Top 5 Marketing Analytics Strategies For Your Business

Why do marketing analytics solutions matter more than ever?

As Jay Baer, a noted marketing expert and scholar once said - "A successful marketing strategy is not about being everywhere, but about being where it matters most."

This has never been truer especially when the 2020s delivered 10 years’ worth of e-commerce growth in months. This influx of digital technologies has transformed marketing and with it, the way we reach and engage customers especially when the domain of marketing has been fundamentally changed.

However, there are challenges. It is not in how to do modern data-driven marketing but in figuring out the best way to do it.

According to a survey of senior marketing executives published in the Harvard Business Review, “more than 80% of respondents were dissatisfied with their ability to measure marketing ROI.” It happens because of two major reasons:

#1 Typically, marketing processes tend to span across several different channels but deriving a unified intelligence by accessing the data scattered in multiple siloes is still a challenge. This means that the marketers are looking at disconnected pieces of data. Even though, 98% of marketers recognize the importance of having a comprehensive, centralized view of all cross-channel marketing, still whopping 71% of marketers still evaluate cross-channel marketing performance in silos.

#2 Despite the emergence of several platforms and technologies that can streamline marketing analytics workflows, it remains a challenge for companies to build concrete, actionable data analytics solutions for marketing efforts. However, the intelligence derived from marketing analytics allows you to spend each dollar as effectively as possible.

The good news is It may seem daunting but it’s still possible. It just requires a different approach.

Gone are the days of instinctive marketing. Consumers are bombarded with messages and information across an ever-expanding array of channels. Unlike newspapers and magazine advertisements, digital campaigns leave behind a tonne of digital footprints in terms of valuable data points that a marketer can use to understand what areas are performing well, and what are not, by measuring the impact of your initiatives and campaigns.

This is where the role of marketing analytics has emerged as an essential component of digital marketing strategy to measure and optimize marketing efforts.

With an integrated marketing analytics plan, you can build a solid architecture to bring the diverse data points into a common repository and build a reporting layer on top of it to gain a single source of truth to important business KPIs, such as understanding the contribution of your marketing campaigns to your bottom-line revenue growth, creating a bigger impact, and proving value to the stakeholders.

Keep reading to let’s find out five key strategies that will transform your marketing game.

5 Marketing Strategies for Your Business

By developing an effective marketing analytics strategy, you can optimize your campaigns, understand which of your ideas are working and which are not working so well, identify the gaps, diagnose your problems, and figure out what corrective measures you can take to address them.

1. Marketing Mix Modelling (MMM) for multi-channel optimization

In the era of seamless consumer experiences, multi-channel retailing has become the norm. Customers interact with brands through numerous touchpoints, transitioning effortlessly from physical stores to online platforms and social media. While this offers greater opportunities for engagement, it also poses a challenge in accurately assessing the impact of various marketing initiatives.

Marketing Mix Modelling powered by AI addresses this challenge by providing a holistic view of marketing effectiveness across channels. Let's understand this better by talking about Coca-Cola’s MMM strategy.

As a global brand, Coca-Cola deals with diverse marketing campaigns. By analyzing data across TV ads, social media marketing, and in-store promotions, they discovered that social media marketing significantly influenced brand awareness, while in-store promotions drove higher purchase intent. This data-driven approach allows them to allocate resources more effectively, maximizing campaign impact across all channels, both online and in physical stores.

2. Cost Optimization with Revenue Growth Management (RGM)

While understanding the cross-dimensional complexities of effective marketing and sales initiatives is crucial, the ultimate goal is to translate these sales and marketing efforts into profitability.

Especially at a time when consumers have a high tendency to switch and competition is fierce, the margins can be particularly sensitive. Developing new products, adapting marketing strategies, and entering new markets all require investment. This leads to a cycle of cost-cutting and budget reallocation.

P&G’s initiatives focus RGM on optimizing pricing and promotional investments to maximize profitability while ensuring competitive pricing in the market.

Through the strategic use of data analytics and AI/ML-based RGM models, P&G now can identify opportunities for cost savings, improve pricing decisions, and enhance overall revenue performance disrupting the cycle which promotes a more enduring perspective on avenues for growth that aligns with the needs of consumers and organizations.

3. Seamless customer journey with Omnichannel

Customers now understand the importance of the data which they provide. It is clear now more than ever that if the customer is providing the company with their data, they expect the company to provide them with a consistent and connected brand experience across all touchpoints, both online and offline. Lacking basic omnichannel capabilities (e.g., pick-up in-store; online store inventory check) or even more advanced marketing campaign personalization (e.g., based on demographic and behavioral attributes) will lead to missed expectations, unsatisfied customers and ultimately, lost sales.

This is where using customer analytics acts as a window to your customer preferences, journey, and behaviour. By analyzing customer data, you can understand how they respond to different tactics. Think of customer analytics as a business for connecting with the target audience. It gives organizations direct insight into the customers' behaviors and patterns, allowing them to deliver content, communications, and solutions that meet the precise needs better than competitors. By doing so organizations can improve their strategies, which can help them grow their sales by extensively improving the marketing campaigns with relatively minor changes that cater to the audience.

4. Holistic campaigning with digital marketing analytics

Customer reviews and feedback have become a gold standard for judging a campaign’s performance. While traditional advertising like newspapers and magazine advertisements, creates a one-way communication channel, digital marketing offers a crucial advantage of direct customer feedback.

Unlike traditional marketing campaigns, digital campaigns leave behind a tonne of digital footprints in terms of valuable data points which a marketer can use to understand what areas are performing well, and what is not, by measuring the impact of your initiatives and campaigns.

For a holistic view of campaign performance, marketers should combine this data with other digital marketing analytics tools:

• Website Traffic Analysis: Understanding where your website traffic comes from, how visitors interact with your site, and conversion rates provides valuable insights into campaign effectiveness.


• Social Media Analytics: Track post reach, engagement rates, and brand sentiment to understand how your audience interacts with your social media presence.


• A/B Testing: By testing different variations of marketing elements (headlines, call-to-action buttons, landing pages), you can identify what resonates best with your audience, further optimizing your campaigns.

5. Generative AI for personalization marketing analytics strategy

Over 70% of CMOs are already experimenting with generative AI—focusing on personalization, marketing operations, insights and innovation”

The widespread use of generative AI is not unexpected. Imagine being able to conduct personalized experiments for every customer at scale, all while maintaining control over strategic decisions. That’s the power of Generative AI.

This goes beyond mere automation of repetitive tasks. Generative AI acts as an extension of a marketer's intuition - creating content that connects with each customer on a personal level allowing the creation of personalized product recommendations, pricing strategies, and targeted incentives.

This allows for a powerful combination: the efficiency of automation with the human touch of personalized marketing.

Marketing Analytics Strategy

To set up a practical marketing analytics framework within your organization, you must have the right processes along with investing in the right technology platforms to capture data-driven strategy and deliver unified and consistent information on your measurement metrics.

At Polestar Solutions, our team of analytics solution architects and visualization experts can help you gain deep insights into your marketing activities so that you can increase the efficiency of your marketing efforts and spending.

Get in touch with our experts today to start your journey towards better marketing with world-class marketing analytics solutions customized for your business.