What Is Digital Marketing Analytics?
In today’s world, two of the most ubiquitous careers are in marketing and data. Regardless of the sector or specific company, nearly every brand, regardless of size, tries to expand its reach to get its product or service into the hands of new customers. Most businesses use data marketing analytics as a way to achieve this goal.
The main goal of digital marketing analytics is to gather, analyze, and expound data through marketing channels your brand uses. General marketing analytics can vary between analyzing traditional and digital marketing methods, but in the era of digital savviness, it’s much more common to examine digital marketing data through social media platforms, affiliate marketing sites and even email marketing campaigns.
Considering the broad reach and ubiquity of these channels in the world today, across both professional and private sectors, it should be no surprise that digital marketing analytics are incredibly useful in many fields.
How Is Digital Marketing Analytics Data Used?
Digital marketing analytics are used in a wide variety of ways. Many people may not even realize they interact with this data daily. Everything from Facebook likes and Twitter retweets, to direct sales and conversion data are all different types of digital marketing analytics data.
However, despite the depth of data types and uses, there are some standouts most commonly seen today.
Collecting and Interpreting Data
Before digital marketing analytics data is implemented in any sort of practical way, that data needs to be collected and interpreted. This requires someone who understands the marketing channel where the data was found, as well as what that data means to give the most useful and accurate interpretation.
Here are some of the primary channels in which digital marketing analytics data is collected and interpreted:
- Social media (Facebook, Instagram, Twitter, LinkedIn, etc.): Every interaction within your social media audience can share valuable insight, both into who your customers are and how effective your messaging currently is.
- SEM (Search Engine Marketing): Using Google Analytics and other tools to track the performance of display and search ads is vital to running effective campaigns.
- SEO (Search Engine Optimization): To make sure your online content reaches the strongest and largest possible audience online through search engines, you’ll need to interpret keyword, competitor, and customer data.
- Email: This channel of data involves examining open and unopened email rates, email click-through rates, and effective methods of customer retention. Ultimately, it can make the difference between a successful email marketing campaign and a failed one.
- Affiliate marketing sites: This data involves understanding where your customer is coming from online and what drove them to your company. With this in mind, you can recreate the same desired result at an increased scale to grow your business.
- Customer sales and retention data: In today’s world, it is not enough to land a single conversion. Instead, it is much more important to understand how to transform a one-time sale into a repeat customer with brand loyalty.
Influence and Modify Marketing Strategy and Campaigns
After digital marketing analytics data is collected and analyzed, it must be implemented. Otherwise, all the effort spent collecting and interpreting that data was for naught, and the brand won’t grow as a result.
There are nearly countless ways to implement this data, but here are some of the most common methods that digital marketing analytics data is used to influence and modify overall marketing strategy as well as specific marketing campaigns:
- Buyer persona creation:
- Customer retention.
- Competitor analysis.
- Sales optimization.
- Website design and improvement.
How To Start a Career in Digital Marketing Analytics
The benefits of making a career out of digital marketing analytics are myriad. It’s a great way to stay up-to-date with online trends, and you get to see the fruits of your labor: raw data being used to make improvements in a business’ short or long-term strategies. However, to capitalize on these interests, you must have the skillset and education required.
Required Skills for a Digital Marketing Analytics Job
Here are some common skills required in digital marketing analytics jobs today:
- Detail-oriented: Many times, digital marketing analytics data might seem entirely inscrutable to someone without the right attention to detail and ability to gather meaning from minutiae.
- Analytical: For digital marketing analytics data to be truly meaningful, the person involved with processing that data must be able to understand what the data means and connect the necessary dots.
- Data-driven: This may seem obvious for digital marketing analytics to necessitate a data-driven approach, but there are many times when data may go against what you may believe intuitively. Trusting the data and following it through to its results is important for effectively implementing digital marketing analytics data.
- Patient: Sometimes it takes time for changes implemented to yield results, so patience to see your strategies implemented through to their conclusion is essential.
If you are looking to start a career in digital marketing analytics, one of the best routes you can take is pursuing a college education in a related business field. Like the specific approaches to digital marketing analytics itself, there are many diverse education paths available to someone looking to start a digital marketing analytics career.
Depending on your desired approach, you can either take a more generalized look at business by pursuing a degree such as an MBA in Digital Marketing or an MBA in Marketing then use that lens to look at digital marketing analytics. However, you can also take a more analytics-specialized path with degrees such as an MBA in Business Analytics or an MS in Digital Marketing Analytics.
What Jobs Are Available in Digital Marketing Analytics?
Since the processes and strategies involved in digital marketing analysis — as well as the way businesses use them — are so varied, the same variation exists within the jobs available in the digital marketing analytics field. Here are some common examples of jobs available:
- SEO Specialist;
- Marketing Manager;
- Market Research Analyst;
- Brand Manager;
- Business Analyst.
With more and more businesses realizing the potential in expanding their digital marketing reach, more jobs will become available within the field. According to the Bureau of Labor Statistics, a standard market research analyst, which is just one example of a profession that utilizes digital marketing analytics, makes an average pay of $63,920, and the field is expected to grow an additional 22%.
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