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What do you do if your business needs to identify new opportunities using marketing analytics?

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Marketing analytics is the process of measuring, analyzing, and optimizing the performance of your marketing activities. It can help you understand your customers, competitors, and market trends, and identify new opportunities for growth. But how do you use marketing analytics effectively to find and seize these opportunities? Here are some steps you can follow to get started.

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Alice B.

Growth & Performance Marketing Lead | Paid Media & Analytics
Daniel Casta?o Rivas
Sumin Valiyaveetil

VP, Global Markets (MSM Unify) | Market Entry Specialist | Strategic Partnerships (B2G, B2B, B2C) | Process Improvement…

1 Define your goals

Before you dive into data, you need to have a clear idea of what you want to achieve with your marketing analytics. What are your business objectives and how do they relate to your marketing strategy? What are the key performance indicators (KPIs) that you will use to measure your progress and success? How will you align your marketing analytics with your overall business goals? Defining your goals will help you focus your efforts and prioritize your actions.

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Daniel Casta?o Rivas
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→ ?Qué quieres lograr con tu análisis de marketing? → ?Quieres aumentar las ventas, mejorar la retención de clientes, o aumentar el conocimiento de tu marca? → Define objetivos SMART (específicos, medibles, alcanzables, relevantes y con un plazo determinado).

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2 Collect and integrate your data

The next step is to collect and integrate the data that you need to perform your marketing analytics. Depending on your goals, you may need data from different sources, such as your website, social media, email, CRM, sales, customer feedback, and more. You also need to ensure that your data is accurate, consistent, and reliable, and that you can access it easily and securely. You may need to use tools and platforms that can help you automate, streamline, and consolidate your data collection and integration.

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3 Analyze and visualize your data

Once you have your data ready, you can start analyzing and visualizing it to gain insights and identify patterns, trends, and opportunities. You can use various methods and techniques to analyze your data, such as descriptive, diagnostic, predictive, and prescriptive analytics. You can also use tools and software that can help you create dashboards, reports, charts, and graphs that can help you communicate and present your data effectively. You should aim to answer questions such as: Who are your customers and what are their needs, preferences, and behaviors? How are your marketing campaigns and channels performing and how can you improve them? What are the gaps and opportunities in your market and how can you exploit them?

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Daniel Casta?o Rivas
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Mejores tipos de gráficos para análisis: → Gráficos de líneas: Mostrar tendencias a lo largo del tiempo. → Gráficos de barras: Comparar diferentes productos o servicios. → Gráficos de columnas: Mostrar la distribución por categorías. → Gráficos de tarta: Mostrar la composición de un conjunto de datos. → Gráficos de área: Mostrar el volumen de datos a lo largo del tiempo. → Gráficos de dispersión: Mostrar la relación entre dos variables. → Mapas de calor: Visualizar datos geográficos o de comportamiento del usuario. → Gráficos de embudo: Mostrar las etapas de un proceso. → Gráficos de Gantt: Mostrar la planificación y el progreso de un proyecto. → Gráficos de caja: Mostrar la distribución de un conjunto de datos con valores atípicos.

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4 Test and optimize your actions

The final step is to test and optimize your actions based on your data analysis and insights. You can use various methods and techniques to test your hypotheses, such as A/B testing, multivariate testing, and experiments. You can also use tools and software that can help you automate, monitor, and evaluate your tests and optimize your results. You should aim to answer questions such as: What are the best practices and tactics that you can use to achieve your goals? What are the potential risks and challenges that you may face and how can you overcome them? How can you scale and sustain your actions and results?

By following these steps, you can use marketing analytics to identify new opportunities for your business and take advantage of them. Marketing analytics can help you make data-driven decisions, improve your marketing performance, and grow your business.

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Alice B.

Growth & Performance Marketing Lead | Paid Media & Analytics
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Start by defining clear hypotheses for each new opportunity, ensuring testable predictions. Conduct small-scale experiments across various channels or targeting strategies to gather initial insights. Rigorously analyze test results against your predefined success metrics and determine if they support your hypothesis. Use A/B testing to refine your messaging or offering. Informed by your data, choose decisively whether to double down on a promising opportunity, tweak your approach, or move on to the next idea.

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5 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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Sumin Valiyaveetil

VP, Global Markets (MSM Unify) | Market Entry Specialist | Strategic Partnerships (B2G, B2B, B2C) | Process Improvement | Business Process Reengineering
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Identify Patterns and Trends: Analyze the data to identify patterns, trends, and correlations that may indicate potential opportunities for your business. Look for emerging consumer preferences, market gaps, unmet needs, or underserved segments that present opportunities for innovation, differentiation, or growth. Segmentation and Targeting: Segment your target audience based on demographic, behavioral, psychographic, or other relevant criteria to identify specific segments with the highest potential for growth or profitability. Tailor your marketing strategies and messaging to address the unique needs and preferences of each segment effectively.

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What do you do if your business needs to identify new opportunities using marketing analytics?

1

2

3

4

5

1 Define your goals

2 Collect and integrate your data

3 Analyze and visualize your data

4 Test and optimize your actions

5 Here’s what else to consider

Marketing Analytics

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What do you do if your business needs to identify new opportunities using marketing analytics?

1

2

3

4

5

1 Define your goals

2 Collect and integrate your data

3 Analyze and visualize your data

4 Test and optimize your actions

5 Here’s what else to consider

Marketing Analytics

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