Data analytics in marketing is important because it helps the marketing team optimise their performance.
Implementing analytics into the marketing model means funds can help increase AuM by identifying more efficient ways of engaging with new and existing investors. A manager can also use data analytics to make better marketing campaigns and decisions, as well as help analyze trends, which can lead to new—and better—products and services.
Analysts have many reporting and software tools to process data and report findings. The trouble is that marketing teams are no data analysts. Data analytics and data teams have historically relied on spreadsheets and Microsoft Excel. Data analysts often interact with programming languages to transform and manipulate data such as Python and R. Both Tableau and Power BI are also favoured for data visualization. “Using data analytics is a very effective way to have influence in an organization,” said Harvard Business School Professor Jan Hammond, who teaches the online course Business Analytics, in a previous interview. “If you’re able to go into a meeting and other people have opinions, but you have data to support your arguments and your recommendations, you’re going to be influential.”
But it is a lot of things to be worrying about if you have not got the budget or aptitude to get involved in.
So to make it simple, here are 5 things a fund marketer needs to measure
- Which way is the engagement trending?
- Is the distribution group growing?
- Are the emails convincing?
- Is the content working?
- Are people tired of our emails?
- What is the quality of our contacts?
I know that is 6, and this is what it should look like – well, at least it does in ProFundCom