Inside Insight // Analytics in Marketing
Businesses today understand their customers well enough to guide their marketing decisions, do you?
Hi! I’m Juan Lopez and I’m an Intern here at Compass Marketing and Consulting, and on today’s Inside Insight we’re going to be talking about the need for analytics in marketing.
In today’s digital age analytics provides valuable insight that can help you shape your marketing strategy. Whether you own a small online store or operate a local thrift shop, analytics allows you to understand whether your business is addressing your customers’ needs. When developing content, you always run into the question “how can we decide which version will produce better results?” And the answer is, we don’t know. Leveraging the analytical capabilities offered by a platform such as Facebook or Google will allow you to test multiple versions of your content and determine which form will deliver the best result.
Test your assumptions. Using a tool like Google analytics on your website can help you break down your target audience by demographic and even purchase infinities. Analytics will help you understand if your customers’ behavior appeals to your business. If you know your audience well enough, your marketing can only get better. By using an analytics platform, you can track your progress historically as well as compare metrics to others in your industry. This will help you understand where you stand amongst your competitors. At the end of the day, you want to get an edge over your competition. You got to study and understand your customers so you can drive, measure, and capture value for your business.