Measuring your business's marketing performance is an empowering process. With key data points in hand, you can better assess your business's future outlook, work out any kinks in the process of selling, identify inefficiencies, improve customer experience, and boost ROI. Best of all, these effects are visible throughout the entire business, not just in a single department or team. For instance, your marketing benefits from having a deeper understanding of the target audience. They also come to understand how their previous work performed with the consumer and can then plan for which direction they want to go in the future. And finally, with such a fully expanded impression of the consumer, they can then create a better customer experience, which translates into higher ROI.
This information is crucial to your business’s marketing and sales strategies. When you leverage the right analytics, you will have a better understanding of your customer needs and the product team can create products and services to meet those needs. Marketing can then produce relevant content with pinpoint, accurate messaging timed to reach your intended audience when they're most likely to engage with your content. The business then becomes more productive because of fewer inefficiencies while targeting the right audience, and leads become buyers sooner.
This might all sound pretty complicated. If so, don't worry. We're going to break it down step by step, so you leave with a fuller knowledge of how marketing analytics can improve your customer experience and overall ROI. Let's dive in.
Marking Analytics and ROI
Marketing analytics covers a lot of ground—from performance outcomes and efficiency to overall web traffic and the average duration of a user’s session. Like the covers and binding of a book, analytics takes these loose bits of data and tie them all together to create clear and digestible meaning. From the data, you can then identify trends and patterns that indicate how you can boost overall performance.
As you collect more and more data, you can then begin shifting money to create more effective marketing strategies. For instance, by following which pages receive the most engagement, you can craft content related to or imitating that niche. Content that doesn't receive the same engagement level is likely outdated or misses the mark with your target audience.
Going forward, you can then spend less money on marketing that doesn't contribute a substantial ROI. This also helps bring in new customers and tailors your marketing content to match the customer’s interests and needs. Analytics eliminates the guessing game of trying to figure out what works by actively measuring results in a way that allows you to make changes as needed.
The changes you do make are based on data rather than assumptions. While it's impossible to know the outcomes exactly, you can make better estimates by following the patterns previously established through market analytics. As long as you follow trends upward, your marketing should result in higher sales, meaning a better return on investment.
Marketers today need to do more than just collect and analyze data. They need to be clear as to how the availability of this data will impact their marketing strategies and initiatives.
Linda Popky, Founder and President, Leverage2Market Associates
Marketing Analytics and Customer Experience
Going beyond a higher rate of return, the information gained through market analytics allows you to improve your customers' overall experience. For businesses to be successful, you can't rely on one-time buyers. Instead, aim to build a base of loyal customers who return time and time again because they love your products, content, and brand. For this to happen, you need to know your audience.
Using market analytics, you can identify the type of person engaging with your brand. By tracking users' ages, locations, genders, and even interests, and then compiling that information and looking for trends, you begin to have an overview of your average consumer. That data, matched with the content they most enjoy interacting with, gives you a format for what your consumers are looking for.
Customer experience is a large part of what holds leads' attention. It will turn their interests into conversions and keeps them coming back for more. Sticking to the data and producing quality content, services, and products will benefit your ROI, but materials that align with your audience's interests will also them. Their impression of your brand will improve, and you'll begin to grow a following of like minded individuals.
You'll be able to watch in real-time as consumers interact with your content and assess new marketing campaigns' success based on several factors. You can measure how much time the average user spends on your blog, social media account, or website to determine whether they find the new material engaging. Track the number of users who visit your content and follow any upward or downward trends that correlate to shifts in your strategy.
Over time, you'll have a clear idea of what will and won't be successful. Understand, though, that you're selling to your customers' experiences. The more they enjoy the experience of engaging with your content, the more likely they are to change from a lead to a subscriber, buyer, or fan. Your customers’ enjoyment is the mark of a successful business model.
Getting Started with Market Analytics
Implementing and using market analytics to improve customer experience and ROI is clearly a benefit to your business. It’s not exactly the easiest thing to work out on your own, though. Instead of fighting with web design to build a platform based around market analytics, why not let the professionals do the work for you? Your business needs a team of experts who know how to uncover and hold onto new customers.
At Enidan Marketing, we work across programs and systems to you provide with reliable insights, and will work with you no matter the scale of your business. With over a decade of experience, we’ll help you generate leads, automate your marketing strategies, and provide you with the analytics you need to grow and improve your business.
For more information on how we can help, don’t hesitate to give us a call or send us an email.
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