There’s no denying it, the world we live in today is heavily digital, and that’s not changing any time soon. In July 2021, Hootsuite released that there are a whopping 4.8 billion people in the world that are actively using the internet. The digital era is here! What does this mean for your business you ask? It means that it is more important than ever for your business to have a digital presence online, and that includes your marketing strategy’s analytics and data.

What is Marketing Analytics?

In short, Marketing Analytics is the measurement and optimization of your business’s marketing activities. But marketing analytics also directly correlates to the study of data that your business has gathered through marketing campaigns. This data includes your customer’s behaviors, preferences, geographical region, age, gender, and more. These metrics are important to a business because you can then use these metrics to understand your customer’s patterns to ultimately adjust your future marketing strategy.

How Do Marketing Analytics Benefit Your Business?

There are many benefits in using and understanding your business’s marketing analytics when creating your business’s marketing strategy. Here are a few ways marketing analytics can help you take your brand to the next level.

Understanding Your Customer

Marketing Analytics allow you as a business to track and pull pages of data about your target audience. You will be able to track their demographics such as age, gender, and geographical location as well as understanding their behaviors, like how they will act online and how to get conversions. These metrics can allow your business to market to your target audience appropriately.

Making Industry Predictions

By understanding your business’s marketing analytics, it is possible to conduct a predictive analysis. A predictive analysis can help you as a business owner make certain decisions that are smart and backed up by proven data. By conducting a predictive analysis, your business can start to predict what you need to be marketing and the time frame you need to market in. Plus, marketing analytics can help you predict and prepare for certain trends within your specific industry, helping you perfect your business’s marketing plan.

Optimizing Your Digital Marketing

After getting a better understand of your target customer and how to market to them, you can start to analyze exactly why that audience interacts with your marketing content the way they do so. By figuring this out, your business can adjust your messaging, channels, frequency, and more to enhance your marketing campaigns and tailor your content to your target audience.

Which Marketing Analytics Are Essential to Use and Understand?

Which Marketing Analytics should your business be focused on? Data analysis can be time consuming, but here are a few metrics you do not want to forget about:

  • Conversion Rate: Your business’s conversion rate is an indicator of the quality of the traffic you are attracting. This is the area where you will see the number of your leads that have converted into sales. If your business is getting conversions, then your business is earning revenue.
  • Frequency and Recency: These fancy words are used in Google Analytics to explain two things- how often a visitor returns to your website within a specific time frame (frequency) and the length of time since that certain visitor last visited your website (recency). Google Analytics uses the word “session” to explain a website visitor’s experience on your website. These sessions, allow Google to track each visitor and their sessions, showing you what pages they visited, how long they were on each page, and more.
  • Days to Transaction: Calling all E-commerce websites- this one is especially important for you! Using Marketing Analytics, you can see the time duration between a website visitor’s first visit and the time they decided to make a purchase. These metrics can allow you to examine their behavior on your website and help you as a business see insights to their behavior.

The Most Important Thing About Marketing Analytics

Understanding marketing analytics is significant to your business’s brand presence online. They give you a multitude of data about your target customers, allowing you to make informed decisions about your customer’s buying habits and behaviors. Overall, Marketing Analytics help boost your business’s marketing efforts because they give you the appropriate insights to understand your target customers.

Knoxville Marketing Company that Puts the Data First

At Smarketing, we meet with our clients on a monthly or quarterly basis to review your business’s marketing analytics with you and help you understand each different sector of the reports. We know the importance of the data and metrics, and we know how to implement the results into a stronger marketing plan for your business. Understanding marketing analytics can allow your business to further expand your brand’s online presence and increase your revenue. Contact us today at 865-963-0642 or reach out to us through our website.