The use of Data Analytics as a tool to drive strategy and campaign budgets cannot be overstated. With the huge amounts of data generated on the web, with respect to not only the user behavior patterns in general but also very specific actions happening around your own product or service. With help of tools like Google analytics, you can figure out what works and optimize what doesn’t in your online presence. Data is everywhere you look, from facebook pages to google adwords, its what you do with the information that matters. Data analysis reveals stats like which demography is interested in your product, how much time they spend on your website, what kind of interactions are they having on it and much, much more.
Through Data Analytics, you can get to an exact estimate of Cost Per Lead through various campaigns like Email Marketing, PPC (pay-per-click) Advertising or Paid Promotions. Further, you can calculate how many of those successful leads are converted, which gives you the Cost per Conversion. Once you have these concrete numbers at your disposal along with neatly presented data in the form of graphs & charts, allocating marketing budgets would never be easier. Through meticulous planning, we increase spend on what is obviously working and optimize the stuff that is not. It also helps to clearly define marketing strategies that need be eliminated and thus defining clear focus areas.