If you’re getting started in the world of marketing, chances are you have heard of marketing analytic tools. These are online and software devices that help you measure the performance of your marketing campaigns, by tracking each and every marketing and advertising piece that you put out there.
Marketing analytic tools are essential to running an effective marketing campaign online because you have to be able to see what your customers are responding to positively in order to continue to give them more of what they like. You also have to be able to keep a steady eye on what your customers are responding negatively to, or what they are simply ignoring, so that you can eliminate those types of marketing campaigns from your strategy and change to a better strategy that will put you steps ahead of where you are, and steps ahead of your competition too.
Now is the perfect time to jump on the marketing analytic tools bandwagon, both because these tools are invaluable to increasing the revenue of your company and growing your brand recognition, and also because you will be able to get your foot in the door before the world of analytic tools grows exponentially.
It is a great idea to get started now with marketing analytic tools because the number, effectiveness, and essentially, the wonders of these tools is expected to grow in the near future. You will need to have a basic grasp on the how’s and why’s of these tools so that you can fully utilize all of the benefits that these future changes can offer your business.
How Do Marketing Analytic Tools Work
When a web user visits a website, if that user has Cookies enabled, the website is able to place a “cookie” into their user information base. This information base can be thought of as a shopping bag that an internet user carries around with them as they browse the internet and make decisions on the internet.
Why You Should Be Using Analytics
One example that is very common is Facebook. Often, you will have many customers clicking over from Facebook when they see an ad or a sweepstakes, or other type of promotion. When the customer leaves your site, they are also left with a cookie that carries the information that they have been to your site before. What this allows you to do is track how many customers are returning customers and how many are new visitors.
This is only a couple of the reasons that you should be using analytic tools. They can also help you track the time on average customers spend on your website, load speeds, and other necessary information.
The Expected Rise in Analytics
Because marketing analytic tools have already proven so useful, and even indispensable, to online businesses or businesses with online presences, this type of technology is expected to significantly continue to grow throughout 2015 and beyond. The amount of money that companies are willing to spend for this valuable information is also expected to rise as much as 70% in the next three years.
This rise in automated tools that can calculate the how and why of what customers are doing and lead businesses to more effected marketing strategies may mean a decrease in the overall number of knowledge jobs in this field that will be available. This type of marketing advisement was once done by knowledgeable humans, but will now be done by super smart computer analytic tools.
While companies will still need human augmentation to operate analytic tools and to invent newer and bigger ways to improve these tools, such as the large educated staff that Google still employs, marketing teams who operate businesses solely based on giving advice and analyzing businesses’ marketing strategies may face a challenge in the coming years. Google Analytics already gives companies like these a run for their money because it is free to use, although it does have a paid option with more services available.
Experts in the field of analytics will still be able to find their niche in the business world by becoming knowledgeable about this growing technology. A company that plans on having strong internet presence—which every company should strive to do in today’s market—simply has to have analytic tools working for them, and a competent individual or team to interpret this data.