How much do you know about your customer journey? Many companies invest in various marketing forms because a blog or website told them to, but they aren’t sure exactly how much of an effect it has on their business. Through behavioral analysis, even small businesses with limited budgets can know exactly where their marketing dollars are going and what is driving the most customer engagement.
Social media is a prime example of analytics value. Facebook, Twitter, and other channels typically work to increase brand awareness while driving traffic. However, many companies refuse to invest in social media because it doesn’t immediately generate sales. This is where analytics come in. By using first-party data, brands can see that social media channels actually move customers deeper into the funnel. A company’s social media page might be a customer’s first interaction with a brand, but it could trigger recognition when he or she sees an ad later. Without social media generating awareness and serving as a branding tool, fewer customers would be moved deeper into the funnel. By divesting from this marketing tool, brands are actually hurting their sales in the long run.
To further understand the value of the sales funnel and how brands can use behavioral analysis to allocate their budgets, check out this infographic by CopyPress. It walks readers through the entire process, from preliminary research through post-campaign evaluation. By paying attention to what your customers want and how you can reach them, you can stretch your marketing dollars to increase your efficiency and drive your revenue.
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