3 Common Myths About Marketing Analytics





Published on 04 September, 2017




Digital marketing and marketing analytics is a strange beast. Working with digital marketing, you're required to be creative while at the same time understanding complex data and technical information. These are two skills that are often difficult to find in one person, and even more difficult to cultivate. So it's common for digital marketers and analysts to make assumptions or have low confidence in their technical abilities.

 

Myth 1: You Need a Mathematical or Statistical Background to Work with Analytics

It may have been true a few years ago that you first needed to understand mathematical models before you could get to grips with marketing analytics, but it's no longer the case at all. With a range of marketing tools on the marketing, such as Adwords and Facebook Ads, which provide their own data analysis, you can get stuck into the stats without a maths degree.

 

Myth 2: Analytics is Only for the Big Guys

We would argue that the smaller your company is, the more important it is to understand your data. Bigger companies have larger chunks of money to throw around, and to a certain degree can absorb some poor performance here or there. But a small company can't - every cent counts and must generate revenue. That's why it's so important for small companies to understand their marketing funnel and fine tune how they spend precious resources.

 

Myth 3: You Need to See Every Metric Available

This one is all about optimising the most important parts of your marketing funnel. You could spend hours sifting through endless data, but not all of them are worthy of your attention. For example, the CTR (click through rate) of an email campaign is probably the most important metric to look at, while the bounce rate is only important in certain circumstances. You should put some time and thought into what data is important to you, and how best understand them.