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Data analytics is the collection and analysis of customer data, including their needs, tastes, and desires to improve marketing strategy. It is a fundamental part of a digital marketing strategy and has numerous advantages. First, analyzing past and current trends gives sellers a better understanding of the target market (McGaw, 2020). For instance, demographic data shows potential buyers’ ages and interests. This makes marketing more efficient since they will know which products to advertise to whom. Data analytics also facilitates personalized marketing as a substitute for generic methods such as sending bulk texts. Consumers have increasingly grown averse to spam advertising and it is, therefore, essential for promoters to know how to sell without irritating their prospective clients (Young Entrepreneur Council, 2019). Additionally, data analytics can give sellers insights into future customer behaviors and enable them anticipate their purchases. They can then develop products that are suitable for that group and secure a ready market even before developing it (Knippel, n.d.). Besides personalized marketing, predicting market trends, and building customer relations, digital marketing increases business profitability and creates brand loyalty.
Effective digital marketing also entails monitoring and measuring performance. Through data analytics tools, salespersons can assess their progress, determine their operation efficiency, and know which areas require more effort. Feedback is essential in marketing because it shows sellers the effectiveness of their chosen strategies (Martin, 2019). Positive responses act as a motivating factor for them, while negative ones provide an opportunity for improvement. Additionally, data analytics shows whether a company achieved its key performance indicators (KPIs). Examples of KPIs include sales growth, website visits, social media reach and engagement, and blog post visits (Klipfolio, n.d.). In summary, by using data analytics tools, marketers can evaluate their products’ performance and impact on the market.
References
Klipfolio. (n.d.). Digital marketing metrics and KPIs. Web.
Knippel, E. (n.d.). What is data-driven marketing? How to use smart data to deliver a higher marketing ROI. Adverity. Web.
Martin, N. (2019). Why utilizing data in your digital marketing strategy is so essential. Forbes. Web.
McGaw, D. (2020). The importance of analytics in digital marketing. UTM. Web.
Young Entrepreneur Council (2019). Eight reasons why customers don’t open your emails (and how you can fix it). Forbes. Web.
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