Four ways marketing analytics tools drive business growth

But with marketing budgets still being limited to a certain degree, what should be prioritised?
With a plethora of marketing analytics tools already available, what’s a business to do? Making carefully planned investments in systems and software is key.
What’s more, the benefit really is for the entire business, not just the marketing team. Insights from marketing analytics tools can be applied across all departments – including customer service, product development, and more – making the investment even more worthwhile.
Our software has helped thousands of marketers, in companies big and small, across an ever growing range of sectors, increase their leads, cut wasted spend, and increase their ROI by unlocking hidden customer data.

Bringing marketing analytics tools to the masses

Gaps in your keyword strategy can make or break your paid search campaigns. By tracking conversions that come from PPC or display, you can spot any new keywords that you can use to create and optimise future campaigns.
So, with that in mind, here are four reasons why marketers should be investing in marketing analytics right now.
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1. Analytics puts your business on the front foot with competitors

The vast majority of marketing teams deal with both offline and online multichannel, multi-touchpoint campaigns, so gathering insights to understand how to most effectively engage with customers is crucial.  If you aren’t currently tracking and reporting on offline conversions – through your phone calls, for example – it may be as simple as bringing in call tracking software.
The value of data analysis – particularly for the benefit of marketing – is also widely understood. As a result, marketing analytics will continue to grow in importance over the coming years.

2. Analytics helps you identify new trends and opportunities

We love to partner with our clients, understanding the challenges they face to ensure that we continually develop features that fit the needs of every marketer.
For many organisations, this could be the ability to spot common points in the customer lifecycle where brand loyalty starts to falter. To stop customers jumping ship to other brands, your analytics tools can pick up each interaction and help you identify when it’s time to focus marketing attention on those customers and give them a reason to stay.

3. Analytics proves ROI

Of course, that’s easily said. And not so easily done. Especially when you have to make the business case for your firm, as well as prove the value of the investment.
In a bidding war, the only winner is Google Ads! It’s an easy trap to fall into. With the right data though, you can look at alternative ways to gain a significant competitive advantage without blowing your budget on keywords.

4. Analytics helps you better understand customers

Clearly, marketing analytics brings huge benefits for businesses – whether you’re a marketing agency, an automotive business, care home, or anything in between.

Marketing analytics benefits all

The impact of managing your marketing spend effectively can be game changing. It’s key not only to surviving an economic downturn, but also driving growth.
Luckily, with marketing analytics tools, you can pinpoint the exact campaign characteristics that work best for you, as well as the ones that don’t work so well. You can see the channels, keywords and audience targeting that are most effective. And with advanced marketing attribution tools, you can prove the return on investment to your bosses too.