Marketing Research Analytics: Why, Where, and When?
Business analysis is a crucial component of any marketing strategy aimed to increase sales and improve the company’s reputation. The research should begin by identifying key indicators to be studied, and the connections between them. The whole process is complicated enough and you have to do more than simply set goals in Google Analytics or any other metrics service. It is a complex and systematic approach that requires time, patience and professional skills from the researcher. Such investigations give clear answers to specific business questions and help to find solutions for business growth.
Let’s find out the most evident benefits of marketing analytics because it allows you to:
- Monitor new marketing trends. If you regularly check and control your business revenue, you know about all the latest marketing news and approaches. You can compare your business strategies with marketing techniques your competitors implement, make notes, draw conclusions, and successfully use these strategies for your business development.
- Identify which programs work and why. For example, if you use newsletters to promote the company, making email marketing analytics would be a great opportunity to determine the effectiveness of such a campaign. See the number of users who opened your setter, which emails are spammed and which letters were deleted immediately. This information is crucially important and helps you to understand whether this marketing strategy works or not.
- Keep an eye on the effectiveness of promos during a certain period. Have you launched advertising on social media? Why not control the process via analytics services? Accurate and relevant reports are guaranteed.
- Understand the ROI of every marketing campaign. ROI or return on investment indicator measures income related to a specific investment. Such measures must be considered for almost every investment, including advertising. For marketing actions, there is another name - ROMI or Return On Marketing Investment. You can calculate this indicator with the help of Google Analytics, Google Sheets or OWOX BI Smart Data.
- Predict results. Marketing analytics allows business owners to calculate the Customer Lifetime Value (CLV), determine future earnings, and develop the optimal suggestions based on the received data on user behavior on the website. You can also develop a marketing plan and predict sales for the next quarter, year, etc.
With marketing analytics, you will find the answers to many questions. Are your current marketing initiatives successful? What is your future perspective? What actions should you perform to improve business indicators? What are your competitor’s positions? Are you devoting time and money to the right channels? How should you prioritize investments for next year?
Intelteck - the Marketing Analytics Company
That Helps Stop looking for optimal solutions for brand development. Intelteck is a modern digital company providing quality marketing analytics consulting for online business owners. We have considerable experience in the digital market and know how to encourage clients and enhance the company’s revenue. Delegate your business development to our team of experts and we will take care of all the strategic and operational processes of digital marketing for your business. We know how to collect quality and relevant analytical data of your business, build an effective online marketing system, and by the same token bring your company considerable financial profit.
Cooperation with Intelteck it’s not only about data analysis and business promotion. We provide our customers with detailed and step-by-step marketing strategies and recommendations of leading experts.
Want to get more potential customers and increase sales - cooperate with Intelteck. Cooperate with professionals!