The positive impact that marketing analytics has on businesses

Every time somebody visits a website, they become a potential customer to that business. 

Knowing what they looked at, what pages they visited, how long they stayed on the page and what they ended up buying (or not) is hugely valuable information.

The same goes for any marketing campaign, be it over email, web, an app or social media.

Companies that can tap into that information set themselves up to better reach those customers, to better serve their needs, and to better tailor their messaging to the right people.

Marketing analytics has seen the fastest growth within the retail sector, for obvious reasons, but can be used in just about any business to identify what potential customers are doing and what they are looking for.

The analytics can also help a company asses the overall effectiveness of its own website. Do their customers go where the website has been designed to lead them? Are they reading the sections that the company thinks are most important? How do they end their search? With a request for more information, or by heading to a competitor?

According to a recent article in FORTUNE:

“One fast-growing area of marketing software investment is analytics, as companies search for the missing link between specific campaigns and revenue growth. The February 2016 edition of a biennial survey of chief marketing officers predicts a 66% increase in spending for this category over the next three years.”

Alignment

Essentially, marketing analytics comes in three parts:

1. Capturing the data
2. Using the right analytical tools
3. Transferring that knowledge into the strategy of the business.

All three must be integrated in order to full take advantage of this technology.

For example, analysing the results of an email campaign to customers is critical in order to improve the performance of the next campaign.

Marketing analytics requires investment, but it’s a measurable investment: companies can track exactly where sales have generated. 

What skills are needed?

More and more companies are bringing this skillset in-house. They are looking for insight analysts, data planners, and campaign managers.

“Often the marketing analytics team will come from a marketing background,” explains Dwayne Wakil, Business Manager Progressive Recruitment.

“They’ll be extrovert, enjoy working part of a team, and will have picked up their technology skills along the way.”

“There’s definitely a shortage of people, especially within the permanent sector. A lot of the time, companies have to bring contractors in to work on project-specific roles.”

“It should be well-embedded in most companies now, but as our channels of communication with customers change and evolve, companies have to keep on top of that. They need to know whether it’s an email campaign, a Facebook or Twitter campaign that will reach their customers in the most effective way.”

“Without doubt, in today’s rush to capture and keep customers, those that use marketing analytics to its full advantage will maintain their competitive edge.”

Navigating offers and negotiating pay

02 Mar 2023

You’ve got an offer for a job you want – but what happens next? Our top tips explain how to handle the post-offer stages, including negotiating pay and counter offers...

The importance of employer brand management in a talent short market

22 Feb 2023

With the ongoing scarcity in STEM talent, employer branding is essential to successful recruitment and retention. We consider how to use your employer brand to communicate why you are a good employer and a great place to work, and how employer brand management should be at the heart of your business...

Retaining engineering contractors in a competitive market

09 Feb 2023

How can companies retain good talent in a competitive environment? We look at the most in-demand roles and share some tips for businesses to hold on to the best contactors once they find them.

Is nuclear energy green?

24 Mar 2022

Nuclear energy is sometimes left out of discussions about green energy, but it could be crucial in fulfilling the UK’s net zero commitment?