Everyone in an organisation is (hopefully) aware that marketing is essential to a company’s success. However, when asked to define what the marketing team does and how it impacts business, answers tend to come up short.
Data Analysis and Insight
One of the most crucial shifts in marketing has been the advent of data analysis to gain customer insight. It is also one of the lesser-known activities of marketers- with only 18% of non-marketers identifying it as a marketing function. Within a business, 48% of data analytics are used to gain a better understanding of the customer. Analytics help improve the overall view of a company’s performance and are used to develop content
and strategies that resonate with customers to generate leads and increase revenue. analytics are important for SEO and email marketing research. Another vital area that benefits from data is customer segmentation, with 49% of CMO’s citing this as a key marketing function. Knowing which customers are relevant to which areas of the business can make a huge difference in reaching them effectively. If a company wants to know what their customers are feeling, thinking and saying about their products and services, marketing analytics serve as the direct line between an organisation and its customers.