Web & Social Analytics
Digital analytics and its impact on digital marketing
Data is the new soil, they say. It’s got tremendous potential if used wisely, and it is not surprising that organisations across various sectors have been scampering to get their data analysis right.
Digital analytics, web analytics, or data analytics is playing an integral role in shaping the marketing landscape, with companies striving to not just collect but also make sense of mountains of data. Before we dive into importance of analytics for digital marketing or how you can use them, it is important to understand what digital analytics is.
Broadly speaking, digital analytics can be referred to tools, software, or digital platforms that collect and analyse data that percolates through every online marketing endeavour you undertake as a business. There is a good chance that you might have heard of Google Analytics, HubSpot, Kissmetrics, Hotjar, Adobe Analytics, Crazy Egg, and Moz Pro. All these rank among the top digital analytics or customer and marketing analytics services.
It is vital for today’s businesses to stay on top of the latest marketing trends, understand consumer behaviour, deliver a cohesive and enhanced user experience, increase revenue, and optimise spend. Combining your digital marketing with data analytics can help you achieve all of that and more.*
Importance of analytics for digital marketing
Companies are investing their time and resources to maximise the potential of digital marketing through a variety of channels, strategies, and approaches. The online ecosystem, including social media, has witnessed volatile changes and evolution over time, creating an avenue that can effectively influence customer buying patterns, choices, preferences, and mindsets.
Since most of your customers now spend a substantial amount of time researching online before making a buying decision, it is more important than ever for businesses to be proactive with the way they handle their web marketing. And, that is where structured online data plays such a massive role. It can tell you a story, provide proof, indicate loopholes, and point you in the right direction. Digital analytics in marketing helps business leaders generate actionable insights from data that covers the consumers’ or visitors’ footprints during the entire course of their digital journey.
The best thing about data analytics is that it takes most of the guesswork out of the picture and allows you to see deeply what works and what vis-à-vis your competitors. Having this wealth of information at your fingertips means you can make smarter decisions about reaching your audience, generating greater revenue, fuelling brand loyalty, and eliminating the top risks related to marketing.
Metrics for analysing digital marketing data
Before you get started with analytics or new marketing initiatives, defining specific KPIs that are relevant and important to your bottom line will help connect them back to your broader short- or long-term business goals. Some of the most essential or valid metrics include:
Customer retention rate
Cost per click
Return on advertising spend
Understanding which digital marketing analytics to focus on is critical in terms of improving the way you serve your customers and expand your audience. Once you have established these benchmarks or parameters, you can effectively shape your content campaigns or marketing strategies knowing that you are on the right track or make real-time interventions when required.
How Infosys BPM can help?
At Infosys BPM, our BPM Analytics solutions are designed to solve business-critical questions across the consumers’ online journey. With a blend of analytics, ML, AI, and intelligent hyper automation, we provide insights into the key factors that influence non-linear customer journey paths. Our digital analytics team focuses on your key digital assets, ensuring optimal campaign performance across platforms.
Our analytics offerings on digital marketing include:
Social and web reporting
Industry-based hyper-automated social media analytics solution
Hyper-automated social care analytics solution
Social bot seeker
*For organisations on the digital transformation journey, agility is key in responding to a rapidly changing technology and business landscape. Now more than ever, it is crucial to deliver and exceed on organisational expectations with a robust digital mindset backed by innovation. Enabling businesses to sense, learn, respond, and evolve like a living organism, will be imperative for business excellence going forward. A comprehensive, yet modular suite of services is doing exactly that. Equipping organisations with intuitive decision-making automatically at scale, actionable insights based on real-time solutions, anytime/anywhere experience, and in-depth data visibility across functions leading to hyper-productivity, Live Enterprise is building connected organisations that are innovating collaboratively for the future.