Unity Central then use Marketing analytics, gathering data from across all marketing channels and consolidates it into a common marketing view. From this common view, we can extract analytical results that can provide invaluable assistance in driving your marketing efforts forward.
Why marketing analytics is important
Over the years, as businesses expanded into new marketing categories, new technologies were adopted to support them. Because each new technology was typically deployed in isolation, the result was a hodgepodge of disconnected data environments.
Consequently, marketers often make decisions based on data from individual channels (website metrics, for example), not taking into account the entire marketing picture. Social media data alone is not enough. Web analytics data alone is not enough. And tools that look at just a snapshot in time for a single channel are woefully inadequate. Marketing analytics, by contrast, considers all marketing efforts across all channels over a span of time – which is essential for sound decision making and effective, efficient program execution.
What you can do with marketing analytics With marketing analytics, we can answer questions like these:
How are your marketing initiatives performing today? How about in the long run? What can we do to improve them?
Three steps to marketing analytics success To reap the greatest rewards from marketing analytics, Unity Central follow these three steps:
- Use a balanced assortment of analytic techniques.
- Assess your analytic capabilities and fill in the gaps.
- Act on what we learn.
To get the most benefit from marketing analytics, you need an analytic assortment that is balanced – that is, one that combines techniques for:
Reporting on the past
By using marketing analytics to report on the past, we can answer such questions as: Which campaign elements generated the most revenue last quarter? How did email campaign A perform against direct mail campaign B? How many leads did we generate from blog post C versus social media campaign D?
Analysing the present
Marketing analytics enables us to determine how your marketing initiatives are performing right now by answering questions like: How are our customers engaging with us? Which channels do our most profitable customers prefer? Who is talking about our brand on social media sites, and what are they saying?
Predicting and/or influencing the future
Marketing analytics can also deliver data-driven predictions that we can use to influence the future by answering such questions as: How can we turn short-term wins into loyalty and ongoing engagement? How will adding 10 more sales people in under-performing regions affect revenue? Which cities should we target next using our current portfolio?
Assess your analytic capabilities, and fill in the gaps
Marketing organizations have access to a lot of different analytic capabilities in support of various marketing goals, but if you’re like most, you probably don’t have all your bases covered. Assessing your current analytic capabilities is a good next step that we can do. After all, it’s important to know where you stand along the analytic spectrum, so we can then identify where the gaps are and start developing a strategy for filling them in.
Act on what you learn
There is absolutely no real value in all the information marketing analytics can give you – unless this information is acted. In a constant process of testing and learning, marketing analytics enables you to improve your overall marketing program performance by, for
- Identifying channel deficiencies.
- Adjusting strategies and tactics as needed.
- Optimizing processes.
Without the ability to test and evaluate the success of marketing programs, we would not know what was working and what wasn’t, when or if things needed to change, or how. Marketing analytics can lead to better lead nurturing and management, which leads to more revenue and greater profitability. By more effectively managing leads and being able to tie those leads to sales – which is known as closed-loop marketing analytics – Unity Central will be able to show you which specific marketing initiatives are contributing to your bottom line.