Understanding Marketing Analytics
Marketing analytics is the practice of measuring, managing and analyzing marketing performance to maximize its effectiveness and optimize return on investment (ROI). Understanding marketing analytics allows marketers to be more efficient at their jobs and minimize wasted web marketing dollars.
Beyond the obvious sales and lead generation applications, marketing analytics can offer profound insights into customer preferences and trends. Despite these compelling benefits, a majority of organizations fail to ever realize the promises of marketing analytics. According to a survey of senior marketing executives published in the Harvard Business Review, “more than 80% of respondents were dissatisfied with their ability to measure marketing ROI.”
Figure 1: A Survey of Sr. Marketing Executives on their Marketing Analytics Effectiveness
However, with the advent of search engines, paid search marketing, search engine optimization, and powerful new software products from WordStream, marketing analytics is more powerful and easier to implement than