There are a lot of people who look forward to using marketing analytics and marketing attribution. These are two of the most powerful tools in the world of digital marketing that can help you in altering your campaigns, examining how they are doing, and making appropriate changes in future to assure that you get the most from it. However, you can only use these approaches if you have a clear understanding about what is marketing analytics and what is marketing attribution.
What is marketing analytics?
Marketing analytics is a tool that you will find often used across the digital world. It is essentially about learning about the metrics data and reading them in terms of ROI of marketing efforts. You get to identify where you got the most return on your investment and where there is room for improvement. Many people confuse the marketing analytics with the marketing metrics. Well, the latter is the data points themselves that you have to read and analyze on your own in order to reach a conclusion why the former puts data in relevancy to your brand and market which is much like telling a story about your campaign and how it is driving revenue.
Essentially, a marketing analytics help you in knowing about the big-picture marketing trends. You will be able to take a peek at the efforts that actually worked and why those particular campaigns were successful. Moreover, you will be able to take a look at the trends over time to see how visitors are shaping their interest. Get an estimation on the return on investment on each channel to determine which one should be kept in focus. In certain cases, you can also get the forecast about the future and how things will go for your brand in coming time.
What is marketing attribution?
Marketing attribution is the science that helps in telling a brand about the interaction points of a customer as he or she makes a purchase. You will get to know how well your promotional email did, what was the role of the advertisement you showed in the form of video, how engaging was the display ad, and what impact the television commercial had on the person who made the purchase (if any). It is about knowing the touch points, places where individual interacted to your brand before he finally made the purchase.
The marketing attribution helps you in knowing about the process of buying i.e. provides you a complete and clear overview of the buyer’s flow. You will get a pin point revenue attribution and will be able to solve the problems, as a marketer, that occur for the company or brand to assure that the campaign or channel becomes more effective. Moreover, you will get to know about the interests of customer that help you in better understanding about what your customers want more from you so that you can mold your content in future accordingly. All this leads to running effective marketing campaigns and getting higher ROI.
Lori Russell is pro blogger, she love to write on different kind of stuff to cover every part of life.