Marketing Analytics And Customer Foundation

Marketing analytics is the practice of managing and study metrics data in order to determined the return of investment of marketing efforts like calls-to-action, blog post, channel performance, and thought leadership pieces, and to identify opportunities for improvement. In business wise by tracking and reporting on business performance data, diagnostic metrics, and leading indicators metrics, this will let marketers to be able to provide answers to the analytical questions that will be significant and vital to the stakeholders. In this current competing business time, the more technology develops, the more time and budget is being allocated to chief marketing officers so that they can understand the performance and growth influence of their marketing efforts in the business environment. Currently there is a recent survey that is being predicted that marketing spending will will increase to 200% in the next three years ahead. Most of the times some marketing teams struggle to demonstrate credibility in most situation but with the adoption of strategic marketing analytics this can make it very easy to show on the return of investment.

In any serious organization establishing the clear marketing objectives and goals is very important in ensuring that resources are being spent on specific responsibilities, in such case there can be accountability in that in case money is allocated to a particular promotion its the duty of the marketing team to account for the return on investment of the activities that the money was used for. There should be a very good system in place to create return on investment tracking plan, which will ensure that investments are than in the right way with the right accountability process and procedures.

We must also understand that marketing analytics will never achieved its purpose when there is lack of experience and knowledge on the part of both the implementer s and employees, in this case management must ensure that the rightful change processes are done to bring everybody on board.