Unit1_Session3_MA.pptxCompletenotesunit1

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 3 Dr . Ajay Singh Department of Business Administration ABES Engineering College, Ghaziabad

2. Stakeholders   Customers. Stake : Product/service quality and value. ... Employees . Stake : Employment income and safety. ... Investors . Stake : Financial returns. ... Suppliers and Vendors. Stake : Revenues and safety. ... Communities . Stake : Health, safety, economic development. ... Governments . Stake : Taxes and GDP. https://ctb.ku.edu/en/table-of-contents/participation/encouraging-involvement/identify-stakeholders/main

3. Stakeholders

4. Apply stakeholder analysis / stakeholder mapping

5. Stakeholder Analysis Promoters have both great interest in the effort and the power to help make it successful (or to derail it). Defenders have a vested interest and can voice their support in the community, but have little actual power to influence the effort in any way. Latent have no particular interest or involvement in the effort, but have the power to influence it greatly if they become interested. Apathetic have little interest and little power, and may not even know the effort exists.

6. Activity-1 Identify different stake holders of ABES Engineering College and Classify internal and External Stakeholders and conduct stakeholder analysis to identify P romoters, Defenders, Latent and Apathetic

7. Applications and Approaches Top down and bottom up  analyses are two basic ways to evaluate that  market . A   top down analysis  is calculated by determining the total  market , then estimating your share of that  market . A   bottom up analysis  is calculated by estimating potential sales in order to determine a total sales figure . https:// www.youtube.com/watch?v=iXWkACyhSZI https:// www.youtube.com/watch?v=TM3PYBcrCgM

8. Applications and Approaches

9. Applications and Approaches

10. Activity-2 A Company ABC Ltd has developed a Bicycle Pump product, and is about to take it to market, thus need to develop a market analysis for a business plan. Which forecasting approach is better: top down or bottom up ? https://www.inc.com/jeff-haden/bottom-up-or-top-down-market-analysis-which-should-you-use.html#:~:text=Top%20down%20and%20bottom%20up,your%20share%20of%20that%20market.&text=A%20bottom%20up%20analysis%20is,determine%20a%20total%20sales%20figure.

11. Activity-3: Quiz Sample Question Which of the following statements best describes the concept of marketing analytics ? Analyzing and managing marketing strategies to maximize their effectiveness. Marketing products to other organizations for use in the production of goods. Increasing the number of visitors to a website by making sure it appears at the top of the list in a search engine. Examining and analyzing raw data so that conclusions can be drawn . https://www.coursera.org/learn/applying-data-analytics-business-in-marketing/exam/PGH2X/module-1-graded-quiz/attempt

12. THANK YOU