Business Metrics: Return on Investment (ROI), Bahrain Email List Customer Acquisition Cost (CAC), Recurring Monthly Revenue (MRR), Cost Per Acquisition (CPA), Retention Rate. If you want to know more about KPIs, Vitor Peçanha explains in this video: 3. it needs to be visualized in a user-friendly way to do the analysis. After all, raw data doesn’t say much, but graphs and tables make the data intelligible. Data visualization ( data visualization Bahrain Email List) is one of the areas of Marketing Analytics, responsible for the visual representation of data. This is usually done through charts, tables, maps, and other features, which are brought together into performance dashboards (or dashboards). Data visualization allows the analytics person to process, cross and segment the data to notice patterns and trends and extract insights . This would be practically impossible with just raw data. On the other hand, a bar graph makes the growth in website traffic evident Bahrain Email List over the past month, for example. It is this view that the analyst needs to have. Bahrain Email List Mistakes You Must Avoid What are the most common mistakes companies make in Marketing Analytics.
We brought here the practices you should avoid in order not to create bottlenecks in your processes
Not documenting results There’s no way to Bahrain Email List check the performance of a strategy if you don’t have records about it. And we’re not just talking about performance data, but also documentation of planning, objectives, goals. The Content Trends 2019 survey brought up an interesting fact about this: only 36.5% of the companies interviewed had a documented content marketing strategy. Bahrain Email List Unfortunately, this is one of the main mistakes that make Marketing Analytics unfeasible. 2. Wasting time Wasting time in the process is also a common mistake. This can happen for different reasons: There is no strategy in place, so no one knows which data is most relevant; There are no tools or process automation, so the team has to manually collect Bahrain Email List data, do analytics, and build reports; There are no dedicated professionals, so data and analytics take a back seat. 3. Focus only on tools Tools are essential to optimize and streamline work. But many companies believe that the tools will solve all their problems, while the solution lies more in human resources and less in technologies.
Considered one of the digital analytics gurus
Avinashi Kaushik, defends the 10/90 rule : if you invest $10 in data tools and services, Bahrain Email List you need to invest $90 in people who know how to extract value from that data . This ratio makes it clear what really makes a difference in Marketing Analytics! 4. Monitor the wrong metrics Another common mistake Bahrain Email List is tracking metrics that don’t matter to your business. Here at Rock Content, we call this data vanity metrics — they impress, they fill you with pride, but they’re shallow and don’t help you make better decisions. Likes and number of followers are usually like that. Therefore, you need to target those metrics that really impact your business and show if you are achieving your goals. These metrics are the KPIs or key performance indicators we mentioned earlier. 5. Ignore the power of data visualization Bahrain Email List Presenting the results of a marketing campaign to company executives needs to be impactful. But if you take the data in the form of boring numbers and tables, it can frustrate expectations and fail to get your message across.