Running a successful business requires more than quality services or products in today’s world. Now, business leaders must focus a lot of their time and efforts on marketing campaigns to increase brand awareness. However, running a successful marketing campaign is also quite demanding.
It is challenging to track where your customers come from and how they respond to your marketing campaign. Many people believe that successful B2B marketing is accomplished based on gut instinct and expertise. However, it is not true at all. Even the most experienced marketers rely more on data than their expertise.
Marketing data plays a crucial role in business growth. With marketing data, business leaders can determine how well their landing pages are performing, how many people their ads are reaching and how well SEO is performing in bringing new potential clients to the business.
Now, you must be wondering how to gather this data. Marketing analytics. It is a way for business leaders to make well-informed decisions using the data. With marketing analytics, you can gather and analyse data through datasets, dashboards, and lenses to keep track of your strengths and weaknesses.
Thanks to modern technology, you don’t have to spend hours analysing numbers and spreadsheets. Instead, you can collect and organise the data in seconds. The faster you access marketing data, the faster you optimise your marketing channels and tweak your marketing strategy to boost your B2B business sales.
Read on to learn what is marketing analytics and how to get started with it.
What is Marketing Analytics?
B2B marketing analytics is a tool that allows business leaders to track, monitor, and optimise their marketing strategy in real-time to increase revenue. Thanks to customisable dashboards, B2B marketing analytics can provide valuable insights into your sales and marketing items to view metrics and make data-driven decisions.
Marketing analytics will help you track every client from when they become leads until they become loyal clients. Doing so will allow you to see what parts of your marketing structure are working and what are not.
To help you understand better, let’s picture marketing analytics as a funnel. Before a potential lead enters the funnel, the marketing analytics dashboard has already decided what metrics it will track. You can customise the dashboard according to your needs and preferences. For example, if you want to track your email list’s engagement, you can set up a dashboard to keep track of click-thru rates and opens.
Once you gather all the data needed, you can see what email marketing campaigns resonate with your target audience. If a campaign has low click-thru rates, it is a sure sign that you need to tweak your email marketing campaign.
Components of Marketing Analytics
Here are three major components of every B2B marketing analytics setup:
Datasets
A place where all data is gathered and organised into sets to be later incorporated into dashboards. With many pre-made templates, you can create datasets for different types of marketing campaigns.
Lenses
You can save a view of the dataset to reuse later. For example, Account Opportunity value by Industry.
Dashboards
A dashboard is a collection of lenses visualised as charts to help you get a more holistic view of data. You can customise it based on metrics, charts or any data point you wish.
Each component is crucial to any B2B marketing analytics structure. However, the most important component of the marketing analytics structure is the dashboard – a tool to view your business analytics.
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How to Get Started with B2B Marketing Analytics?
Do you want to start your B2B marketing analytics journey? Well, first, you will have to sign up for Zoho ONE. It is free software for all your marketing needs.
The suite of apps in Zoho will monitor your marketing campaigns and give you suggestions based on your KPIs. Marketers will be able to use all the app’s features, including the analytics dashboard and have all the campaign data in one place for easy viewing and comparison experience. You must buy a Zoho One subscription for only £30 a month, giving you access to over 40+ apps.
Benefits of B2B Marketing Analytics
Marketing analytics plays an important role in B2B business growth and success. To help you understand the importance of B2B marketing analytics better, some of its benefits are listed below:
Improved Decision-Making Skills
Marketers can never make informed decisions without information to back them up. They will make choices based on their gut instincts or personal preferences, which are not great bases for making decisions for a business.
However, marketing analytics allows marketers to access all the information needed to make better decisions.
Support Your Actions With Data
With marketing analytics, marketers can see how their actions will play out in the real world based on the data-driven.
Predict Customer Behaviour
Marketing analytics will allow marketers to track customer behaviour and their changing needs. If you run a campaign based on deals or promotions, marketing analytics will help you determine what promotions your customers respond to best.
Conclusion:
Nowadays, there is a lot of pressure on marketing teams to deliver significant results for their efforts. However, marketing analytics can help marketers take a lot of burden off their shoulders and make major improvements to their activities without doing much.
With marketing analytics, marketers can ensure the time, effort and resources are spent only on activities that will actually get them positive results. Do you still need help to get your B2B marketing analytics journey started? ActionCoach can help you with that.
Contact us today at 01442 773310 or email westherts@actioncoach.co.uk to kick-start your marketing analytics journey!
