Digital marketing analytics is having the right data in hand, analysing it and using it effectively to change your business game.
The world of business has evolved and so has marketing. There is a gamut of data to work with and unless it is analysed and used effectively there are going to be unpleasant surprises and elusive results.
But whenever marketers hear the term, ‘Digital Analytics’ they immediately associate it with the most basic Digital analytics tool, Google Analytics that provides information on traffic, bounce rate etc. for their website. Yes, Web Analytics gives a treasure of website data, but what is needed is richer data. That data comes from social media, emails & organic search and that is what Digital marketing analytics covers.
Digital marketing analytics is the oil on which the contemporary marketing machinery runs and that is regardless of the business you own. It helps you track and analyse your data, providing you with the vision of where you’re going and if it’s going to pay off or no.
How?
Fact #1
Benefits of Digital marketing analytics
- You get an opportunity to reach out to the global market with little investment.
- You can track your results to determine the effectiveness of your marketing efforts.
- You can build on your customer database, personalise your approach towards your visitors and build better relationships with market segmentation.
- There is greater conversion rate.
So far so good. There is however one disturbing fact. Most marketers enter the world of Digital Analytics, but not all of them have the right approach. The below mentioned statistics according to the website ‘conversionsXL’ say it all.
- Only 2% of companies are tracking lead generation to sales metrics.
- 15% of companies don’t track ROI (Return on Investment)
- 1 in 4 companies are depending on ‘manager judgements’ to make decisions.
- 25% of all marketing teams can’t even figure out how to add data into consideration during the decision-making process.
Without the proper ability to analyse and optimize, Digital marketing Analytics cannot take you far. These are the metrics a marketer like you has to be mindful of.
Fact #2
How to measure Digital Analytics
Measuring analytics accurately saves your time and efforts. Only if you measure correctly, will you know which campaigns are performing and how to sharpen them to achieve your goals.
Have you heard of the Analytics value chain?
We love how Judah Philips, a data and analytics entrepreneur from Boston, provides broad steps to measure Digital marketing analytics through this chain.
You can measure Digital Analytics through the following conversions
- Online sales
- Store sales
- Leads coming in through website forms
- Leads from phone calls
- Through the website- i.e. Visits, page views, time spent on pages and bounce rate.
Fact #3
Tools to measure Digital Analytics
Google Analytics
Google Analytics helps you monitor analytics related to your website. Once you incorporate a code given by Google Analytics into your website, you are good to go to track traffic on your website and formulate your promotional strategy. GA includes, Google Alerts, Google Webmaster tools and Google AdWords.
If you are in a process of switching over to ga 360 and wondering if you want to opt for Google AdSense as a partner, we suggest you read our articles first.
We also have some in depth information on how to leverage user ID , segment data and achieve benchmarking effectively in Google Analytics.
You name it and we have it.
Facebook Power Editor
This tool enables you to run, monitor and fine tune paid ad campaigns depending on their performance.
Twitter Analytics
Twitter Analytics is all about how your tweets are doing and figuring out which ones work for you.
We have some valuable information for you here for digging into your tweets.
Instagram Analytics
The insight section in the Instagram business profile gives you a peep into metrics such as the reach, impressions and the amount of engagement.
Social Mention
You can use this tool to research your topics and the keywords.
Simply Measured
This tool lets you access several free analytics reports that include user analysis, company page analysis and website analysis.
Parameters to measure Digital marketing analytics depend on the platform you are using to obtain your data and your marketing goals.
For e.g. In Google Analytics it’s about measuring the traffic on your website, its source, type of visitors, their average session duration and time they spend on each page.
In Twitter Analytics you need to gauge the reach, the amount of views and the level of engagement.
Fact #5
Proven tactics that you can use to your advantage in Digital marketing analytics.
- Understand what Digital Analytics is- Analytics is not only about charts, graphs and reports for the sake of getting results. It’s about analysing these visual representations to identify the gaps in performance and formulating a sound strategy that works.
- Setting the right KPIs and metrics- That track profits effectively and have strategic value for your organisation.Some of the best Digital marketing KPIs are-web traffic sources, brand awareness, lead conversion rates, click through rates, website traffic rates, customer lifetime value and online conversion rates.
- Define your targets well- by clearly understanding what your success and failure indicators are.
- Learn how to present your data- Firstly have a simple and easy to comprehend dashboard and secondly, ensure your data narrates a story about results and is not just a scattered collection of reports from various sources.
- Concentrate on the entire journey from lead to conversion and track your actual customer journey for advanced data segmentation and understanding customer behaviour.
- Keep an eye on what your competitors are doing. Effective competitor analysis goes a long way to firmly establish your brand in the market.
Let’s face it analysing data and gaining insights is more important than just accumulating scores of data. We have given you a basic understanding of Digital marketing analytics and have run you through the various Digital Analytical tools. But this is just the tip of the iceberg.
With Nabler’s Data Lake and Data Pipe, you can get your very own window seat to an integrated view of customer data. You can combine data sources for easy analysis, get a single view of the customer, add & delete data sources easily, and make your data a lot more reliable.
- With Campaign Analytics:
You can view and absorb information easily- This lets your team connect the dots between multi-dimensional data to make better decisions.
- Ad Operations:
Influence your ad revenue and campaign yield positively by squeezing more efficiency out of ad ops technology.
- Report Automation:
The complexity and overwhelming volume of data generated by today’s near-infinite data sources requires Report Automation practices that are scalable and sustainable. With Barracuda, our ML-based data automation platform, we have managed to reduce the effort hours involved in repetitive reporting tasks by nearly 70%.
For more information please visit – our website or write to us at support@nabler.com
There is a whole world out there for you to explore in the realm of Digital Analytics that is beyond Web Analytics. Measure your Digital Marketing analytics correctly, useDigital Analytics tools, like Google Analytics, Twitter Analytics and Instagram Analytics optimally and reinvent your marketing game.
Fact #4
The time you need for Digital marketing analytics
Data can be incorrectly accumulated and analysed, and companies can land up paying a big price for it. Analytics brings a level of transparency and accountability to the table and for that setting aside a couple of hours is a wise investment.
It’s a 3-step process which requires not more than a couple of hours.
- Set-up and configure the tool.
- Monitor it.
- Continue your research and keep learning how to use the tools optimally
Implementation Audit in Data Analytics
Get a comprehensive review of the quality of your data, implementation of your tracking codes, and the configuration of all your tools. Sit back while we do a health check of your website, deep dive into your data layer, do a detailed assessment of resources that are broken, and give recommendations in a Site Architecture Audit report that will serve as a schema for the Implementation process. We can also configure your Google Analytics with custom dimensions and help you take a holistic view of your analytics data, affording you greater visibility on important website metrics and areas for improvement.
Nabler is always ready to help with Data Analytics
We can help you make advanced data driven decisions with our suite of data products and solutions.
Implementation Audit in Data Analytics
Get a comprehensive review of the quality of your data, implementation of your tracking codes, and the configuration of all your tools. Sit back while we do a health check of your website, deep dive into your data layer, do a detailed assessment of resources that are broken, and give recommendations in a Site Architecture Audit report that will serve as a schema for the Implementation process. We can also configure your Google Analytics with custom dimensions and help you take a holistic view of your analytics data, affording you greater visibility on important website metrics and areas for improvement.
Tag Implementation in Data Analytics
Our reliable Tag Management System gives you the freedom to add, modify or remove tags whenever necessary, reduce maintenance overheads across the board, and easily integrate third-party software into all your digital properties. You can also easily migrate from one tool to another without having to worry about losing historical data. And optimize your time, spend and effort by leveraging the tech stack to enable offline-online integration, and add value to your day-to-day operations.
Data Lake & Data Pipe
Get your very own window seat to an integrated view of customer data. Combine data sources for easy analysis, get a single view of the customer, add and delete data sources easily, and make your data a lot more reliable with a centralized data lake.
The ultimate guide to answer all your queries on Data Governance
To sign off, Data Quality and Data Management are extremely crucial quality control mechanisms for your data. Invest well.