The Rise of Marketing Analytics | Involved In The IT World!

Marketing, sales, and data analytics are constantly used by any company that operates digitally. More often than not, these are terms that are always used together. Earlier, marketing was mainly advertising to drive sales. Sales used to be on-ground efforts and building B2B relationships to push out products and build a name for the organization. Data analytics did not even exist in most companies beyond recording and tracking inventory for products. Data analytics was mostly involved in the IT world. 

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So what has changed in recent years? 

Well, the simple answer is a lot. Since the internet became more accessible to all, and most people started using it to build, buy and develop their products, the physical world started to seem smaller for all companies, and they directed their attention to the digital-dailywold.  

In-person, the number of interactions and sales an organization could have, and the impact or value they could create would only be based on the location and popularity of the store within their immediate surroundings. Unless you were a multinational corporation or provided a service that was unique to you, there were high chances of you reaching out to create multiple sources of income.  

Then, people started selling stuff online. Online sales began to grow, and corporations realized the value they could create through a digital platform. What does this mean for a company-dailywold? 

A digital or online presence gave companies access to a global consumer base. They could attract or reach out to potential customers from a different continent altogether, forget building to reach out to other cities within your state. The world was their consumer base. This drove marketing and linked sales closely with it. Obviously, if they wanted to attract an audience overseas, they had to invest in proper marketing and advertising efforts, build digital strategies, and target their consumers-dailywold. 

So the companies started building consumer strategies. Soon enough they realised, this had a number of problems that came with it. First, they did not exactly know who their audiences were. Sure, they knew the general market, and who would buy it, but they didn’t know the type of person in a different or specific region they were trying to reach. If companies do not know who they are selling to-dailywold, how are they supposed to sell? 

The second problem

It was with their target audience’s buying habits. It’s easy to make a generalised statement and say that product ‘A’ is ideal for consumer ‘B’, and ‘C’, ‘D’, and ‘E’ are the things they like the most, whereas ‘F’ is the thing they disliked the most. Each region has different types of people, even though your general user age group and profession might be the same. For example, people in the USA will have extremely different user personalities than people in South Africa or Indonesia. All three countries could benefit from the product or service-dailywold from a single organisation, but what will get them to convert from leads to sales is probably going to be something very different.  

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This is when companies realised that they had to collect and utilise the data they have on their existing consumers and their potential customers. That is when data analytics got added to the sales and marketing mix.  

Data analytics soon became the leading cause behind successful marketing strategies, lead conversions, and revenue gains. Marketing analytics consulting became a viable career option for many. Companies who provided valuable insights to their clients through their marketing analytics services-dailywold became a phenomenal success. They could tap into all user data, collect information on their potential target audiences, and find out actionable insights about their buying and spending patterns.  

Companies began to understand their consumers from all over the world better, so they started developing marketing strategies that would cater to their individual needs. They needed data to understand their users’ likes and dislikes, build user personas, research competitors, develop effective marketing strategies, track sales, as well as get analysis on what strategies would work for them and which ones would not.  

 Conclusion 

The rise of marketing analytics services created a lot of jobs. It created value for the user data the companies were getting. The data became a commodity of its own. Companies used it to form all their business decisions, because they were based on the consumers. Companies started developing brands and products that their consumers would find helpful-dailywold. Instead of creating use of already built products to new customers. Marketing analytics consulting changed the entire approach by which people made and sold products. This trend is expected to last a lot longer, and become even more consumer-centric.  Especially with the introduction of smart technology, powerful AI and machine learning tools, the IoT,