Best Marketing Analytics Tools include:
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Marketing Analytics Tools Overview
What are Marketing Analytics Tools?
Marketing Analytics tools help marketers measure and manage marketing performance. The goal is to maximize the effectiveness of marketing activities and justify the investment. In other words, marketing analytics tools help marketing teams both improve their efforts and prove their worth.
Tools can gather data from all channels in the marketing mix, and report on them together. They allow marketers to create reports without relying on data scientists.
Marketing Analytics tools support things like:
Marketing mix modeling
They address the three key areas of marketing performance management, which are optimization, attribution, and justification.
Ultimately, dashboards provide a view into how marketing efforts impact the bottom line. This benefits marketers as well as executive leadership.
Marketing Mix Modeling
Any Business Intelligence tool can handle the multivariate regression analyses needed for marketing mix and attribution models. But marketing analytics platforms allow marketers to interpret the data themselves.
Here’s how it works:
Cross-channel marketing efforts are analyzed in terms of dollars spent, time spent, and results.
Mixed or omni-channel KPIs are created.
The tool then measures campaign performance against target goals.
The report finally directs marketers’ decisions about how to optimize efforts. Often this is by redistributing time and money to the most successful campaigns.
Marketing Analytics Tools Features & Capabilities
Marketing Analytics tools might include the following features and capabilities:
With-in Campaign, With-in Company, and Cross-channel campaign comparisons
Optimization & predictive analytics
Customer analytics & segmentation
Revenue funnel analysis
Types of Marketing Analytics Tools
There are a few different types of vendors that offer marketing analytics capabilities. First, there are point solutions specializing in marketing analytics.
Some web analytics platforms offer viable marketing analytics capabilities. This includes Adobe Analytics and IBM Digital Analytics. Google now offers an attribution tool via its acquisition of Adometry.
Other vendors may handle just one part of marketing analytics.
Some SEO and marketing automation tools offer decent marketing analytics as part of their broader platforms. Many BI and predictive analytics products are just a module or add-on away from entering the marketing analytics space in the future. Some marketing analytics tools support an account-based marketing approach.