Marketing analytics software includes various technologies and processes which enable an organization to evaluate and quantify its marketing efforts. Marketing analytics software offers tools to manage, measure, control and analyze marketing performance. With the use of marketing analytics software, organizations are able to improve the effectiveness and optimize the return on investment (ROI) of marketing activities. Marketing analytics software enables organizations to gain insights about consumer behavior, buying trends and preferences. Such information plays a crucial in during various processes including customer survey, product design and customer support. Thereby, organizations can make use of marketing analytics software throughout its product’s lifecycle.
In addition, marketing analytics software enables organizations to manage multi-channel marketing campaigns including online marketing, social media marketing, email marketing, video and audio marketing. Thus, organizations can evaluate every medium and method of marketing used to identify the effectiveness of such varied marketing efforts. Thereby, marketing analytics software plays a crucial role in optimizing an organization’s marketing strategies and activities. Organizations are able to identify correct marketing medium and method to target their potential customers.
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Marketing analytics also enables organizations to gain feedback about its products and services to improve their offerings as per customer’s requirements. Marketing analytics software has found a wide range of applications including prototyping, acceptance testing and developing marketing strategies with correct time, place and target. Marketing analytics software are widely used in various industries including banking, financial services and insurance (BFSI), e-commerce, healthcare, media and entertainment, consumer packaged.