Data analytics is the use of hindsight to predict future outcomes. With the use of machine learning, statistical analysis, artificial intelligence, data mining and data modelling, a user predicts consumer engagements patterns and sales.
Digital marketing is modern-day marketing where organizations and individuals use digital platforms to reach their targeted market with targeted information.
Sources say that digital marketing is one of the most successful and impactful trends to follow in the 21st century.
For digital marketing to be successful, data analytics plays a crucial role in marketing campaigns. It extracts information from big data and spots trends and highlights aspects of behaviour, interests and presence. These informed sources will advise the business on how to run campaigns.
Data Analytics Tools to Enhance Your Digital Marketing Campaigns
To be ahead of the game and get the best ROI, firms should embrace the technology behind successful digital marketing campaigns.
This is the use of data analytics, deep learning, AI and ML among other important tools. These tools are powered to generate insights that are vital to any business.
Applications and Use Cases of Data Analytics in Digital Marketing
Understand your customers
Customers on digital platforms are complex. Creating a one size fits all campaign to reach customers doesn’t work since each customer has a different taste and preference.
To stay on toes with the changing trends and implement successful digital marketing campaigns, firms use data analytics to collect information about clients and study their historical behaviour, these well-analyzed patterns help businesses know which customers to reach, what content to share and which platform works for a particular product and clients.
Sophisticated marketing tools have created opportunities for businesses to use a customer-centred focus approach when creating content for campaigns. This has improved communications between businesses and customers.
Audience for instance collects customer trends to help you to run laser-targeted outreach and understand customer personas better.
Online campaigns are mostly meant to trigger actions directly from users online; however, some customers are hard to convert. Some customers take time to convince therefore need customized content to specifically persuade them to initiate actions.
Data analytics can help identify these types of buyers based on their historic behaviour. Offline actions can include in-store visits, calls and requests for demonstrations e.t.c.
Studies show that content like “available offers” and site chatbox triggers offline action, it prompts the reader to engage. Knowing this type of customer improves traffic in stores and increase sales.
Lead scoring, up-selling and cross-selling
Taking advantage of the leads from a previous campaign is what lead scoring is all about. Creating content for leads that are not ready to purchase is a waste of time.
Data analytics helps prioritize leads; filter out ready buyers from other online visitors by analyzing their stand in purchasing funnel. It also helps firms to create content for new audiences and buyers that need more persuasion.
Data analytics tools also help identify customers who might need to upsell and cross-sell; it also helps identify items that might be bought by the same customers based on the historical purchasing data of other consumers.
When using email marketing to do campaigns, businesses fail to decide how frequently to send emails. Sending them too soon could bore the targeted customers while sending them rarely would appear as if the company isn’t active.
Using a frequency optimization tool will help predict which customers will be interested in open emails and which ones would not. Businesses will only target the potential readers with targeted content and easily convert them to buyers.
Data analytics tools collect a set of alphanumerical characters and convert it to usable data for your business thus doubling your ROI.
Based on the historical data and insights, you can make informed decisions about your campaign. Data analysis assures you have the best campaign strategy by getting the right content to target the right audience.
Customer lifetime value (CLV)
Understanding your current customer’s value to your business is a plus for you.
Data analytics collects data on the CLV of your current customers. Utilizing the data guarantees success of your digital marketing campaign.
CLV have remarkable results for business campaigns; it helps customize your campaigns based on your customer profiles and segments and minimize the cost of your campaign thereby assuring ROI.
Online web marketing
It refers to the process of leveraging marketing benefits to web-based channels and spread brand awareness. The process involves several channels like Email, Social Media, Online Advertising, Search Engine Optimization (SEO), Google Adwords, etc. All these digital components are fueled with AI-driven digital marketing analytics which majorly focuses on customized market research. Based on such research strategies are formed and campaigns are executed. Moreover, it leads to expansion of business through online marketing channels and let organization use the full potential of digital marketing platforms. Also, the most convenient method of online web marketing tremendously saves the administrative and operational cost involvement too.
Once the digital marketing campaigns are launched, now it’s time to measure the performance of the campaign. The effectiveness of the company is measured by considering the overall web traffic, traffic by source, conversion rate, new visit rates, bouncing rate, on-page session time, etc. All these factors which are major metrics of digital marketing analytics play an essential role in determining the impacts campaign has created on the end-user and channelized their healthy responses towards the growth of the brand. Furthermore, being based on Artificial and Machine Learning algorithms it helps companies to understand and analyze the post-sales expectations of the clients/customers.
Web analytics is a sub-part of digital marketing analytics and precisely focuses on the performance of the website (web pages). As a result, it deals with web page optimization to make it extremely user–friendly and traffic-oriented. Since websites are the center point of every business ecosystem, therefore, companies want them to be in the limelight. As a result, data-driven web analytics tools and algorithms are deployed into the process which not just contributes to the brand-building process of the company but also in achieving healthy conversion rates. As a result, optimizing websites using data analytics is becoming the most competitive task for business entities and their experts.
Metrics Used in Digital Marketing Analytics
You can measure your marketing performance by analyzing the data and metrics from all of your efforts.
Digital marketing analysis
Measuring your progress is important to all businesses. Analyzing metrics like sessions, acquisition overview, page views, bounce rates and traffic sources can advise you on where your campaign is going. By internalizing these metrics, perfectly weaved analytics can provide the required information.
Here are examples of metrics used.
|Customer Acquisition Cost (CAC)||When calculating the percentage of online CAC, you take the sales and marketing cost divided by the number of new customers within that period.|
|Time Taken to Earn Back CAC||It is important to know the time it takes to earn a client for the future marketing budget.|
|Marketing Influenced Customer Percentage||It calculates the efforts of a digital campaign in acquiring new customers. to get this you divide the total number of new customers by the total number of customers you interacted with within your campaign|
Digital Marketing KPI Board
Key performance indicators (KPIs) helps businesses analyze their performance to know their progress. It measures the most important metrics of your business.
In digital marketing, it gauges the efforts of your marketing campaign. You can derive your data from social media, PPC ad words, Google analytics and other digital marketing channels.
Examples of KPIs include; Social media, Email marketing, Paid search engine marketing (SEM), Website and blog content (content marketing), Search engine optimization (SEO), et cetera.
Digital Marketing Analytics Companies
Today 90% of businesses across the world use digital marketing tools and techniques to promote their brand on the online platform. Thus, the wide adoption of digital marketing tactics has put proficiently working digital marketing companies into a boom phase. As a result, there are millions of digital marketing analytics companies serving across all minutes to major parts of the city and provinces across the world. As a result, it becomes hard to pick the most proficient ones all the list there. Thus, one can always google for the companies in their preferred location and they will certainly find the one. All that matters is what these companies do and how.
The major aim of the digital marketing analytics company is to provide the following services to its client companies or personnel and promote their brand.
- Search Engine Optimization (SEO)
- Social Media Marketing (SSM)
- Content Creation, Optimization and Marketing
- Email Outreach
- Quality Link Building.
- Online Ads management
- Website and Application Designing
The performance of these major services provided to the client company is measured using digital marketing data analytics.
In a nutshell, Data Analytics is an integral part of optimizing marketing strategies and initiatives.
Data analytics alone does not guarantee the success of your business but it is an ace up your sleeve. It is an integral part of optimizing digital marketing strategies in your organization. Your success depends on how you catch up with the ever-changing trends in the business world.
Be proactive, be updated and make use of data analytics to stay ahead in the digital world.
Topics in Data Analytics
- Advanced Data Analytics
- Clinical Analytics
- Credit Risk Analytics
- Cyber Risk Analytics
- Data Analytics for Customer Behavior and Customer Experience
- Data Analytics for Customer Journey
- Data Analytics for Fraud Detection
- Data Analytics for Human Resources
- Data Analytics for Logistics and Supply Management
- Data Analytics for Risk Management
- Data Analytics for Talent Acquisition and Management
- Data Analytics in Asset Management
- Data Analytics in Digital Marketing
- Data Analytics in Healthcare – Use Cases, Metrics, Techniques, Companies and More
- Data Analytics in Manufacturing
- Data Analytics in Pharmaceutical Industry
- Descriptive Analytics – Definition, Types, Examples, and More
- Digital Analytics
- Financial Data Analytics
- Financial Risk Analytics
- HealthCare Claim Analytics
- Insurance Risk Analytics
- Insurance Risk Analytics
- Population Health Analytics
- Portfolio Risk Analytics
- Revenue Cycle Analytics
- Risk Assessment Analytics