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Nov
01

Marketing Analytics and Social Media – The Game Changers”

Looking at the changing trend of marketing space, two new terms “analytics and social media” has become an important platform to carry out marketing campaign for marketers. Let us see as what marketing Analytics is all about.
Marketing Analytics is a process of measuring and analysing marketing performance so as to check the effectiveness of decision making processes undertaken. This is done by the help of social media and other virtual media platforms like blogging, facebook, etc. In short it tells us as to how our strategies are performing in relation to the initiatives undertaken and also it informs a manager about the taste and preferences of people.
Now a days, businesses have become more complex with many new segments and technologies, collecting data has become a biggest problem for the analysts. Consequently, the end results do not depend on only one individual channel like web analytics, website metric and social media. These have become so complex that decisions based on one parameter cannot lead to desired outcome and conclusions drawn could be wrong. What we need to do is collect data from all marketing sources and then consolidates them to evaluate the effectiveness and efficiency of your marketing strategy. A team of data scientists, data analysts and SEO’s continuously gather these data and involve themselves in a complex calculations and data crunching to find a pattern that can show a changing trend and know the consumer buying behaviour.
It tells us whether or not our marketing approach is generating sales or desired outcomes. As rightly said by Tim Ash, CEO, Site Tuners
“What gets measured gets done. If you are not tracking and improving your marketing activities, you are costing your company a lot of money”
Marketing analytics campaign is carried out through advertisement on internet, search engines and keyword search. The thinking of marketers is to target the people on internet as online world account for 60 % of revenue from sales with more and more people using internet.
Thus, with the help of marketing analytics we can understand the impact of our strategies in long run, about the competitor’s position in the market and allocating our resources in better efficient way.