Marketing trend started to be more diverse in the 21st century. The digital marketing revolution demands companies to create more relevant, targeted ad campaigns. This means personalizing the ads to match specific customer demography you aim for. Data analytics are important tools in conducting successful marketing strategies.
Some new or growing business owners neglect the importance of data analytics. This leads to ineffective ad campaigns and poor marketing efforts, because the companies don’t understand what the customers want. This guide explains why data analytics are essential and how you can use them.
Elements in Data Analytics for Digital Marketing
Data analytics in marketing related to how modern consumers shop. More than 80 percent of global consumers look for recommendations, reviews, and inspirations online before shopping. The spread of cheap mobile devices makes the research much easier for consumers, even in small towns and villages.
In data analytics, companies use the “big data” to create and evaluate their business strategies, including in marketing. The big data play in several important roles, such as:
· Scrutinizing ad demographics
Unsure of which demographics that respond the most to your ad campaigns? Data analytics inform you about the details of target customers, such as age ranges, genders, professional/educational backgrounds, and other information. You can use them to determine the right marketing strategy.
· Checking website traffic
Many companies and business owners have concerns about website traffic. It determines the amount of ad conversions and business popularity.
· Noticing the bounce rates and lapses
Data analytic tools provide information in the forms of graphs. You can use these visuals to notice lapses and bounce rates, such as the numbers of people who immediately leave after reading just one page.
· Recording the link referrals
When someone shares the link of your website to other platforms, such as Facebook, Twitter, Instagram, and other websites, they give you link referrals. They contribute to the business’ reputation, especially if people click the link to visit your website.
· Checking the most-viewed webpages
Depending on whom you write about, the most-viewed webpages often lead to more exposure (and purchases). If you have multiple webpages that constantly draw high traffics, think about which parts of the webpages that attract so many people.
· Checking the Likes, Dislikes, and Comments
Many casual social media users don’t depend on Likes, Follow, Dislikes, and Comments. However, if you have a business, those things can give influential purposes. The numbers of Likes, for example, show the most favorite or sought-out products. Meanwhile, comments show the level of customers’ engagement.
Google Analytics is the most popular analytic tool. Its professional-looking data may look intimidating at first, but they provide complete data about the effects of your marketing strategy. Consider hiring a marketing analysis expert to read the data and break it down for you.
Things You Can Do with Marketing Analytics
Collecting data is the starting point of digital marketing analytics. However, everything is useless if you don’t know what to do with the numbers. Here are several benefits you can take from processing data analysis results.
· Delivering the right message to customers
Different demographics require unique ways of communication. Marketing for middle-aged people with a steady income, for example, is different from promoting to teenagers. Marketing analytics help you creating contents that fit every demography.
· Comparing marketing strategies
If you apply several marketing strategies, you will want to see how they perform. Data analytics results show the success level from different methods. You can use them to evaluate all the marketing results.
· Reaching specific marketing goals
When determining a business plan, you should have goals in mind. The marketing goals must have a clear period before you can see the resulting data, such as 12 months. The data help you determine whether your results are great or not.
· Evaluating the marketing strategy (including errors)
You can only evaluate marketing results if you already have the data. With data analytics, you can see where the strategy fails to reach the expected result. You can target the problem directly and solving it quickly. Once done, repeat the program and see how much you can get from this solution.
The results of marketing analytics must become the “workbooks” for business owners to keep growing. Use the past data to determine how you should apply your strategy.
Which Digital Marketing Elements Must You Focus First?
Despite the overwhelming numbers of data, a company should focus on three things to avoid becoming humiliated. They are:
· Conversion rates
Conversion rates are based on how many purchases a customer does after seeing (and clicking) the online ads.
· Lapses between clicks and purchases
Data analytics present you with period lapses between the ad click and real purchase. Look at the lapses and try determining the possible causes, which might be hesitations or lack of information for customers.
· Daily and monthly traffics
Daily and monthly traffics show specific patterns about customers’ habits. You can see how many people are visiting your website, and what makes those webpages interesting for many people.
Digital marketing analytics is as important as the other business elements. Use digital marketing to create the most personalized ad campaigns for your targets.