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Looking for a business solution? Analytics is the key

How important is analytics to marketing activities? Several experts clearly explain the importance of digital marketing analytics to businesses.
By International Institute of Digital Marketing |
Looking for a business solution? Analytics is the key

“Marketing analytics is nothing but data mining using statistics in the field of marketing,” says Nicco de Jesus, director of Knowledge and Business Science for GroupM. “Basically, it is a fusion of old concept and new.”
 
In the digital age, the bottom line could be as basic as driving more people to the website. But at the heart of it is measurement of certain variables.
 
“Anything you want to improve requires some form of metric,” says de Jesus, who has consulted for leading banks and telecommunication firms, during a recent lecture in the Certified Digital Marketer (CDM) Program.
 
He says analytics can explain the drop and increase of loan deposits in the bank industry or identify the segments in the telecommunications market.
 
While de Jesus reveals that digital marketing analytics is an integration of various fields such as business marketing, psychology, and so forth with digital tools, at the very core of it is the goal to transform the hearts and minds of your target market so that they can be converted into profit.
 
What can marketing analytics do for an entrepreneur? What are the crucial questions that it can answer? – A lot, actually. Here are a few questions listed by SAS, a business analytics and business intelligence software:

•    How are our marketing initiatives performing today? How about in the long run? What can we do to improve them?
•    How do our marketing activities compare with our competitors’? Where are they spending their time and money? Are they using channels that we aren’t using?
•    What should we do next? Are our marketing resources properly allocated? Are we devoting time and money to the right channels? How should we prioritize our investments for next year?

Understanding your digital marketing analytics is like learning how to solve a formula. Piece by piece, you start to find solutions that work best for your business.

Learn the meaning behind those numbers with the Digital Marketing Analytics Specialist Track of the CDM Program. Log on to imadigitalmarketer.com or call 927-0096, 0928-506-5382 for more details.
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