Automated marketing analytics tools can put any company on the path to marketing success. Learning from the data collected by these tools, marketers can craft focused strategies that add value to their marketing plans.
The adoption of automated marketing platforms is increasing. Marketers are now using automated marketing analytics software and technologies at scale. Understanding the advantages of the software is important to make the right use of it.
What is Automated Marketing Analytics?
Gartner defines marketing analytics as:
“Marketing analytics include a suit of analytics gained from marketing platforms and tools. Marketing platforms and tools help marketers to analyze, collect, and visualize data to optimize marketing and advertising campaigns. Through analytics, they better understand prospects and customers, their behaviors and interests across different channels.”
In simple ways, marketers use analytics to get valuable insights to make smarter, data-based decisions. Automation in marketing helps companies stay ahead of the competitive curve.
This way, they can easily develop stronger and more agile marketing strategies.
Marketing analytics collects marketing data like:
- Conversion rates
- Lead generation
- Social media platform engagements
- Email marketing (email open and click-through rates)
- Page views
- Page bounce rates
With these analytics, marketers can understand their customers’ preferences better. This will define what kind of marketing is more effective and will be successful in the future.
What does Marketing Analytics Software Do?
Marketing analytics software includes analytics tools and processes that marketers can use to measure the performance of marketing plans. Thus, they can evaluate the efforts, manage them, control them, and rework them for better impact.
Marketing analytics software works with a company’s marketing technology stack to redefine marketing. It helps to enhance ways to maximize conversions and sales.
Why Should Businesses Have Marketing Analytics Software?
For every digitally transformed or transforming company, data is the king! So, collecting data is important for focused marketing. However, analyzing that data and identifying patterns is even more important. This is a significant way to develop precise marketing strategies.
That’s where marketing analytics software is invaluable for marketers. Automated marketing analytics platforms enable them to derive insights about the market. These allow them to make data-driven decisions for maximum benefit.
Also, when companies rebrand or redefine marketing strategies, marketing analytics software identifies future marketing trends, customer demand, interests, and pain points.
Marketers can use this software for automating marketing activities such as:
- Obtaining website performance reports: Marketers should use software to analyze website pages, view top traffic sources, and monitor website performance. The performance report gives insights about how many new, targeted, and anonymous visitors viewed what pages and how many times. It also reports about the duration of a page view by a visitor.
- Lead scoring: Lead scoring becomes easy to track using automated platforms. Scoring provides KPIs that give insights on leads coming through campaigns.
It helps marketers view which leads are valuable and useful for business. Scoring provides KPIs that give insights on leads coming through campaigns.
Scoring also helps marketers understand which marketing activities bring more leads and where they need to improve.
- Analyzing customer or lead behavior patterns: Automated marketing analytics software gives a 360-degree view of leads and actions taken on websites, marketing channels, and other assets.
5 Advantages of Automated Marketing Analytics
Automated marketing analytics has removed most of the previous guesswork in marketing. Data has strengthened businesses to make the right marketing decisions at scale.
So, here are the benefits of B2B marketing automation.
1. Marketing analytics Boost Customer personalization
Marketing analytics use accurate customer data. Marketers can deliver customer personalization through data insights to make their buying journey interesting.
Marketers can easily create tailored marketing messages to keep customers engaged. They can increase engagement through websites, campaigns, and email performances.
This can be advantageous for companies, helping them to race ahead of competitors
2. Optimization of Campaigns
Marketers should extract customer data information to optimize campaign performance. With marketing analytics, it becomes easy to optimize campaigns using data-driven strategies.
3. Identify Customer Acquisition Cost
Marketing analytics give campaign performance and view the campaigns with the lowest cost per acquisition (CPA).
With this data, marketers can compare CPA with the rest of the industry. This is important to identify because it will measure the value of the marketing investments.
So, if that doesn’t work, marketers can redefine their strategy to reach customer acquisition cost goals faster.
4. Understanding A/B Tests
Marketers can also understand how A/B tests work on websites and paid ads to view and compare clicks-through. Such evaluation will help them to improve marketing strategies each time.
5. Analyzing Engagement rates
The software analyzes engagement rates across websites, email, content, and social media marketing that drive customer engagement. This analysis allows marketers to understand the areas of strength and weakness in marketing.
This way, they can improve and include more creative ways to boost engagement rates planning future marketing strategies.
Also Read: Top 5 Marketing Attribution Tools for 2023
Marketing Analytics is Important for Marketing
Marketing automation has solved many complex tasks in digital marketing. However, to correctly leverage analytics, marketing leaders should build rock-solid strategies and actionable planning and deliver scale advantage.
They should also invest in skilled analytics experts. It’s because skilled experts will know the right use of tools and resources to get the best marketing ROI.
Most importantly, companies should invest in the right tools and technologies aligning with marketing goals.