B2C Marketing Analytics for Beginners

What is Marketing Analytics?

Marketing analytics is the practice of collecting, managing and processing data to provide the information needed for marketers to optimize their impact.

Typical Applications of Marketing Analytics

Measure Performance of Marketing Campaigns and Marketing Strategy

The most fundamental application of marketing analytics is to provide marketers with the tools to measure the business impact of their individual marketing campaigns and of their overall marketing strategy. This task can range from something as straightforward as providing standard metrics (click-through rate, number of conversions, ROI, etc..) at the campaign level to an analysis as complex as developing a Market Mix Model to come up with the optimal marketing strategy to maximize returns.

Find Opportunities in Marketing Performance

While marketing performance analytics will let you know on the whole how a campaign performs, it doesn’t necessarily tell you how to improve it. It isn’t until someone digs into the data that you can uncover where the opportunity is – perhaps certain types of users respond better to a particular marketing treatment, or some campaigns are more effective with a specific market or on a specific device.

Understand Your Customers

Diving deep into customer demographics and behaviors can help you understand your audience. This information can then be used by marketers when selecting strategies, placements, and messaging. Through data mining and statistical modeling, marketing analysts can provide a rich understanding of your customers and what drives success.

Understand Your Competition

Market research is often within the domain of marketing analytics and can help marketers understand the competition better and adjust their strategy accordingly.

Course: B2C Marketing Analytics for Beginners

This course will cover the first two applications – measuring performance of campaigns and strategy as well as finding opportunities to improve performance – for typical B2C companies.

Conclusion

Marketing analytics provides insights that allows a marketing team to work more efficiently and to have a bigger impact on the business.