If you’re devising new strategies to boost your business, there’s one component you need to consider implementing – marketing analytics. To achieve this, you need the right analytics tool that offers accurate and crucial data, to give you extensive insight into your marketing performance.
In this article, you’ll learn what marketing analytics is, as well as what tool is perfect for the job, and how it can benefit you.
Read on to find out more.
What is marketing analytics?
Marketing analytics provides you with insights into your marketing performance, and can span across a variety of different elements within it. In order to achieve the most effective marketing approach, you need to ensure you can monitor, adjust, and refine every area. Marketing analytics is the core step in this process.
There are different forms of data that can be revealed through marketing analytics tools. However, this will depend on the types of tools you incorporate.
For example, if you wanted the widest range of useful analytics, you should opt for expert call tracking software.
What is call tracking software?
Call tracking gives you vital data on your customer calls, and your entire marketing performance.
To give you a thorough picture of how customers are engaging with your business, you’ll receive a range of analytics including things such as:
- Calls received from each of your marketing sources – With the use of dynamic phone numbers, the call tracking software can monitor how many calls are generated from each of your marketing sources.
- Activities that produce inbound enquiries – When you receive inbound enquiries, you’ll be able to trace the activities that led the customer to this point.
- The effectiveness of your landing page – You can view the number of people who interacted with, or called you from your landing page – showing how successful it is.
- Keyword performance in call conversations – By picking a number of relevant keywords, the software will be able to identify these words when they’re spoken during a call conversation.
Why is call tracking essential for your business?
Call tracking is essential for your business for a wide range of reasons, which includes:
- More efficient monitoring of your marketing
With call tracking, you can use detailed insights and reports to gain more visibility over your marketing performance.
You can develop customer journey maps, which will highlight how effective each area of your marketing is at generating leads and sales for your business.
This will include every activity and campaign across each channel – for a more accurate and complete overview.
- Increase in engagement with activities
The software will also help you enhance your activities, and in turn, create more engagement from customers.
Once you’ve identified the strongest points in your marketing, you can analyse these to see what makes them so successful at generating interaction from customers.
As a result, you can replicate these same successful elements when you create new activities, so they too can help towards increasing your leads and sales.
- Improvements to your marketing budget
Investment is key in your marketing, and call tracking can help you achieve an optimal budget split.
By using analytics provided by the software, you’ll know which of your activities are contributing towards more revenue for your business, and which are underperforming.
In turn, you can direct more of your budget towards developing these increasingly successful activities, and remove your budget from those which are not sufficiently providing leads and sales.
This will leave you with a more profitable structure for your marketing, and thus, a greater return on investment.