How to Better Integrate Analytics Into Your Marketing Strategy
We’re neck-deep in the age of ‘Big Data.’
No matter what aspect of marketing you want to measure, there’s a tool to help you track it. In fact, ‘powerful analytics’ is probably the most highly-touted feature for most of tools we use as online marketers. We have access to so much data, so many metrics that… we’re drowning in it.
Gone are the days of data for Big Data’s sake. Marketing analytics are only as valuable as the insights we pull from them and the strategy we build around those insights. Let’s talk about how you’re going to better integrate this wealth of metrics and data into your marketing strategy.
Key Marketing Analytics Terms to Understand
Before you can put marketing data into context and use it to drive decision-making and strategy, you need to know what you’re dealing with. It’s hard to make sense of changes in your conversion rate if you don’t actually understand what conversion rate measures. First, we’ll dig into the meaning of a few key marketing analytics. (If you have a good handle on these, feel free to skip to the next section.)
Oftentimes when we say “analytics,” we think of web analytics – the kind of data we find in Google Analytics and other platforms (like those we use for email marketing, for example). These are just a small part of the data that pertains to marketing activities, but they’re important nonetheless.
- Traffic: Simply put, traffic measures how many times a particular webpage is viewed. It’s a good indicator of how effectively your marketing efforts are driving people to your website.
- Engagement: Engagement can encompass several data points (including bounce rate, time on page, pages per session, etc.), but it’s generally a measure of how and how often people interact with your web content.
- Open Rate: Of the people who received your email, how many actually clicked and opened the email? This is a good measure of the effectiveness of your email subject lines, as well as your subscribers’s engagement with your brand.
- Click-through Rate (CTR): When you run a digital ad or include a call-to-action (CTA) on a webpage or email, CTR represents the percentage of those who clicked on your CTA versus all those who saw it.
At the end of the day, the core purpose of marketing is to drive leads – people within your target market who may be interested in what you have to offer. Knowing how many leads you’re getting enables you to understand the effectiveness of your marketing at actually growing sales opportunities.
Conversion rate is broadly defined as the percentage of users who take a desired action. More specifically in the world of online marketing, it measures the percentage of website visitors who buy something on your site. Conversion rate can help you optimize things like your web design, copy, CTAs, and other elements to make the most of the traffic you drive there.
Sales growth is the end-all be-all of marketing. Is your marketing strategy and activity driving more leads, qualifying more …read more
Source:: Kiss Metrics Blog