Algebra, Analytics & Automation for Marketing ROI
The three As: Algebra, Analytics and Automation. If you’re not using these three concepts in your online campaigns and for determining marketing ROI, your numbers aren’t adding up the way they could be.
The concepts of algebra, analytics and automation can work together and be applied to enhance a marketing mix. By utilizing math, bigger ideas can be reduced into smaller equations. Once you have a better idea of the big picture, one can improve results.
- Algebra: It might not seem intuitive immediately, but there is a lot of algebra going into marketing in general, particularly in social media. It even has a name: Relationship algebra. One of the most basic rules of algebra is the rule of symmetry. One examples of this is “If a = b, then b = a.” Simply put, if “a” is your marketing campaign, “b” is what you can expect from your customers. A second rule is the rule of zero, i.e. X + 0 = X. Zero added to any number means the number does not change. If you add nothing to your campaign, what you can expect from it won’t change. A third rule is the property of negation. In this example, Experience * -1 = -Experience. What can be learned from this is a positive outcome can be turned negative with just one bad experience.
- Analytics: Web analytics is the measurement, collection, analysis and reporting of internet data as it applies to web page usage. Most of this is measured in numbers and percentages: of users that visit a page, what pages are the most popular, what links are clicked, what pages seem to inspire the purchase of products or services and from which pages visitors take their exit. Its primary function is to assist with the understanding of how visitors use the website and how to optimize its contents for the best results. The information gained through web analytics can be converted into similar algebraic relationships as listed above, as they apply to website usage, social media interaction and marketing ROI.
- Automation: In order to be able to track online, content and social media campaigns, vital statistics need to be compiled, such as Facebook likes, Twitter follows, click-throughs, mentions, positive and negative sentiments. Automation can help web marketing professionals compile many of these measurements, as well as the stats and equations listed above and more. With this information at hand, a marketer can calculate online marketing ROI and optimize strategy to enhance it.
Algebra, analytics and automation. After reading all of that, it might seem like you’re in school again or like you will have to learn a lot of equations to optimize your online campaigns and marketing ROI. Fear not, as online marketing software can help.