Analytics: The Role Of Data In Digital Marketing
John Wanamaker, a pioneer of modern advertising, famously stated, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” With nearly $200 billion in media spent per year in just the United States, that’s a lot of wasted money (according to Wanamaker’s estimations).
If this is true, being able to understand which marketing channels are effective not only brings huge cost-saving implications, it becomes a major competitive advantage. Web analytics is a cornerstone of that reality.
The following is an introduction to web analytics, why you should care about it, how it can be applied to your marketing and how it’s evolving.
What It Is and What It Can Do For You
Web analytics tools collect and report data on how people interact with your website. Most web analytics software gives you access to hundreds of standard reports, metrics, and dimensions right out of the box. You learn which marketing channels send people to your website, where they land, where they go and how long they spend on your website.