Analytics – Why my last blog failed?

Well. This is not my first venture in blogging. I had previously started it in 2015 and yes, it was bad. But who knew at that time? I kept on posting content about random movies, reviews, and emotions, without ever realizing and asking myself one basic question: Is anyone even reading my blog?

From there on, started a series of questions – the answers of which I didn’t know it back then. Do people even like your content? Do you have any idea about how much visits are your articles having? Are you even writing articles keeping in mind an audience, or are you just posting random stuff? Do you know who your customers are? And there were more.

Eventually, it failed and has been inactive since 2016. But it taught me lessons. And it taught me about Marketing Analytics & its importance.

We are in 2020 now, and with vast amounts of data, it has become increasingly important to have knowledge about and know how to implement analytics in marketing.

So, what exactly is marketing analytics?

Think about ROI (Return on Investment). Then think about all the details related to your marketing and other activities. Now find a relation between them, and you’ll know what is marketing analytics.

You have some data related to your website or mobile app. To measure what is affecting your ROI the most is a practice known as marketing analytics. The focus should always be on maximising ROI.

Your business may have multiple marketing channels. Collect data from each one of them, track and analyse them. Bingo! You are doing marketing analytics now!

‘Measuring and analysing data & metrics to understand the impact of your marketing activities, maximize ROI and identify areas of improvement’ – as stated by martechadvisor.com.

Marketing analytics is not just a single standalone topic. It covers a vast area and tracks almost everything related to your website or business. Or for that matter, it even keeps track of your online presence. Be it for SEO (Search Engine Optimization – more on this in a separate article), for Web, or for social media, having analytics tools and metrics defined helps businesses.

But. Why is it needed?

Remember the questions which I received previously? Marketing analytics answers all those questions.

It allows you to monitor your cash flow, where is the money going, how are the customers/audience using your business/website, help you in gathering information about which of your programs were a success and which failed. It also allows you to forecast future trends, helping you to plan well in advance for the future. Above all, it helps you identify your target audience even before you start a business.

One big lesson – you should start incorporating yourself in analytics right from the start of your business. In some cases, even before that.

Let me now tell you the difference between a dimension and a metric.

Difference between dimensions & metrics

Have you ever wondered how has the customer actually landed to the website, and completed the purchase or used the service? Ordering through Amazon or a Flipkart has become common for us, but do we realize how have we landed to THAT specific page in the site or app?

Customers come across multiple touch points in their buying journey (for the buying process, read our article on Selling vs Buying Process). For marketers, it is quite difficult to exactly track from where the customer has landed. This difficulty is solved by the concept of marketing attribution – which simply means ‘Who do we attribute the customer’s arrival to?’ They reveal which are the touch points which led to the sale and revenue of the business.

Since marketing analytics covers a vast area, there are numerous tools which are used to fulfil these operations. I have divided marketing analytics into different categories – Content, Web, SEO, Social Media – and have listed out certain tools which are popular in each of these.

Analytics tools used in different categories

The list is not exhaustive, because the domain is really vast. Leave your thoughts about this in the comments section below and I can probably come up with more categories.

To measure your results, you need certain metrics to quantify them. In marketing – being a very vast domain – metrics have also been categorized based on the area of analysis. There will be a separate article on analytics metrics going ahead. But for now, I am going to list out those categories only.

  1. Foundational Metrics
  2. SEO Metrics
  3. Paid Ad Metrics
  4. Blogging Metrics
  5. Social Media Metrics, and more.

Going ahead in marketing analytics, we’ll bring you articles about different models and explain to you about the various metrics as well as for analytics tools. Till then, try to find out more about these metrics and leave your thoughts in the comments.

Also, don’t forget to list your thoughts about the different categories of tools, as I had asked you before!

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