Unit1_Session1_MA.pptx Notes PPT Unit 1Complete

Marketing analytics is the process of collecting and analyzing data from marketing efforts to understand performance, measure the return on investment (ROI), and gain insights into customer behavior. By applying analytical techniques and technology to marketing data, businesses can evaluate the success of campaigns, identify trends, optimize strategies, and make informed, data-driven decisions to improve customer engagement and achieve business objectives.
Key components of marketing analytics
Data Collection:
Gathering raw data from various marketing sources, such as website traffic, social media engagement, email open rates, mobile app usage, and conversion rates.
Data Analysis:
Employing analytical processes and tools to clean, process, and interpret the collected data to uncover patterns, correlations, and trends.
Insight Generation:
Translating the findings from data analysis into actionable insights that help marketers understand what is working, what isn't, and why.
Strategy Optimization:
Using these insights to refine marketing campaigns, allocate resources more effectively, and improve overall marketing performance.
Performance Measurement:
Tracking key metrics to evaluate the effectiveness of marketing activities and demonstrate their contribution to business goals and ROI.
Why marketing analytics is important
Improves ROI:
By identifying the most effective channels and campaigns, businesses can optimize their spending and increase their return on investment.
Enhances Customer Understanding:
Analytics provide deep insights into customer preferences and behaviors, allowing for more personalized and relevant marketing.
Drives Data-Driven Decisions:
Instead of relying on guesswork, marketers can make strategic decisions based on concrete data and evidence.
Facilitates Campaign Optimization:
Marketers can quickly identify underperforming campaigns and make necessary adjustments to improve their effectiveness.
Boosts Revenue Growth:
Ultimately, optimizing marketing efforts and improving customer experiences leads to increased profitability and business growth.
Example metrics
Conversion Rate:
Measures the percentage of visitors who complete a desired action, such as making a purchase or signing up for a newsletter.
Bounce Rate:
Indicates the percentage of visitors who leave a website after viewing only one page, signaling a need to improve content or user experience.
Social Media Engagement:
Tracks likes, shares, comments, and other interactions on social platforms, showing how audiences are connecting with the brand.
Click-Through Rate (CTR):
Measures how often people click on a link or ad, indicating the effectiveness of ad copy and targeting.

1. MARKETING ANALYTICS (KMBMK05)- Session 1 Dr . Ajay Singh Department of Business Administration ABES Engineering College, Ghaziabad

2. Marketing Analytics https://www.youtube.com/watch?v=-oHGG5jJPHQ Marketing Analytics is the practice of measuring, managing and analyzing marketing performance to maximize its effectiveness and optimize return on Investment(ROI). Marketing analytics involves the technologies and processes CMOs and marketers use to evaluate the success and value of their efforts. As such, marketing analytics uses various metrics to measure the performance of marketing initiatives. Effective marketing analytics gathers data from all sources and channels and combines it into a single view.

3. Marketing Analytics Teams use the analytics to determine how their marketing initiatives are performing and to identify opportunities for improvement. It is difficult to determine the effectiveness and return on investment (ROI) of your marketing campaigns without marketing analytics . https://www.ngdata.com/what-is-marketing-analytics

4. Characteristics Ensure high quality data Get real time insight Perfect your dashboard Choose the right analytics visualization Use a tool featuring machine learning and AI to predict and prescribe https://theintactone.com/2020/01/19/marketing-analytics-meaning-and-characteristics/

5. Advantages of Marketing Analytics See the big picture of marketing trends Identify which programs work and why Monitor trends for a given period and over time Understand the ROI of each program thoroughly Forecast results

6. Disadvantages of Marketing Analytics Misidentifying  Market  Needs. Evaluating  Market  Growth without  Market  Share . Market  Segmentation Versus Target Markets. Improper Interpretation of Data . https://theintactone.com/2020/01/19/advantages-and-disadvantages-of-marketing-analytics/

7. Activity-1 In the Store Sales Data Use a PivotTable to break down the total revenue by month and calculate the percentage of sales that occur during each month. StoreSales.xlsx Video https://www.coursera.org/learn/excel-data-analysis/lecture/sXyXP/pivot-charts

8. Activity-2 The Makeup2007.xlsx file (provided) gives sales data for a small makeup company. Each row lists the salesperson, product sold, location of the sale, units sold, and revenue generated. Use this file to perform the following exercise. Summarize the total revenue and units sold by each person of each product. (2 points) Summarize the percentage of each person’s sales that came from each location. Create a PivotChart to summarize this information. (2 points) Summarize each girl’s sales (in both units and dollars) by location and use the Report Filter to change the calculations to include any subset of products. (2 points)

9. Activity-3 Use different Excel function to summarize Store Sales data AVERAGE,STDEV,RANK,PERCENTILE and PERCENT RANK COUNTIF,COUNTIFS,SUNIF,SUMIFS,AVERAGEIF and AVERAGEIFS