Marketing analytics software encompasses tools and processes which enable an organization to manage, evaluate, control, analyze, and leverage its marketing efforts by measuring marketing performance. In short, these solutions simplify and optimize a business’ marketing strategies and activities.
With the use of marketing analytics software, businesses are able to improve their return on investment (ROI) as the software allows businesses to identify effective marketing methods. Marketing analytics considers all marketing efforts across all channels and audiences, collecting insights into customer preferences and history.
Marketing analytics products analyze a business’ marketing initiatives over time and across various channels, allowing for better, more successful marketing. These tools exist as either open-source or customized, proprietary solutions. Marketing analytics software is bolstered by SEO software and these products regularly integrate with marketing automation software, CRM software, content marketing software, and digital analytics software.
Marketing analytics solutions assess data solely from marketing tools, and their core functionality is to analyze marketing campaign–oriented information. Some companies opt to use business intelligence software and self-service business intelligence software instead, which can also provide insights into company data from a variety of other sources in addition to marketing data.
To qualify for inclusion in the Marketing Analytics category, a product must:
- Collect data on marketing campaigns distributed across a variety of media channels
- Monitor marketing campaigns and targeted audiences to identify the results
- Analyze the results and compile data of marketing campaigns
- Integrate with sales, marketing, and other analytics software through which users can source marketing data
- Visualize marketing campaign performance via an analytics dashboard or similar visualization