Marketing Analytics – the 411 on Generating Business Leads
Posted by Ryan Nokes 6/29/09
With brazen confidence, and maybe even a note of defiance, MC Hammer responded to reporters who asked him if he felt self-conscious about being a middle-age rapper at his recent Utah concert: “I’m the guy who went to the Tokyo Dome and sold out five nights. Who’s the other rapper who sold out five nights at the Tokyo Dome? Oh, that’s right, there isn’t one.”
What makes The Hammer “too legit to quit?” Hammer spills his secret. It’s marketing analytics. Check him out on YouTube.
What Are Marketing Analytics?
Analytics is the science of making intelligent business decisions based on quantitative data. Marketing analytics applies specific analytical techniques to the marketing process.
To be of any use, collected data must be presented in such a way as to gain actionable insight. Analytic competitors use information visualization techniques to take raw data and transform it into true intelligence.
We used analytics for one of our clients, helping them not only collect the right data, but then visualize it for at-a-glance understanding.
This information highlighted that their pay-per-click campaign was costing them 70k a year for almost no return. By combining this information with other analytics, the company is now in a position to optimize its website and drive more targeted website traffic, while simultaneously reducing its costs.
Why Are Analytics So Important?
This recession has tightened everyone’s belt. Cutting costs, improving operational efficiency and maximizing marketing ROI are key ingredients to surviving these times. Wouldn’t you sleep better at night knowing that your decisions were based on facts instead of gut instinct?
With marketing analytics, it is possible – even easy – to:
• Drive targeted website traffic
• Generate business leads
• Build brand loyalty
• Optimize your website
And you can do this on a considerably reduced budget.
How Do I Use Analytics in My Organization?
The process is summarized below:
Our next few posts will take each of these steps and break them down into further detail.
With analytics, you can maximize your marketing ROI. Our goal, here at Vault Analytics, is to make your competitive position so strong that you can sing in an oh-so-satisfied way, “Can’t touch this.”