As we know the business world is rapidly changing, and so are the marketing trends. In the current world, digital marketing takes away the lion’s share of the marketing budget. Data and analytics have become game-changers, even in the digital marketing field. But analyzing the effectiveness of digital marketing activities has been raising challenges for digital marketers since it started. According to the State of Inbound Report 2016, 46% of marketers find their biggest challenge in ‘proving the ROI of our marketing activities.’
The New-Age Analytics Tools
When it comes to online, everything is trackable. Thanks to the new age quickly advancing technology, there is arguably nothing that you can’t measure with the analytics tools. The rapid emergence of IoT has given fresh life to digital marketing analytics as a huge amount of data is being accumulated each second. However, it is a drop of information from the waterfall of data that becomes the trump card for your business.
While web analytics give you deep insights into the website traffic and performance, digital marketing analytics throws insights about the marketing efforts you put in. Taking the definition from Hubspot, digital marketing analytics ‘measure business metrics like traffic, leads, and sales, and which online events influence whether leads become customers.’
How Does Digital Marketing Analytics Help?
Digital marketing analytics help you measure the effectiveness of your digital marketing activities. It lets you understand what is working and what is not in your marketing strategy. The digital marketing analytics tools let you understand whether your campaigns are performing well, content reaches the target audience, ads are relevant, and more. It also opens up various ways to gain insights into customer behavior. Furthermore, you can understand whether you need to change the strategies and tactics of your marketing efforts.
Hence, it opens up opportunities to maximize your ROI in digital marketing by eliminating those activities that do not benefit your business. The web analytics tools will not be sufficient to know how the individual marketing channels are performing. Given all these reasons, digital marketing analytics has become an integral part when you want to build a solid online presence for your brand.