marketing analytics
Marketing Analytics is the act of tracking, collecting and analyzing data to evaluate marketing effectiveness and guiding future marketing decisions. Marketing Analytics encompasses a wide range of data such as page views, impressions, email opens, clicks, unsubscribes and leads.
This process helps marketers understand and quantify the effectiveness of programs, campaigns
Beyond basic reporting, data contained in the analytics can lead to insights, which guide future decisions and actions on spending, strategy
Business to business (B2B) marketers will also use marketing analytics to track Return on Investment (ROI) by channel, campaign
Marketing Analytics Tools and Techniques
The first step in marketing analytics is instrumentation: setting up systems to capture the desired data and record it. For example, JavaScript code may be inserted on web pages to trigger calls to an organization’s web analytics system. Mixpanel and Heap are examples of marketing analytics tools. Mixpanel can be used to track user interactions in web and mobile applications, as well as be used to perform A/B tests and user surveys. Heap can track data such as emails, clicks, transactions in
Once the web analytics system captures and stores data, the collected data is made available to marketers via dashboards and reports. Solutions range from simple and low-cost (e.g., spreadsheets) to complex and expensive (e.g., enterprise analytics software). Heap, for example, allows users to analyze product engagement, feature adoptions, retention, and conversion rates.
Marketing reports and dashboards are then shared with other groups, such as Sales and executive management.
