Tracking numbers can feel pointless and nitpicky, but marketing analytics are key to a successful campaign.
Let’s face it: Most marketing professionals don’t really want to spend their day with their nose in a calculator. Besides, many modern marketing tactics, like influencer campaigns or content marketing, can feel hard to measure. But tracking marketing analytics can mean the difference between a successful campaign and a total failure.
Marketing analytics measure the impact between certain actions your company has taken and whether or not leads become customers. They’re basically a road map to teach your business how to make the most money. When phrased that way, it’s easy to see why your marketing analytics are so important and need to be tracked carefully.
Here are a few reasons marketing analytics still matter:
- They help you save time: When you understand what’s working, you know where to put your energy. So if your e-mail funnel is leading tons of leads to become paying customers, you know that taking the time to write effective, nurturing e-mails is something that will pay off in the long run. There are only 24 hours in a day, and by knowing your numbers, your marketing team can spend those hours as efficiently as possible.
- They help you cut costs: Spending money on Facebook ads that aren’t converting? When you track your marketing analytics, it’s easy to make the decision to stop investing in a certain area because you know it isn’t proving to be effective. No matter how large your budget is, most businesses still want to be good stewards of their finances, and throwing a bunch of money at marketing tactics that aren’t working isn’t going to be useful.
- They help you build brand awareness: By knowing where your clients spend their time, you can market to them much more effectively. For instance, if your target audience is preteens, you might consider creating a YouTube channel to help build brand awareness and increase your name recognition. But if your target audience is over the age of 60, Facebook or print magazines might be the way to go. But you can’t make these types of decisions without knowing your numbers—who your audience is and how many hours a day they spend within different media platforms.
Trying to run a marketing department without proper analytics is like trying to drive in the dark without a map. But by knowing and understanding your numbers, you’ll be able to make the best possible decisions for your business.