top of page

Marketing Analytics: What It Is and Why It Matters

Updated: May 31, 2023

Understand why implementing Marketing Analytics in your company's business and learn why this is an excellent investment.

In general, marketing is often seen as a creative branch within companies. Through it, campaigns are created that increase the visibility of brands on the streets and draw the public's attention. However, there is an area of marketing that does not always appear so much, but plays a key role in strategies: Marketing Analytics.


This more analytical area of marketing allows you to create more efficient and accurate strategies driven by data (Data Driven). All decisions, creativity and campaigns must be based on performance analysis for the company to stay on track.


Whether for the elaboration of a new campaign, or to develop the entire marketing plan, with the help of Marketing Analytics, the company can make use of data to achieve better results and stand out in the market.



What is Marketing Analytics?


Marketing Analytics is an area of ​​marketing that works by collecting and analyzing data to identify patterns, make the best decisions and evaluate strategies within the company. It is the area that delves into the data to understand the results achieved, if the company is in the right direction and which are the best trends present in the market.


Marketing Analytics is closely connected to the Big Data phenomenon, which explains the data explosion in the digital world. Currently, companies have infinite data available about the market they operate, their consumers and competitors and their performance. After all, practically everything can be monitored, tracked and stored these days.


In addition to the relationship with the so-called Big Data, talking about Marketing Analytics also refers us to technologies such as BI – Business Intelligence (Business Intelligence) and Data Analytics (data analysis), both of which are synonymous with converting data into intelligence to take better decisions in the management of any sector or organization.


It is still necessary to mention that Marketing Analytics encompasses web analytics and digital analytics. However, it does not have the same function as all concepts use data analysis to improve the performance of a business and be ready for the future.

Also read: Digital Sales: How not to fall behind in Digital Transformation


Why is it so important for companies?


Over the years and the emergence of new areas of marketing, companies sought to invest in technologies to handle so many novelties and keep up to date in the market. However, the data generated by these technologies is not always enough to achieve the best results for the business.


That's why Marketing Analytics is very important. With it, it is possible to use the data collected to create new strategies and analyzes that help the company's performance. All efforts made by technologies become useful for making important decisions within the organization.


7 reasons to work with Marketing Analytics


In an increasingly competitive and complex world, Marketing Analytics is a great differentiator. The purchase stages have become more chaotic, customers are more demanding, competitors are more attentive and resources are scarcer.


In this context, any business that knows how to use data to understand this complex scenario will know how to take advantage of the best opportunities.


Below are some benefits of Marketing Analytics that can help your company stay ahead of competitors:


1. Customer knowledge

The tracking, collection and disposition of information form a network that makes it possible to find common patterns and habits among consumers. This not only helps to identify the audience, but also to understand more about accuracies and searches. Therefore, customer knowledge has to come first in the advantages of Marketing Analytics.


2. Accuracy in monitoring strategies

Second, it's always good to remember that marketing is focused on people (or personas). Therefore, good monitoring is necessary, perhaps a daily analysis, to verify if the strategies are targeting the right people and aligned with the business objectives.


3. Increased expectation of trends

Marketing Analytics also serves to insert the variable “market opinion” in organizational analyses. This is a way of understanding the future expectations of the company's operating segment. That is, it is possible to understand what is to come based on data. A more technical field for this process lies in the so-called Machine Learning (or machine learning) technology that allows you to develop predictive or trending analysis in the future based on past behaviors.


4. Monitoring competitors

This branch of marketing doesn't just look inside the company. By gathering information and data about your competitors, you can see what they are doing, the strategies that are working for them, and how to properly prepare to face them.


5. Quantify the ROI of marketing strategies

One of the main measurements that can be made is in relation to the Return on Investments (ROI) in campaigns, especially those in the digital world. In this way, it is possible to evaluate the real impact and results of the company's campaigns and strategies and focus on optimizing the financial and commercial return.


6. Keeps the focus on the company's goals

When evaluating the performance of strategies, the intention is to certify that they are on the right track of the objectives proposed by the company. Thus, using Marketing Analytics is a way to keep the team always aligned with the goals and objectives of the business.


7. Understand consumer behavior

Marketing Analytics also helps to get to know the consumer better. It is possible to collect information about the profile of customers in different channels, about how people behave and how they react to your strategies and campaigns. In this way, a more realistic persona is created and it is possible to devise the best strategies for it.


Also read: Le biscuit hires Falqon implements analytics and accelerates digital transformation


What are the main tools of Marketing Analytics?

The use of tools is not mandatory, but they help to optimize Marketing Analytics. Therefore, it is essential to know what are the main tools that can help you.


Google Analytics is the most popular platform today for being very robust, even in the free version. But, in addition to this tool, there are others that also help in the performance analysis of strategies. Check out some below:

  • Web Analytics: Google Analytics, Facebook Analytics and Adobe Analytics

  • Behavior analysis: Hotjar

  • Testing and Optimization: Google Optimize

  • SEO: Google Search Console

  • Social Media: Facebook Insights and Social Bakers

  • Email Marketing: GetResponse

  • CRM: Salesforce, Hubspot and RD Station

  • Competitor Analysis: SEMrush

  • Data Visualization: Microsoft PowerBI, Tableau, Qlik and Google Data Studio

With the support of Marketing Analytics strategies and some digital solutions, it is possible to achieve excellent results. Once the marketing, sales, purchasing, e-commerce, administrative and operations departments start to make good use of data, it becomes more than clear that this is a great investment.


Falqon has 10 years of experience with more than 200 information technology projects for the so-called Big Data & Analytics. This segment encompasses DW technologies - Data Warehouse, BI - Business Intelligence, Data Analytics, Data Science and Web Analytics. Our trajectory allows us to defend the thesis that any company, in order to remain competitive, must act in the so-called Data Driven mode, that is, data driven. And so you know your market, your customers and thus achieve the desired goals.


Get in touch and find out how we can help you!


by Félix Muniz, CEO - Falqon Specialist in Strategy and Management for Technology Businesses; Startup Maker and Entrepreneur.

Comments


bottom of page