PhD Graduate and result-oriented Director with 25 years experience with involvement in all levels of Business Strategy, Sales and Marketing, Managing Project and Product Development. Aside of managing a company, he is also the best corporate trainer and public speaker in seminar and conference.
In today's digital era, it is essential for businesses to determine the effectiveness and return on investment (ROI) of their marketing campaigns. With marketing analytics, businesses can measure the effectiveness of various marketing channels and gain the accurate insights on the ROI of their marketing efforts. Further, these are the benefits of marketing analytics that could improve overall marketing performance, namely.
Learn What Happened
Marketing analytics can first lend insight into what happened in the past and why. This is instrumental to marketing teams in order to avoid making the same mistakes. Through descriptive analysis and the use of customer relationship management and marketing automation platforms, marketing analytics bring to light not only what happened in the past but also provide answers to questions on specific topics.
Analyze Current Marketing Campaigns
One of the significant benefits of marketing analytics is that marketers can measure and analyze the effectiveness of their current marketing campaigns leveraging marketing analytics solutions. Consequently, this helps in making changes to marketing strategies to avoid mistakes or make improvements. Using marketing analytics dashboards to display current engagement levels or the status of new leads, companies can assess the real-time status of their marketing efforts.
Predict The Consumer Behavior
Predictive analysis is one of the most remarkable benefits of marketing analytics. With the help of predictive modeling techniques such as clustering, regression analysis, propensity models, and collaborative filtering, companies can anticipate consumer behavior. Also, predictive models can be used to target at-risk customers through tailored messages and loyalty programs. Marketers can then utilize this information to execute specific marketing analytics techniques to retain customers.
Personalize Your Marketing And Customer Engagements
Marketing analytics enable organizations to explore how customers in defined segments behave differently and even predict customers’ to respond to different offers. Doing that enables them to tailor the timing, content, and delivery channel of offers to fit the preferences of customers.