You've Got Marketing Data, Now What?

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You’ve Got Marketing Data.

Now What?

Key Components of Marketing Analytics

Understanding marketing analytics is key to improving and evolving your marketing strategies.

By Abbey Alexander

Understanding marketing analytics is key to improving and evolving your marketing strategies. You should never be reliant on a single tool or strategy.

Tying together the data you collect across all avenues and using that data to draw insights is where the magic happens, and when you can start benefiting from your marketing analytics.

Data Collection and Integration

Data is your friend. It flows in from your website, CRM, social media, ad platforms, and more. To harness this power, you need to gather and integrate your data effectively. The data that flows in from these avenues will give you insights into your customer base, how your campaigns perform, and market trends.

There are 2 main ways to capture your marketing data:

Manual Data Collection: You might manually export data from various platforms. This gives you the opportunity to validate and clean it up if you come across errors, duplicates or otherwise.
Automated Data Tools: Customer Relationship Management (CRM) email marketing metrics or social media analytics are tools that pull data from all your social channels into one dashboard.

Data and insights aren’t the same. Data is just numbers, but insights are the meaningful conclusions you extract from it to make strategic decisions.

Data Analysis

Once you’ve gathered your data, you can start transforming raw numbers into actionable insights and use them to guide decision-making.

Marketing analytics typically unfolds in stages as a company matures and refines its marketing strategies over time.

Descriptive Analysis: Start with the basics. Look at your historical data to spot patterns. Questions like “What was our top-performing campaign last quarter?” come up here.
Diagnostic Analysis: This is where you dig deeper to understand why things happened. Did a campaign flop because of poor timing or the wrong message?
Predictive Analysis: You can use statistical techniques or machine learning algorithms to forecast future trends. It can help answer questions like, “What type of content will engage my audience next month?”. You need data consolidation to achieve this stage of analysis.
Prescriptive Analysis: Finally, use advanced tools like AI to suggest actions like, “How should I allocate my budget to maximize ROI?”.

Each stage of analysis helps you become more data-driven, turning numbers into strategies that boost your marketing efforts.

Reporting and Visualization

You’ve done the work, now show it off. Reporting and visualization are all about presenting your data in a clear, compelling way.

Better Decision-Making: Good reports offer actionable insights that guide your strategy.

Transparency: Clear reports show the impact of your marketing efforts.

Consistent Tracking: Regular reports help you track performance and spot trends.

Visualization: Seeing your data in diagrams and graphs can help make trends and points for investigation much clearer.

From simple charts in Excel to advanced dashboards like DataBox, choose tools that best fit your needs. The goal? Make sure your team can understand and act on your data insights.

Looking for help with setting up, understanding and interpreting your marketing data? We can help with that.

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