Analytics based marketing is effective because it is based on real data rather than speculation. NYC digital marketing agency that primarily focus on analytics driven marketing techniques are far more likely to be successful with their campaigns as opposed to experimentation or speculation.
With the variety of analytical tools that are currently available for most online marketing mediums including pay-per-click, banner advertising, social media marketing, SEO and others, data can be used to improve conversion rates, find new marketing opportunities, help to ensure that products don’t fail and more.
Improve the results of your current marketing
There are likely several areas that can be improved upon with your current marketing if you haven’t been using the full capabilities of the analytical tools that are available for your preferred channels.
Sometimes when your marketing is working you may not want to do anything more to improve upon it, but there’s every incentive to do so!
A data focused digital marketing company in NYC will find ways to increase your current conversion rates and suggest changes that will work based on your current data.
Their changes can result in higher click-through and conversion rates, a larger number of leads, and the end result of increased revenue.
Understand your market better
Many new products end up failing because of a poor market understanding rather than the quality of the product. The Harvard Business Review published a 2011 report stating that a lack of market understanding is the single biggest reason that products fail.
By utilizing data driven marketing techniques, you can gain a far better understanding of your market and target audience in terms of their interests, preferences, and wants and needs so that you can create a more customized product for them.
Optimize your customer experience
A study by GlobalDMA found that 49% of top brands were utilizing data driven marketing techniques to enhance their customers’ purchasing experience.
Your customers will appreciate the time that you spend on optimizing your marketing and products for their preferences and will demonstrate it with increased loyalty and more frequent purchases.
Customer satisfaction surveys are often used to gather customer experience data, along with other methods, and the information is used to identify any particular areas of improvement.
In many industries, this research is incredibly important since bringing a product to market can be very costly. Shareholders will want every guarantee that the product and purchasing experience will be desirable to the target market.
Get a head start when using a new marketing channel
Although some elements of a new campaign will always need to be tested from scratch, any current website data that has already been gathered can be utilized by an experienced digital marketing agency in NYC to tweak any current or new campaigns.
For example, there may be a particular time of day that your customers are the most receptive to your advertising. There also may be certain headlines, image ads or other ads that have already been tried and tested and offer a great starting point to experiment from when you switch to any new marketing channels.