Article

Sarah John
Sarah John 8 June 2022
Categories Data & Analytics

Analyze Results to Gain Insights From Your Marketing Activities

You can't improve what you can't measure. If you do not measure the results of your marketing activities, then you are never going to improve anything. Analytics is a key part of your marketing strategy and is essential to your overall business strategy.

It's not enough to just run a marketing campaign. You need to go back and look at your results and analyze what you did right, and what you did wrong. You need to make sure that your campaign worked and that you are getting a good rate of return from your marketing efforts.

You need to measure the number of leads, conversion rates, and response rates to find the metrics that matter.

This blog explores how you can gain insights from your marketing activities and make changes to your marketing campaigns.

Marketing Analytics: Know why you Need it

In the world of marketing, there are plenty of content ideas and strategies that exist today. There are also many tactics and trends that will come and go. Yet one thing remains constant: Data-driven marketing is a must in any digital environment. When you're eager to drive revenue and revenue growth, you need to focus on leveraging data and you need to do so consistently.

Marketing analytics can help you answer questions like:

  • What markets should I focus on next?
  • Which channels are most effective at generating useful leads?
  • What kind of content is resonating with my audience?

Marketing analytics can tell you how customers found your website, how they engaged with it, and where they went within your site. It helps you determine which marketing efforts are effective and which are not. You can then use this information to make better strategic decisions that will produce better results for your company’s bottom line – and its growth.

The benefits of marketing analytics are:

  • Evaluate your marketing performance
  • Better understand your buyer’s journey
  • Optimize your current campaigns
  • Create more effective campaigns

Tools for Analyzing Your Marketing Results

Analytics are important in marketing because they can provide information on how well you’re performing. With this information, marketers can determine if their efforts need adjustments.

Below are some tools that can help you analyze your marketing results:

Google Analytics

Google Analytics is a great tool for measuring site traffic. It provides reports that show where your visitors come from and which pages on your site attract the most attention. It also tracks how many people converted into leads or customers through your website and what actions those people took before converting. This data helps you see which of your marketing efforts are working and which ones aren’t.

Ecommerce Tools and CRMs

If you sell products online or have a sales team, you probably use ecommerce tools or a CRM to track when customers buy products and how much they spend. These tools can also show you who’s purchasing your products so you can better understand who your customers are and what they like about your product.

Facebook Insights and Twitter Analytics

These free analytics tools given to page owners by the social media giants themselves provide valuable data on the demographics of people who follow your pages and engage with them, as well as overall engagement rates over time.

How to Conduct a Marketing Analysis

A marketing analysis is a process of developing information about your market and using that information to guide your company's marketing efforts. The purpose of the analysis is to gain an understanding of your marketplace using charts and graphs (bar chart, line chart, xy scatter chart, slope chart, donut chart etc.) so that you can make strategic decisions about how to position your product or service within it.

A marketing analysis gives you an up-close view of the market in which you operate by addressing questions such as:

  • Who are my customers?
  • How do they behave?
  • What do they need?
  • What do they value?

Understanding these questions will help you identify opportunities to better meet your target customers' needs and needs and set you apart from your competitors.

Here are the steps to take to conduct a marketing analysis:

Step 1: Research

Do your research to develop a SWOT analysis and the other components of your marketing plan.

Step 2: SWOT Analysis

SWOT stands for "Strengths, Weaknesses, Opportunities and Threats." By examining these four factors about your company, you can determine what makes you unique and what challenges you will face in the marketplace.

Step 3: Mission Statement

Develop a mission statement that defines your company's goals, values and approach to doing business.

Step 4: Goals

Set short-term and long-term goals for your enterprise. Then break them down into smaller milestones with deadlines.

Step 5: Market Trends

Research industry trends that could affect your business model. This could include new technology, demographic changes, or regulatory trends.

How to Make the Best use of Your Marketing Analysis Results

Accurate and insightful analysis is the backbone of marketing. It’s what drives your decisions and helps you identify the best use for your marketing budget to reach a target audience.

Here are some tips on how to make the best use of your marketing analysis results:

Be a Multi-Tasker:

You can’t do just one thing with your analysis results. Share them, compare them to other datasets, look for patterns, ask questions and see where it takes you.

Always be Prepared:

Make sure you’re prepared for a variety of outcomes because you can’t rely on one result or one piece of analysis. Always consider the worst-case scenario so that if it happens, you won’t be left scrambling with no backup plan.

Questions are Your Friend:

If data doesn’t answer all of your questions immediately, don’t be afraid to ask more questions. Just because you don’t immediately understand something doesn’t mean there aren’t answers.

Experiment and Test:

Data isn’t always an exact science, so sometimes it pays to experiment with different results or ways to analyze things.

Conclusion

Marketing analysis is a crucial process for any business that wants to survive and thrive in today's competitive marketplace. By understanding your customers, your competition and the trends affecting your industry, you can make strategic decisions that will position your company for success.

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
7 reasons why social media marketing is important for your business

7 reasons why social media marketing is important for your business

Social media is quickly becoming one of the most important aspects of digital marketing, which provides incredible benefits that help reach millions of customers worldwide. And if you are not applying this profitable...

Sharron Nelson
Sharron Nelson 6 February 2018
Read more
8 Digital Marketing Trends to Watch in 2023

8 Digital Marketing Trends to Watch in 2023

The internet has conditioned customers to demand instant gratification, and that’s only set to continue. In 2023, customers will expect a response time of just hours. No more sending an email and waiting days for a...

Azeem Adam
Azeem Adam 3 May 2022
Read more
Top 10 B2B Platforms to Help your Business Grow Worldwide

Top 10 B2B Platforms to Help your Business Grow Worldwide

Although the trend of a Business to Business portal is not new but the evolution of technology has indeed changed the way they function. Additional digital trading features and branding has taken the place of...

Salman Sharif
Salman Sharif 7 July 2017
Read more
How to Encourage Customers to Post Photos about Your Brand

How to Encourage Customers to Post Photos about Your Brand

Visuals impact buyer behavior – there’s no doubt about it. But not just any visuals will have the impact you planned on your eCommerce marketing strategy. If the only images your customers see in relation to...

Luisana Cartay
Luisana Cartay 8 June 2016
Read more
Why Being an Influencer Should Be Recognized as a Career Choice

Why Being an Influencer Should Be Recognized as a Career Choice

The evolution of technology has contributed to so many advancements in everything from, digital technology, medical discoveries, and our lifestyle as a whole. The evolution of technology brought about a multitude of...

Chiara Di Rago
Chiara Di Rago 3 October 2016
Read more