Marketing is mainly a numbers game. In order to get an advantage over your competition, you will need to get as much insight into your marketing campaigns as you possibly can. The health and performance of your marketing strategies is best gauged when you zero in on the right data.
And given the fact that digital transformation continues to make rounds in the business landscape, it will not be a surprise that marketing analytics will take precedence next year. New tools and methods in digital marketing will definitely lead to new and better ways of interpreting data.
The year 2020 will highlight marketing analytics more as businesses continue to explore better and more effective ways of reaching their audiences across different channels. Let’s take a look at a few key takeaways you should know about:
1. Big data becomes bigger
Businesses are dealing with a lot of disruption, and 2020 will definitely be a year when innovation in marketing technology becomes even more sophisticated. New tools will prompt business owners to re-think the way they handle data. Doing so will require the use of the right analytics programs. Added to this is the ever-increasing popularity of cloud-based platforms that businesses can leverage as they generate more leads and aim for more conversions. This is also particularly useful in allowing businesses to redesign and upgrade their websites and optimize their search engine marketing campaigns for greater audience outreach.
2. Internet-of-things becomes too hard to ignore
As the business landscape struggles with digitization, enterprises will have to make the right decisions when it comes to handling the IoT. However, one barrier to this is the lack of knowledge that could affect the way businesses collect and interpret data coming from IoT devices. Accuracy and data relevance will be the main issues that can keep businesses from achieving total adoption. Because of this, businesses should employ people who have a good grasp of data science.
3. Social media tracking gets underscored
Social media will definitely comprise a bulk of the marketing efforts in both B2B and B2C sectors. Despite recent issues regarding data privacy and security, enterprises will still be spending a lot in automating their campaigns and coming up with more advanced methods of market research. The modern customer is someone who has access to tons of information sources, and businesses should focus more on how they can craft social media campaigns that emphasize brand-building and the delivery of relevant information.
4. AI’s continuing dominance
It’s no secret that artificial intelligence will play a big role in helping businesses realize their marketing goals. AI will point the way forward for businesses that want to streamline their operations with the help of their in-house staff. Of course, this will need the help of services such as AI Data Innovations, which specializes in using AI insights to support social media campaigns across the core areas of content planning, creation, distribution, and monitoring.
Marketing analytics will become even more crucial as the years drag on, so it’s only best for businesses to make time for understanding the numbers that matter to their bottom lines.