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But to truly benefit from these tools, it is necessary not to limit yourself to a single approach. Digital marketing strategies are carried out on multiple channels, so it is essential to collect data on each of them, but not in isolation, but in a comprehensive manner.
What is Marketing Analytics?
It is a discipline that includes all the processes and technologies involved in analyzing the performance of marketing actions in order to make them more efficient and optimize the return on investment.
Some of these processes are web optimization, traffic capture, and user loyalty techniques. The analysis of all online marketing actions is a fundamental part of maximizing the company's performance and achieving its objectives by transforming data into valuable insights.
These data, obtained through metrics, are essential tools, but they do not perform the same functions as Marketing Analysis. Metrics are just data, while analysis puts that data into context and shows the ROI of marketing actions. In this way, by having a deep understanding of the user, by detecting their needs and concerns, the company will gain a competitive advantage.
Why is it important?
Marketing Analytics allows you to analyze metrics from a broader perspective to generate new strategies and optimize existing ones. Therefore, it is important to analyze the numbers to understand what these data tell us about people's behavior, since these alone do not tell us anything.
The data obtained should not only be evaluated from its numerical value, but should also be interpreted in the context of the market to detect its preferences and inclinations.
Benefits of Marketing Analytics
The most obvious advantage is that it provides the necessary elements to make better decisions, as it allows obtaining real-time information on the correct metrics at the right time. With this, the performance of marketing actions and certain patterns can be identified.
It helps to observe marketing trends from a general perspective and make predictions.
It contributes to the extraction and analysis of structured and unstructured data from any customer touchpoint.
It helps to understand the ROI of each campaign in depth. According to data from the last 8 years, these analyses free up between 15% and 20% of marketing spending.
Helps provide a better customer experience.
Some considerations
Despite the vast amount of information that can be obtained, it is advisable for marketing teams to customize their dashboard and the visualization of their Marketing Analytics tools to obtain relevant data according to their interests and the company's overall strategy.
It is also important to thoroughly understand customer purchasing behavior, which has inevitably changed in recent years due to the evolution of the digital age. Nowadays, the purchasing journey is much more dynamic and the consumer is susceptible to multiple influencing factors during the purchase process. With analysis, it is possible to identify these moments and direct direct strategies at the right time and place .
With Marketing Analytics, marketers will be able to track their campaigns in real time, allowing them to analyze and detect current market trends.
