The Strategic Importance of Data Analytics in an Online Marketing Campaign
Marketing campaigns consist of a variety of components that must function cooperatively to ensure the success of a campaign. However, one of the most important factors, yet is most often overlooked, for managing a successful online marketing campaign is collecting and managing the data that results from a marketing campaign’s activities. Many marketing managers understand that the laborious process of implementing data tracking tools and managing retargeting efforts, while simultaneously understanding the analytics associated with each tier of the online marketing campaign can be a very time consuming and tedious task.
From a strategic perspective, online marketing initiatives can be substantially enhanced with the use of data analytics, data tracking, and retargeting campaigns when utilizing a number of sophisticated tools. These tools can be used to provide powerful insights into what combination of online marketing strategies work most effectively. To help with the implementation of these tools, an unbiased, outsourced online marketing consultancy is a viable solution that can help companies improve their understanding of data analytics and tracking. Such a resource will help your marketing team to more easily conduct data analysis on online marketing strategies that will provide the insights needed to optimize conversion ratings and increase the campaign’s ROI.
Many companies are now starting to achieve excellent results with data analytics based marketing campaigns. The following statistics gathered from a variety of sources highlight the success many companies have achieved to date. Notably, as Data Analytics tools continue to evolve, better results that can be expected when companies successfully implement Inbound Marketing, Content Marketing, and Social Media marketing campaigns that are based on a data analytics foundation.
61% of global Internet users research products online. (http://www.hubspot.com/marketing-statistics)
50% of all mobile searches are conducted in hopes of finding local results, and 61% of those searches result in a purchase. (Search Engine Watch)
Businesses with websites of 401-1000 pages get 6x more leads than those with 51-100 pages. (HubSpot, 2011)
Marketers who have prioritized blogging are 13x more likely to enjoy positive ROI, and 82% of marketers who blog daily acquired a customer using their blog. (HubSpot, 2014)
71% of B2B marketers use content marketing to generate leads. (MarketingProfs)
96% of social media managers measure number of fans and followers, 89% measure traffic, 84% measure mentions, 55% track share of voice, and 51% track sentiment. (Awareness, Inc.)
People are more likely to visit a B2B tech company’s website after seeing a tweet from the company, getting them one step closer to becoming a lead. (KoMarketing Associates)
Companies with mature lead generation and management practices have a 9.3% higher sales quota achievement rate. (CSO Insights)
25% of marketers who adopt mature lead management processes report that sales teams contact prospects within one day. Only 10% of marketers report the same follow-up time without mature lead management processes. (http://blog.hubspot.com/blog/tabid/6307/bid/30901/30-Thought-Provoking-Lead-Nurturing-Stats-You-Can-t-Ignore.aspx)
Businesses that use marketing automation to nurture prospects experience a 451% increase in qualified leads. (The Annuitas Group)
Users who are retargeted to are 70% more likely to convert. (TrueShip)
Retargeted ads have the potential to increase branded search exposure by more than 1,000%. (TrueShip)
The statistics are impressive and indicate how valuable tracking and assessing data can be for your company’s marketing initiatives. And, data will become increasingly more important as new tools evolve and your customers become more discriminating.
Implementing an effective strategic online marketing campaign now requires the use of data analytics and data tracking tools. Data analytics can help companies better understand their intended consumer base, while also providing powerful insights into what combination of online marketing strategies work most effectively. The downside of data analytics is that it takes time to review and understand these important figures. Unfortunately too many companies forgo data analytics on their online marketing campaigns and as a result become disappointed in the outcome of their campaigns.
At each step in a digital marketing process, understanding data analytics and tracking is crucial to the success of an online marketing campaign. To remain competitive a company’s internal marketing team must be in tune with these latest tools and technologies, and, absent this, your company can quickly fall behind and lose customers to the Inbound methodologies. Alternatively, consider engaging the services of an online marketing firm experienced with inbound marketing methodologies who is uniquely positioned to apply data analytics, data tracking, and retargeting to your company’s online marketing initiatives.