Over the years, digitalization has become so widespread that it has penetrated different aspects and functions of the corporate landscape including sales, HR, and most of all, marketing. Marketers tend to be more data-savvy nowadays and have access to an endless supply of important insights into their performance, opportunities, and customers which helps them devise and implement effective marketing strategies.
These days, if the marketing department of your organization does not become data-driven by using analytical tools, you risk getting trumped by competitors as well as lag behind with customer expectations. As per a survey, up to 75% of customers expect businesses and marketers to anticipate their needs and it may not be an unreasonable request now cause today we live in the age of hyper-personalization, where many large organizations are setting examples for providing connected, omnichannel and seamless customer journeys.
To put it simply, marketing analytics is used to recognize customer behaviors and patterns from the data and information available that will aid in devising smarter and more effective marketing strategies. You can analyze a single campaign or platform, or see how multiple different campaigns interact with one another.
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There are different marketing tools out there like Google Analytics, Buffer, and SEMrush. But in order to make sure they run smoothly, you need to have a reliable internet connection in place, and if in any given case you don’t have one, you can subscribe to HughesNet Internet services.
Now that we know what marketing analytics is, let’s dive into the few benefits of it:
Sophisticated Customer Segmentation
In order to deliver relevant and impactful messages to leads and customers, marketers rely on the process of customer segmentation. After all, an email or a social media post designed to target females between the ages of 25-55 wouldn’t necessarily have the same impact on, shall we say females between the ages of 18-25, despite the product or service being of use to both customer groups.
Marketing analytics tools enable you to instantly group customers based on the different data and metrics gathered, which will help in creating more targeted campaigns.
Viewing Customers’ Journeys on Multiple Channels
To gather insights on leads and customers, marketers need to interact more with them. This has become particularly easy given that we live in a digital age where there are different communication mediums customers spend time in and marketers can reach out to them on these different mediums.
To gain a comprehensive understanding of how to interact with a customer, marketers track customer behavior including buying activity across channels and engagement. This includes strategies that can increase brand value and the kinds of communication medium the audience responds best or worst towards.
Marketing has always been about using the right techniques and strategies to persuade the target audience into buying your product or service. However, marketing today focuses on delivering personalized messages to both potential customers and customers alike, instead of trying to persuade the masses.
If you send something irrelevant to a prospect, they will likely disregard the message alongside the product or service that your brand offers. Marketing analytics tools play a vital role in the mode through which a message is sent and the timing of that communication. It allows businesses to reach their target audience when they are in a good state of mind, likely to make a purchase.
Using marketing analytics when devising marketing strategies can significantly reduce the risk of wasted efforts and investments in campaigns that most likely won’t be fruitful. With the help of marketing analytics, you will be able to make decisions based on data instead of instincts and assumptions which will allow you to plan everything more strategically.
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