We at Curve are always trying to find ways to better evaluate our clients’ marketing analytics. As anyone who’s used Google Analytics can relate, it’s far too easy to get overwhelmed with all of the information available.
The time and effort it takes to evaluate marketing analytics means that it cannot be easily done by the casual user. The size of your company, the market you sell to and the amount of online sales you generate all influence your use of marketing analytics.
We recently read a study by Christine Moorman, who is a regular contributor to Forbes. Titled “Marketing Analytics: What Gets Evaluated, Gets Used,” Moorman evaluated the amount of companies that use marketing analytics prior to making decisions. Not surprisingly, companies that said they didn’t regularly use marketing analytics to help shape online campaigns rarely evaluated the quality of their marketing analytics after the campaign was finished.
Moorman also found that companies with larger revenues use marketing analytics with greater regularity. She also found that companies were more likely to use marketing analytics if a large percentage of their business came from online sales. The main point we took away from this study is that businesses with smaller budgets need to be smart and efficient in their use of marketing analytics if they wish to increase their market penetration.
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