Gist of MR Analytics
Marketing research analytics is the practice of measuring, managing and analyzing marketing performances to maximize its effectiveness and optimize return on investment. Mastering marketing analytics allows marketing professionals to be more efficient at their tasks and minimize wasted resources. Marketing research analytics has scope beyond the obvious sales and turnover applications and have the capability to offer deeper insights into customer behavior. Yet, many organizations are simply not able to realize the actual benefits of analytics and continue with their usual methods. The use of analytics has taken immense precedence over other methods. Research agencies drafting marketing research reports rely on this tool more than anything else to filter out accurate data. Analytics helps you monitor campaigns and their respective outcomes enabling you to spend each penny as effectively as possible. The mantra behind using it is simple, that if something costs more than it returns then it is not a good long term strategy. In business research and intelligence knowledge is said to germinate in the form of keywords. The words tell you what is on the mind of your current and potential customers. As a matter of fact, the most valuable long term benefits of engaging in paid and natural search marketing are not incremental traffic to your website rather the keyword data contained within each click. Marketing research reports companies work on some very important aspects of business research and intelligence via analytics, namely product design, customer surveys, industry trends and customer support. Product Design entails keywords that can reveal what features or solutions customers look for. Customer Surveys help examine keywords frequency data. Industry Trends help monitor the relative change in keyword frequencies one can identify. Finally, Customer Support helps understand where customers struggle the most and how support resources ought to be deployed.
