Marketing Analytics Strategy: An Advanced Way to Scale Your Business

Sagar Srivastav | December 24, 2021 | 94 views

Marketing Analytics Strategy
It is crystal clear that marketing analytics has taken businesses to another level and empowered them with better decision-making. There are innumerable benefits of adopting marketing analytics. Let’s take a look.

Why Does Marketing Analytics Matter?

After the pandemic, most businesses have been inclined towards researching their marketing approach. They found that marketing analytics is the most success-driven step that allows companies to evaluate their marketing performance in terms of profitability, customer opinion, ROI, promotional activities, product strategy, competitive analysis, etc. It also assists in creating a persuasive and effective strategy to attract a target audience.

Correct Ways to Utilize Marketing Analytics

Knowing about marketing analytics is not enough. It requires the right approach to influence your audience and convert them into long-term customers. Let’s discover.

Maintain High-Quality Data

Invest in the future and have a plan to improve your data collection and quality.”

Don MacLennan, Co-Founder and CEO

Data is a vital and unavoidable component of implementing marketing analytics. You need to store quality data. It allows marketers to perform in better ways. Marketers can make decisions on product updates, strategy, branding, product developments, customer trends, and product intelligence by keeping high-quality data. You can segment your audience based on age, gender, education, location, requirements, etc., and enhance your approach.

Effective KPIs


Selecting the right measure and measuring things right are both art and science. And KPIs influence management behavior as well as business culture.”

Pearl Zhu, CIO Master

Businesses need to select metrics and dimensions based on business objectives. Setting up appropriate KPIs assists in recognizing the close learning gap, measuring outcomes, analyzing consumers’ behavior data, etc.

Marketing Dashboard

The dashboard is a platform that businesses utilize to gather all KPIs and essential components. Therefore, a dashboard should be organized, familiar, and easy-to-access. It should have all-in-one monitoring, set data deviation, reliability, and accuracy. By implementing such a dashboard, you can reduce business risk and receive appropriate information regarding your target audience.

Selection of Right Analytic Tool

Selecting the right analytic tool helps analyze your audience, campaign optimization, segment customers appropriately, find relevant information, drive positive ROI, etc.

Predictive Analysis

Predictive analysis is the process of calculating present data to strategize future approaches and gain desired outcomes. It assists in comprehending customers' behavior, monitoring and automating machine maintenance, preventing security breaches, and reducing risk.

Contextual Customer Experience

Businesses find contextual service is a fantastic way to influence the audience by sharing their positive experience with the company. Nowadays, most customers search online to learn more about the products that allow their customers to share their positive experiences on customer portals which are ideally integrated websites or social media. It works like social proof and persuades customers to experience your service or product.

Campaign Analytics

After designing a campaign, businesses need to focus on analyzing it. You can analyze your campaign and its performance in terms of reach, conversion, likes, shares, comments, channels, content, etc. These factors will help you to understand the loopholes that you can overcome in your next planning.

Customer Privacy

Customer privacy is an essential part that builds brand credibility amongst your customers and persuades them to tell others about your brand. Marketers are utilizing different software to keep an eye on customers’ privacy.

Adoption of AI & ML

Artificial intelligence and machine learning, both the technologies are highly beneficial to make reduce the marketing efforts by enhancing business’s efficiency. You can implement these technologies as they providing optimistic response to the companies.

Inbound Marketing

The drastic adoption of inbound marketing shows that businesses found it very effective. Inbound marketing assists in enhancing brand awareness and build credibility through refocusing tactics that drive traffic to a website.

Netflix

Netflix uses data traditional business tools as well as additional information to store data. This helps the brand understand what to promote to specific users, increasing the watch time and generating revenue from customer engagement.

Final Thoughts


Tracking marketing is a cultural thing. Either tracking matters or it doesn’t. You’re in one camp or the other. Either you’re analytical and data-driven, or you go by what you think works. People who go by gut are wrong.”

Stuart McDonald, consultant and formerly CMO at Freshbooks


Marketing analytics assist in making your personalization marketing more effective, gaining a full view of consumers, sharpening social media tactics, and engaging your consumers in real-time and maintaining a robust connection with them.

Marketing analytics can transform businesses. Organizations must implement it in a very specific way. Here are some fantastic tips that can help you create an effective and significant marketing analytics strategy. 

Frequently Asked Questions


What are the best tools for marketing analytics?

Marketers utilize Google Analytics, SEMrush, Buzzsumo, and Cyfe as the most prominent marketing analytic tools.

How does marketing analytics impact B2B?

Implementing marketing analytics assists in monitoring advertising campaigns, gathering user behavior data, improving ROI, etc.

What exactly is first-party data?

First-party data is the information that a company gathers about consumers through its own sources, such as websites, CRMs, and social media platforms.

Spotlight

Thrive Internet Marketing Agency

Thrive is a full-service digital marketing agency headquartered in Arlington, Texas. Since we are a full-service agency, we can handle everything in-house from building a custom WordPress website to managing your social media to developing and executing a search engine marketing campaign.

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Lifecycle Marketing: Conquering Customer Engagement

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Thrive Internet Marketing Agency

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Grip Security | September 27, 2022

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AscellaHealth Named National Association of Specialty Pharmacy (NASP) Strategic Channel Partner of the Year

AscellaHealth | September 26, 2022

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Grip Security launches first partner program to drive sales of their SaaS application protection

Grip Security | September 27, 2022

Grip is looking to add partners who understand the differentiated value of their offering, and the uniqueness that it will provide to customers looking for improved SaaS security. Grip Security, which makes a SaaS security solution that unifies discovery, access control and data governance, has announced the Grip Security Partner Program. Grip emerged from stealth in April 2021 with a SaaS security solution designed to go beyond the limits of traditional CASBs, while at the same time making it easy to cover a large number of apps, overcoming a problem that exploded with the number of apps where many apps were simply not covered. “The company has grown by 300% and has seen a 500% growth in engagements with Fortune 500 companies,” said Lior Yaari, Grip Security’s CEO. “The company has grown by 300% and has seen a 500% growth in engagements with Fortune 500 companies,” said Lior Yaari, Grip Security’s CEO. “There has been a lot of change and a lot market change.” Because SaaS is closely tied to identity, Grip made it a top priority to establish deep integrations with as many identity providers as possible. That phase has now been completed. “We have extended our integration to almost every identity provider in the market today – almost a dozen,” Yaari said. “We are now looking at bringing joint offerings with large security vendors to market. Many of these joint integrations have been signed, but have not yet been announced, as we are still building out joint value.” Grip started out briefly selling direct in their proof of concept stage, but the pivot to the channel was in their plans, and that too has already taken place. “We have a channel-focused Go-to-Market strategy,” Yaari stated. “14 is the number of partners that we have right now, and that is growing fast. Our third U.S. hire was our director of channel sales. This is a critical part of our strategy.” The plan is for a fairly rapid channel expansion, not just to work with a small number of partners until they become successful. “We aren’t looking to work with 10,000 partners, but we do want to find enough key partners,” Yaari indicated. “We are not looking for logos on the web site. We are looking for partners who want to work with us so that we can make each other successful, and where they can position themselves as a source of innovation with us.” Insight is one of their initial partners. “With Insight, we are not part of a special innovation program,” Yaari said. “They are an example of a partner that we have a good relationship with, who understand how to drive need and who knows that SaaS is becoming bigger.” The problem many partners face is that since SaaS is relatively new, as they think organizations don’t have the right solutions to fix it, and they themselves lack the right backdrop for channel sales to explain it to the customer. “For the partner, they keys are understanding the problem space, understanding the market and the patching that is used today, and understanding how we are unique and the right questions to ask to get a meeting,” Yaari said. The program begins with a single tier, but Yaari said that they intended to expand that as the program builds out further. Simplicity is a dominant feature of the new program. “Our product is very different from other security products,” said Young-Sae Song, Chief Marketing Officer at Grip. “It takes 10 minutes to install. It is simple enough to be demoed by a channel sales person. You don’t need a technical person with deep training to demo it.” Grip also supports partners with jointly funded programs to promote Grip, as well as co-branded sales materials. Song said that because Grip isn’t heavy like most SaaS solutions, the channel can go to market very quickly with it. “It is probably faster for them than any other enterprise security product,” he stated. It also provides support for more than 20,000 SaaS applications, allows for 80% reduction in analyst workload, and has five times more SaaS application discovery compared to CASBs.

Read More

MARKETING STRATEGY

ChannelAdvisor Launches New Integrations to Help Brands Effectively Scale Retail Media and Selling Operations

ChannelAdvisor | July 19, 2022

ChannelAdvisor Corporation (NYSE: ECOM), a leading provider of cloud-based e-commerce solutions that enable brands and retailers to increase global sales, today announced new integrations and platform capabilities to help improve product visibility, meet new sources of consumer demand and increase operational efficiencies. "With more than 350 marketplace and retail integrations, ChannelAdvisor's commitment to helping brands reach consumers across all stages of the consumer journey is obvious" said Steve Frechette, Vice President of Product Management at ChannelAdvisor. "Our Summer Release further demonstrates this unparalleled support by introducing an entire network of retail media channels that allow our customers to boost their visibility on some of the largest global retailers. By integrating with Criteo, one of the world's largest retail advertising networks, our sellers are now even better equipped to manage their retail media campaigns alongside their selling and order management operations - all within a single interface." ChannelAdvisor's Summer Release includes: Expanded Advertising Reach through Criteo With over five years' experience leading the charge in retail media, Criteo has established itself as a critical platform for brands seeking to expand advertising efforts across the same retail sites where they list their products. By integrating with the Criteo Retail Media API, ChannelAdvisor's Managed Services and sales teams can empower brand advertisers with more choices for how they manage and optimize their retail media campaigns with leading retailers, while expanding their advertising to reach high-intent shoppers in new cookie-less channels. ChannelAdvisor provides brands with a central platform for product listings and advertising strategies by leveraging automation capabilities for campaign creation and management, automated bidding, and ad management across preferred retail channels. "We're thrilled to have ChannelAdvisor join Criteo's API Partner Program," said Sherry Smith, Executive Managing Director Global Retail Media at Criteo. "Integrating with a leading multichannel commerce solution like ChannelAdvisor allows brands and retailers to expand their advertising to new retail media channels, while continuing to manage their campaigns in a centralized platform." New Product Showcase Capability for Brands and Channels on the ChannelAdvisor Commerce Network Since ChannelAdvisor released its Commerce Network in late 2021, more than 1,100 sellers and partner channels have created sharable profiles using the interactive portal. In this latest release, ChannelAdvisor's new Product Showcase feature enhances the experience by allowing sellers to promote products to potential channel partners that are looking for inventory, creating interest and cultivating new connections. Product Showcase also gives ChannelAdvisor channel partners an even deeper understanding of the product catalogs offered by sellers, leading to more connections within the Commerce Network, and mutual sales opportunity and growth for both channel partners and sellers. Enhancements to the Way Brands Can Integrate with ChannelAdvisor at Scale This product release also helps ChannelAdvisor customers automate key processes, including: Automated Export for Listing Views: Monitoring marketplace listings can be a time-consuming task for most sellers. ChannelAdvisor's Automated Export for Listing Views enables sellers to quickly identify and manage listing issues at scale. This in turn empowers sellers to create highly customizable listings exports that are automatically delivered to their inbox to allow for automated processing. Support for Webhooks: Sellers increasingly rely on accelerated business-critical processes to best manage consumer demand. ChannelAdvisor's support for Webhooks helps sellers save time and processing costs by allowing them to identify orders when they happen. Users can also specify a destination and ensure that any new order events are pushed directly to that system. Access Well Over 350 Marketplace and Retail Integrations to Reach New Consumers ChannelAdvisor continues to reinforce its commitment to channel diversification with support for more than 350 channels globally, giving brands and retailers the reach and flexibility to present their products to the right consumers at the right time across the globe. With this latest release ChannelAdvisor has added support for over 20 new channels including: Marketplaces: Bed, Bath & Beyond (US, CA) Check24 (DE) Debenhams (UK) Decathlon (BE, FR) Poshmark (US) Shopee (ID, MY, PH, SG, TH, TW, VN) Trendyol (DE) Veepee (ES, IT) 1P Retail Integrations: Douglas (NL) Rue Gilt Groupe (US) More to Explore Learn more about ChannelAdvisor's suite expansion by registering to attend the upcoming webinar on July 19 at 11 a.m. EDT/ 4 p.m. BST. About ChannelAdvisor ChannelAdvisor (NYSE: ECOM) is a leading multichannel commerce platform whose mission is to connect and optimize the world's commerce. For over two decades, ChannelAdvisor has helped brands and retailers worldwide improve their online performance by expanding sales channels, connecting with consumers across the entire buying cycle, optimizing their operations for peak performance, and providing actionable analytics to improve competitiveness. Thousands of customers depend on ChannelAdvisor to securely power their e-commerce operations on channels such as Amazon, eBay, Google, Facebook, Walmart, and hundreds more. For more information, visit www.channeladvisor.com.

Read More

CHANNEL PARTNERSHIPS

AscellaHealth Named National Association of Specialty Pharmacy (NASP) Strategic Channel Partner of the Year

AscellaHealth | September 26, 2022

AscellaHealth, a global healthcare and specialty pharmacy solutions company, is extremely honored to be named Strategic Channel Partner of the Year at the recent National Association of Specialty Pharmacy (NASP) Annual Meeting & Expo. This award is given to an organization such as a manufacturer, technology provider, GPO, Hub service provider, logistics provider, nonprofit or other that provides a service or solution to facilitate the delivery of high-quality, cost-effective specialty pharmacy care. Honored to receive this award, Dea Belazi, president and CEO, AscellaHealth says, "This extraordinary recognition by such an esteemed organization as NASP belongs to our talented team of strategic innovators with unparalleled industry experience and expertise. It is extremely gratifying to gain this unique distinction in the specialty pharmacy market and our entire organization is deserving of this hon Honored to receive this award, Dea Belazi, president and CEO, AscellaHealth says, "This extraordinary recognition by such an esteemed organization as NASP belongs to our talented team of strategic innovators with unparalleled industry experience and expertise. It is extremely gratifying to gain this unique distinction in the specialty pharmacy market and our entire organization is deserving of this honor.” AscellaHealth is part of The AscellaHealth Family of Companies: including subsidiaries Optime Care dedicated to rare, orphan/ultra-orphan disease patients and Terebellum, a global organization serving pharmaceutical manufacturers. Belazi continues, "The AscellaHealth Family of Companies provide single-source, end-to-end solutions to tighten the specialty pharmacy value chain. In the highly fragmented current marketplace with multiple vendors handling each stage of the pre-launch, commercialization, distribution and fulfilment processes, manufacturers value our one stop, consultative approach. Most importantly, we are always mindful of putting patients at the center of all our initiatives." With a focus on optimizing access to expensive specialty and rare disease medications and improving patient outcomes, AscellaHealth provides a full spectrum of cutting-edge programs and services that are valued by all stakeholders, including patients, payers, life sciences manufacturers and providers. AscellaHealth core services include pre-commercialization and market access, comprehensive Hub and patient support, exclusive distribution partnerships and national specialty medication fulfillment, data analytics, supply chain logistics and payer/pharmaceutical financial solutions. To learn more about AscellaHealth’s unique life sciences solutions, email businessdevelopment@ascellahealth.com About AscellaHealth LLC AscellaHealth is a global Healthcare & Specialty Pharmacy solutions organization serving patients, payers, life sciences manufacturers and providers, offering a comprehensive portfolio of customized, tech-enabled specialty pharmaceutical and personalized medical management services. A multiple Inc. 5000 winner, AscellaHealth’s unique, patient-centric approach is built upon proprietary technology processes for innovative programs and services optimizing health outcomes and quality of life for patients with complex chronic conditions or rare diseases that require specialty medications and/or gene and cell therapies. Most recently, AscellaHealth has joined with its subsidiaries, Optime Care and Terebellum to form the AscellaHealth Family of Companies. Visit www.AscellaHealth.com.

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