Marketing Analytics Tools
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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.
Marketing analytics 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, as well as perform competitive analysis and track campaign success.
Businesses use marketing analytics tools and the dashboards they provide to address the three key areas of marketing performance management: optimization, attribution, and justification.
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.
Marketing Analytics Tools Comparison
Type of Tool: Some marketing analytics tools offer a complete suite of marketing analytics tools. Despite this, there are other products that cover only a specific facet of marketing analytics. Competitive analysis products, for example, focus on performing competitive analysis but may not offer customer journey or segmentation features. Be sure to select a tool that includes the features your business needs.
Automation Features: Many marketing analytics tools include automation features for performing analytics with less human labor. If your business is looking for a tool to reduce labor as much as possible, consider what automation features are offered by each marketing analytics tool.
Insights: All marketing analytics tools perform basic marketing analytics, but many also include insights on content optimization. For businesses looking for applications that will not only help them discover issues but also provide means of fixing them, consider what insights are offered by each marketing analytics tool.
DoubleVerify Pinnacle is a tool for monitoring and optimizing digital advertising performance across media properties. DV Pinnacle compares ad performance on each property based on number of impressions, viewability, fraud, and brand safety. It can be used by advertisers and agencies,…
OptimaHub from Equifax (formerly a Datalicious product) is a marketing attribution platform which is built around the study of the customer journey to better understand touchpoints that convert and de-emphasize those that do not. The platform can include in its analysis paid, earned,…
Digital marketing agencies and businesses use Whatagraph to save time and present analytics data in a way their clients and teams can easily understand. According to the vendor, key capabilities include:• Use visual reports to help you track and understand the data behind your website,…
Binary Fountain is an online reputation management platform for enterprises, healthcare organizations, and small and medium-sized businesses. Anchored in its Natural Language Processing (NLP) technology, the cloud-based platform mines customer and employee feedback from surveys, online…
Q Research Software, a division of Displayr, offers a predictive analytics application for marketers, designed to be easier to use by automating correct statistical to use, drag-and-drop interface for building models, and the ability to read many types of files (e.g. SPSS data files)…
Optimized Sales & Marketing is presented by the vendor, ORM Technologies, as an easy-to-use, cloud-based application that provides predictive analytics and optimization for sales and marketing. It integrates with Marketo and your CRM to provide a direct link between marketing…