How to Meet Your Business Objectives with Marketing Analytics Consulting Firms

 Marketing intelligence solutions have embraced artificial intelligence (AI) and machine learning (ML) advancements. Therefore, corporations can acquire better insights into business problems. Organizations want to reduce the gap between marketing intelligence and performance by collaborating with experienced marketers. This post focuses on how marketing analytics consulting firms help companies meet their business objectives.

What is Marketing Analytics?

Marketing analytics involves extracting insights into advertisement statistics, customer behavior, product design, and online brand presence to maximize the effectiveness of promotional campaigns and strategies. Marketing analytics consulting firms use modern methods of collecting, storing, reporting, and updating the required performance data.

Intelligence solutions used for market trends and sales analytics affect how you measure and adjust the performance of a promotional strategy. For example, a company can inspect the following business queries leveraging marketing analytics.

1. Do Facebook Ads help the company reach, nourish, and convert more consumers?
2. What is the difference between the organic social engagement of two tweets, one containing three hashtags and another without?
3. Why might many users exit the company’s apps or websites at a specific scroll depth?
4. Should you increase paid social budget or social posting frequency?
5. Do influencer collaborations that you tracked through tagged links yield impressive results?

Insights related to such questions allow businesses to learn about their audience. Later, they can communicate how some marketing strategies contribute to increased sales and specific techniques perform poorly.

What Are the Services Offered by Marketing Analytics Consulting Firms?

1 | Social Media Analytics

When brand accounts generate content on social networking sites (SNS), they get visualized user statistics. Marketing professionals observe them in the Facebook/Meta business suite, Twitter analytics, and Pinterest overview reports. Additionally, reputable marketing intelligence solutions allow importing social analytics data to create custom reporting views or “data visualization dashboards.”

Similarly, LinkedIn provides organizations with user engagement data and content reach statistics. Today, the value of marketing analytics metrics such as the number of followers and likes has declined due to fake accounts, according to the top consulting firms helping companies meet business objectives.

However, market intelligence solutions will gather data on the location, age, gender, profession, and related interests of your engaged customers over social media platforms. Later, you can identify actual consumer engagement events.

Companies use the identified user interaction patterns to improve their design of social media posts to build an online presence. For example, Instagram allows ten images in one carousel post. Corporations can use this facility to repurpose their consumer education slideshows.

2 | E-Commerce Analytics

An enterprise might deliver consultation, commodities, or other services via its business website, proprietary app, or third-party platforms. Still, it requires the visitors’ engagement and retention data to understand how consumers interact with a navigational or payment feature.

Cart items, offer codes, billing methods, and customers’ personally identifiable information (PII) reveal upselling opportunities. So, businesses must study their customer data in an e-commerce context. Marketing analytics consulting firms can optimize retention models to help online stores thrive and surpass their competitors.

Consider how market intelligence solutions depict the popularity or irritability linked to user interface (UI) elements. They support interaction monitoring tools to tell you how many users engage with the offers, pop-ups, and cart buttons on your e-commerce shop. Moreover, you will learn how many customers left products in their carts, i.e., the abandonment rate.

Some buyers have a habit of creating wish lists first. They revisit your product pages to purchase products on certain days, like during a festival season or at a memorable life event. Marketing analytics consulting firms examine these behaviors and develop unique engagement strategies.

3 | Advertisement Analytics

Businesses know the importance of content marketing that leverages web connectivity. Besides, advertisement ensures the web stays open and accessible to everyone globally. A company cannot launch a marketing campaign without the methods necessary for tracking its performance.

It must include user engagement data and visibility statistics to analyze the campaign’s effectiveness. So, online ad networks employ technologies like scripts, cookies, tags, and web beacons to help managers develop reports. These reports go beyond customer views and ad clicks.

Marketing analytics consulting firms utilize advanced tags and customer tracking tools to unlock detailed insight into ad performance that helps meet a business objective. If an ad performs poorly, its analytics data will reflect this situation. Therefore, the organization can stop wasting money on less satisfactory marketing campaigns.

4 | Search Engine Optimization Audits

A business website will have your brand name on three essential top-level domains. i.e., .com, .org, .net. Moreover, companies use subdomains to manage different sites optimized for geolocation, country, languages, or unique user experiences.

Still, you cannot be sure if your site will appear in the online search result of your ideal clients. As such, search engine optimization (SEO), a technical skill of customizing your content and website structure, becomes vital.

Market intelligence solutions will capture data on which user queries and related keywords can bring your website to rank 1 on the search engine results page (SERP). You can also improve your return on ad spend (ROAS) by enhancing keyword targeting in online ad networks.

5 | News and Media Monitoring

Many TV channels and magazine publications differ in their popularity. Corporations want to avoid being associated with questionable broadcasting networks and media platforms that might harm their brand’s reputation.

Still, they want to maximize brand awareness using minimum expenditure to achieve economy. Marketing analytics consulting firms will pay attention to your online and offline brand presence. They analyze brand mentions to track how various news sources, magazines, and other forums describe your business and its commercial offerings.

Through media and press coverage monitoring, managers wish to safeguard their brands from negative marketing attempts by competitors. They must also get a reliable estimate of how positive or negative media coverage affects the company’s long-term financial performance.

Marketing Analytics Consulting Firms Help Meet These Business Objectives

Goal determination enables enterprises to coordinate their operations. The companies have a set of goals for each business unit. So, market intelligence solutions offer assistance in accomplishing the following business goals.

Objective 1 – Increase Brand Awareness

Your company might be famous in one country. But it must expand to other markets. However, penetrating new markets is a daunting task. You will require strategic brand awareness efforts to familiarize potential customers in the new territory with your company.

Brand awareness and value association can affect the relationship between a company and its consumer base in the long run. Therefore, marketing analytics consulting firms study the impressions and brand mentions reports. They will help you experiment with multiple brand awareness strategies and select the best-performing one.

Objective 2 – Grow Conversions and Sales Revenue

Gathering market intelligence using various IT solutions allows you to adjust your marketing campaigns for each customer segment. Also, the insights obtained from analytics facilitate consumer experience personalization that increases the conversion rate.

The private sector organizations require highly-engaging marketing materials and maintain a healthy rapport with existing clients. Marketing analytics and intelligence let them identify the best approach to improve customer relations and boost sales.  

Objective 4 – Identify New Market Opportunities

Businesses revise their strategies to prepare for better market penetration and service differentiation opportunities. Marketing analytics consulting firms track new market opportunities and help companies benefit from the latest industry trend adoption.

Each enterprise willing to innovate its products and services to attract another market segment must conduct thorough research to inspect financial feasibility. If it does not create a functioning market entry strategy, its newly-launched products and services can fail to perform well.

Conclusion

Market intelligence solutions allow corporations to grow fast, get customers, and enter new markets. You can start a promotional campaign today and let the marketing consultant increase the company’s brand recognition. A successful marketing strategy requires qualitative analytics tools and experienced professionals’ guidance.

A leader among marketing analytics consulting firms, SG Analytics empowers enterprises to collect and process all categories of campaign performance and consumer interaction data. Contact us today to leverage our multi-channel attribution and learn how to increase client retention.