Measure & Data Analysis
You can’t manage or improve what you don’t measure, and this is especially true for an inbound marketing strategy.
More now than ever, CEOs, CFOs, and CMOs want to place hard numbers to return on investment (ROI), while also finding ways to get the most bang for their marketing buck. With an inbound marketing solution comes the ability to track the return on investment for marketing dollars.
The accurate assessment of campaign performance, marketing return on investment, and competitor analysis starts well before marketing actually begins. It’s important that key performance indicators (KPIs) and actionable goals, related to specific growth areas, are set prior to the implementation of any marketing campaigns.
Marketing analytics is the measurement and optimization of your marketing activities. Rather than focusing on just the performance of your website analytics, it is essential that your company also focus on how your marketing efforts are performing, and adjust them accordingly. When you ask yourself the question, “How did that marketing campaign really go?”, the data made available by inbound marketing software helps you to clearly and accurately assess the real performance. You’ll be able to analyze important elements like: the way you executed the marketing campaign, what time of day you did things, and the vehicles used, and the conversations and engagement offsite (i.e. on social media) that resulted from your inbound marketing efforts. Depending on your business, you should review your inbound marketing activities either weekly or monthly to analyze the numbers and discover what’s working and what is not.
Measuring campaign performance goes beyond simply reporting your visitor counts, time on site, and conversions. It involves also measuring KPI-driven results like conversations, comments, and shares. Our inbound marketing software solution allows you to specify your own performance goals, such as “Increase web traffic by 10%” within a specific time frame, and shows you the progress you are making towards achieving those goals. In addition, having this software to measure your campaign performance is very beneficial as it helps you to identify reasonable goals as you move forward with adjusting existing and implementing new campaigns in the future.
Marketers think in terms of campaigns, not necessarily websites; therefore, you’ll love the fact that our inbound marketing solution accommodates multiple campaign management. Each action you take in the inbound marketing software dashboard is assigned to a defined campaign. Campaigns are assigned a cost and the value of a lead under that campaign, ultimately providing you with measurable return-on-investment (ROI) data to indicate the effectiveness of that particular marketing effort.
The campaign performance management component of inbound marketing automates and integrates the planning, execution, assessment and refinement of possibly tens to hundreds of highly segmented campaigns running monthly, weekly, daily or intermittently.
Benefits of Campaign Performance Management
Marketing Data Analytics
Marketers often make decisions based on data from individual channels (i.e. website metrics) without 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 really inadequate. Marketing analytics garnered from our inbound marketing software, by contrast, considers all marketing efforts across all channels over a span of time. This data is essential for sound decision making and effective, efficient program execution.
There is absolutely no real value in all the information marketing analytics can give you – unless you act on it! In a constant process of testing and learning, marketing analytics enables you to improve your overall marketing program performance by identifying channel deficiencies, adjusting strategies and tactics as needed, and optimizing your processes.
Applied holistically, marketing analytics allows for more effective and efficient marketing campaigns am more successful marketing by enabling you to close the loop as it relates to your marketing efforts and investments.
Questions Marketing Data Analytics Can Answer
Competition Insight Analysis
Every company has competition. The competition may be direct or indirect, but there is always competition. McDonald’s competes with at-home cooking. Emergency care clinics compete with hospitals. Home improvement companies can find itself competing with the do-it-yourselfer. Competition is all around you, and if you don’t keep an eye on what your competitors are doing, you’ll look up and they will be taking more of the market share from you.
Get ahead of the curve with competition insight analytics available in our inbound marketing software. You’ll be able to glean insight into how your competitors are performing by setting up comparative analyses between your company and your competitors by having the ability to track rankings, inbound links, SEO keywords, and much more. Use the data from competition insight analytics to improve your marketing efforts and set your company a part from the competition so that your ideal target market is drawn to do business with your company.
Benefits of Competition Insight Analysis