Marketing Analytics and The Modern Marketer

Watching your analytics closely will lead to more conversions.

The reality today is that data is an extremely important component of an overall B2B marketing strategy. It not only allows you to understand the user behavior but also helps to implement tactics to generate more business for the brand. Different brands have different reasons to trust and utilize data.

• A recent study by Econsultancy revealed that 38% of B2B companies are using data to get insights on consumer behaviors so they can improve customer experiences.
• About 26% of them said that they read data so that they can increase the ROI of the marketing and sales budget.

Marketing analytics benefits both marketers and consumers. The analysis allows the modern marketer to achieve higher ROI on marketing investments by understanding what is successful in driving conversions and brand awareness. Besides, analytics also ensures that customers see a greater number of targeted, personalized ads that cater to their specific needs and interests.

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Analysis of marketing data

A modern marketer can analyze marketing data based on various models and methods depending on the KPI to be measured. Some popular analytics models are:

• Media Mix Models
• Multi-touch Attribution
• Unified Marketing Measurement

Importance of analytics in Modern Marketing Landscape

In the modern marketing landscape, analytics has become more popular than ever. As consumers have become dependent on choosing the branded media they like to engage with, brands need to catch their attention. To achieve the goals, brands must rely on analytics to create targeted personal ads based on consumers’ interests rather than trusting broader demographic elements.

Doing this allows marketing teams to serve the right ads at the right time through the right channel.

Top analytics companies can engage in

1. Descriptive Analytics

Gartner defined descriptive analysis as the examination of content or data, which is manually performed to answer the question, “what happened?” The common techniques used are business intelligence and visualizations.

2. Predictive Analytics

It is a form of advanced analytics examining data or content to answer, “what is going to happen?” or precisely, “what is likely to happen?” The answers are found with the help of techniques such as forecasting, regression analysis, and predictive modeling.

3. Prescriptive Analytics

It is also a form of advanced analytics that examines data or content to answer the question, “what must be done?” The common techniques used are simulation, complex event processing, and recommendation engines.

Of course, there are challenges in dealing with B2B marketing analytics and to deal with these challenges, we have the following marketing analytics tools. Let us check them out:

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1. HubSpot Marketing Hub

HubSpot has everything a modern marketer needs to run inbound B2B marketing campaigns. HubSpot’s Marketing Hub is one of the five core products HubSpot offers.

HubSpot Marketing Hub’s primary feature is the Marketing analytics & dashboard software. It comes with built-in analytics capabilities, reports, and a user-friendly dashboard. Overall, it is a one-stop solution for measuring the performance of all marketing campaigns.

The top analytics features of the tool are customer tracking, website metrics, and marketing channel reports.

2. Salesforce Pardot

Pardot by Salesforce is one of the best B2B marketing automation software and customer relationship management tools. If you aim to create meaningful connections with your customers by generating more customers in the sales pipelines, Pardot is the tool for you.

Pardot comes with built-in advanced analytics to provide insights into your marketing campaign. Modern marketers can explore data and quickly take data-driven actions.

Key features of the tool are:

• Personalized dashboards.
• Creating custom views of various granular aspects of customer data.
• Instant sharing of campaign insights, and more.

3. Tableau

Tableau is another popular data-driven visual analytics engine making complex data comprehensible by simple visualization. The tool can help marketers study marketing analytics of different B2B campaigns with the help of interactive visual analytics such as graphs and dashboards. Modern marketers can easily visualize their data by the drag and drop feature without any need for scripting.

Tableau makes analytics jobs easy for non-technical analysts. The key B2B marketing analytics features offered by Tableau are:

• KPI dashboard
• Marketing campaign activity calendar
• Advanced visual charts such as pie charts, Gantt charts, bullet charts, boxplot, and much more.
• Live and in-memory data.
• Self-service analytics such as trend lines and predictive analysis.

Final Word

B2B marketing campaigns will not be successful just on gut feeling and guesswork. Even the assumptions of expert marketers are not enough. To achieve concrete results, every modern marketer needs to leverage hard-set data that shows you the reality without a shadow of a doubt.

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