If you want your company to gain an advantage, it’s best to focus on important metrics. Unfortunately, many companies aren’t obtaining this advantage. Whether using outdated marketing tools or focusing on the wrong metrics, it’s important to fix these problems. Considering that, it’s common for companies to work with marketing analytics services. In this post, you’ll learn four benefits of partnering with a marketing analytics company.
- Anticipating Future Market Changes
It’s impossible to accurately predict the future. However, you can enjoy the next best thing by partnering with marketing analytics services. These services don’t just offer predictions, they utilize data and statistics to make more informed choices. Therefore, your company benefits by putting these educated predictions to good use. - Targeting Customers From Multiple Locations
There are many things that affect the behavior of consumers. One of these factors is in regards to where they live. Statistics from 2011 found that the Geospatial industry generated a total of $73 billion. This industry helps companies obtain marketing data from various locations. Using the same strategy for customers in separate locations doesn’t always work well. Instead, your business can utilize location based marketing strategies to entice consumers. - Easier Collaboration Between Departments
A survey from Dresner Advisory Services found that over 50% of those surveyed felt that location intelligence was either very or critically important regarding business planning. One reason for this is that it allows companies to easily collaborate. As a business owner, you know that having departments come together sometimes feels impossible. However, this problem could be due to outdated data management. Partnering with marketing analysis services allows your company to have an easier time managing data. In turn, this allows for clearer communication between departments. - Great for Gaining a Social Media Advantage
If your company isn’t analyzing social media data, you’re likely missing out on valuable information. Nearly everyone has at least one social media account. Considering that, it’s important that your company utilizes demographic reporting tools. Marketing analytics companies utilize these tools to give you insight into how your company is performing.
In conclusion, it’s important to understand the impact of marketing analytics. However, it often feels difficult for company owners to begin digging into the world’s marketing data. Statistics from MarketsandMarkets estimate that the market for geospatial analytics will grow to $72.21 billion by the year 2020. Therefore, this likely means many of your competitors are benefiting from geospatial information for marketing purposes. If you want to avoid spending time and effort on finding this data, contact a marketing analytics company.