Analytics Essentials: The Master List
Over the course of the next year, we’re going to be focusing our blog writing efforts on teaching you the essentials of data analytics that we think are vital for every digital marketer (or digital marketing adjacent person) to know how to read.
We’ve handled the performance marketing for hundreds of companies at this point, including over a dozen Fortune 500 brands. The Digital Gremlins team has managed over $100,000,000 in ad spend and tracked over $1 billion in attributed revenue from our marketing efforts. You don’t rack up those kinds of numbers without knowing a thing or two about data analysis and how to apply it to marketing efforts.
So strap in and join us for our Analytics Essentials series, where we pick out some of our favorite tricks and tools to pull back the curtain just a little bit. We’ll be covering:
Key Performance Indicators (KPIs): These are measurable values that track your progress towards achieving specific goals. Choosing the right KPIs depends on your campaign objectives, but common ones include website traffic, conversion rates, cost per acquisition (CPA), and return on investment (ROI). Understanding how to calculate and interpret these metrics is crucial for measuring success.
Data Acquisition and Segmentation: Knowing how to collect and organize data from various sources like website traffic, social media platforms, and email marketing campaigns is essential. This data can then be segmented into different groups based on demographics, interests, or other relevant factors to gain deeper insights into specific audience segments.
Different Methods of Data Analysis and Interpretation: Once you have data, being able to analyze it effectively is key. This involves understanding statistical concepts like averages, medians, and correlations to identify trends and patterns. Presenting data visualizations like charts and graphs can also help communicate insights more effectively.
A/B Testing and Optimization: This involves testing different versions of a website element, email subject line, or ad copy to see which one performs better. Based on the results, you can continuously optimize your campaigns for maximum impact.
Attribution Models: With users interacting with your brand across various touchpoints, understanding how to attribute credit for conversions across different channels is crucial. Different attribution models assign varying weights to each touchpoint, impacting how you measure the effectiveness of individual marketing efforts.
Analytics Tools: Several powerful tools like Google Analytics, Facebook Insights, and UTM parameters can help you collect, analyze, and visualize your data. Having a basic understanding of these tools and their functionalities can significantly improve your ability to leverage data for decision-making.
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