What is Marketing Analytics Software?
Marketing analytics software encompasses tools and processes which enable an organization to manage, evaluate, and control 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) by identifying effective marketing methods and adjusting campaigns to maximize conversions and sales.
Marketing analytics considers marketing efforts across all channels and audiences, including email marketing, social media, digital advertising, and web analytics. Marketing analytics software is usually offered as a standalone solution; these products source campaign data through integrations with a company’s marketing technology stack, including marketing automation software, CRM software, digital advertising software, and digital analytics software. However, many all-in-one marketing platforms, such as marketing automation products, include built-in reporting features.
Marketing analytics solutions source data from marketing tools and their core functionality is to analyze marketing campaign-oriented information. Some companies opt to use analytics platforms or embedded 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