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How can you develop a more resilient approach to marketing analytics?

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Marketing analytics is the process of measuring, analyzing, and optimizing the performance of your marketing campaigns and activities. It helps you understand your target audience, identify your goals, track your progress, and improve your results. However, marketing analytics is not a static or linear process. It requires constant adaptation and resilience to cope with changing customer behaviors, market conditions, and business objectives. How can you develop a more resilient approach to marketing analytics? Here are some tips to help you.

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Craig Handy

Putting the "Go" in Go-To-Market

1 Assess your current situation

Before you can improve your marketing analytics, you need to know where you stand. You need to audit your current data sources, tools, metrics, and reports. You need to evaluate how accurate, reliable, and relevant your data is. You need to identify any gaps, errors, or inefficiencies in your data collection, analysis, or reporting. You also need to align your marketing analytics with your business goals and strategy. You need to make sure that your data and metrics reflect your desired outcomes and help you make better decisions.

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2 Adopt a growth mindset

A growth mindset is the belief that you can learn and improve through challenges and feedback. It is the opposite of a fixed mindset, which is the belief that your abilities and talents are fixed and cannot change. A growth mindset helps you develop a more resilient approach to marketing analytics because it encourages you to experiment, test, and learn from your data. It also helps you embrace failure as an opportunity to grow and innovate. A growth mindset helps you avoid complacency and stagnation in your marketing analytics.

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Holly Cooke

Group Head of Growth at Amtivo Group, specialising in digital marketing, growth strategy, lead generation, customer acquisition, and data-driven digital transformation
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Having a growth mindset is hugely important when doing anything with marketing. It's also important for ensuring that you stay fresh. Marketing moves fast and there is always a new platform, technology or format to content with so testing and tweaking what you're doing is crucial. In my experience, marketing analytics should be used to support this when identifying what tests you're running and identifying the key metrics associated with success to measure the impact of the tests. If for example you are trying to grow an audience, measure metrics with a filter looking for an indication that the audience you're going after has completed the intended actions.

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Yasmin Muman

Marketing Lead @ Digitas UK | Strategic Marketing
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Get super clear on your plan. Note your marketing goals and key performance indicators (KPIs). Remember, change is the only constant, especially in marketing. So, to adapt a growth mindset, embrace the idea that failing is necessary. Fail fast, learn faster, and adapt on the fly. And to keep it smooth, you can use tools like Google Analytics, HubSpot, or Excel to track and measure your progress.

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3 Embrace uncertainty and change

Uncertainty and change are inevitable in marketing analytics. You cannot predict or control everything that happens in your market, industry, or customer base. You need to be prepared to adapt and respond to new situations and opportunities. You need to embrace uncertainty and change as a source of insight and creativity. You need to use your data to identify trends, patterns, and anomalies that can help you adjust your marketing strategy and tactics. You also need to use your data to validate your assumptions and hypotheses and avoid confirmation bias.

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Craig Handy

Putting the "Go" in Go-To-Market
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Change is going to happen, and with it will require adaptation in how you articulate your company's story. In order to support this, marketing analytics starts well before the reporting begins. Rather, a proper data strategy in how data is collected and at what grain of detail it is collected, matters most. If you have properly granular, and organized data, you will be able to roll with the changes while still being able to provide meaningful analytics. As I say, "Footnotes Kill Funding" in the sense that too often companies cannot articulate their growth story due to constantly changing ways they report. It's because they did not properly plan for a constantly changing market and failed to create an adaptable data strategy.

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4 Collaborate and communicate

Marketing analytics is not a solo activity. It involves collaboration and communication with other stakeholders, such as your team, your management, your clients, or your partners. You need to share your data, insights, and recommendations with them in a clear and compelling way. You need to use data storytelling and visualization techniques to make your data more accessible and understandable. You also need to listen to their feedback, questions, and suggestions and incorporate them into your marketing analytics. Collaboration and communication help you build trust, alignment, and accountability in your marketing analytics.

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5 Keep learning and improving

Marketing analytics is a continuous and dynamic process. You need to keep learning and improving your skills, knowledge, and methods. You need to stay updated on the latest trends, tools, and best practices in marketing analytics. You need to seek out new sources of data, inspiration, and innovation. You need to challenge yourself and your team to find new ways to measure, analyze, and optimize your marketing performance. You need to measure your results and track your progress and celebrate your successes and learn from your failures.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Arun Rajamohan

Founder | Tech Enthusiast | Mentor
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Review Meeting: Regularly conduct review meetings for refining and modifying the data used, metrics and tools to keep it updated with the current trends and changing business demands. This can be semi-annual or annual. Also the process should be carried out by including all the stakeholders and gathering their feedback.

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How can you develop a more resilient approach to marketing analytics?

1

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3

4

5

6

1 Assess your current situation

2 Adopt a growth mindset

3 Embrace uncertainty and change

4 Collaborate and communicate

5 Keep learning and improving

6 Here’s what else to consider

Marketing Operations

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How can you develop a more resilient approach to marketing analytics?

1

2

3

4

5

6

1 Assess your current situation

2 Adopt a growth mindset

3 Embrace uncertainty and change

4 Collaborate and communicate

5 Keep learning and improving

6 Here’s what else to consider

Marketing Operations

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