Marketing analytics and monitoring your brand’s marketing presence can seem overwhelming. There are so many different metrics to track, it can be hard to know what is significant and from which data sets you can draw actionable conclusions. To some degree this will vary by brand and campaign, but overall, there are three key things that you want to accomplish when looking through your analytics.
- Gain insight on marketing campaign efforts and impact
If you’re going to invest time, resources and spend into a marketing campaign, you’ll want to know how it’s performing. Analytics can help you gain insights into the impact of your marketing campaigns. Some data points to review are:
- Followers – This tells you how many people are following, and if you’ve gained or lost people interested in your brand.
- Engagement – Of your followers, how many are actually paying attention to what you’re posting and interacting with your brand. Engagement can include things such as likes, comments, shares and click-throughs.
- ROI – This stands for return on investment. If you’ve spent marketing dollars, you’ll want to know how many sales you’ve received from those placements and how much securing those specific sales cost. You can track ROI for a variety of PR and marketing efforts including traditional placements, social media ads and content, email campaigns and influencer campaigns.
- Learn more about your audience
At the end of the day, the whole point of marketing is to connect with your audience and build an authentic relationship with them. You can use analytics to gain insights into your target market and see which posts speak to different groups within your audience. Some data points you can review are:
- Demographics – Everything from age, gender, location and sometimes even interests are available for review. It’s important to know to whom you are speaking so that you can create valuable content that earns their engagement.
- Performance by segment – While this also ties into our first set of analytics, you can take it a step further and see which content performs better for which target group. While it’s hard to segment your social media posts, it can be easier to divide up your target audience into groups for marketing efforts such as social media advertising and email marketing. This will allow you to create personalized marketing content for each subsect of your target audience.
- Make better campaign decisions
Now that you’ve had a chance to review some of your basic marketing analytics, it’s time to put them to work! What insights can you draw from the data. Are you gaining followers? Do some types of posts receive more engagement than others? Are you seeing a growing demographic that may have been unexpected for your brand? All of these can help you gain insights into your campaigns and draw actionable conclusions.
While the plethora of analytics available can seem overwhelming, if you stop to consider what will help you gain insights into these three key areas, you can find some that will stand out. Monitoring performance is an important part of any marketing campaign so that you can get an idea of what is working, what isn’t and where you can adjust.
If you need help analyzing your brand’s marketing performance and gaining key insights, contact us!