Data is the best friend for every marketer. Without data, a marketer cannot know what is working well for his campaigns, diagnose potential problems, and determine the areas to focus his efforts on.
However, all data are not equal, and knowing the metrics to monitor can mark the difference between success and failure. Marketers have access to dozens if not hundreds of marketing analytics tools.
Some of these tools are available for free and they do one thing well while others require users to pay a monthly subscription fee and they offer a wide range of functionalities. All of these tools promise you the ability to process your data and extract insights from it, but which ones are worth your consideration?
You will be looking at the following:
- Why Do you Need Marketing Analytics Tools?
- The Best Marketing Analytics Tools
Why Do you Need Marketing Analytics Tools?
Digital marketers should have a way of managing and measuring the performance of their marketing campaigns. This is exactly what marketing analytics tools help them to achieve. Marketing analytics tools help marketers to improve their efforts and prove their worth. Their goal is to make marketing activities more effective and justify the investment.
Marketing analytics tools are capable of gathering data from all channels in your marketing mix and report on them together. They make it easy for marketers to generate reports without relying on data scientists, track campaign success, and perform competitive analysis. Marketing analytics tools will capture and track the following data regarding your marketing campaigns:
- Website visitor data
- Customer touchpoint / event data
- Paid campaign performance data
- Customer purchase data
- Email marketing data
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It provides a consistent & reliable solution to manage data in real-time and always have analysis-ready data in your desired destination. It allows you to focus on key business needs and perform insightful analysis using BI tools such as Tableau and many more.
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The Best Marketing Analytics Tools
Here is the list of the top marketing analytics tools that you can consider incorporating into your marketing strategy:
1. Google Analytics
This is a basic and free website analytics tool provided by Google. You can use it to track the traffic on your website, know where your web visitors are coming from, how they came to know your website, the amount of time they spent on your website, etc.
Google Analytics can also be integrated with other tools like Google AdWords and Google Data Studio for a deeper analysis of your marketing data. However, it is complex to define and track new conversions, and it doesn’t provide an option to track individual user sessions and know how users actually use your site.
The basic version of Google Analytics is free and is fit for most companies. It also comes with a premium version that costs about $100K annually with advanced data analytics capabilities and full support from Google.
The goal of MixPanel is to track the events on your website, mobile app, or product. This way, you can know what users are doing on your mobile app or website.
Once you add an event to MixPanel, you will see the trends, count, the users who used them and in what order. It also offers funnels and A/B testing for different versions of your mobile app. MixPanel expects you to add the events that you need to track and focus on.
You can do this using a visual selector or by adding code annotations. After the selection, the events that you want to track will be shown on your dashboard and the metrics of choice will be presented. It offers a free Starter plan and two other plans that require you to pay a monthly subscription fee.
3. The AdWords Performance Grader
PPC is a common way of reaching new customers and growing businesses among marketers.
However, there are many factors that will determine your success as a PPC marketer. It can even be overwhelming to determine the right areas to which you should pay attention. That’s why PPC marketers need AdWords Performance Grader.
The Adwords Performance Grader helps you evaluate the strength of your Google Ads account quickly and securely. Once the tool has performed an audit of your account, it will give you a detailed report that shows the strengths and weaknesses of your account.
This can help you know the account elements that need more work. You can use this tool for free.
4. Heap Analytics
Heap is a web and mobile analytics tool, with similar functionalities as MixPanel. Heap Analytics helps you track all the activities taken by your website visitors. You can also use it to select the events that you need to analyze and preview on your dashboard. It can help you to track the individual user behavior and segment users based on their behavior.
It has a free plan and two other plans that require you to pay a monthly subscription fee.
Cyfe is an all-in-one dashboard that allows marketers to integrate data from various marketing tools and see all of it in one place.
You can use it to track data from all your social media marketing platforms, sales platforms, pay per click marketing channels, and others. It has pre-built widgets that you can use to connect to Google Analytics, Google AdWords, and SalesForce accounts.
Cyfe can then collect all the data that you need from these platforms and display it on one dashboard. Cyfe has a free plan and three other plans that require you to pay a monthly subscription fee.
Klipfolio is a dashboard software that allows its users to create interactive dashboards that can host marketing-related data from various tools and channels.
You can use it to pull data from Facebook or Google Analytics, which is good for tracking your performance and seeing all the data in an integrated dashboard. It comes with pre-built templates of dashboards that you can use without having to create your own from scratch.
However, you can still create your own dashboard that will help you meet your needs. If you have many marketing channels and you need to monitor their data in one dashboard, use Klipfolio. It has 4 pricing plans that require you to pay a monthly subscription fee. These plans majorly differ based on the size of teams.
Optimizely is a good tool for carrying out A/B tests on web pages and products to know which version is the best.
The A/B tests can be visual or textual, and Optimizely makes it easy for you to change the design of the pages without changing the code. It can also be integrated with other analytics tools like Bizble, Google Analytics, and Clicktale. Such experiments make it easy for you to track your Optimizely experiment results in other dashboards together with additional data segmentation.
It is a good tool for any marketer who cares about the performance of his website and online marketing results. Its A/B testing capabilities can help you know how to better convert your users and increase your ROI. It has different pricing plans that are based on traffic needs.
SEMrush is a marketing analytics tool that can help you see what your competitors are doing.
It can provide you with a way to outrank your competitors in search results and offers its users with a simple way to monitor their competitors’ social media accounts, brands, etc.
You can also use it to track your own brand. SEMrush has an analytics reports tool that shows the keywords that your competitors are using in their AdWords campaigns. You can also use it to analyze the keywords that you want to use in your ad campaigns to know how competitive they are.
It is a good tool for marketers who need to increase their search engine traffic and monitor their competitors’ activities. SEMrush offers 3 pricing plans, with the cheapest plan costing $99 per month.
BuzzSumo is a versatile content and social media analysis dashboard that provides its users with data about the topics that are trending on the major social media platforms. It allows you to analyze data from a range of different time periods, like for the previous 12 hours or spanning many months.
This way, you can now the topics in your industry that are getting the most social traction. It also offers advanced keyword search operators, backlink information, content type filters, and influencer marketing features. You can then export the data into another format and analyze it to a greater depth.
It has three pricing plans, with the cheapest plan going for $99 per month.
It is a social media analytics software that allows you to see the performance of social media ad campaigns through a series of simple dashboards.
One of the major advantages of using this tool is its real-time reporting functionality, which gives up-to-the-second data regarding who is engaging your content on social media and how. It also lets you see your most engaged fans and followers, and gives you recommendations on how to reach these brand ambassadors, as well as how to customize your social media content for a greater engagement. It offers different pricing plans, with the cheapest plan costing $9 per month.
Although marketing analytics tools help you gain insights from your marketing data, they are associated with a number of challenges.
These challenges include the following:
Most marketing analytics tools require users to pay a monthly subscription fee. Their free trial plans only last for short periods of time and offer a limited number of features.
2. Real-time data
Majority of the marketing analytics tools don’t allow their users to pull data from their digital marketing platforms in real-time.
In this article, you learned the reasons as to why you need marketing analytics tools. You’ve also seen the best marketing analytics tools that are available out there. Take your pick today.
Analysis results are improved if you integrate your data from multiple sources. If you’re looking for an all-in-one solution, that will not only help you transfer data but also transform it into analysis-ready form, then Hevo Data is the right choice for you! It will take care of all your analytics needs in a completely automated manner, allowing you to focus on key business activities.
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