Colorado Marine Officer

Posts Tagged ‘Marketing analytics’

Marketing analytics provides the overarching framework for understanding how a specific Internet marketing strategy is resonating with a given target audience. At the aggregate level, analytics provide insight into how the awareness, direct response, and relationship marketing programs are working. In addition, analytics show the audience segments that are and are not engaged, and the resulting economic and quality metrics being realized.
Analytics inform major decisions, such as advertising spend and messaging, along with tactical elements, such as the RM segments to target and the types of offers that are working. Three types of analytic databases are developed within a campaign: psychographic, demographic, and behavioral. These databases can be used separately or combined to analyze questions such as how many people 45 and older (demographic) who are not currently being treated (psychographic) viewed a specific physician video on a health site (behavioral) and became a patient.
Typical analytic questions are efficiency (how to reduce cost per action), effectiveness (how to increase quality or
quantity of resulting patients in terms of persistency), and competitiveness (how does an advertiser’s campaign compare with others in the industry or competition). Analytics seek to understand the customer’s behavior so that it can be changed or exploited by relationship marketing.