Abstract
The use of analytics data in digital marketing has had a profound impact on the way marketers create consumer relationships and how firms make decisions. However, the marketing analytics literature offers little guidance on how digital marketing analytics tools should be selected and leveraged in service to the firm’s overall strategy. Foundational marketing theory and research concerning the origin of consumer value and the primary importance of the consumer decision journey to strategy formation offer a pathway to evaluating digital marketing tools and analysis in a strategic and theoretically sound manner. This paper builds on seminal marketing thought to propose a conceptual framework that places use of digital marketing analytics tools and channels in the context of a firm’s marketing plan. The framework has diverse applications across many industries and platforms and can help markers avoid falling victim to digital marketing analytics myopia, even as evolving technologies and broader societal forces like the response to Covid-19 accelerate the digitalization of marketing.
Highlights
How customers experience a brand is increasingly taking place online
This paper will briefly review how marketing literature has generally approached the topic of marketing analytics and consider how marketing research combined with theory suggests directions for a conceptual and strategic digital marketing analytics framework
This paper proposes such a framework and argues that even as emerging technologies, new marketing channels, and the realities of COVID-19 accelerate the digitalization of marketing activities, a customer journey focused approach
Summary
How customers experience a brand is increasingly taking place online. It is estimated that e-commerce accounted for over 14% of global retail sales in 2019 and that it will account for 22% of global retail sales by 2023 (eMarketer 2019). COVID-19 may accelerate this growth, with 48% of consumers reporting in May 2020 that the virus had caused them to purchase products online that they would have usually purchased in stores (Numerator Intelligence 2020). Digital retail sales are quickly becoming a necessary sales channel for consumers and may no longer be seen as merely an alternative to traditional brick and mortar shopping. Marketers reported allocating 50.1% of their budgets to digital marketing channels in 2019 and are forecasting to spend 60.5% of their marketing budgets on digital initiatives by 2023 (eMarketer 2020). Villegas to marketing can offer clarity about what data is strategically valuable across diverse industries and circumstances
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