In companies, all decisions must be made on the basis of relevant information. With this in mind, data plays an essential role. This allows company managers to anticipate market trends, carry out targeted marketing actions and thus optimise the allocation of different budgets. The right way of using data makes it possible to efficiently guide future actions and thus achieve potential savings.
Three good reasons to analyse the data
- Allocate your advertising budget efficiently:
For each advertising campaign, the company hopes to obtain a return on investment by acquiring new clients as well as to gain notoriety and visibility. Although it is still difficult to measure the performance of advertising investments, data analysis helps to determine the most efficient actions and make the necessary corrective actions to optimise the return on investment.
- Identify the best marketing channels:
In an era where companies spend a lot of money on advertising, data analysis is essential to know the performance of different channels. Indeed, wrong strategic choices in advertising lead to significant losses of money. Data analysis helps to identify the most effective, least efficient and least profitable marketing channels. The results allow to determine on which media the company should focus its efforts and what actions are required to improve a channel performance.
- Facilitate decision-making:
An advertising investment generates a significant amount of new data at the end of a campaign. However, having the figures and statistics is not enough. You have to know how to use the right information. It is also necessary to know how to aggregate and interpret it. Otherwise, the company may make inappropriate decisions.
The keys of relevant data analysis
The main challenge for marketing teams is to collect and correctly use data in order to make the necessary adjustments to improve advertising results. Only a relevant data analysis will make it possible to judge the performance of advertising investments.
A relevant marketing performance analysis must start on good bases. The data to be used varies from one advertising campaign to another. They are closely linked to the objectives to be achieved. Indeed, the data to be analysed is not the same for a campaign launched to increase the conversion rate and for another one whose purpose is to promote a product. So, the selection of information plays a decisive role in the relevance or otherwise of a marketing analysis.
Web analytics: an essential technique for analysing the performance of an advertising campaign
As a rule, marketing teams use website performance indicators to measure the efficiency of a campaign. Indeed, the website represents a significant part of companies’ advertising investments. It is now an essential lever for the visibility of a company and to attract new customers. Marketing teams thus benefit from identifying the channels that led visitors to their websites, the pages visited, etc.
Google Analytics is one of the tools frequently used by marketing teams in an advertising campaign. This tool provides access to analytical data to measure the effectiveness of the various marketing actions implemented. It provides, for example, concrete statistics on the performance of keywords used in a Google Adwords campaign, essential data when choosing the terms to use and allocating the advertising budget for a future campaign.
When analysing data, marketing teams also pay particular attention to the conversion rate. This indicator makes it possible to estimate the number of customers who reacted according to expectations (purchase, download, filling in a form, etc.). It remains a reliable indicator of the success or otherwise of an advertising campaign.
In addition to this information, marketing teams rely on a wealth of other data to guide advertising investments like click rates, number of impressions, cost per click, etc, all data which can be obtained through Google Analytics.
A need to move even further in data analysis
Measuring the performance of advertising investments is not limited to analysing the performance of a website. The task is much more complex. The challenge for marketing teams is to understand the different factors that influenced the purchasing process or not.
As a matter of fact, the bounce rate, page loading time, traffic volume, number of unique visitors, number of pages viewed, or the time spent on the site and other information is used mainly to determine the technical performance of a website. They only partially explain the performance of an advertising campaign. Moreover, this data is more useful to publishers than to marketing teams.
A real marketing analysis focuses mostly on sales volume, conversion rate and number of leads generated. It seeks to understand the events and factors that led to a sale, or on the contrary, deterred customers. In addition to information related to the website, marketing analysis also takes into consideration data from other sources such as social networks, e-mailings, and even offline events.
This analysis makes it possible to know the most effective actions and marketing channels to achieve the objectives set. It also allows to identify the weaknesses of each channel, and thus to make the necessary corrections to optimise the return on investment of an advertising campaign.
A complex process…
Many marketing professionals still limit themselves to web analytics for the analysis of advertising investments performance. However, this technique does not justify 100% ROI for the expenses incurred. The complexity of data collection means that few professionals use real marketing analysis.
The fact is that without tools of aggregating all the information, marketing teams still have to use different solutions in order to gather all of it. For example, e-mail campaigns data is only available through the analytical tools provided by e-mail service providers. Similarly, blog performance figures are only available via blogging platforms. To obtain data on social network advertising, marketers must have a monitoring tool.
The data collection process is therefore long and tedious. In addition, data must be aggregated before being interpreted. This makes marketing analysis more complex and measuring the performance of advertising investments difficult.
… which requires an all-in-one solution
To facilitate the measuring of advertising investments performance, companies benefit from equipping their marketing teams with TrackAd solution. It is a complete and all-in-one tool that provides a clear and accurate overview of marketing data required to measure the return on investment of each channel. TrackAd offers among other things the possibility to enrich the primary website traffic data provided by Google Analytics.
Regarding, for example, order statistics, Google Analytics shows the volume of orders made on a website but does not take into account their status. In particular, cancellations are not taken into account. Using TrackAd allows to refine this data to measure the real performance of the various marketing operations. The tool also offers the possibility to customize order deduplication, avoid data loss related to sampling by automatically downloading traffic data, and even collect data from services outside the merchant site (offline stores, mobile application, call centre…). In short, thanks to TrackAd, marketing teams will have access to all the KPIs they may need to accurately measure the performance of their advertising investments.