In addition to this, by really digging into the details of your marketing efforts, you can answer key questions that will help propel the performance of your marketing campaigns. By analysing market data, you can assess:
How your campaigns have performed in the long run
What’s changed to improve them and what further improvements can be made
Whether your marketing resources are properly allocated
How you can prioritise your upcoming marketing investments
Overall, effectively analysing marketing data allows you to:
Show stakeholders in your cp number in philippines organisation how effective your marketing efforts have been and why they’ve been successful
Turn the data you’ve received into actionable insights that can further improve the efficiency of your campaigns and boost your return on investment even further
Compare and contrast your data sets with each other to see which of your channels and campaigns is most effective
Segment your customer data
Crucially though, when you have analysed the marketing activities of your business, you then need to take action. If your analysis simply sits on a server or remains unused, then it cannot help the performance of your business. Remember, the data is only useful if it is effectively analysed. If you fail to analyse the data, you’ll instead act on hunches that may be inaccurate.
For example, if your business usually generates £10,000 of revenue a month but you find that monthly revenue has risen to £12,000 per month at the end of a three-month pay-per-click advertising campaign, this doesn’t necessarily mean that the campaign itself has been successful. This is because your campaign may have been impacted by other factors, such as seasonal trends, industry-wide news, or other marketing activities. Due to this, before you run the same campaign again, you need to establish how many customers came to your website directly from the campaign and how much they spent. Only then will you know the true value of the campaign.