Marketing Analytics: find out what it is and its advantages for companies

Decision-making is always an important moment in any company strategy. Whether related to an advertising campaign until the reversal of a customer who wants to abandon the purchase.

To avoid bottlenecks and achieve the objectives that the enterprise has, it is essential that all steps are thought out carefully and very well evaluated before they are actually implemented.

This is only possible with a strategy based on data, be it sales history or even customer consumption habits. Every piece of information is precious for evolution.

This is where Marketing Analytics comes in, this approach uses data analysis to guide the company towards success.

What is Marketing Analytics?
Marketing Analytics is an aspect of Marketing that works with the collection and in-depth analysis of data to identify opportunities for improvement.

In other words, it is a study based on standards that guides the company towards better decision-making.

With this study, it is possible to identify consumer habits and then find ways to make marketing actions even more assertive. This way, the company is able to direct its efforts more efficiently and avoid wasting resources.

This approach is widely used in strategies aimed at business growth. This is because much of the information collected and analyzed is used for long-term changes.

How Marketing Analytics works in practice

To better understand how Marketing Analytics works in practice, let’s consider the following scenario: a brand wants to start working with publications on social media to qualify its leads .

Follow:

Phase 1: Tracking

Before starting to produce the content that will be part of this strategy, this brand must consider some aspects such as:

Which platforms to work on;
Best times to publish;
Tone of voice that publications should have;
Visual identity ;
Size and format of content;
Algorithms of these platforms.

Social networks such as Instagram, LinkedIn and Facebook, for example, have types of users with specific profiles, as well as times when publications are most viewed and the type of format that is most successful.

It is important to highlight that, in these channels there is a multitude of information that does not necessarily serve the company’s objective at the moment. Therefore, it is necessary to draw up assertive planning to identify which data is useful.

In our scenario, the objective is to qualify leads through content on social networks, so the necessary information concerns users’ habits on these platforms and their content consumption.

Phase 2: Collection

During the collection stage, the company must gather all the information it obtained in the tracking phase and organize it. This process takes into account important KPIs to understand the effectiveness of marketing strategies.

At this point, information such as: number of followers, engagement rate, content opening rate, time a user spends on the page, among others, is observed.

As it is the most analytical stage of the strategy, the company must have an efficient organization and find effective ways to understand this data.

Phase 3: Visualization

After collecting and analyzing the data, it is time to present these numbers to the marketing team. In this case, it is the moment where information about content consumption habits and the chosen platforms will be understood by everyone.

To do this, you need to find a way to communicate clearly, after all, not everyone involved understands data analysis. Therefore, the use of graphics and other visual elements are important.

From this presentation, the extraction of insights begins to put the company’s strategy into action. Here, the steps that teams need to take to achieve their objective are defined.

Advantages of Marketing Analytics for Business

Marketing Analytics is a great ally for a better understanding of the target audience and the company’s strategies. Through it, it is possible to identify new opportunities and find points for improvement.

In addition to all this, data-based Marketing goes hand in hand with technology, a resource that must currently be implemented in companies.

Check out a little more about these and other advantages of Marketing Analytics:

Better performance analysis

Through data analysis, it is possible to identify the performance of marketing strategies. This is because this study allows the company to observe the results of its actions with much more assertiveness.

From this, the company is able to find insights to make changes to its strategies, find new opportunities and know what needs to be improved. This way, the actions are updated and do not lose performance.

Furthermore, through this constant analysis of actions, the brand can adapt its strategies for specific moments such as seasonal dates or major events.

Greater understanding of ROI

ROI is an indicator that provides information about the return on investment made in a campaign or action. From this number it is possible to observe whether the company’s resources are being used well and whether the result is as expected.

Understanding this value is important for the company to define the areas and actions in which it will invest. This way, these efforts are used with greater assertiveness and waste is avoided.

Furthermore, it is a way of deciding on the implementation of new technologies, increasing teams or even reorganizing the processes used.

Ease of understanding the customer

Marketing Analytics is the most assertive way to help an organization get to know its consumers in depth. This is because, through data, it is possible to better understand the consumption habits of these people.

Whether on social media, in physical stores or even when shopping over the phone, customers have a specific profile that can be used to develop strategies.

As a result, the company’s actions are better targeted at an audience that is more likely to be interested in its solutions. This way, the company can work with more specific triggers.

Ease of monitoring competition

The study of competition is an important factor for a company, through this analysis the company is able to find market niches in which it can work and new technologies to innovate.

With this, it is also possible to identify areas that the competition has not worked on lately and then invest in these areas to attract more audiences. It is worth remembering that the use of data to observe competition should not be invasive.

Studies with tools like SEMrush and Ahrefs can be used to find information such as: linking data, hits, website authority and much more.

Improves decision making

Decision making is the moment when a company decides what its next steps are. Therefore, it is extremely important that the organization understands the scenario in which it finds itself, its objectives and the resources it has available.

Furthermore, this process is based on data that actually has an impact, which leaves guesswork aside and allows teams to focus on something tangible for the success of their efforts.

It is worth remembering that decision-making must involve everyone involved in the projects. Therefore, the visualization phase must be as clear as possible so that teams understand the scenario in which they need to work.

Helps identify opportunities

By collecting data, the company can find much more than it is looking for. This means that, during the search for information, a store, for example, can find a new market with investment potential.

Given this scenario, new business opportunities, new audiences and even new projects may arise. Therefore, keeping your eyes open is essential for Marketing Analytics to bear fruit.