Marketing Analytics: Mathematical Marketing Magic

Using marketing analytics for your branding strategy just adds up.

Information is a powerful tool when it comes to business, and this is especially true in your marketing. Marketing analytics has been around for almost as long as advertisements themselves, since business owners have always wanted to gather information about how their promotions performed, and how they could improve them. Then, and today, understanding marketing analytics can give you a huge edge over your competitors.

At its core, marketing analytics hasn’t really changed much. It’s still extremely useful for maximizing your return on investment and making your marketing more effective. Granted, the modern marketer has a lot more to think about than newspaper ads, but we also have a lot more data to work with.

Analyzing Marketing Analytics

So, what exactly is marketing analytics? Think about it as a nifty intersection of art and science: creating compelling content and then studying the gathered data to determine where your ads get the most engagement. A delicate balance of data collection and adjustment, it’s been an important business strategy that has served commerce across industries for many years.

The main difference between then and now is the amount of information we have available to analyze. There are many different types of questions you can ask about your marketing performance, with many different data points you can potentially gather to answer those questions. Here are just a few questions to think about:

• Demographics: Who is your customer?
• Ethics: What does your customer care about?
• Geographics: Where is your customer?
• Economics: What will your customer spend money on?

Whether you’re fine-tuning your direct mail campaign, a social media blitz, or a printed media publication, you have access to a lot of useful data to help you if you know where to find it.

Marketing Data: Collector's Edition

Data collection is extremely important for effective marketing analytics and luckily, there are several easy ways to collect it. By far the best way to get information about your customer is directly from the source – your customer.

Your direct mail marketing campaign is not only extremely effective for advertising your business and boosting your ROI, but also for gathering information for your marketing analysis. Potential customers have a personal connection to direct mail marketing materials. Data can help you every step of the way when you’re designing your direct mail campaign.

Before you send out your direct mail, work to determine which households and potential clients will be the most receptive to your marketing. Data lists available from 3^rd party companies help you target customers who might be in need of your products and services and are looking forward to working with you.

Technology for Tracking Your Marketing

QR codes, or Quick-Response codes, like the ones offered by Xpressdocs, are a quick way for customers to use their mobile devices to access a landing page or a specialized website of your choice. They’re great tools for information, both for the customer and for you as the business owner.

Here’s some information you can include on your landing page:

• Company details
• Offers
• Sales
• Inventory
• Pricing

In return, you have access to data about the customer who scanned that code, which is downloaded directly to your analytics dashboard. This information allows you to gauge the effectiveness of your marketing campaign and easily make adjustments if needed.

It takes very little time and effort to generate these QR codes so you can add them to your direct mail pieces, and there are many advantages to including them as part of your multi-channel marketing strategy. Without them, your direct mail pieces might very well reach the audience they were intended for, but ultimately, it will be hard to tell without the valuable data provided by the QR codes.

Combining direct mail and digital marketing like social media and web pages is not only a great branding strategy, but also will provide valuable, high-quality data for your marketing analytics.

Info Expert – Starting Your Marketing Analysis

Now that you have your marketing analytics data, it’s time to see what you can do with it. Your analytics dashboard will make it easy to see trends and figure out where to adjust your strategy, along with a lot of other useful information.

There are many decisions this marketing data can help you with, including:
•   Understanding customers
•   Designing future marketing campaigns
•   Product demands
•   Maximizing ROI
•   And more

Marketing analytics is a valuable tool, not something to be intimidated by or avoid. With a few simple additions to your already existing marketing, you can start tracking your branding’s performance and make it as effective as possible for your business.

Xpressdocs has the tools to help! If you’re interested in learning more about our trackable QR codes or the versatile analytics dashboard, schedule a demo or contact our helpful team to get started!