Marketing is, and always has been, about understanding your audience and providing value. But in a digital-first world, guessing is no longer sufficient. And then we have data analytics for marketing. From finally knowing what your customers want to the ability to make the very most of every campaign dollar, data analytics is changing the game for marketing strategies across all markets.
In this post, we delve into how print-on-demand marketers can utilize data analytics to stand out from the crowd. By the end of this article, we’ll get into the most important metrics, the best tools, real-world success stories, and the trends to follow in the future so you can use this powerful asset to its fullest potential.
Explaining Important Data Analytics Metrics
To maximize the potential of data analytics, you need to first understand which top-line quantitative metrics are necessary for making informed decisions. These KPIs can be grouped into several categories, including customer behavior, campaign performance, and conversion tracking, among others. These basics are a few that every marketer should know.
Customer Acquisition Cost (CAC)
The amount that you spend to get a new customer.
It lets you know how much it costs to get a new customer — the costs can cover advertising, tools, and even salaries. The postcard can serve as a useful way to calculate your customer acquisition cost (CAC).
Lifetime Value of a User (LTV)
LTV projects how much money you’re going to make off one customer over the life of your relationship. When you combine CAC with LTV, you have a sense of whether you’re earning back from marketing investment.
Click-Through Rate (CTR)
CTR is the number of individuals clicking on a link in your email, AD, or post compared to the number who saw it. CTR is an important metric for how compelling your content is and the effectiveness of your CTAs.
Conversion Rate
The conversion rate measures the percentage of users who perform a specified action, such as making a purchase, signing up for a newsletter, or downloading a guide. Strong messaging and user-friendly experiences are often the culprits.
Social Media Engagement
Likes, shares, saves,, and comments combine to numerically articulate how your marketing sings on platforms such as Instagram, LinkedIn or Twitter.
Simply knowing what those numbers mean is only the beginning. Where the magic begins is when marketers take these tools and make sense of that data.
Marketing Data Analytics Tools
The tools you use will either make or break your analytics game. The marketplace is competitive, but there are a few that rise above for their durability, ease of use, and for what they reveal.
Google Analytics
A top tool used by marketers, Google Analytics lets you monitor website traffic, user affinities, and conversion attribution. It is critical to know how your audience engages with your site and where they lose interest.
HubSpot
HubSpot is our favorite all-in-one CRM and marketing platform for those who want it all. It provides strong data tracking, automation, and reporting to help marketers measure and optimize campaigns.
Tableau
Tableau transforms data into interactive, visual dashboards. It is a great option for people working in organizations that want to visualize data and share insights across teams.
SEMrush
For those who are looking to drive traffic through search, not just keywords, SEMrush may be your best bet. 2. Articles are great for Web traffic.
Hootsuite Analytics
Focusing on social media? Hootsuite Analytics offers a comprehensive view into content performance across channels so you can optimize your social strategy.
Perfecting this recipe of tools enables businesses to respond and adjust quickly. But what does success in data analytics look like in practice?
Featured Examples for Successful Marketing Through Data Analytics
‘Each One of Us Is on a Journey’: Coca-Cola’s Personalization at Scale
A perfect example of using data analytics to personalize is Coca-Cola. Using AI-generated data, the brand has sharpened product recommendations and individualized marketing messages across every customer, that have delivered better engagement and sales.
Spotify’s Wrapped Campaign
Wrapped is how you do data-driven marketing right, in other words. Utilizing a user’s listening behavior, Spotify provides tailored reports, resulting in a social media splash and strengthening that customer relationship.
Unilever’s Nudging Behaviors
Unilever analyzed the purchase behavior of consumers in various regions through data analytics. Based on that data, they tailored product placements, advertising strategies, and pricing models, substantially increasing profits in different markets.
Campaigns such as these ones are a testament to the endless potential when it comes to marketers and data analytics. But what of the future?
Trends to Look Out For in the Future
Data analytics for marketing trends is changing at a rapid pace.
The marketing arena is changing fast, and data analytics remains at the forefront. Here are a few trends to keep an eye on.
Predictive Analytics
Predictive tools will be utilized more by marketers to predict customer behaviors and results. This proactive approach translates into better field decisions and campaign effectiveness.
Real-Time Analytics
With real-time analytics, marketers are able to adjust campaigns on the fly. Social listening platforms already use this, but it flows out more into marketing at large.
AI Integration
Data interpretation is being taken to a new level by artificial intelligence (AI) and machine learning algorithms. Whether it’s about predicting user sentiment or dividing customers based on interest, AI is helping marketers everywhere make the best of their strategies.
Privacy-Centric Analytics
The emergence of more stringent privacy legislation like GDPR and CCPA means that focusing on ethical sourcing and use of data is no longer just the right thing to do, but becomes a business differentiator. Look for tools that emphasize first-party data strategies.
Visualizations Data for Decision Making
Data visualization will continue to improve, providing a better understanding for faster decision-making.
Master Marketing with Data
For marketers, data analytics is no longer a nice-to-have; it’s a must-have. Knowing metrics, using the right tool, and analyzing data can give you the winning edge and make your campaigns more profitable.
Those who invest in data analytics can turn the reins over to create campaigns that are truly engaging, delight customers, and make better decisions.
If you’re ready to start seeing the power of your marketing efforts in action, now is when you should begin to implement data into your decision-making. See what a difference a few other tools, such as Google Analytics or HubSpot, can make to your workflows this week.
