Marketing Analytics: Understanding Your Data to Drive Results
July 20, 2023
Have you ever scrolled through your social media feed and found an ad that targeted you so specifically it almost felt creepy? Maybe you recently Googled “best products for silky hair” or “workout routines to lose weight.” Suddenly, you begin seeing an influx of advertisements on Facebook, Instagram, Snapchat, and TikTok that are directly in line with what you were just Googling. How do companies know what you’re searching for? How do they understand the exact products that make you compelled to purchase?
What is Marketing Analytics?
Marketing analytics refers to the process of tracking and analyzing data to evaluate the effectiveness of marketing campaigns. This may include analyzing the age of a company’s target demographic by capturing a website visitor’s age and location, which is typically pulled when a customer signs up for a company’s email list and provides their birthday and zip code.
As an example, if a hair care company seeks to target females in their mid 30’s who live in Los Angeles, they should consistently analyze their campaigns to assess which advertisements attract the highest purchases and click-throughs from females in their mid-30’s in an LA zip code.
3 Reasons to Use Marketing Analytics
Increases Brand Engagement
Companies see higher engagement when they deliver targeted messaging that resonates with consumers on a personal level. If a company digs into the analytics and notices an increase in searches for “best products for thin hair,” they can then target those customers with a product specifically designed for thin hair. On the flip side, companies that deliver generic ads that don’t align with what the user is looking for tend to annoy and will most likely lead to limited customer interaction with the brand.
Reduces Ad Spend
Companies that don’t assess and optimize marketing analytics are most likely spending more money than they should on the wrong campaigns. As an example, let’s say a company dedicates $40,000 to an ad campaign promoting its latest haircare products. If the campaign doesn’t generate enough click-throughs or purchases to make up for the amount being spent on the campaign, this can quickly be caught and corrected by analyzing the marketing data.
Companies that track their marketing analytics on a daily or even weekly basis can assess which campaigns are delivering stronger results, and then direct ad dollars to those campaigns vs. those that are underperforming. Companies that don’t analyze their marketing data regularly are most likely throwing money into campaigns that are costing them more than they’re making.
Gauges Effectiveness of Campaigns
By tracking conversion rates, click-throughs, and engagement, you can quickly assess which campaigns are generating the most leads and sales, and which ones are falling short.
Marketing analytics isn't just about tracking data, it's about turning that data into actionable insights. TapClicks’ marketing platform includes AI-powered analytics and predictive modeling so you can identify trends and patterns in your data. This allows you to personalize your marketing efforts and create a more engaging experience for your customers. Get started with a 14-day free trial today.