Data analysis helps marketers identify trends, interpret consumer behavior, and craft effective customer experiences for measurable success. Analytics can provide an objective, results-oriented platform for discussion where marketing agencies and companies find the most impactful and cost-effective campaigns together.
While creative talent and stunning visuals can trigger powerful emotions, quantifying the monetary value of marketing and advertising can be challenging. Analytics provide a systematic study of “what works” using the scientific method, and it helps draw a clear line from campaigns to company profits. We’ll take a deeper look into the power of analytics and a case study by Mabbly that examines the science of “What Makes Employees Happy.”
The most important aspect of data analysis is collection, and marketers have been collecting customer information for hundreds of years. Direct mail campaigns could measure response rate by counting replies, perform A/B testing by sending different messages to an experimental group, and allow for segmentation of an audience by different demographic groups. Who wouldn’t want a discount, coupon, or promotion for exactly what they need, at their local store, during the season they need to buy it?
Modern analytics builds upon the mailed envelopes and postcards in the past, but data collection and modeling are amplified by automation, cloud storage, and location independent collaboration tools. Electronic media can track small interactions, such as opening an email, or looking at a specific post for a certain length of time. As marketing continues to evolve, companies with advertising platforms such as Google and Facebook add more powerful features for analysis and projection.
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