The Power of Marketing Analytics
Marketing, as a concept, is only as strong as its return. Therefore, no matter how powerful a marketing campaign or strategy is, if it doesn’t bring in a return on investment in the form of actual, tangible revenue, it’s not as valuable as it should be, plain and simple.
Human creativity and concepting is key to developing powerful and impactful marketing strategies with long-lasting ROI results. However, the ability to harness interpretation alongside human understanding of those data points—can majorly boost revenue and impact sales numbers.
To start, take a look at CallRevu’s eBook, A Dealer’s Guide to Google Analytics 4. In our free-to-download guide, CallRevu’s experts explain how to use the essential GA4 metrics. Including tacking customer acquisition cost and success as well as engagement indicators to ensure the biggest online footprint and impact; even further, how to implement conversion optimization to increase customer loyalty and increase sales efficiency. Although it doesn’t stop there! There are so many micro- and macro-benefits to fully understanding and working with marketing analytics like GA4, it’s worth the time and investment to study and train staff.
How Analytics Gives Insights to Buying Behavior
Simply put, explains firm dun & bradstreet, “Marketing analytics empower teams to leverage data points about their prospects and the journey they take throughout the selling process in order to help improve the effectiveness of their go-to-market activities while maximizing their ROI.” And—say it with us now—ROI is what it’s all about.
Marketing, after all, is the effort to connect with consumers in the right way in order to not just pique interest, but to take new relationships with consumers and turn them into ongoing relationships with customers. “By focusing on the correct data points and leveraging the appropriate marketing analytics tools,” explains d&b, “teams have insight into their ideal prospects which can help them reach the right contact at the right time with the right message.“
A blog on The Smarketers, specifically explains that there are certain key metrics that should not be overlooked. These are things like conversion rate, bounce rate, click-through rate, cost-per-click, return on advertising spend, customer acquisition cost, and customer lifetime value. Once understood, these—and other—marketing analytics can help with a wide range of categories, including data-driven decision making, lead prospecting, campaign performance monitoring, demand forecasting, advertising cost effectiveness, and, of course, consumer experience.
Implementing Analytics to Benefit User Experience
Just like AI can infuse customer service teams with the ability to hyper-personalize and improve each and every interaction that takes place, marketing analytics can help personalize the pre-sale process, d&b continues. “[Marketing analytics] also pulls valuable prospect data together for a more complete view of the buyer’s journey which in turn eliminates guesswork and helps teams create a more personalized, successful approach.”
After all, marketing brings customers in, and customer service ensures continued loyalty, so it only tracks that proper analytics should be equally employed from start to finish of a given consumer-turned-customer’s experience. And with an omnichannel strategy that aims at a smooth experience across all platforms for new and existing customers, those same customers will more than likely expect, and perhaps even demand, a similarly even experience interacting with the brand’s identity and messaging, in the form of marketing. Consistency, personalization, and an understanding of how best to accomplish these goals will get your dealership there, from first marketing to consumers to then nurturing customer relationships.
Login