3 Ways Analytics Could Improve Your Marketing Strategy
At the heart of every marketing strategy is the customer. Understanding who they are, what they do, and their experiences with your company is vital to getting it right every time.
Every campaign you run generates huge amounts of data that could be key to unlocking the best next steps, letting you see where your strengths, weaknesses and points of progress are.
But how can you ensure you’re making the most of your data?
Analysing data can create a wide range of information to utilise, and this can impact your marketing strategy in a multitude of ways, but where to start? In this blog, we’ll be taking a look at 3 ways using analytics could help you improve your marketing strategy and get the most out of your data.
1. Cohesive Customer Profiles
Fitting customers into restrictive or vague profiles risks having potential conversions fall through the cracks as your marketing strategies completely pass them by. Fully utilising the data provided to you by your customers – both current and potential – means understanding them as individuals, not segregated categories.
Knowing your customers goes far beyond just demographics. When tracking your campaign outcomes, you’re able to discover what platforms your customers frequent most (whether during business hours or downtime), what groups and events they contribute to, and what types of content get the best reactions from them.
In a time of clickbait headlines and sky-high bounce rates due to interest that dies as soon as it’s generated, it’s important that your marketing not only grabs your audience’s attention, but maintains it throughout your interactions. This gives you the best chance of getting those conversions and avoiding having to entertain potential customers that have no real interest in what you’re providing.
By understanding your customers on a deeper, more personal level, you’re able to angle your marketing efforts with greater specificity, meaning you only attract the customers you want (i.e. the ones most likely to convert!).
2. Track Your Progress
You want every campaign you do to be bigger and better than all those previous to it, and to know exactly how to change things up so your next campaign outperforms this one. But keeping track of your progress can be tough, with hundreds of platforms to market from, and a multiplicity of metrics that all seem equally important, from PPC and SEO performance, to NPS and CTRs.
Properly used analytics can mean the difference between having all this data floating around being lost, and having a cohesive look at exactly how you’re performing, your weak spots (if there are any!) and your strengths that deserve a little more focus.
By knowing exactly where you are right now, you’re able to plan your next steps accordingly, keeping your content fresh and angled towards your audience, getting the best results for your business.
For additional tips on how to keep your marketing fresh, check out our blog post here.
3. Maximise return on investment
ROI is probably the easiest metric to track progress with. Getting back more than you put into a campaign is a near-immediate measure of success, so getting the best ROI possible is a priority.
Continuing on from our last point – knowing what’s working and what isn’t can minimise wasted resources by making sure you’re hitting the right targets without having to wait for the campaign cycle to have finished. Now, you don’t even have to wait for analytics reports to be drawn up before you can react to changes, as AI technologies have developed to allow real-time insights into campaign performance, giving you a head start.
There are so many lessons to be learned from the data you collect, and effective analytics gives you the best shot at making the most of it.
At iSpot for Marketing, we’re committed to getting you the best results possible through our Search and AI powered analytics, allowing you to see in real time how your campaigns are performing and plan your next steps.