The Importance of Digital Marketing Analytics
When it comes to crunching numbers, not everyone can agree on which numbers are the most important to focus on. It’s always easy to overlook the smaller digits for the top-level web numbers, but digital marketing analytics isn’t something to scoff at. Measuring the effectiveness of digital marketing analytics is a challenge that every business faces, but here’s why you should take the time to do so.
Understanding what drives your website traffic is a big help in pushing your lead and sales potentials. That would be the domain of web analytics, right? Well, yes and no. Digital marketing analytics plays just as much of an influence in figuring out those statistics, too. How? You’re looking at data that dig into the specific reasons behind why your leads turn into customers. That means it’s quantifiable data that turn your business objectives into measurable outcomes – and that is most important in driving revenue.
Digital marketing analytics gets you powerful data to inform your marketing strategy and offer better ways to connect with your audience and customers. It’s about better understanding your campaign effectiveness in between marketing channels.
Cataloguing your ROI
Every business focuses on its ROI. That’s a given — it’s their revenue after all. Digital marketing analytics helps focus your ROI by attributing them to specific marketing efforts. Notice the trend here with specification — web analytics gives you the bigger picture. Marketing analytics pinpoints the exact campaigns that drive the numbers so you can focus your marketing efforts on the ones that yield the highest lead-to-customer ratio.
In short, digital marketing analytics cuts down the time and effort your business needs to spend on acquiring customers. Across your social media channels, for example, digital marketing analytics cuts through the myriad of posts and content to identify which posts get you the highest engagement. From there, all you need to do is boost those posts or produce similar ones to push your leads to convert to customers.
Effective analytics: marking each path of the journey
So how do web analytics and digital marketing analytics go together? Simple — it’s about making the journey together. With their powers combined, they put together customer-centric data within the buyer’s journey from both online and offline data. By doing this, you’re getting a better snapshot of how to improve your engagement efforts and lifetime value by giving your leads and users a nudge in the right direction.
Analytics is all about improving acquisition and retention, and identifying where the drop-offs occur is what digital marketing analytics does best. Finding the “leaks” in the pipeline, as it were, allows you to reach customers at critical points to deliver the right message at the right time. All it takes is a little push, and watch your KPIs improve.
Building a brand they can trust
Everyone wants a good experience for everything. When your digital marketing analytics is put to use the right way, you get an idea of which features you’re producing on your website deliver the best conversion, engagement, and retention. From there, you can start putting things to the test to better improve and adapt on things that worked and things that didn’t.
Analytics: Web and Digital Marketing Side-by-Side
The long and the short of it is this: it’s not about picking a side when it comes to analytics. It’s about understanding how web and marketing analytics go hand-in-hand to fill in the blanks of your buyer’s journey.