10 ways you can use digital marketing statistics successfully!
Digital marketing statistics are important in marketing because you can use them to understand market trends. Even better, you can also utilize them to measure and evaluate either the potential marketing programs or the success of marketing programs.
The trick to successful marketing is to identify your target audience and use effective marketing communications platforms and strategies to reach it. This is the reason why digital marketing statistics can help you to achieve your goals, evaluate the success of your marketing initiatives, and get data that you can use to adjust your marketing programs. This post explains how you can use digital marketing statistics successfully.
How to use digital marketing statistics
You must know how to use digital marketing statistics properly. You can only get the desired marketing results if you know exactly what you are doing. That said, below are some of the uses of digital marketing statistics:
#1. Data source
The most basic use of digital marketing statistics is as a source of credible data. You can have statistics that have demographic information like the number of potential customers in a specific geographical area, income levels, ages, and consumer preferences.
Digital marketing statistics can be used as part of competitor analysis to identify your major competitors, product trends, and market share. Keep in mind that industry sector data can help you to understand the trends that are affecting the supply and demand of your product category and changes in its popularity.
#2. Marketing mix modeling
Marketers use the marketing mix modeling to identify the right combination of their marketing communications channels. In this way, they can devise tactics to reach their target market and offer the best return on their marketing investment.
Marketing mix modeling is designed to analyze information and uses statistical regression to find the effectiveness of sales in the market. The formula for modeling involves creating a model that uses sales volumes and value becomes a dependent variable. So you can use various marketing channels to stand for the independent variables.
#3. Market tracking
Digital marketing statistics can also be used in market tracking to analyze and measure brand loyalty, customer satisfaction, and support. Besides this, you can also use it to analyze the relationship of your business with its customer satisfaction.
You can implement a market-tracking program by accessing your business and the industry stats. So the tracking program will analyze the sales statistics of the brands on the market to determine which one is enjoying the highest level of customer loyalty and support.
#4. Cross-sell parameters
Digital marketing statistics can also come in handy when you want to target customers for personalized promotions. Therefore, you can use household parameters by using the loyalty card that records all purchases made on a specific product.
Ideally, you can analyze the stats produced by these records to identify households that can buy a particular product but don’t purchase the other products. In this way, you can target the households as your potential customers for new products that you intend to introduce into the market.
#5. The top digital marketing statistics
Now that you understand how you can use the digital marketing stats, it’s important to know some of the statistics that you can use. Here are some of the digital marketing statistics that are available”
#6. Mobile marketing stats
No doubt, mobile has become popular for many people because it makes it easy to access the web. Therefore, you need to make sure that you meet your users’ expectations across several devices. Unfortunately, many businesses are still running short on mobile marketing because of poor or aggressive advertising techniques, bloated websites, and many other bad habits. So make sure that your site is mobile friendly and can be accessed on multiple devices.
#7. Search marketing stats
Changes in digital marketing have seen search becoming one of the factors that can determine the success of your business. You see, you need to do Google algorithm updates if you want to stand a chance of satisfying your customers.
For example, there is now voice search and Google continues to favor its products and ads rather than organic listings. There is also a high demand for visual content and users prefer long-form written content. You need to consider all these search marketing stats to succeed in this competitive business world.
#8. Email marketing stats
While there has been a rise in newer marketing strategies, such as social media and content marketing, emails continue to be the best option for generating new leads and convincing customers to repurchase your products.
As you can see, the email marketing strategy will not go away in a while. Therefore, making email lists should be your valuable marketing asset and make sure that you optimize open and conversion rates.
#9. Content marketing stats
Creating great content can be hard for every business considering that users are always demanding the specific content they would like to read or view. Hence, you need to invest in content marketing to see the benefits of your marketing investment. So ensure that you plan and execute properly your content marketing that is more effective to satisfy your target market.
#10. Social media marketing stats
Social media has changed the way companies do their marketing. With the right marketing strategy, you can realize quick results. Unfortunately, many brands are fighting for the same space on social media, making it hard to stand out from your competitors.
Because social media is an ideal content publication tool, you should make sure that you develop the right marketing strategies to communicate with your customers. However, social media marketing is not a quick fix to get marketing results, meaning it can take time to see positive results.
The key is to know the right social media platforms to use and what type of content you need to publish. Better still, you should find ways to get your product on social media so that the right audience can see it, so prepare to have the right social media advertising for your products.
There is no shortcut to succeed in business. Therefore ensure that you use the proper social media platform to communicate with the right audience.