
Marketing Technology
All About Marketing Analytics Tools
By TechDogs Editorial Team

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Overview
In this article, you'll learn about the different types of Marketing Analytics Tools, why Marketing Analytics Tools are just a modern-day version of Scrooge's ghosts and why we humans simply can't be trusted when we describe how we do something.

"So, how are our marketing initiatives performing today?"
We've all been there, minding our own business, when we catch our CEO's eye. Rather than just smiling and saying hi, they dare to stop and ask you about performance. Like they run the place or something. It's worse when it happens on a Zoom call. In person, you can make your excuses and dash. On a Zoom call, you're on the spot. It usually goes something like this:
How's our marketing performance? What's our conversion rate? What are our competitors doing?
What's our share of voice? What's the forecast for Q3?
Results. Metrics. ROI. Predictions. Crystal balls.
They want marketing analytics and you should be able to answer these questions with your eyes shut. You have the data. Interpreting it is another matter.
You may be handy with numbers but math won't give you the insight to optimize your marketing channels. Gut feeling may help you pick a Kentucky Derby winner yet it doesn't identify behavioral trends.
To be the best version of your marketing self, you need tools Marketing Analytics Tools.
What Are Marketing Analytics Tools?
If you've worked in marketing for 15+ years, your early marketing data along with web analytics and reporting experiences would have been pretty basic. They probably involved spreadsheets and purpose-built dashboards, showing sales, revenue, conversion and ROI.
These reports were okay but adding other metrics or channels to them was akin to being a Mean Girl and trying to make “fetch” a thing. Not happening.
Marketing Analytics Tools are like these earlier reports on steroids. They enable you to analyze your big data, draw valuable insights into your campaign health, make predictions, spend wisely and altogether make every marketing dollar work harder and faster.
If you haven't invested in one so far, we bet you're wondering, why not? Aren't you?
What Is The History Of Marketing Analytics Tools?
Marketing has existed for millennia. With each innovation iteration - from posters to leaflets to newspapers to telemarketing to radio to cinema to television - we marketed more. The problem was we didn't care to track our marketing performance. We just wanted to sell our stuff. If we made money, happy days!
It wasn't until the 1990's that we became data - focused. Why? The web. The digital age allowed us to reach multiple audiences with targeted messages and channel mixes. We could do Cool Things and we wanted to know if they worked so we could do more Cool Things! Enter, sales attribution reporting.
The first Marketing Analytics Tools attributed all sales to the last click - the last action the customer took before buying. This was great for direct-response channels but channels that played a vital role earlier in the customer journey went unappreciated.
Last click's deficiencies soon became apparent, so we iterated and (pause for dramatic effect): multi-touch attribution. Multi-touch attribution analytics software tracked and recognized every influential digital channel. Smart, however, what about non-digital channels?
Clever buffs went away and finally came back with omnichannel reporting. Omnichannel reporting tools cover every customer touchpoint, which is essential if you want the true story of how your customer became a customer.
What Are The Different Types Of Marketing Analytics Tools?
It's a cliché because it's true: no two organizations are alike. You need the best Marketing Analytics Tools that supports your business's size, infrastructure, marketing channels, Key Performance Index aka KPIs and growth plan. Here are some types of tools you might want to consider.
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Digital Marketing Analytics Tools
Digital Marketing Analytics Tools pull your channels into one beautiful dashboard of truth. You can see what's happening across every touchpoint and adjust your marketing mix accordingly. Campaigns become better optimized, spending more efficient and the user journey more meaningful. Marketing Analytics Tools include display and search engine marketing platforms like Google Ads and social media marketing metrics like Facebook ads. Most of these web marketing tools integrate with one another to make your life easier. Ultimately, shop around, take advantage of free trials, put each tool through its paces and see which one you get on with best.
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Predictive Modeling Tools
We don't want to send our content into the wild without at least some degree of predictive success, right? Predictive analytics platform identifies trends and future customer behavior before it happens based on current customer behaviors. Less wasted marketing spends + more succinct and relevant messaging = sunshine and lollipops.
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Testing Tools
David Ogilvy, father of advertising, once said, "Never stop testing, and your advertising will never stop improving." This golden rule applies to everything you want your audience to act upon: email subject lines, headlines, sub headlines, page layouts, colors - if you can change it, do. Only if you can test it. Testing tools, or A/B tools, are the difference between hunch and fact. These solutions allow you to try out different scenarios in real-time with real customers, so you can tweak and optimize based on real results.
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Visual Behavior Tools
We humans have a funny habit of thinking we do things one way when, in fact, we behave very differently. For instance, ask Susan to tell you how she buys a sweater online and she describes a pretty linear journey: I'd go to the Menu, find Women's Clothing, Tops, then Sweaters. I'd filter by size. Find one I like. Add to cart. Bing Bang Bosh. Job done. Behavior tools track the actual actions, like eye movement, cursor movements and keystrokes. So, when Susan performs her sweater search for real, you may find her actual actions actually look more like this. Looking for the Menu. A sale! Looking for the Menu. Tops. Erm, Casual? Wait? Where am I? Menswear? Looking for Women's Wear. Still looking. Scrolling. Looking. Found it. Menu. Click. Tops. Click. Casual. Click. Looking for Sweater? Sweatshirt? Click. No. Jumper? Click. Found them. Scrolling. Click. Looks at sizes. Filters by size. Scrolling. Click. Add to cart. What a mess. Bing Bang Bosh, we think not. Thank goodness for behavior tools, right? Now you can make changes to your website that close the gap between Susan's expectations and Susan's reality.
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Event-Based Tools
Despite their fun name, you don't access event-based Marketing Analytics Tools by going to a Bruce Springsteen concert or the Superbowl. Event-based marketing tools track how a user engages with the content on your website or app. Unlike visual behavior tools that monitor non-click activity - eye gaze, linger time, cursor hovering - event-based tools detect the click. The clicks that matter to your business might be ordering a brochure, downloading a report, or adding products to the cart. The broader your business analytics tool, the easier it is for you to knit together all this lovely data analysis into an insightful customer journey based on action and intent. If you want to create personalized comms, this is how you do it. Or recruit another thousand marketing team members - your call.
What Are The Benefits Of Marketing Analytics Tools?
That's not all. Marketing Analytics Tools also enable you to:
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Segment your data
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Improve data quality
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Calculate ROI
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Execute data-driven campaigns
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Personalize
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Turn data into a strategic asset
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Improve customer engagement
What's The Future Of Marketing Analytics Tools?
Marketing Analytics Tools of the future will follow all the trends.
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Real-time Data Analytics
Channeling our sassy inner Veruca Salt, I-want-it-now culture is here to stay. Thankfully, so is Real-time Data Analytics. It allows you to see what is happening right now! However, real-time isn't always real-time. It's most of the time. Or almost real-time. We want to base marketing decisions on whole truths, not half-truths or almost truths. Real-time analytics will likely become sharper and more insightful, allowing us to act upon the data faster.
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Artificial Intelligence
Artificial Intelligence is our Hot. New. Thing. With clap emojis between each word. AI algorithms use historical data and trends to identify ROI-improving tweaks and actions. Your marketing activity will become hyper-targeted, hyper-relevant and we'll likely see more of that spooky thing where we're talking about a product and it pops up on our Instagram feed. Mind-reading marketer's incoming!
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Data On Demand
In the words of Ursula from The Little Mermaid, all I want from you is your voice. Asking for data will soon become as easy as asking Siri to call someone. No longer will you have to look at graphs and tables; you need only ask your data a question and your data will answer back.
Not Every Romeo And Juliet Story Ends In Death
Frequently Asked Questions
What Are Marketing Analytics Tools?
Marketing Analytics Tools are sophisticated platforms designed to analyze vast amounts of marketing data, providing valuable insights into campaign performance, customer behavior, and ROI (Return on Investment). Unlike earlier reporting methods, which often involved cumbersome spreadsheets and limited metrics, these tools offer comprehensive analysis capabilities, enabling marketers to optimize their strategies effectively. With Marketing Analytics Tools, businesses can make data-driven decisions, allocate resources wisely, and enhance the overall efficiency of their marketing efforts.
What Is The History Of Marketing Analytics Tools?
The evolution of Marketing Analytics Tools parallels the growth of marketing itself. Initially, marketing efforts lacked comprehensive performance tracking, focusing solely on sales outcomes. However, with the advent of digital technologies in the 1990s, the need for data-driven insights became apparent. Early tools relied on last-click attribution, attributing sales solely to the last interaction before purchase. As marketing strategies diversified, multi-touch attribution emerged, recognizing the influence of various digital channels throughout the customer journey. Eventually, omnichannel reporting tools were developed, providing a holistic view of customer interactions across all touchpoints. This progression reflects the increasing importance of data analytics in shaping marketing strategies and driving business success.
What Are The Benefits Of Marketing Analytics Tools?
Marketing Analytics Tools offer a multitude of benefits for businesses seeking to optimize their marketing efforts. These tools enable organizations to analyze past performance, gain insights into current trends, and make informed decisions about future strategies. By segmenting data and improving data quality, businesses can target their marketing initiatives more effectively and calculate ROI accurately. Moreover, Marketing Analytics Tools empower organizations to execute data-driven campaigns, personalize customer experiences, and improve overall engagement. However, it's essential to recognize that realizing these benefits requires careful selection of the right tools and proactive utilization of the insights they provide.
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