Marketing Automation platform-Things to consider when selecting a platform part 4. Analytics
Analytics is the process of evaluation and measuring all your marketing activities. This is where the science part come in (need a skilled marketer to run proper analytics) and where you actually can point to a specific ROI or outcome.
Standard platform offering:
Web analytics – this will give you a complete breakdown of; why/how prospects get to your site, what pages they visit, and revisit frequency. If a visitor is not in your database you can often still see from which company they visited (this information can be passed on to your sales reps). When your visitor already registered in your data base, you can track their wider web activity.
– a good platform will have custom and standard reports for you to easily pull out as well customer behavior tracking.
More advanced platforms will offer:
ROI analytics- This lets you measure performance by channel or campaign in terms of Revenue, Pipeline, Investment and New prospects. This helps you determine which marketing efforts generate the best results and then let you double down on these ones.
A few platforms will also offer:
SOE analytics – This will give you an idea how your company ranks on different key words on your local search engine.
Multi activity revenue allocation – since you might run different marketing activities at the same time it’s usually a combination of these activates that lead to sales. However different activities can have stronger or weaker influence on the pipeline. A strong platform can assign credit to each activity as the customer moves along the sales funnel.
There are of course more functions and capabilities out there that we haven’t covered, however those in part 1-4 of this series, are the main ones. Having all the functions and capabilities will of course only get you so far if you can’t fully utilize them by yourself.
Just as there are many platform providers out there, there are also many dedicated agencies that can help your run your marketing activities. Some agencies will offer a wide range of services with emphasis on creative content.
Some will recognize that your company already have internal resources and focus on helping you execute effective campaigns and fully utilizes your platform (or provide access to their own platform).