General

How Product Marketers Win With Advanced Analytics

by Marco Pimentel, CMO
31 Jul, 2017

Analytics is a tricky word. It can mean different things depending on who you’re talking to and what they understand analytics to be. If you walked into a company and asked the CEO, the CMO, the webmaster, and the website developers if they make use of analytics, they all would likely answer yes. They could all be right, but what does “analytics” mean to each of them? Are they all really answering yes to the same question, or do they have completely different ideas of what you are asking?

The first thing that comes to mind for most people when you talk about analytics, as it relates to doing business online, is web analytics. Nowadays, setting up analytics on the company website is about as basic as making sure you have a nice logo for the front page. When you ask someone if they’re using analytics and they say yes, this is usually what they’re thinking about.

 

Web Analytics Are Not Enough For Marketers

When you dig into the needs of marketers, web analytics are not enough. Sure, a comprehensive analysis of the traffic moving through the company website can give you some insights, but it doesn’t come close to giving you all the information you need to make the most critical decisions about what to do next.

Marketers need more than just website and server metrics. They need business metrics. They need marketing analytics. A marketing team is looking to increase things like ROI, lead conversions and campaign performance. Site analytics can give some clues, but they’ll never render the whole picture.

Marketing analytics is more about analyzing what people do (and why) rather than how many people are doing it. Marketers need to understand what turns a website visitor into a lead — and eventually into a customer. Marketing analytics is about tracking the cause behind the effect, enabling a company to scale their efforts and maximize that effect.

Here are two of the biggest way marketing analytics can help you to see the whole picture:

 

Data Integration Across Marketing Channels

Modern marketing campaigns happen across what sometimes seems like an infinite number of channels. If you’re only looking at what happens on your website, you’re only seeing a fraction of what’s going on. You need to take into account individual social media platforms, blogs, paid advertising, SEO, and more.

Your website statistics can show you how much traffic is being generated from these different channels, but marketing analytics will put it all together and give you a deeper understanding of what’s really happening.

Let’s use an email campaign as an example. Once you’ve sent out your email blast, you can easily see how many people click through and end up on your website over the next few days.

Marketing analytics will go beyond that base number though. Marketing analytics will follow people from the email to the website, through the transformation into a lead, and finally, the conversion into a customer. What’s more, you’ll be able to see the exact same progression as it applies to other channels.

Is one source bringing a lot of traffic, but not generating leads? Maybe Facebook generates a lot of leads but they just don’t seem to convert into customers. What about that almost forgotten ad campaign that’s just trickling in traffic but somehow converting at an astronomical rate? Good marketing analytics will show you where your most valuable traffic really comes from.

Once you know where your best traffic is coming from, you can start to focus on how to get even more out of it.

 

Tracking People, Not Traffic

Marketing analytics will give you insights into the behaviors and patterns of the people that make up your audience. It’s good to know that the social media effort is bringing good conversions, for example, but why stop there? What if you could see where or even why those conversions are happening? This is where marketing analytics really shine.

When you’re tracking the business metrics that matter, you don’t just know where visitors are coming from, but you can follow the paths they take to discover what converts customers and what doesn’t.

Going back to our examples above, with proper tracking in place, you’ll be able to see where exactly you’re losing those Facebook visitors who don’t seem to convert. Do they just bounce right off the front page? Or are they consistently hitting a second or third step that seems to drive them off before they convert?

And that long forgotten ad with the great conversion rate; what path are those people taking that makes them so anxious to get on board? And more importantly, can that be applied to create the same kind of conversions with Facebook traffic or search traffic?

 

Deskmetrics Delivers The Data You Need

Deskmetrics advanced analytics can give your team the data it needs to make the absolute best decisions. You’ll always know what’s happening, where, and why. Marketing your software without it is like flying blind. Request a free demo today and we’ll show you exactly what’s missing from your big picture.

Marco Pimentel • CMO

CMO by day. Fly fisherman by night. Not always in that order.

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