All the data you’re collecting from your marketing efforts can be analyzed to ensure you’re getting the right return on your marketing investment. Those insights can make your marketing more efficient and effective.
This week, I’ve collected some articles that look at marketing analytics and what new technologies mean for marketing departments.
Do Marketers Need to Become Data Scientists? AdWeek/Social Times: “As social media becomes a bigger part of marketing strategies, marketers are looking for ways to validate the investment. This means using the data from social campaigns to drive and optimize campaign performance. However, the challenge is figuring out which bits of data are the most important and how to leverage that data to impact the bottom line.”
Marketing vs. IT: Data Governance Bridges the Gap. Information Management: “At the center of most of these debates is the marketing organization. Marketers stand to gain the most by proving they are not just a cost center, but a critical growth engine of the company. One of the hottest phrases in marketing today is data-driven, which is defined commonly as ‘acquiring, analyzing and applying information about customer and consumer wants, needs, context, behavior and motivations.’ To become data driven, marketers typically use the most standalone tools automation, content distribution, social media, search engine optimization, etc. and require the most amount of data manipulation if they want to truly analyze, report and improve on our contribution and value.”
The Best Digital Advertising Always Taps Human Creativity. Ad Exchanger: “Predictive analytics moved this idea forward by using descriptive data to form hypotheses about what might happen. It takes what might happen and provides actionable insights and recommendations based on likely outcomes. Think of it as A/B testing but with insights provided before you hit publish or send. This type of data analytics has many different applications and is already being used in direct marketing channels, such as email. Some brands and agencies are also adding data scientists to their marketing teams to help wade through, model and apply their flood of real-time data to business objectives.”
Big Data and Marketing Analytics: How Does it Help Sales? Business2Community: “Keeping an eye on the specific targets selected, and using the focused insights provided by Marketing, sales people can learn how to reach buyers online in social media and offline in the real world with relevant information at each step of the buyer’s journey. Be sure to establish a baseline against which to measure and celebrate results to begin molding your organization into one that values B2B marketing technology.”
Marketers and Analytics Sitting in a Tree, K-I-S-S-I-N-G. Direct Marketing News: “[A]lmost all marketers find the use of analytics to be a boon. That’s according to a survey from webinar marketing solutions provider ON24. In fact, 97 percent of marketing respondents say that the use of analytics has behooved their company, and 87 percent say they plan to increase their marketing analytics spend this year. Also, more than half (56 percent) of survey respondents say that marketing analytics tools enable them to make more strategic decisions.”