CA1MARKETING

ANALYTICS BBA 603

By Sonali Kumari Choudhary
Roll No: 14905020003
What is Marketing Analytics?
Marketing analytics is the study of
data to evaluate the performance
of marketing activity. By applying
technology and analytical
processes to marketing-related
data, businesses can understand
what drives consumer actions,
refine their marketing campaigns,
and optimize their return on
investment.
 PROS:
1. Insights Into Customer Behaviors and Preferences:
With permission-based marketing, you are able to gather extra intel that is like icing on the
proverbial marketing analytics cake. You gain a more comprehensive set of data points that you
can analyze and leverage to create custom lists that align with your targeting needs. Demographic
and lifestyle analytics help you develop very niche audiences that are relevant for certain
distributions areas, specific product interests, promotional activities, and more! Analytics help you
turn one large customer database into a collection of very customized target lists.
2. Audience Segmenting/Tailored Messaging:
Now that you've defined interest groups within your audience using analytics, you can deliver
tailored communications for a personalized approach. Is a new retailer carrying your product?
Inform shoppers in that area using the location data you've analyzed. Do you have some new
recipes rolling out? Share a link to those resources with shoppers who have expressed interest in
that kind of content. Analytics make your marketing efforts more successful when you are meeting
a relevant need based on your ability to understand your customers better.
3. Validation/Justification for Budget
Marketing budgets can be a tricky situation at times. It's not uncommon for the
person who holds the purse strings to not be involved in the day-to-day aspects
of the marketing program or even understand marketing at all. We recommend
using analytics to help set some guardrails and expectations that make the
marketing line item less undefined...and maybe less concerning. Marketing can
be perceived as a gray area with only theoretical benefits, so when you can
show results via marketing analytics each month - the value becomes much
more black and white.
4. Sales Support
Not only do analytics make your marketing efforts smarter, but they can support
smarter sales efforts too. They can be used to help sales decks tell a richer
story. They also provide the sales team with more ways to validate your
company as a preferred brand partner. If you have a hungry sales team looking
for persuasive talking points, marketing analytics is a great place to start.
 CONS
1. Data Paralysis
With good marketing software comes A LOT of data that can feel overwhelming. If you're considering a
transition to data-driven marketing practices, but feel overwhelmed with every report and every dashboard your
are looking at, consider taking a step back and identifying 3-4 metrics per marketing activity that you can track.
For example, if website analysis is new for you, focus on tracking monthly web visits, page views, and sources.
For social media, maybe it's simply community growth, engagements a,nd web referrals. Start small and as you
get comfortable tracking those things, you will begin to see trends or changes that cause you to give it a second
look and become interested in a new data point.
2. Data Indifference
Unfortunately, marketers committed to monthly data analysis and reporting are sometimes sharing that
information with leadership or other work teams that just don't seem interested. Don't let that deter you from
maintaining solid data that will help you answer questions down the road and deflect concerns about the plans
you have in place. Stay persistent in your own learnings to shape a marketing program that you know is working.
3. Data Requires Analysis and Understanding
If you're a one-(wo)man show or operate with few resources, it's entirely possible you have a team full of
wonderful, creative minds that just don't excel with numbers and graphs. Marketing analytics do require certain
skills that not all marketers possess. It's important to assign this responsibility to someone who can get lost in a
sea of numbers and come up with valid takeaways that highlight both marketing opportunities and marketing
wins.
 Five Online Marketing Tips:
• Start with Keyword Research: A stagnant keyword list is dangerous as it neglects
trends and information on new products or developments.
• Set up some Paid Search Marketing Campaigns: Group keywords in relevant
groups and write appropriate ad text to help improve your Quality Score, which will
lower your bid and improve ad position.
• Analyze the Results: Displaying your keywords in ad text prove to the searcher and
to Google that your ad is relevant to their search.
• Implement Natural Search: Google estimates that 80% of searchers click on
an organic result over a paid advertisement. Incorporate your best performing
keywords into your website and continue to generate relevant content.
• Repeat Ad Nauseum: Negative keywords are great because they prevent
unnecessary clicks and spend, ensuring your advertisement displays only for
applicable searches.
 Who uses marketing analytics?
• Every member of the marketing team can use some form of
marketing analytics. When the chief marketing officer and top-level
managers are putting together the company’s marketing strategy,
they’ll use marketing data analytics to design the right strategy.
When a marketing manager is putting together the marketing plan,
they’ll use marketing analytics to determine which channels should
receive the most focus when it comes to content distribution. When
an SEO specialist is creating a plan for keyword optimization, they’ll
use marketing analytics to choose the correct keywords to include
and important competitor behavior.
• In short, every marketer can benefit from using data analytics in
marketing if they take the right actions based on marketing analytics
information.
What actions can you take based
on analytics?
• Marketing departments can take an almost unlimited number of actions based on marketing
analytics, but this is a selection of some of the more common options:
• Incorporate keywords: Marketers can use keyword analytics software to determine the specific
words and phrases they need to optimize in order to gain organic traffic through web searches.
• Replicate successful campaigns: Social media data analytics in marketing (there are often basic
versions built into each platform) can give marketing departments an understanding of what types
of content or topics resonate with followers and result in traffic to the website or newsletter sign-
ups. Marketers can then increase that type of content to increase traffic.
• Engage new markets: Marketing departments can engage with a new segment of the market or
launch a campaign that targets a different demographic if analytics show prospective customers in
those areas.
• Optimize CRM: Agencies can also address bottlenecks in customer relationship management as
marketing analytics are included in those platforms to help assess funnel and churn.
• Adjust product fit: Because marketing departments can access behavioral, purchase history, and
website journey data for customer bases, they can better predict customers’ needs and purchase
preferences.