Marketing Analytics Defined
Marketing analytics is the practice of measuring, analyzing and managing a businesses marketing performance to maximize its effectiveness and to optimize its return on investment (ROI).
Marketing analytics, allow a business to monitor their campaigns and respective outcomes, enabling businesses to gain valuable insight into what consumers are and are not responding to, allowing businesses to spend their marketing budget more effectively.
Marketing analytics, allows businesses to see the answers to such questions as;
- How are a businesses marketing initiatives performing? How will they perform in the future? What can a business do to improve their performance?
- How does a businesses marketing activities compare with their competitors’? Where are businesses spending their money? Are businesses using channels that competitors may not be? Where the gaps in a businesses marketing strategy?
- How is a businesses attribution model working? Is there another attribution they could be using instead?
- Are a businesses marketing resources properly allocated? Are businesses devoting time and money to the right marketing channels? How should they prioritize their investments for the following year?
In Data Defined, we help make the complex world of data more accessible by explaining some of the most complex aspects of the field.
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