How the Right Marketing Analytics Tool Can Help Track and Optimize Marketing Spend
Director of Content Marketing, Sigma
The keys to optimizing your marketing’s performance and generating a higher ROI can be found in your data. But mining your data for insights can be like looking for a needle in a haystack if you don’t have the right tools. You have large amounts of data in multiple formats coming in from a collection of different sources, and you need to track prospect and customer activity across channels. Trying to wrangle this data in spreadsheets is a nightmare.
In this post, we’ll explore how you can use a BI and marketing analytics tool like Sigma to centralize your data in one location, measure performance across multiple channels, and use that insight to boost conversions while optimizing spend — all while proving your team’s impact on revenue.
Track and measure performance
Many marketers track metrics through dashboards in their martech stack (HubSpot, Marketo, Salesforce, Google ads, Google analytics, etc.). They then extract that into a central spreadsheet to glue it all together and run analytics.
You don’t need us to tell you that this process is inefficient and time-consuming. You have to repeat this process every week, month, and quarter. And because it takes so long to complete, as soon as you extract all your data, it becomes outdated. You might be missing critical information that would lead you to a different solution if you had it.
With modern data analytics tools for marketing, you no longer have to extract and piece together data in spreadsheets. Once the data coming from your various software is in your cloud data warehouse (CDW), Sigma makes it possible to easily access and work with it. (If your data isn’t going into your CDW, ask your BI team to connect it.)
Learn other problems spreadsheets present in
You can then combine data sources to build worksheets, dashboards, and reports. And because Sigma connects to your CDW directly, it automatically updates as data changes from the original sources — so you’re never relying on out-of-date data.
Unlike spreadsheets, joining data sources in Sigma is simple and nearly instantaneous. But like spreadsheets, you don’t need a SQL expert to help you. Sigma has a spreadsheet-like interface that allows you to work in a familiar workflow while converting your actions to SQL in the background.
You can easily build dynamic dashboards that allow you to add filters and parameters to analyze trends and uncover the causes behind events. And you can go into the underlying data yourself, without having to ask the BI team for help. Additionally, you can share these dashboards with your team so everyone can benefit from them.
Understand ROI across channels
With a single view across systems and sources, you can get a clear and accurate picture of marketing campaign performance across each channel. This includes third-party vendors, social platforms, organic search, and paid ads, all the way from first marketing touch to an SQL or opportunity.
Within seconds, you can see how much money you spent on each campaign, which channels were most successful, how many clicks you received, how many meetings you booked, how many SQLs the campaign generated, how many conversions occurred, and how much revenue you ultimately drove. And you can do this for multiple campaigns across dozens of channels. Because you can identify exactly which channel made the most difference in each campaign, you can tailor spend and better allocate budget.
Double down on high-performance channels and strategies
With insight into which channels are performing best (and which are delivering poor results), you can reduce or eliminate channels that are underperforming and double down on the high-performers.
With the right marketing analytics tool, you can also go beyond simple A/B tests to determine the impact of new messaging tactics or ad strategies across channels. This holistic view allows you to make decisions that will increase the ROI of your marketing efforts and justify your spend.
And because the right marketing analytics tool will enable you to consolidate and run your analyses quickly, you’ll have more time to dedicate to strategic work like identifying new channels and tactics. Over time, you can boost performance even further, generate higher-quality leads, and expand your reach with minimal risk.
A marketing analytics tool can boost your career
Because robust and accurate marketing analytics can help you make better decisions that lead to a defendable business impact, your career will benefit from a tool that allows you to do your own analyses and share dashboards with your team. A data analytics tool for marketing enables you to showcase your results and demonstrate your value.
To learn more about using modern marketing analytics platforms like Sigma to improve your marketing performance, check out