Digital marketing analytics is a tool that successful brands use to:
- Evaluate ad campaign efficacy
- Analyze SEO traffic
- Optimize their brand image
- Improve the quality of their products
- Attract and engage more customers
The digital analysis yields countless benefits, which is why so many companies prioritize this step in their marketing strategy.
Continue reading to learn more about digital marketing analytics and how you can use it most effectively.
Countless organizations rely on analytics for growth as it provides qualitative and quantitative data for making strategic decisions. It also helps paint a more vivid image of your customers as a whole.
Finally, analyzing one’s digital efforts can determine where more effort and budget should be allocated to drive business results.
What Is Digital Analytics in Marketing?
Digital marketing analytics doesn’t differ much from digital analytics. Both rely on the collection, measurement, and analysis of user data to form important decisions. The only difference with digital marketing analytics is that it focuses on the efficacy of marketing techniques and how they may be improved. Google, Facebook, Linked In, Instagram, Twitter, and Snapchat are just some of the platforms we can use to run a digital analysis.
Digital marketing analysis can give businesses actionable information such as conversions, regional preferences, creative preferences, consumer behavior, and much more. This data can then be used to better understand and target future customers. Letting a failed campaign run would be a waste of funds, which is why digital marketing analytics can be helpful in one’s overall marketing strategy.
Digital Marketing Analytics vs. Web Analytics
Digital marketing analytics is fundamental for growing steadily and attaining business goals.
The central point is that digital marketing analytics focuses on online marketing activities; web analytics focuses on the online activity as a whole.
Digital marketing analytics is concerned with data that affect marketing strategy, in other words, how it can better attract, engage, and retain customers. Web analytics is broader and can encompass data not specifically to do with the customer.
For example, while digital marketing analytics looks at customer behavior and usage data, web analytics may consider factors such as site speed, searchability, and mobile optimization. These can then be interpreted from a marketing lens, but on their own have little to do with the customer.
How to Understand and Track Social Media Analytics
Social media analytics is a more specific type of digital marketing analytics, available for essentially all online businesses. Social media analytics provides an in-depth overview of how people and your target audience interact with your brand content.
However, navigating through the dashboards and setting in search for analytics can be tricky. Here are the five steps to follow for getting a proper understanding of social media analytics:
Step #1: Assessing Social Media Metrics
Each platform comes equipped with its own specific tools for insights. For examples:
- Twitter provides "Twitter Analytics" to track follower growth and the most interactive period for content.
- LinkedIn provides free company data on your business profile. The site also offers special analytics software for premium account users.
- Facebook pages have a whole "Insights" tab that logs all visitor and customer activity.
- YouTubers can find their metrics on the YouTube "Analytics Tab."
- And since Instagram is a product of Facebook, it uses "Facebook Insights" to display analytics to the brands.
The data provided by each platform also differ. For example, Instagram is limited in the data it provides compared to Facebook, which can give you demographic data as well.
Step #2: Getting to Know Your Followers
Social media platforms such as Facebook provide brands a tab labeled, "Page Followers." In this section, you can find detailed graphs on customer activity and what they like.
Using these metrics, you can pinpoint which strategies are taking off and which are tanking. In addition, you can also better understand your ideal customer on that platform.
The bottom line here is that filtering your audience for a targeted approach is absolutely fundamental! Otherwise, you will end up wasting a lot of resources and marketing efforts.
Step #3: Setting Specific Metric Goals
Now it is no secret that being bombarded with numerical values left, right, and center can be a bit overwhelming. The key is to set your key performance indicators (KPIs) and goals.
What does that mean? It means you have to think about what is most important to you. Pay attention to what you want out of the brand. From there, you can begin tracking the metrics that matter and subsequently work on making adequate improvements. For example, if you’re looking to get people to sign up for a newsletter, your KPIs may be clicked to the website, impressions, and comments as these all give you a clue as to how successful your efforts will be.
Step #4: Using Tools for Social Data Analysis
Marketing professionals often rely on apps and software programs that use machine learning to collect data. These programs combine your social efforts in one place and give you the most optimal analysis of all your social media marketing strategies.
The three best programs that let you pre-schedule posts and track activity are as follows:
- Sprout Social
- Google Analytics
These programs cut the time and cost in half and provide real-world solutions. Be sure to look these up and include them in your strategy if you haven’t already.
Step #5: Expanding and Furthering Your Subject Knowledge
The 21st century is widely considered the age of innovation, so take the time to experiment. Let's abandon run-of-the-mill ads and use digital analytics to better them.
One of the best ways to learn more on the subject is to take an online course or certification. The most remarkable thing about the internet is that we can find a plethora of free coaching classes!
Here are some of the things you can begin with:
- Coursera -- the online course provider, offers many free classes on social media data analytics,
- MediaBistro -- the best resource provider for media professionals is filled with short and in-depth tutorials on analytics,
- EdX -- Like Coursera, EdX is also a course provider that offers manifold learning classes,
- Google Digital Garage -- Google's free online certification goes into minute details about digital skills, thereby instilling them in the course takers,
- Hootsuite Academy -- the platform provides various learning classes on social media and strategy building.
So, with the skills learned from these courses in your arsenal, you can rest assured entrepreneurial success is yours!
Benefits of Using Sprout Reporting in Digital Marketing Analytics
According to marketing experts at SociallyIn, Sprout Reporting takes the cake for providing the best digital analytics. The following are some of the reasons Sprout is the best tool for start-ups:
- It gives automated reports within minutes
- Your data will have the meaning as Sprout tells you what to look for
- Its toolset is easy-to-understand and easy-to-use. In addition, Sprout also provides comprehensive training to newbies so that they can navigate the platform with ease
- You can connect all your social profiles in one place to get collective data. An overall insight gives you a view of the big picture
- Best of all, the platform lets you compare your performance with your competitors, allowing you to gain a significant advantage.
So, are you ready to dissect all the metrics and insights? Start your free trial at Sprout Social today!
The Best Digital Analytics Examples of 2021
The world of e-commerce utilizes digital marketing analytics daily. So, as a start-up company, you will immensely benefit if you get a head start in these tools. The following are some great examples of the tools digital marketing analytics include:
#1 Conversion Rates
This is the rate of page visitors that complete the desired action, such as:
- Purchasing your product or service
- Signing up to your website
- Subscribing to your channel
- Enlisting for your daily newsletter
- Liking your blog posts
Here's how digital marketing analytics calculates this for you:
- First, it tallies the total amount of audience, i.e., page visitors
- It then totals the number of people that complete the desired action (as specified by you)
- Then, it divides the number of people that fulfill the criteria by the total number of page visitors to get a fraction
- Lastly, it multiplies the fraction by a hundred to yield a percentage
And voila, there you have it: the conversion rate!
#2 Traffic by Source
This digital analytics tool is perfect for when you need to track how people reach your brand page. Some of the sources people come from are as follows:
- Organic reach -- these are people that see your original blog posts (unpaid page content)
- Direct -- these types of people come to your brand through direct links in ads
- Referral -- referrals are when friends, family, or acquaintances praise a product or service. This is tracked using tags in a URL.
- Social -- these people come across your social media marketing ads. As a result, they end up on your brand page.
#3 Sessions and Session Length
Sessions are the number of visits to your site. If a single person visits your age twice, it counts as two (and not one!). Digital marketing analytics will also tell you how long each user’s average seasons are (how long people browse through).
Now, this is essential as businesses need to know how engaging their content is. The longer the sessions, the more customer engagement. If you find out that your sessions are short, you can immediately begin working on improvement.
#4 Bounce Rate
It is the rate of people who leave your brand page immediately after viewing. That often occurs due to issues like:
- Broken links
- Slow loading
- Faulty marketing strategy
The minute your digital marketing analytics begin to display a high bounce rate, you need to assess the probable causes. This might even lead to a redesigning of your campaign, landing page, or social media page.
Here's how digital analytics calculate bounce rate:
- First, the tools tally the number of people that visit your brand page,
- Then, it counts the number of people that leave after viewing only the first page,
- It then divides the second number by the first to yield a fraction,
- Lastly, it multiplies the fraction by a hundred to get the bounce rate.
#5 Website Traffic
Web traffic simply determines how many people visited a certain webpage over a specific period of time. In turn, this can tell you which of your marketing campaigns are successful, and which ones need work. For example, if your Instagram marketing strategy takes off, you will receive a significant amount of traffic to your webpage from Instagram.
Why Do You Need an Expert for Digital Marketing Analytics
As an entrepreneur, it's no secret that you always have a lot on your plate. You have to monitor multiple activities to ensure the business runs smoothly. This is why you need a strategy for completing tasks, rather than simply adding on to your to-do list.
So, wouldn't it be a terrific idea if you could outsource all your analytical work to an agency that specializes in this type of work? Well, the good news is that it is absolutely possible to do that!
With SociallyIn, you can rest assured that your marketing strategy is in safe and capable hands. Here's everything SociallyIn's digital marketing analytics experts will do for you:
- They are highly trained individuals in the world of social media marketing. They not only have decades of combined experience but also stay on top of new trends and developments..
- These professionals have worked with countless international clients. They understand how to create data-driven campaigns that translate across the global markets.
- SociallyIn combines thorough analytics with a creative eye to develop your social strategy. At the same time, everything is tailored according to your brand’s voice and your intended audience.
- They use a comprehensive approach to give you a birds-eye view of all your channels. This allows you to more easily determine areas for improvement.
- Finally, they will provide you actionable solutions based on thoroughly collected and measured data.
So, what are you waiting for? Get in touch with SociallyIn today to get started immediately. Don’t delay your business’s success!
Frequently Asked Questions
Why do you need digital marketing analytics?
There are several reasons why digital marketing analytics is beneficial to a company:
- It gives you a comprehensive look at all your marketing strategies online and allows you to assess their progress or success
- It paints a more realistic picture of the customer journey and how you can improve it
- It allows you to better allocate resources and budgets towards the necessary channels
- It provides ideas for new products and services
- It gives you the necessary data to enhance your overall brand awareness and reputation
With these benefits in mind, there's no denying the vital importance of digital marketing analytics in our businesses.
How to learn marketing analytics?
Complex buzzwords like marketing analytics data may sound daunting. But fear not, as these methods are, in actuality, straightforward to learn.
The following are some of the best ever resources on understanding analytics:
- The KISSmetrics Blog -- lets you experiment with data while simultaneously teaching vital concepts.
- Google Analytics Academy -- provides a multitude of classes on elementary to advanced analytics.
- SociallyIn Blog -- the blog contains vital analytics info and tips on social media platform optimization, among other marketing tricks.
So there’s always a way to brush up on your marketing analytics skills!
How do you track marketing effectiveness?
The following factors can help you determine the effectiveness of your marketing techniques:
- "Return on Investments" displays a significant increase. To put it simply, this means that the money you make will be more than the money you invest.
- Conversion rates increase. That means that more of the people that visit your social media business leave with a purchase.
- Your product or service sales also increase phenomenally.
If your campaigns exhibit these changes, then you are on your way to steady success. What if it's not? If you see no progress within a month, it is time to pull the plug!
How is advanced analytics changing B2B selling?
Has your B2B selling resulted in losses lately? Then it is time to put the stake in and dive into advanced analytics.
Today, businesses near and far have expanded in the direction of advanced analytics. Hence, B2B companies have adapted accordingly.
B2B companies use these tools to:
- Establish new sources of revenue for their business
- Recognize patterns and make data-driven decisions
- Increase conversions such as newsletter signups, downloads, or sales
- Increase click-through rates via Search Engine Optimization
So, are you ready to transform your business? Then make sure to employ the use of digital marketing analytics as soon as possible!