First of all, marketing runs on data. Knowing how to make sense of that data is crucial if you are to drive business performance forward. In this Focus On Series, we explore what it is and why you can’t afford to overlook this vital marketing convention. Read our marketing analytics short guide to find out more.
What are marketing analytics?
Let’s start with a definition. Marketing analytics refers to the practice of measuring, managing and studying your data.
Marketing dashboards and tools such as Google Analytics, Kissmetrics and more are used by marketers to gather and analyse customer behaviour.
By understanding marketing analytics, businesses determine what worked; why and calculate the ROI of marketing campaigns.
Think Beyond takes marketing as a science seriously. We work with businesses to develop marketing plans and measure the success of those plans. Automated reporting and custom marketing dashboards are just some of the solutions we offer beyond this marketing analytics short guide.
Find out how we can help you know what good looks like by calling 01565 632206.
Analytics are not metrics
One thing marketing analytics should not be confused with is metrics.
Marketing metrics are what is measured, the data itself. By contrast, analytics adds context to the data and reveals the true story of your marketing efforts. It is this analysis that is pivotal to communicating both the value of and where improvements to your marketing are possible.
Why analytics in marketing matter: The sales impact
Aside from the optimisation benefits, a thorough analytics programme allows for big picture insights, to monitor trends over time and importantly, to forecast future results.
And why does this matter? Because in today’s digital world, marketing is increasingly responsible for the early stages of the sales cycle. Marketing departments have more data than ever to map personas and model revenue cycles. The emphasis upon sales and marketing alignment is not to be underestimated here; accurate data transfer and ways of working between the two departments is key if companies are to maximise how they engage, inform and convert customers.
Forecasting sales also allows marketing to demonstrate its value to the wider organisation, including the C-Suite.
Get to grips with marketing analytics with Think Beyond
What’s holding back your analytics? According to one study, more than 80% of senior marketing executives reported being dissatisfied in their ability to accurately measure marketing ROI .
Think Beyond is a marketing and business consultancy that solves this problem by offering data backed and strategic solutions. Whether you want support developing a marketing plan or identifying KPIs and tracking them, we have a solution for you. If you need support with aligning your sales and marketing teams or a voice at board level to push the marketing agenda, our team are here for you.
Book your free consultation
Start your Think Beyond journey by booking a free marketing consultation today. Our qualified marketing consultants can create your marketing dashboard and review it with you monthly.
Call 01565 632206 or email hello@think-beyond.co.uk. Alternatively, you can complete our online contact form to request a call back.
Furthermore, discover what motivates the Think Beyond team and why we are different.
Finally, if you liked our marketing analytics short guide, why not take a look at our marketing news and insight blog to find out more.