Why Are Marketing Analytics Important?
Why is it important for website owners and business owners to keep up to date on their marketing analytic results? Marketing analytics make up rough data that can be used to improve the way a business or websites uses marketing and advertising to reach its target audience. Below are a couple of different ways that business and website owners can use their analytics results to improve the marketing strategies.
Find Out What Advertisements Work
When checking social media marketing or other marketing analytics, website/social media managers can usually check how many times an advertisement has been viewed and clicked on. Some results will even show the ratio between these two numbers. The higher the ratio is, the better the results are.
Once website/social media managers have this raw data, they can use it to make better advertisements. Use the advertisements that have the highest interaction rates to make templates for new advertisements. Basically, find out what works and what doesn’t. This can help to improve the chances that a higher percentage of your advertisements will be clicked on.
Compare With the Competition
Did you know that some websites will allow you to compare your raw data to the data of your competitors? Based on what website you choose, the site can compare data for social media, SEO, and more statistics. Some of the best free and paid websites for this are listed below.
- Sprout Social
See What Events People Like
Sometimes business and website owners will put on events to bring attention to their business or website. However, how are they supposed to know how successful these events are? Checking for a keyword, tag, and hashtag analytics on social media websites can be useful. Generally, the more strongly people feel about an event, the more they will post on social media about it. However, it is important to look through these posts carefully. People are just as likely to post negative feelings about an event as they are to post positive feelings. Once you sort the posts into negative and positive columns and compare them to how many people showed up to the event, you can figure out how many people liked the event, how many people disliked the event, and how many people didn’t feel strongly enough either way to post about it.
Marketing can be messy, but making sense of the raw data can help to clean things up a bit. Use your data to find ways to improve your business or website.