Digital Marketing Analytics: What Are They and Why Are They Important?
As digital marketers, we are obsessed with analytics, and for a good reason. Analytics are the heart of the digital marketing industry. So much of what we do wouldn't be possible without the extensive data available to us! Analytics help us measure the effectiveness of your digital marketing strategies and improve them over time. Without studying this data, it's hard to ensure your marketing efforts will achieve the desired results. But what exactly are digital marketing analytics, and why are they important? Let us tell you!
What is Digital Marketing Analytics?
Digital marketing analytics measure, track, and analyze marketing campaigns. Analytics provides insights to understand audience behaviour, improve strategies, and avoid wasting resources. Customers want personalized experiences that meet their specific needs. Analytics tools gather data from multiple marketing channels like blog posts, social media, and website activity to understand customer behaviours and improve digital content. They also help to understand which marketing channels are most effective, what improvements can be made and what is working to continue to increase sales. Measuring and analyzing the right information allows you to better cater your products and services to your audience's needs and build brand loyalty.
Why is Digital Marketing Analytics Important?
Analytics are important because they can tell us how effective marketing strategies are, from email to pay-per-click advertising (PPC). Analytics also show us your audience's preferred channels, which helps us optimize where to advertise. For example, if analytics show that a particular segment of your customers uses Instagram more than any other channel, it would make sense to spend more on Instagram advertising. Analytics can also tell us how much money is spent on specific marketing channels and how effective they are. If one campaign is underperforming compared to another, we can adjust accordingly! Analytics data can be used to determine what media channels are best for your target market, what the demographic is, what keywords should be used in search engine optimization (SEO), and which content is likely to result in a conversion. Analytics is essential because it helps determine how much your business needs to make and allows companies to track ROI on ad campaigns.
The Benefits of Digital Marketing Analytics
When we measure metrics, we can better understand your customer's journey. Access to analytics and knowing what to do with the information provide significant benefits that can impact your overall business goals.
- Builds Credibility: As digital marketers, we play an essential role in a business's online presence by promoting your brand. By utilizing digital marketing analytics, we can use that data for better insights into business decisions and increase your organization's credibility.
- It Saves Time & Money: We can simplify the process by working within a single analytics platform to measure success across all marketing channels. This allows us to adjust marketing efforts for your business more quickly while reducing marketing spending.
- Increases Revenue: Using the right digital marketing analytics tools, we can access a large amount of data about customers' preferences. Utilizing these analytics in your marketing strategies provides us with more accurate predictions and allows for faster revenue growth.
Analytics Tools
There are a lot of excellent tools that help you track and measure your analytics. Some of them are free, but others cost money. Some free tools include Google Analytics, Crazy Egg and Hotjar. Google Analytics is one of the most important digital marketing analytics tools. It's free, and it tracks all sorts of data. You can see how many people visit your website and what they do once they're there—how much time they spend on each page, which pages have the most traffic, where people come from (search engines or direct traffic), and what links bring them in. You can also set up goals to track specific actions that are important to you, such as signing up for newsletters or making an online purchase. This is important because it's key to understanding why people convert or don't convert into customers for your business!
Encompass Can Help You With Analytics
Data is the new currency of business, but not everyone knows how to harness it. You can measure all aspects of your digital marketing strategy with analytics and ensure everything works correctly. If you need assistance tracking your analytics, we can help! Encompass Online Marketing Ltd. is a full-service digital marketing agency. Our expert team of digital marketers has much experience using platforms like Google Analytics to help our clients increase their revenue. We know what it takes to help you reach your business goals. Contact us today!
Written By: Trenton Ross