Professional paper
DIGITAL MARKETING BENCHMARKS LEVERAGED BY MARKETING ANALYTICS TOOLS
Petra Leonora Cvitanović
orcid.org/0000-0003-2579-2940
; Microsoft Hrvatska d.o.o., Horvatova 82, Zagreb, Croatia
Abstract
The aim of this paper is to provide a structured overview of several marketing analytics tools and guidance in creation of company’s own digital marketing dashboard and benchmarks. Digital analytics tools display in a clear and creative manner the trends and dynamics of the numbers (budgets, costs, investment), the percentages (shares, ratios), as well as various statistical data, rankings and KPIs. By exploiting the data from these tools, the entire business of a company can be leveraged. Ideally, the data should be regularly monitored and benchmarked to relevant criteria and business results of the industry leaders. If some benchmarks are not available within an analytics tool, a company can develop own benchmarking system and ranking scales based on own database. Such dashboards would be highly personalized to the needs of the company – they would reflect performance of own product assortment per lines of business, digital capabilities of B2B partners, and allow scores comparison through markets and through time (MoM / YoY trends and dynamics). By combining external and internal analytics tools, a company can achieve insights of greater value in relation to its core-business, products/services and its digital marketing strategy. The paper also covers detailed review of digital marketing metrics within the tried-out tools, as well as tools’ advantages and disadvantages. The author discusses development of internal digital marketing standards, ranking scales and benchmarking criteria which can support decisionmaking in digital marketing practice, and it also addresses the probable direction of future development of digital marketing analytics tools in general.
Keywords
digital marketing analytics tools; data-driven marketing; marketing dashboards; digital marketing benchmarks; digital marketing metrics
Hrčak ID:
236238
URI
Publication date:
15.3.2020.
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