Google reported that leaders are 1.4 times more likely to use analytical metrics to make their business decisions. A digital marketing strategy is, therefore, key to these decisions. 

While your marketing tactics might be savvy, without measuring your success, it’s hard to know what’s working and what’s not. 

So how do marketing analytics and tracking help you measure this? What do they offer, and what are some brand examples?

That’s what we’re here to look at today. Read on to find out more about marketing analytics and tracking here. 

What is Marketing Analytics and Tracking

Marketing analytics is the process of using different metrics and key performance indicators (KPIs) to measure and evaluate your marketing strategies. 

This means looking at the results of your marketing efforts, how those results compare with your goals, and specific areas to optimize and improve your overall efforts. Marketers track and analyze these factors to enhance their return on investment.

Why You Need It

Simply put, understanding marketing analytics and tracking strategies help you optimize your marketing strategies. This leads to higher ROIs and more significant revenue. 

It also minimizes any wasted resources since you always know exactly where you’re spending your marketing dollars. It also provides greater insight into your customers’ preferences and needs. 

To really get into the details of why you need marketing analytics, let’s take a look at their benefits:

The Benefits of Using Marketing Analytics and Tracking Software

Like we mentioned earlier, marketing analytics and tracking provide a comprehensive view of your customers and what they’re into. Accessing and integrating customer preferences becomes a lot easier with analytics. 

Furthermore, you can personalize your customer engagements and perhaps predict their interactions. This provides a wealth of opportunities in terms of marketing tactics. 

If you want to improve your social media strategies, marketing analytics and tracking software are your best friends. It almost acts like a 24/7 focus group. 

How to Use It For Your Business

So now that you know the tenets of marketing analytics and tracking, how d you use them?

You can certainly use it to provide product intelligence. That is, you can find out how your brand products stack up against others in the market. 

You can also use it to gauge your customers’ preferences. What messaging or advertising resonates with them? What are they responding the most to?

Customer support also heavily benefits from marketing analytics and tracking. By identifying where your customers are struggling in their transactions, you can make amends for higher ROIs. 

Examples of Marketing Analytics and Tracking Software

One of the most prominent examples of marketing analytics and tracking software is Google Analytics. It provides basic yet essential website data such as the number of users, where they came from, how long they’re on the site, and so on. 

Google Ads can help you leverage some of those analytics into tangible advertisements on Google’s platforms. It helps you track your budget, start and end dates, as well as keywords that might be useful. 

If you’re advertising on Facebook, Facebook Ads Manager helps you do many of the functions of Google Ads but on social media. This means creating ad campaigns, managing multiple ads, and seeing their performance. 

Leverage Marketing Analytics and Tracking Software Today

These days, knowing how to engage with customers is crucial to an online business. Use this article to learn the basics of marketing analytics and tracking software and boost your business’s revenue today!

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