If you do online marketing without marketing analytics, you are wasting time and money. Cookies, web visits, activity on social networks... we marketers have a lot of information about users, but many brands still don't know how to take advantage of it. Without proper individual email list analytics, it's impossible to know what's going on with your campaigns so you can focus on what's working and stop wasting resources on what isn't. Therefore, we are going to see some keys to marketing analytics that will help you be a more efficient marketer.
Discover the most important digital marketing metrics . The 130 that you should not lose sight of! Click here and download the most complete ebook. Marketing analytics the correct way to interpret your data and metrics What is marketing analytics? Marketing analytics or marketing analysis is the practice of measuring, managing and analyzing the marketing results of your business in order to optimize them. To do this, it uses information collected through different channels to create a unified vision. From this view, the marketer can obtain information with which to draw conclusions that guide their next actions and make them more effective. Marketing analytics covers a multitude of metrics , among which key performance indicators or KPIs play a special role. Some examples of them are: The return on investment or ROI : a percentage that expresses the profitability of a specific marketing campaign based on its ability to obtain conversions.
Average Lifetime Value or LTV – The revenue that a given customer brings to the company for the entire time that they are buying your products or services. The cost per acquisition or CPA : the cost of converting a new user into a customer of the company. Why do marketing analytics? Because it converts data into information . Today, most companies have access to customer data in one way or another. But in order to take advantage of them, it is necessary to analyze them, process them and turn them into useful conclusions for your business. Because it helps you compare stocks and channels . Marketing analytics allows you to compare different data sets with each other and answer questions such as whether it is more profitable to advertise on Google or on social networks or which are the demographic groups that convert the most. This way, you can focus your budget on what works best. Because it allows you to back up your claims . When it comes to budgeting for a new SEM campaign , it's much more convincing to say that the last Google Ads campaign had a 250% ROI than to simply claim that paid advertising brings in more customers. Furthermore, with the proper analysis, you will not only be able to explain what happened, but also why. Because it helps you achieve your marketing goals . All online marketing actions should be aimed at a global objective, for example, increasing lead generation or sales. Marketing analytics makes it possible to know how we are progressing on this path and correct course whenever necessary.