Use These Marketing Analytics Techniques to Level Up Your Team

If data is the new oil, then marketing analytics is the used to bring it to the surface.

While spend in marketing analytics continues to rise, many digital marketers struggle to use marketing analytics correctly. Despite reports of expected growth to exceed 10% of a marketer’s budget in the next few years, 40% of marketers claim to not have the tools or resources to accurately measure their marketing efforts. Without the ability to accurately measure performance of campaigns, a marketer is more likely to make bad calls that hamper performance.

The use of marketing analytics can help solve this problem by giving marketers processes and resources to measure, manage, and analyze their marketing performance. As a result, marketers can make improvements to their strategies and achieve better results.

If you’re struggling to measure and improve the performance of your marketing campaigns, consider these ways that marketing analytics can help:

1. Consolidated Reporting

To gain a stronger understanding of your marketing performance, you should consolidate all your reports into a single, easy-to-use dashboard. Not only will this help you see the full picture with minimal effort, you’ll also be better equipped to make data-driven decisions.

This is important because there are so many metrics to track and unique KPIs for every digital channel. Having a way to connect them all together will help you determine what story the data tells. With this knowledge, you’ll be able to glean new insights and optimize your campaigns.

Expert tip: As you consolidate your reporting into a single dashboard, make sure to include these performance and conversion metrics:

While there are a myriad of other marketing metrics to include in your dashboard, these are a great starting point.

Check this out: Wondering what other metrics you need to know?

2. Strategic Planning

You might think that planning comes before analysis, but marketing analytics should always inform your planning. Before you sit down with your team to discuss your next strategy, take time to review your marketing analytics. Through this exercise, you’ll uncover new insights that will help you prepare a smarter plan and more effective strategy.

Here are some of the ways that marketing analytics can improve your strategy planning:

When you put these tips into practice, you’ll come up with better ideas, make data-driven decisions, and see better results.

3. Experimentation

Using marketing analytics, you can transform testing into a science. Marketing analytics helps you eliminate the guesswork by giving you access to more data which you can use to uncover new insights. With this knowledge, you can make informed decisions about new tests to pursue. The more you test, the more opportunity you can dig up.

We encourage our teams at Booyah to think like mad scientists because consistent experimentation always leads to better results.

To get into this type of winning mindset, consider some of ways you can use marketing analytics to test more frequently:

Using data effectively, you can gain access to a treasure trove of insights. You just need to know how to find it. Marketing analytics is the treasure map that guides marketers to fortune. Keep this in mind and create a framework for smarter data-driven marketing. Set up processes that facilitate knowledge sharing across teams. Find the tools that make marketing analytics accessible to every member of your team. If you aren’t doing this already, you’re falling behind.

With this guide in-hand, you can begin to drill down into your data more effectively.  You just might strike oil — or something better.

And if you need help along your way, you can get in touch with our expert team.