Turn Data Into Better Strategies With Digital Marketing Analytics
What Is Data Analytics In Digital Marketing?
Digital marketing refers to the use of digital channels and assets to promote products and services. Connecting with your audience and potential customers online where they spend the most time is the primary goal of digital marketing.
Marketers use analytics tools to analyze and report on the marketing data collected across digital platforms where you are investing in advertising. Examples of these social media platforms include Linkedin, Facebook, Instagram, Twitter, TikTok, and Snapchat but can also include search ads, affiliate sites, emails, and more.
4 Digital Marketing Analytics Building Blocks With Examples
Competitive Landscape Analytics.
A competitive landscape analysis allows you to see what competitors are offering and how they are reaching and engaging with the target market.
Example: Retailers might conduct a competitive landscape analysis by sorting all of their products. After categorizing them, they would identify competitors in each category and research each company for price, target market, social media content, digital content, and how they connect with their customers.
Customer Behavior Analytics.
Customer behavior analytics is used to better understand how customers are interacting with your digital and non-digital channels, also allows you to see where they are being influenced the most.
Example: Companies conduct customer behavior analytics by breaking down their customers into groups and looking at how each group interacts with the website and products they purchase. Using web analytics can give you a deeper understanding of your customers such as demographics, professional backgrounds, age, and so on. With this data, companies can create powerful strategies to further retain and acquire customers.
Marketing Performance Analytics.
Marketing performance analytics allows marketers to gather data and draw comparisons between all channels and digital communications. Having the data displayed in a comprehensive marketing view enables marketing efforts to evolve and drive better results.
Example: Companies collect data from all marketing channels to measure how successful their brand and messaging efforts are. By comparing the data between each channel they can identify areas that need improvements and allocate resources to them to increase ROI.
In digital marketing, predictive analytics refers to the use of historical and current data with statistical techniques such as machine learning, predictive modeling, and data mining to measure possible results of future events.
Example: Lead scoring can be used in predictive analytics and is the process of using historical customer data to rank prospects according to their likelihood to convert. Depending on your business model, this data can be used to trigger relevant marketing messages when a prospect reaches a certain threshold in your lead scoring model.
Yesware Cuts Customer Acquisition Costs In Half With Sigma
Simply put, the more data you can track — the better you can understand your customers and how they interact with your brand. Having this information provides powerful insights and helps your business grow.
Digital marketing analytics can help you build credibility, save time and resources, and increase revenue. Data is powerful and can be used to give you an advantage over your competitors. In this case study, we see how Sigma helps companies cut costs through marketing analytics.
Yesware, a popular sales productivity platform, had four years of marketing pageview and product trial data they wanted to merge to better understand their customer journey and attribute ROI across marketing efforts. But isolated data sources combined with complicated BI tools made it nearly impossible for the team to surface impactful data insights into why marketing campaigns weren’t producing the desired results.
Yesware needed a way to harness the power of data insights to optimize their funnel and align the efforts of their sales, marketing, and product teams. Cloud analytics was their answer.
Sigma’s Workbook enabled the team to leverage their spreadsheet skills to merge data from Customer.io, Google Analytics, Salesforce, Zendesk, Google, and Facebook ads for a complete view of user behavior at each stage of the funnel — without writing a single line of code. They can now analyze every touchpoint, past and present, and see the results of every interaction.
Because they had a complete view of the customer journey from the first touch to purchase and even through customer lifecycle marketing, the team cut customer acquisition costs in half and dramatically dropped their overall spend.
Use Sigma For Digital Marketing Analytics
Sigma’s marketing analytics solution empowers every marketer to easily access and analyze data across channels and campaigns in real-time to ensure spending and resources drive maximum sales pipeline and ROI.