The Definitive Guide to Online Marketing Analytics

In the world of digital marketing, analytics is a term that’s been around for some time. However, it’s only recently that marketers have begun to truly understand its meaning and significance. Simply put, analytics is the collection and analysis of data that’s related to a marketing campaign or performance.

The purpose of collecting this data is to gain insights into how customers act, what they do, and how that affects the bottom line. Without analytics, we’re flying blind, relying on heuristics and anecdotal evidence to try and connect the dots.

Thankfully, the tide is turning. More and more businesses are realizing the power of digital analytics, and what it means for their bottom line.

The Rising Demand For Marketing Analytics

According to Statista, a worldwide market research firm, the demand for digital marketing analytics will double by 2021.

The firm predicts that 75.9 million American consumers will be using some sort of digital analytics software by 2021. That’s compared to 40.8 million in 2020. It should come as no surprise that more and more businesses are turning to analytics to gain a leg up on the competition.

What’s driving this trend? In 2022 alone, TikTok is projected to have had over 500 million users. And guess what? Many of those users are still using the app, which means they had to have been somewhat engaged with the content published thereon. This, in turn, drives home the importance of engaging with your audience through effective content and through various platforms and devices.

Analytics Will Soon Be The Norm

In the coming months and years, we will see more and more businesses utilizing digital analytics. Why? The simple answer is: because it works.

Marketers are realizing that traditional advertising tactics don’t offer the same level of guaranteed results that they get from digital marketing. And perhaps most importantly, businesses large and small can easily track the results of their campaigns and demonstrate the value of their efforts. With analytics, they can pinpoint specific goals and metrics, and then track progress and determine results.

In fact, in 2022 alone, 77% of businesses indicate that they’ll increase their digital marketing spend. The main reason? To better understand and analyze their customer base.

Top-Notch Supportive Hardware And Software

Along with an increasing demand for marketing analytics, we’re also seeing a rise in the demand for top-notch hardware and software to collect and analyze the data.

As a marketer, you’re going to need a computer or a smartphone to collect and analyze the data. Fortunately, there are a number of reputable manufacturers creating hardware and software specifically designed for the task at hand. Keep your eyes open for these products, and you’ll be able to maximize the value of your analytics efforts.

Key Insights

Now let’s take a quick look at some of the key insights that you can gain from marketing analytics. We’ll cover five of the most common applications and how you can put them to use.

Website Analytics

If you’ve ever launched a business website, you’ll know the importance of measuring their performance. After all, a poorly designed or implemented website can cripple a business’ online presence, resulting in a decrease in sales and revenue. A good web analytics tool will guide you through the process of measuring and improving your site’s performance, resulting in increased conversions and reduced web performance frustrations.

Social Media Analytics

Social media platforms such as Twitter and Instagram have exploded in popularity over the past several years. More and more businesses and brands are realizing the importance of analyzing the performance of their social media channels. With the right analytics tool, you can gain valuable information about your audience, their behavior, and what content performs best across various platforms and devices.

Productivity Analytics

Productivity tools are also on the rise. According to GAP, a global marketing and PR firm, 42% of marketers plan to invest in productivity tools in 2022.

These tools can help you manage tasks such as email campaigns and social media posts, as well as analyze and track the performance of these campaigns. What’s important is that you can also use them to analyze the performance of other marketing tactics, such as search engine optimization and content marketing. Productivity tools can also be integrated with other marketing software, such as email marketing platforms, to provide a single, central location for all your analytics.

Oberlo Analytics

Oberlo is a marketing analytics tool that can help you track the performance of your SEO driven campaigns. The tool provides you with all the metrics you need to understand the results of your efforts, including traffic, leads, and conversions. Oberlo also helps you set up automated email campaigns, and even delivers traffic to your site through their own affiliate program. The best part? The reports produced by Oberlo are incredibly easy to understand.

Because of its SEO focus, the tool can also help you identify areas in which you can better optimize your content for the term or terms you’re targeting. In addition, you can use it to track the success of different types of content, whether you’re delivering video, graphics, or text-based content.

Marketing Automation Analytics

Marketing automation tools can help you automate the collection of customer data, engage with potential customers through personalized email campaigns, and track the success of these efforts. What’s more is that you can use these tools to scale your marketing efforts and take the load off of your staff.

According to HubSpot, a marketing automation tool, 72% of businesses see significant benefits from marketing automation.

Of those businesses, 58% see a decrease in their marketing department’s workload, and 49% report that they’re able to better monitor and track the performance of their marketing programs. What’s important is that marketing automation tools allow businesses and marketers to collect and analyze data about their customers, prospects, and existing customers, which in turn allows them to grow, evolve, and improve their efforts.

These marketing analytics tools are only a small sample of the software and hardware available today. The list of vendors providing these technologies is incredibly large. Even a quick internet search will turn up numerous resources. What’s important is that you do your research and find a tool that’s not only affordable, but also has the features and functionalities you need to succeed.