understanding customer journeys and finding out what’s working in your campaigns. Essentially, marketing analytics has two main purposes:
- Helping you accurately measure the effectiveness of your marketing campaigns
- Helping you determine what you can do differently to improve the results of your marketing efforts
Rather than just focusing on the performance of your website, marketing analytics takes a whole-picture approach that includes conducting an analysis of onsite indicators, offsite metrics, and even offline marketing efforts.
With this complete picture available, you can accurately measure how your marketing campaigns have really performed. Plus, with the help of marketing analysis tools, not only will you be able to explain to others that a campaign has worked, but you will also be able to demonstrate how and why. You’ll also then have the data required to quantify and improve future decisions.
How do marketing analytics tools help?
Marketing analytics tools will help you transform raw data into key marketing insights that will improve the performance of your campaigns. With the help of marketing analytics software, you can instantly find patterns in data and reveal insights about your customers. By using this software, you’ll find it much easier to understand and predict user behaviour, as well as optimise the user experience to increase ROI and drive sales.
Marketing analytics tools also help you plan, manage, and evaluate your marketing campaigns across every channel. Plus, they can also determine how these campaigns can be improved and provide you with data visualisations that will help you get stakeholder buy-in.
Added to this, engaging with marketing analytics tools will allow you to dig a lot deeper into the detail and learn more about how all of your marketing decisions are interacting. As a result, you’ll be able to effectively prioritise how you spend your time, how you build your marketing team, and how you can increase your return on investment.
Although marketing analytics software allows you to perform a real-time analysis of your marketing efforts, it can also provide you with insights into previous campaigns. By effectively analysing the data available, you can avoid making similar mistakes and amplify your previous successes.
In addition to this, marketing analysis software can also give you an insight into what might happen in future campaigns. By using predictive modelling and regression analysis, you can forecast changes in customer behaviour and predict the likelihood of future outcomes. This way, you can stay ahead of your competitors and ensure you’re always reacting to market movements.
Our marketing analytics software makes it easier than ever to understand your audience and assess the performance of your marketing campaigns. With the help of our software, you can rapidly organise all of your customer data and generate insights that will power high-performing campaigns. Plus, by enlisting the help of dedicated marketing analytics tools, you’ll be able to effectively mine a wide range of customer data, identify patterns in transactional data, and run predictive modelling. By using tools to help with your analysis, you will improve the relevance of your campaigns, better understand your audience, and get an insight into how you can predict or influence future campaigns.
However, as well as helping you analyse and interpret the data you have available, marketing analytics tools can also help you visualise data from your campaigns and show stakeholders how effective your marketing efforts have been.
With this in mind, let’s take a look at why data visualisation is important in analysing marketing activity, and the role data visualisation software can play in improving your marketing efforts.
The role of data visualisation software
In the age of big data, a picture is definitely worth a thousand words. On a business level, a picture may even be worth thousands of pounds.
Our analytics software solutions are much more than pieces of data visualisation software. The solutions allow you to explore millions of data records in seconds and help you interpret patterns using interactive visualisations. This means they are key tools in helping you check and understand the characteristics of your audience.
Using data visualisation software, it’s easy to create interactive charts, Venn diagrams, word clouds, and profiles from your data. Using graphics, diagrams, graphs, and maps, you can capture quantities and distributions at a glance and quickly derive correlations.
Today, data visualisation software goes far beyond the static graphs and charts of yesteryear. Now, interactive graphics, charts, and diagrams are offered. This means that different details can be displayed at the click of a mouse. What’s more, if you’re displaying the effectiveness of your marketing efforts to a different stakeholder who likes to see data presented in a certain format, then you can transfer your data from a table into a diagram and vice versa in only a couple of clicks.
Alternatively, if you prefer, then it’s simple to design beautiful, branded dashboards using our Apteco Orbit™ platform. This way, you can share insights across your organisation. Visualisations are always updated automatically to reflect the latest data refresh, so your teams can always work with up-to-date information.
By using a piece of data visualisation software, you can dig even deeper into your data. This means that you can extract even more value from the data your business has generated. If you’re an advanced analytical user, then you’ll also have access to modelling techniques.
On top of this, with the help of data visualisation software, you’ll find that it’s easier than ever to check and understand the characteristics of your audience. Using the data you’ve analysed, you can create audience profiles by identifying common traits between customers. Using the profiles you’ve created, you can create customer segments that will improve campaign engagement rates.
Importance of marketing analytics
The importance of marketing analytics is best demonstrated by the benefits of conducting the analysis. By effectively using marketing analytics software and then leveraging the insights provided, your business can:
- Provide all stakeholders with a comprehensive view of the performance of your marketing campaigns across all channels, and on a channel-by-channel basis. This will help you understand granular marketing trends and show you which campaigns are providing the best ROI
- Gain the insights needed to optimise your marketing efforts and target your most profitable customers. Your marketing analytics tools will provide you with these insights and allow you to generate better leads that will ultimately provide your business with more sales
- Discover more about the behaviour of your customers and understand how they interact with your business. Once you understand the behaviour and preferences of your customers, you can then use this information to tailor your marketing activities to ensure that you are meeting the needs of each individual
- Use data provided by your marketing analytics tools to support informed decision making. Modern analytics tools allow you to analyse data in real time, meaning you can be proactive in the way that you manage your campaigns and adjust them as required to make sure you’re always achieving the best possible results
According to a recent report from ITSMA and Vision Edge Marketing, 74% of marketers cannot measure or report how their efforts impact their business. However, this further underscores the importance of marketing analytics. After all, by consistently monitoring your efforts, you can easily track and measure the performance of all your marketing campaigns. You can then also access lots of data that will not only show you the effectiveness of your campaigns, but will also validate your actions and demonstrate the value of your activities to the business.
On an ongoing basis, you can then use data visualisations to show other stakeholders how the performance of your department has improved over time and how you’re maximising ROI and minimising budget waste.
If you’d like to learn more about how our powerful suite of tools can help you remove the noise of untargeted, irrelevant marketing, then share some basic details with us and book a demo. Alternatively, test drive the Apteco Orbit™ platform today and experience the power of marketing analytics software for yourself.