Data Analytics
[noun]
What is marketing data analytics?
The term ‘data analytics’ is part of our marketing data analytics consulting service and it is generally used to define the process of using an algorithmic or mechanical process to derive insights that can then be leveraged from a business-like perspective; it represents one of the first steps within our Performance Management service, as it allows us to ensure our end-to-end services meet and exceed usual CAGR expectations.
Oftentimes, marketing data analytics is done through specialized computer systems or web analytics tools that allow data analysts to look at historical statistics over time and to consequently extract meaning from such raw data, in order to mine and interpret the information they contain. Data analytics consulting is a quite common practice across different types of business fields, as it can usefully inform decision making and allow for both a better understanding and a readjustment/retooling on the efficacy of adopted models and/or approaches.
Types of marketing analytics
As a digital marketing tool, data analytics gathers both qualitative and quantitative types of observations, which are then employed by digital marketers to support and improve their productivity and revenues. In essence all behavior of your customer is a data point, and when you overlay data points like your website or store’s traffic, with what’s selling, demographics about who’s buying it, and what it costs you as a business to acquire that purchase, this is in essence the 360 view of an customer purchase cycle.
- Website analytics: track users’ site visits and browsing data to extract, organize, and highlight user behaviors, clicks, and page views.
- Product Data: track conversions to identify product with the most and least conversions, or items that have been left in the cart.
- Customer Data: understand you customer demographic and purchasing patterns to understand what is leading their engagement.
- Marketing data analytics: identifying your CPC (cost per click), CPA (cost per acquisition, the ROAS (return on ad spend), impression share and distribution penetration across various funnel points of users who are engaging with your brand at different entry points creates a full-funnel approach to acquisition and retargeting your existing customers.
All of these can clearly become quite useful assets from a strategic stand-point – for both B2B and B2C types of entities. These data points help businesses to align product and PPC Strategies with customer behaviors and interests. which can clearly become quite useful assets from a strategic stand-point – for both B2B and B2C types of entities.
Importance of marketing data analytics
It’s important for businesses to utilize the many benefits of data analytics. At netamorphosis we utilize a variety of analytical tools ranging from Google Analytics to more robust eCommerce 3rd Party solutions such as Adobe’s Omniture. Through detailed analysis of online metrics, both current performance and future target objectives; offline influence including store productivity, call center performance targets, and supplemental revenue streams, we carve a way forward bolstered by tangible measurements and progress indicators that allows our team to adaptively respond along the way. Often, analytics is not tied to channel P&L performance, leading to incomplete (and rather shallow) ROI indicators. Our data analytics consulting takes into account all expenses, not just marketing spend, that supports online and offline channels.
Marketing data analytics consulting
In our experience marketing data analytics is not just about analyzing data that has been captured through a certified web analytics service provider for planning purposes. In fact, we also often devise custom reporting capabilities for older, less nimble or sophisticated database architecture: a key aspect within part of our Technology service offering is our capacity to ensure legacy system integration.
Moreover, all key phases within neta’s end-to-end suite of services are constantly fueled by data, from strategy outlining and planning, to design and implementation. In our terms, this is why marketing data analytics ultimately serve as a directional guide, revealing insights directly related to our client’s customer behavior(s), that leads to strategies as to how we can collectively facilitate deeper customer engagement.
