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.

Technology has transformed the marketing and advertising landscape, creating an environment where data-driven decisions are available to all — calling for quality digital marketing analytics.

Digital marketers can now use a wealth of digital analytics tools and metrics gleaned from consumer smartphones, social media usage, and website navigation—almost any action online leaves traces that savvy businesses can track.

Though this astounding amount of data may seem daunting at first glance, it provides digital marketers with unprecedented insight into their target audience—if used correctly. The secret is understanding which data points provide useful insights for your specific business objectives.

Now you understand the importance of marketing analytics and why marketing analytics is essential in optimizing your business performance, Let’s explore the subject in detail.

What is Digital Marketing Analytics?

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

The modern consumer craves personalized experiences tailored to their individual needs and values. To get closer to the customer, businesses are leveraging digital marketing analytics tools that gather data from multiple sources.

Sources could include blog posts, social media platforms, and website activity—all in order to better understand their target audience’s behaviors, preferences, and interests while creating more effective digital content strategies.

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, tracking and measuring every metric is tempting. But, the reality is not all metrics matter to every business, and your metrics may change depending on your campaign.

Focusing on these seven web analytics will help you make more informed decisions, ultimately leading to more marketing-qualified leads.

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 digital analytics tools for measuring website traffic is Google Analytics. And if you haven’t yet converted to GA4 (Google Analytics 4) you need to do so ASAP, because Google Analytics goes away on July 1, 2023.

Page Views

Once visitors are on your website, you want to look at which pages attract the most attention both with pageviews and unique page views. This is crucial to content marketing analytics strategy and SEO strategy. Make sure to include Call-to-Actions and links on pages with high page 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

A visitor’s average time on your website and the number of pages viewed can provide meaningful insight into the user experience. A better user experience and high-value content will result in a 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, update 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. By using and understanding 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

Digital marketing analytics services provide the roadmap to managing your customer journey, giving you valuable insight into how best to achieve success in today’s ever-evolving digital landscape. Making informed decisions and clearly understanding what works can drive significant growth for your business.

Build Credibility

Digital marketers have the power to boost a brand’s credibility with analytics technology. By harnessing data-driven digital marketing insights, marketing teams can equip businesses with invaluable intelligence for making sound decisions and advancing their online presence.

Unlock Power Efficiencies

Save time and money while gaining a deeper understanding of your customer’s journey by unifying data into one platform. Doing so allows teams to make strategic decisions that drive business success more efficiently—making the most of their marketing investments.

Increase Revenue

Unlocking the power of modern marketing analytics is how businesses can take their revenue to the next level. Digging deeper into customer preferences makes data-driven decisions easier and more accurate, paving a path toward increased profitability.

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 which 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.

Blog Last Updated on 1 month by New Path Digital

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