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Why Digital Marketing Analytics Matter to Your Business

Effective marketing and advertising have always been fueled by a strategic mix of art and science. In the past, the ability to make data-driven decisions was reserved for the world’s largest companies with dedicated data science teams and multimillion-dollar research budgets.

Today, companies of all sizes have the ability to collect and analyze more marketing data than ever before. From smartphone and social media usage to website analytics, everything is trackable.

Assessing the astounding amount of data can seem overwhelming for digital marketers. But, it doesn’t have to.

The key to digital marketing analytics is understanding and using the analytics tools and metrics that apply to your business.

What is Digital Marketing Analytics?

Digital marketing analytics measures, tracks, and analyzes your campaign performance for better decision-making. It provides insights to understand audience behavior better, improve strategies, and avoid wasting resources.

Consumers want personalized experiences that meet their specific needs. Marketing analytics tools gather data from multiple channels such as blog posts, social media, and website activity to understand your buyers’ behaviors and improve your digital content.

When you measure and analyze the right information, you can cater your message to your audience’s preferences and build brand loyalty.

7 Marketing Analytics For Your Business To Focus On

With all the Big Data available, it’s tempting to track and measure every metric. But, the reality is not all metrics matter to every business, and your metrics may change depending on your campaign.

Focusing on these seven digital marketing metrics will help you make better marketing decisions.

  • Qualified Leads

Creating leads is the foundation of inbound marketing for digital marketers. But, not all leads are created equal. You want to make sure you measure for Qualified Leads that have the greatest potential for conversion. Focus on creating content that answers their questions and needs.

  • Traffic Source

Knowing which channels and campaigns drive visitors to your website enables you to invest more time and money on sources that increase traffic. Total website traffic is a strong indicator of content performance.

Traffic sources to focus on are direct visitors, social media, organic search, and referrals. One of the most robust and free analytics tools for measuring website traffic is Google Analytics.

  • Page Views

Once visitors are on your website, you want to look at which pages attract the most attention. This is crucial to content and SEO strategy. Make sure to include Call-to-Actions and links on pages with a lot of views to increase conversion rates.

Don’t disregard a page that is not performing well; this is an opportunity to adjust your inbound marketing strategy and bring additional traffic to your website.

  • Time Spent on Site

The average time a visitor spends on your websites can provide meaningful insight into the user experience. A better user experience and high-value content will result in longer time spent on your website.

You want to make sure visitors have a variety of content and pages to view to establish industry authority and gain repeat visitors.

  • Shared Content

Knowing when and where your content is mentioned and shared is essential to your marketing efforts. Social media is an excellent source for monitoring mentions and brand awareness. Start by looking at metrics that measure when content is shared or retweeted.

Most social platforms provide tools to help you monitor impressions or use independent marketing analytics software like Sprout Social for cross-channel social metrics.

  • Bounce Rate

Bounce rate indicates the percentage of visitors that viewed a single page on your website and then left. A higher bounce rate usually means visitors are not finding your content compelling, or you are misdirecting them to the wrong page.

If your bounce rate is high, change your web page with new graphics, links, and lead magnets. Once again, Google Analytics provides reliable metrics to help you measure your bounce rate.

  • Conversion Rate

One of the most important metrics to monitor is your conversion rate. Using marketing analytics, you can measure your conversions and see which pieces of content are most effective. You’ll also be able to recognize which marketing efforts are underperforming and adjust where appropriate.

Ultimately, if you’re not converting leads, you’re wasting time and resources. HubSpot’s marketing automation platform allows you to see which marketing efforts are converting.

Benefits of Digital Marketing Analytics

The more metrics you track, the better your understanding of your customer journey. Having access to this information and knowing what to do with it provides significant benefits that impact your overall business goals.

Build Credibility: Digital marketers play an integral role in a business’s online presence to promote the brand. By utilizing marketing analytics technology, marketers can use data for better insights into business decisions, increasing credibility throughout the organization.

Save Time & Money. Working within a single platform to measure success across all channels simplifies the process. Teams can adjust marketing efforts across the business more quickly while reducing marketing spending.

Increase Revenue. With the right marketing analytics tools, you gain access to a large amount of data on your customers’ preferences. Utilizing these analytics in the decision-making process provides more accurate predictions and quicker revenue growth.

At New Path, we are all about data-driven decisions. We are committed to partnering with clients to create lasting value from their digital marketing and advertising investments.

New Path clients have access to miDashboardTM that accepts data from across all areas of your business and weaves it together in one place. Access to miDashboardTM gives you the power to make data-driven decisions at every turn on your path to digital maturity.

Ready to start using analytics to your advantage? Contact us today or view Our Services to learn more about our offerings.

 

Summary

With all the Big Data available, it’s tempting to track and measure every metric. But, the reality is not all metrics matter to every business, and your metrics may change depending on your campaign. When you measure and analyze the right information, you can cater your message to your audience’s preferences and build brand loyalty.

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