Key To Understanding Digital Marketing Analytics
Transforming digital marketing analytics into actionable insights lies at the core of effective marketing. It is putting into action the studies, numbers and the application of the research. It is more than understanding the digital marketing analytics but it is taking the concrete data and using it to create strategies that bear results. Many marketers admit to being intimidated by digital marketing analytics. Only 14% of marketers are truly confident in analyzing data and turning those numbers into actionable strategies. In spite of premium marketing analytic tools, confidence with data is still lacking.
The key to understand digital marketing analytics better is to select the analytic tools and metrics that apply to your particular business. There are many digital marketing analytic tools available, but it does not correspond and translate to the need of the business. Marketers now feel challenged to find the relevant analytics.
After gathering the data, how can it lead to action and transformation to a concrete ROI or even cost cutting?
Using digital marketing analytics
Digital marketing analytics measures, tracks and analyzes your campaign performance. It improves the management of your digital marketing. Thus, learning from it, it will help you reach your business goals and help you improve.
To start with, you need to determine the following:
1.What are the right metrics for my marketing campaign?
You need to look for metrics that pertains to your business. It must be relevant to your digital marketing strategy as you measure its visibility, engagement and conversions. It is important then to have these three components of your measurable goal. Behavior of your target audience, amount of change and time are three components you must start with.
Target audience behavior: one important component to gauge your success is to see if your target audience takes some sort of action. It is outlining the behaviors you are looking to change. What are your desired audience behaviors from your campaign?
Amount of change: this identifies how much you want the behavior to change. It is tracking the number of clicks and visits to your website and how much you want to change your website visitor’s behavior.
Time: this is how long it will take you to change your target audience’s behavior. Your goal must have a time element in order to analyze data points and understanding how the marketing campaign performs.
Digital marketing tool to use:
The simplest and toughest web analytics that is completely free to use generates detailed statistics about your visitors to your website. It determines where your visitors come from, what they are doing while on your site and how often they come back and among many other things to measure your marketing impact.
Mixpanel tracks detailed and comprehensive user behavior to give companies insights into what users are doing on the web and mobile device, or how much time they are spending within an application. It determines the following: where the web users congregate;which buttons are being pushed frequently and usage rates for certain features.
2.Determine your owned and earned social metrics
To determine your right metrics is a challenge as there are many metrics available. However, in choosing your metric, keep in mind that your metric must support the behaviors you are trying to change.
Owned social metrics relates to the social platforms such as Facebook, Twitter, YouTube, Slideshare, Pinterest, Google+, Flickr and among others. With these platforms, you can manage to maintain your communication or engagement with your customers for greater brand awareness.
Earned social metrics has two kinds: earned conversations (social media conversations that are taking place outside the owned social media properties) and in-network conversations (can foster a sense of contribution in the online community). It tracks some content marketing or content that can determine how well it does in inspiring action and increasing engagement.
Digital marketing tools:
The new data-driven measurement process for tracking how each piece of content is driving leads and conversion. It takes a granular look at the effects of singular marketing deliverance to ROI (Return of Investment). It could help you to tell the amount of revenue a single tweet or blog post contributed to the business as a whole.
Kissinsights from Kiss Metrics (kissinsights.com)
Kissinsights provides easily implemented and customized feedback form for website visitors. You can manage all the questions through a single and simple dashboard.
3.Demystifying or translating web data
Web data tends to be the most confusing of all digital data sources. As there are many web data available. To track the effectiveness of a website and how it interconnects with other channels, you can use the following most popular metrics.
Visits – are the number of times people have been on your website considered unique? Do they come to your page, click a few links, and then leave?
Unique page views – specified page or pages viewed once during the number of visits.
Bounce rate– the percentage of visitors to a website who navigate away from the site after viewing from the initial landing page.
Pages per visit – simply the number of pages a user viewed during a single session.
Conversion – when tracking a conversion, it is the number of times someone has taken action on your page and is an important metric as it is the clear way to demonstrate the value of a marketing strategy.
Digital marketing tools:
Helps marketers create ROI plans while leveraging big data. From budget planning to best practices to monitoring and tracking results, Marketing Evolution close-loop marketing effectiveness system creates a cycle of continuous improvements in your marketing.
Takes conventional data kept by marketers and CMOs, compiles it and crunches it to reveal patterns that confidently predict future buyer behavior. Predictive analytics allow marketers to more concretely see what messages or content they should be creating in order to optimize their revenue potential.
4.Searching for the right search metrics
Search analytics is the use of search data to investigate particular interactions among web users or searchers, the search engine or the content during search sessions. It has two categories: paid searches, which is any form of online advertising that matches an ad to a specific keyword-based search request; and the organic searches, which are listings on search engine results pages that appear because of specific relevance to search terms and not driven by an advertisement. You use search metrics in order to analyze your status in digital marketing.
Aligning digital and traditional analytics
Digital and traditional analytics (structured, repeated analysis) when used together creates a great impact in to your marketing strategy. Digital data (exploratory analysis) can strengthen traditional data and traditional data can build up digital data. The best way to approach measurement is by examining traditional marketing trends together with big data trends (or what marketers can explore further).
Alvomedia is a results driven inbound marketing service in London that combines data analytics with content to optimize your online presence. Contact us at firstname.lastname@example.org for a consultation today.