Working with enormous amounts of data is challenging. You must examine the results of your campaigns, look for any patterns, and make marketing decisions based off of them. However, there is a better way to ‘handle’ data. It’s tools for marketing analytics. They help you track your progress, show trends, and identify areas that need improvement.
They turn the large, random numbers into easily digestible data. Your clients are likely more interested in data that is presented in an appealing way rather than raw numbers. Therefore, it is beneficial to give them an overview of their results that is easy on the eyes.
What is marketing analytics?
Marketing analytics evaluates available data to assess marketing efforts. Marketing analytics is the process of aggregating and analyzing patterns in your marketing data in order to make better decisions. This is done through a combination of tools, methods, and approaches. You can use the patterns you discover to see how effective your marketing campaigns are, and change them if needed.
What are the types of marketing analytics?
Generally speaking, there are three main types of marketing analytics:
- Descriptive analytics
- Predictive analytics
- Prescriptive analytics
The distinction is made based on whether they can help you practically or answer theoretical questions.
Descriptive analytics essentially answers the question of “what happened?” in terms of past performance. Descriptive analytics uses models and methods to assess the performance of past marketing campaigns, such as emails or ads. Analyzing your marketing in this way can help you understand what happened and why.
Predictive analytics is worried about what will happen in the future. It responds to questions about the future. This type of marketing analytics requires a lot of data to generate predictions, which are often generated by machine-learning algorithms and marketing data.
Prescriptive analytics helps organizations adopt the best course of action to achieve optimal results. Predictive analytics looks at past data trends to try and forecast what will happen in the future, while prescriptive analytics uses data and analysis to recommend specific actions that should be taken to achieve a desired outcome. If you have a blog post that is getting a lot of traffic, prescriptive analytics can tell you to add a signup form so you can convert more leads.
What are marketing analytics tools?
There are various marketing analytics tools available that can be used by digital marketing agencies and in-house marketers to help with their marketing efforts. These tools can provide insights into things like customer behavior and trends, which can help marketers make more informed decisions about their marketing campaigns. Analytics tools help you understand your data by creating visualizations and actionable insights.
Marketing analytics tools usually present data on various marketing campaigns, e.g. social media campaigns, PPC, SEO, or e-commerce campaigns.
The primary motive for most marketers utilizing marketing analytics tools is to have the capacity to easily connect and comprehend their data once it has all been consolidated into a single location. Additionally, these tools can convert difficult decimals into more digestible graphs, bars, and charts, which is beneficial for both marketers and their clients.
Top 12 Marketing Analytics Tools
The following text lists some of the best marketing tools available, including their best features and prices.
Whatagraph is used by many businesses as a marketing reporting software as it is modern and powerful.
Whatagraph is an intuitive and interactive tool that sets it apart. You don’t need to know much about technology to build a report using our easy customization options.
Whatagraph is a great tool for both big and small marketing agencies as it is just as easy to create 50 reports as it is to create 5.
2. Google Analytics
Google Analytics is an effective tool for marketers who want to improve their client’s website and online presence. This could relate to site speed, clicks, or traffic.
Google Analytics is a free and helpful tool for tracking website performance metrics, from the initial source of the traffic to the final conversion.
While Google Analytics may not offer as many features as some other tools, it does provide the essential website metrics that every business needs to track. The analytics provided by Google can help you improve your website by identifying which pages are not converting well and finding out which page is bringing in the most visitors.
Supermetrics is a tool that helps marketers move data to their preferred reporting tools. It allows you to change and store data in the products you need before moving it to another tool that shows the data more effectively.
Marketers use Supermetrics to store data on various platforms, including data visualization tools, spreadsheets, and more.
Supermetrics may not be the easiest tool to use, yet they offer many resources such as customer success stories, data security, template gallery, support portal, blog, podcast and webinars. Even though it may be challenging to maneuver, Supermetrics provides several advantages that may be helpful for those in need of organization and support.
4. Adobe Analytics
Adobe’s Analytics tool is reliable for marketing analytics. This software is designed to monitor your customer’s journey and compile data from various sources. Adobe will also take into account data that you have inputted manually when it creates a report. This tool works like Google Analytics by inserting a code onto your website.
Klipfolio is a business dashboard and analytics software. It provides data visualization and documentation features.
Klipfolio is popular because it is user-friendly, flexible, and interactive.
Klipfolio lets you build custom data visualizations and dashboards to fit your exact needs. You can also distribute these to others as needed. Sophisticated customization, formulas, and functions can streamline and transform your data, helping your marketing team and your clients better understand your company.
Cyfe is a marketing analytics tool and software that provides users with data from multiple sources in one place. It allows users to track their marketing campaigns, social media, website traffic, and more.
Cyfe is great at taking your key metrics and KPIs and turning them into beautiful reports. With this software, you can connect to data sources with confidence, quickly and accurately pulling data from your SEO, social media, email, and other campaigns.
Cyfe has many features that make it great for online dashboards, including white-labelling and custom data widgets.
Mixpanel is a business intelligence tool that you can use to track how users interact with your online stores.
The Mixpanel platform is designed to help businesses understand how their customers interact with their product or service. Mixpanel tracks customer behavior habits, steps and trends to help businesses optimize the customer journey.
This tool is useful for store owners who run their businesses online because it provides data about each funnel stage and how clients impacted them.
Similar to Universal Google Analytics,
Yandex.Metrica is a page-based web analytics tool. There are many similarities between the two products since they are both search engines. Assuming you want a summary: Yandex.Metrica provides a lot of data about how users interact with a website, including mouse movements.
The free heat map tool is an excellent feature that sets Yandex.Metrica apart from Google Analytics. This tool lets you see which sections of your page are getting the most attention and which are being ignored.
Heap’s BI tool provides powerful analytic capabilities, such as understanding how customers are using your product.
Heap is helpful for getting answers to questions about user actions without requiring engineering work. You can make marketing decisions more quickly and accurately by obtaining data from the past few weeks, depending on your strategy.
Adverity is marketing software that allows users to visualize data.
Adverity is a data platform created to help with marketing performance analytics and automation.
Adversity provides an opportunity to find ways to increase revenue while working more efficiently and saving time by integrating siloed data and revealing actionable insights.
How to choose the best marketing analytics tool for your business
Which of these ten tools are you inclined to choose? To begin, you should investigate each of these topics more thoroughly. Still, to help you have an understanding of what you’re looking for, we’ve separated critical criteria and factors to take into account when choosing an analytics tool:
The type of your business
Remember what type of business you have when choosing data sources and creating reports. The type of business you have will affect what kind of data you need.
All marketing analytics tools present the same data, though in different ways. There are three main types of website traffic measurement: user-based, page-based, and hit-based. User-based traffic measurement gives you information from the perspective of the user, page-based traffic measurement gives you information from the perspective of the page, and hit-based traffic measurement gives you information from the perspective of the hit. What you should take into account when choosing an analytics tool is the type of business you have, what your goals are, and what key performance indicators you want to track.
If your goal is to optimize your blog and do content marketing, you need a page-based analytics tool, such as Google Analytics or Yandex.Metrica. If you need to track user behavior, use Mixpanel or Heap Analytics.
Some marketing analytics tools are better for software as a service companies, while others work better for ecommerce sites. There are many software programs that work well for companies that offer software as a service. Google Analytics and Mixpanel are two such programs.
Do you need cross-device tracking?
Some web analytics tools only work on certain devices, while others will track data across multiple devices. If you only have a web version, you shouldn’t pay extra for a marketing analytics tool that tracks mobile. If you want to track across devices, make sure to choose a solution that supports it.
We examined three different types of solutions – free solutions, affordable solutions, and expensive solutions. So, budget is essential. If you are working with a tight budget, it is a good idea to start with free data analytics tools. Once you have gained more experience, you can then move on to tools that require a paid subscription.
In-house data team
If you want to outsource your data collection to a tool, you need a team to manage it. After your data scientists collect the info, they will analyze it and present it from the perspective you want. Let them choose the tools and analytics solution.
Integrations with other platforms
The ability to integrate data from multiple sources is an important feature of marketing analytics tools. They make your work more convenient and, in some cases, allow you to bring more data to analyze and evaluate. Make sure to look for what kinds of integrations the tool you’re interested in offers. Make sure to integrate your data-related tools with your marketing efforts for the best results.
Data visualization and customization
You should also think about who will be using the tool. If you want a user-friendly dashboard and visualization solution for your marketers, then they will be able to derive the necessary information without any complications.
Some solutions are specifically designed for the business intelligence team. This means that they are trickier to use and come with capabilities that demand specific instructions and practice.
Customer support is an important factor to consider. You never know when you will need help. Even though the software is regularly checked for bugs and errors, there is still a chance that you may lose your report due to a mistake on your part or on the part of the software. It is important to use a tool that has responsive customer care.
We would also like to point out that you can use more than one marketing analytics platform, so you don’t have to choose just one. It is recommended to use more than one tool to get a multi-faceted view of your data.
What is marketing analytics?
Marketing analytics is a way to measure the success of marketing campaigns using data.
How is marketing analytics done?
There are several different methods and models you can use to analyze customer behavior and marketing data. For example, you could use customer interviews, data analysis, or attribution modeling. For the latter, you can use marketing analytics tools.
How can I choose a marketing analytics tool for my business?
You should ask yourself seven key questions before making a decision.
What type of business are you running, and what kind of real-time data do you want the tool to evaluate? Do you need cross-device tracking? What is your available budget? Who will be using the tool? Do you have an in-house data team?
Does the tool offer data integrations? What actionable insights do you want to gain? What is the quality of their customer experience?
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