What’s your plan for reaching your anticipated ROI in 2022?
The Marketing Analytics Report of 2021-2026 forecasts that there should be a growth in the marketing analytics of the global market from 3.2 billion dollars in 2021 to 6.4 billion dollars by 2026. Hence, the compound annual growth rate (CAGR) for 2021 to 2026 is 14.9%.
If you want to be a successful marketer in today’s world, you need to have easy access to analytics that provide detailed information about your customer base.
(Source: The Data)
And how do you do that? With marketing analytics tools.
This article will go over the 7 best marketing analytics tools that will make you the Sherlock Holmes of marketing. We’ll also discuss what each of the digital analytics tools is good at and what it can’t do so well.
Take a look at what we have laid out for you:
- What are analytics tools?
- Why do you need analytical tools for your marketing campaign?
- Benefits of using marketing analytics tools
- How can analytics tools help to drive higher ROI for your marketing campaigns?
- Types of marketing analytics tools
- How to choose the best analytics tool for your b2b marketing campaigns
Let’s plunge in!
What Are Analytics Tools?
The term “analytics” refers to the act of using data analysis techniques to gain insights into the performance of online content or websites.
(Source: Marketing Courses)
So, what are analytics tools?
Marketing analytics tools help you track the effectiveness of your campaigns by measuring key performance indicators such as traffic, leads, click-through rates, conversion rates, etc.
Why Do You Need Analytical Tools for Your Marketing Campaign?
The answer lies in the fact that you need to measure everything that happens during your campaigns, especially content marketing analytics.
They include things like:
- How effective was the content?
- Did the audience engage with the content?
- What did the audience do after engaging with the content?
- Where did the traffic come from?
- Who clicked through to your website?
- Which pages of your site were most popular?
- Which keywords drove traffic to your site?
- What were the conversion rates on each keyword?
- What was the average time spent on each page?
- What was the bounce rate?
- What was the page depth?
- What was the number of pages viewed?
- What was the total number of visits?
- What was the most visited page?
- What was your most successful day?
- What was your least successful day?
- What were your best days?
- What were your worst days?
- What was the highest click-through rate?
- What was your lowest click-through rate?
- What were the results of your social media marketing campaign?
The critical point here is that there are no ‘magic numbers’ or ‘one size fits all’ solutions for measuring success. So, it’s essential to understand what worked well for one client may not work well for another. For example, some clients see better results from posting once a week instead of daily, while others see better results from posting twice a week.
It means that you have to test different approaches and tools for data analytics, then find out which ones generate the best results.
But how can I measure my success?
There are several ways to track your progress towards achieving your goals. Some of these include:
- Analytics tools
- Lead from contact forms
- Call tracking
- Email marketing software analytics
- Conversion tracking
- Social media monitoring
Benefits of Using Marketing Analytics Tools
Marketing analytics tools for digital marketing provide valuable insights to manage marketing campaigns. Therefore, it should be an essential part of your marketing life cycle.
(Source: Great Learning)
We’ll give you 20 benefits of using these analytics tools for digital marketing:
1) A better understanding of your customers.
2) Improved ability to target your audience.
3) Increased efficiency in planning and executing marketing campaigns.
4) Easier optimization of your advertising campaigns.
5) More accurate measurement of your success.
6) Helps you avoid wasting money on ineffective marketing strategies.
7) Provides more opportunities for cross-selling and up-selling.
8) Allows you to identify new revenue streams.
9) Improves customer satisfaction.
10) Increases sales conversion rates.
11) It gives you an edge over competitors.
12) Identifies areas for improvement.
13) Reduces risk by helping you avoid making costly mistakes.
14) It makes you look like a professional.
15) Boosts employee morale.
16) Helps you build trust with your customers.
17) Creates a positive image for your company.
18) Increases brand awareness.
19) Generates leads.
20) Enables you to create content that resonates with your audience.
How Can Analytics Tools Help to Drive Higher ROI for Your Marketing Campaigns
The following are 18 ways analytics tools for digital marketing can help drive higher ROI and manage marketing campaigns:
1) Improve website traffic.
2) Increase lead generation.
3) Enhance customer loyalty.
4) Optimize your social media presence.
5) Measure your effectiveness in executing marketing campaigns.
6) Reduce costs associated with marketing.
7) Identify potential problems before they become significant issues.
8) Provide better insight into your business operations.
9) Create a positive image for your brand.
10) Attract more followers.
11) Identify influential people.
12) Identify trends in your market.
13) Develop effective communication strategies.
14) Track the progress of your marketing initiatives.
15) Evaluate the results of your marketing activities.
16) Ensure that your employees are doing their jobs effectively.
17) Monitor the performance of your ads.
18) Identify potential problems early.
Now that we’ve covered all the things you stand to gain from using analytics tools for digital marketing, let’s go into the types of analytics tools available today.
Types of Marketing Analytics Tools
There are several different marketing analytics tools available for your marketing analytics roadmap.
(Source: The Financial Brand)
However, most of these tools fall under two categories:
- Web Analytics
- Social Media Analytics
Web Analytics tools measure website activity such as visitor behavior, user engagement, site usage, bounce rate, time spent on pages, etc.
Social Media Analytics
Social Media Analytics tools measure the performance of your social media accounts, including Twitter, Facebook, Instagram, YouTube, etc.
The following are some popular marketing analytics tools used by businesses today:
- Google Analytics
- Facebook Audience Insights
1. Google Analytics
Google Analytics has been around since 2005 and is one of the most widely-used web analytics services available. It is used by more than 50 million websites worldwide.
It provides detailed information about your visitors’ activities on your website. You can view reports on any number of parameters, including visits, page views, time on site, referring domains, search engine optimization keywords, and so forth.
You can also create custom dashboards using Google Analytics to monitor specific aspects of your site’s performance. For example, you might want to see which pages generate the highest level of interest or which ones drive the most incredible amount of traffic.
Google Analytics allows you to set up goals to track conversions on your site. It means that you can determine what actions are taken on your site to lead to actual business results.
For instance, you could set up a goal to convert new visitors into customers. Once they become customers, you can then measure the success of your efforts to retain them.
You can also set up goals to track the progress of individual users who visit your site. For example, you may want to know how many people complete a form on your site before submitting it.
Doing this will allow you to understand better whether this particular action is worth repeating.
Google Analytics is one of the free analytics tools, although there are paid options available. There are also third-party extensions that allow you to add additional functionality to the service.
Conclusively, Google Analytics offers both desktop and mobile versions. The desktop version requires no registration, while the mobile app is only available to users with Google Accounts.
2. Facebook Audience Insights
Facebook has its version of Google Analytics called Facebook Audience Insight.
Facebook Audience Insights gives you access to data from all of your Facebook Pages. You can get insights into your audience demographics, interests, behaviors, and interactions with your brand.
In addition, you can find out which posts generate the best response from your fans.
Facebook Insight is similar to Google Analytics in many ways. However, it does have some differences.
One of those differences is that it works with Facebook Pages instead of websites. Also, it doesn’t allow you to track mobile traffic.
But even though it lacks some features, Facebook Insight still provides many valuable insights and remains one of the most preferred tools for data analytics.
Here are just a few of them:
- Page Likes
- Post Reach
- Video Views
- And much more!
Mixpanel is a powerful marketing analytics tool that allows you to measure everything from user behavior to conversions.
Because Twitter builds it, it’s got an enormous following.
The reason why I say “huge” is because Mixpanel has been downloaded over 2 million times.
So if you want to reach a large audience, Mixpanel is worth checking out.
Some of the key features include:
- User Behavior Tracking
- Event Tracking
- Goal Tracking
- A/B Testing
- And more
KISSmetrics is one of the top digital analytics tools that focus on user behavior. It measures everything from clicks to page views.
It also lets you create custom dashboards and reports.
Like Mixpanel, KISSmetrics is backed by Twitter, and it’s free for up to 5 users.
If you don’t need any advanced features, then KISSmetrics is perfect for you.
Hubspot is one of the best analytics software companies. They provide a suite of products that help businesses automate their entire marketing process. It is one of the top analytics tools for content marketing analytics.
Their main product is HubSpot CRM.
CRM stands for Customer Relationship Management.
When you sign up for HubSpot, you get access to many different content analytics tools that can be used to manage your b2b marketing campaigns.
These tools include:
- Sales Funnels
- Email Automations
- Landing Pages
- Lead Nurture
- Content Creation
- And more
Optimizely is a web performance optimization tool that makes it easy to test changes to your website.
As one of the best analytics software, you can use this tool to ensure that your website loads as fast as possible.
There are two types of tests that you can run with Optimizely:
Load testing simulates how people will view your website. You’ll find out where your website needs improvement by running load tests.
For example, you may discover that one particular section takes longer than expected to load. Or maybe you find that your server is overloaded.
In either case, you’ll know what needs to be fixed.
Conversion Rate Optimization
Conversion rate optimization helps you improve the conversion rates of your landing pages. It means that you’ll be able to increase the number of visitors who convert into customers.
To do this, you’ll first optimize your landing pages. Then, you’ll test which elements work best.
CrazyEgg is a trendy social media monitoring tool. It was founded in 2007 and now has over 1.8 million active users. The tool is free for up to 3 websites, which is why it is one of the top analytics tools.
Once you’ve signed up, you’ll have access to all kinds of cool features.
Some of these features include:
- Social Media Monitoring
- Heat Maps
- Clickstream Analysis
How To Choose the Best Analytics Tool for Your B2B Marketing Campaigns
Now that we’ve covered some of the top digital marketing analytics tools available, let’s talk about choosing the right one for your B2B marketing campaigns.
Type of Data
First off, you should consider the type of data you’re looking to collect.
Are you interested in tracking user behavior?
Do you want to see how many people visit each page of your site?
Or perhaps you’d like to track the overall success of your campaigns.
There are content analytics tools that guarantee outstanding results.
After deciding what kind of information you want to measure, you’ll need to decide whether or not you wish to pay for the service.
Most companies offer both paid and free versions of their services. The price depends on the amount of data that you want to collect.
But keep in mind, if you go with the free analytics tools version, you won’t be able to analyze every aspect of your business.
If you’re looking for something that’s going to give you detailed insights into your business, then you’ll probably want to invest in a paid plan.
Next, you’ll want to look at the customer support offered by the different services.
Is there someone that you can call when you have questions?
And does the service allow you to send them emails?
Size of the Community
Lastly, you’ll want to look at the size of the community.
Does the service have lots of members?
Or is it relatively small?
These things will help you determine if the service is worth using.
Everything Considered, Be Sure To Use the Best Marketing Analytics Tools!
Digital marketing analytics tools are essential to any marketing campaign. First, they help you understand what works and what doesn’t. Then, you can use this information to make changes to your strategy. And ultimately, they’ll help you reach new heights as a marketer.
So, after reading our guide to choosing the best analytics tool for your B2B marketing campaigns, you should be ready to start collecting valuable data!
FlyingVGroup is readily available 24/7 to help you pick the best marketing analytics tools for your marketing campaign. Contact us!
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