OCTOBER 18, 2011 – Conducting online research panels, as well as monitoring social media and website traffic, can create vast stores of numbers and other details, but collecting all that raw data will be for naught if the company doesn’t process the information and turn it into valuable market research and analytics.
As John McTigue points out on the Inbound Marketing Agency Blog, there are a number of insights that companies can pull from advanced marketing analytics.
He gives the example of lead conversion campaigns, during which the organizations running the initiatives will often try to pull in more customers by sending emails and placing calls to action on their social media profile pages and websites. Having more information about who is viewing these messages and “how they behave within your marketing ‘space'” could make the effort even more successful, McTigue says.
To figure out what people want and why they want it, marketers can offer viewers a variety of options and track the choices they make. This can provide valuable insight on what inspires a consumer to become a customer and why they make that decision, he says – insight that can lead to a higher, faster return on investment.
McTigue notes that marketing analytics can also give advertisers details on how a consumer arrived at a website – not only the original site, but where within the platform they clicked on a link.
“This not only tells me which venue has the best opportunities for marketing, but when to post, how often and what kind of content attracts the most leads,” he says, adding that having this kind of information may also help make the marketing campaign more efficient.
He concludes that the final question a marketing research and analytics project can answer is “to what degree” the various tactics – website design, advertising, content marketing and engagement – are delivering strong results.
“With advanced marketing analytics you should be able to answer the ‘money’ question for every aspect of your inbound marketing strategy,” McTigue says.
Content marketing is one aspect of a digital advertising campaign that can prove highly effective, marketing author James Gurd told eConsultancy. He notes that many agencies are often challenged by the concept because they don’t know how to determine which channels are the most relevant to the consumers the content is targeted at.