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Seven Ways Cohort Analysis Can Optimize Company Performance and Results

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Guest post by Dan Schoenbaum.

Businesses are constantly in search of useful tactics that improve their brand’s performance and bottom line. Cohort analysis, often overlooked, is proven to yield insightful information and actionable advice to improve conversion rates, engagement and revenue.

How to use cohort analysis to optimize company performanceKissmetrics says examining overall results lumps together information from new and old users masking valuable details needed for strategic decision making. With Gartner predicting the global business intelligence and web analytics tools market to reach $18.3 billion in value this year, it’s time to start making smart decisions with your data.

Here are seven ways cohort analysis can optimize company performance and results:
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The Nine Best Reputation Management, RSS, and Social Search Tools

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Revised January 25, 2021
Revised October 25, 2019

The explosion of blogging, social media, and online review sites has provided brands with unprecedented opportunity for exposure through authentic customer advocacy.

Best reputation management toolsBut this proliferation of (often unfiltered and unvetted) content presents significant risks for brands as well. Marketers need to constantly be on the watch for fake reviews, trolls, and unanswered customer complaints.

Social media monitoring tools are an excellent first line of defense for tracking brand mentions, and in some cases brand sentiment as well, from sources across the web.

But to make sure nothing gets missed, marketers often deploy a second layer of tracking tools. Here are nine of the best tools for monitoring your brand, key topics, influential bloggers, focused news sites, and obscure social media networks.
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The 11 Best Social Media Campaign Builders, PPC, and Ad Monitoring Tools

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Revised March 2, 2023
Revised November 16, 2022
Revised April 4, 2017

Social media has become a core element of marketing across businesses of all types and sizes: maintaining active,  optimized profiles; sharing industry-related updates; amplifying their own content; and engaging with prospects, influencers, advocates, and customers.

Best social media campaign and ad monitoring toolsAs part of the business fabric, social media marketing is an ongoing activity with a beginning for every company but no real end (though specific social networks may go, e.g., Jaiku, Pownce, FriendFeed…).

Social media campaigns, on the other hand, are short (and defined) term bursts of activity and advertising relating to a specific promotion, event, contest, report, or other call to action.

While social media marketing is optimized through the use of social media monitoring and management tools, social campaigns are most effectively built and managed through the types of tools in this post. Ad monitoring tools, meanwhile, help you keep tabs on where and how your competitors are running online campaigns.
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The 29 Best Social Media Monitoring Tools

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Revised January 23, 2024
Revised January 12, 2022
Revised October 15, 2020
Revised January 9, 2019

Social media monitoring is vital for virtually every B2B or B2C brand. 58% of consumers follow brands on social media. 71% say they are likely to purchase an item based on social media referrals; in fact, consumers report that social media plays almost as big a role in purchasing decisions as does television.

However—96% of the people who discuss brands online do not follow those brands’ owned profiles.  That means if you are only monitoring your brand’s social media accounts, you’re missing most of the social conversation about your company, products, and services.

Best social media monitoring toolsStandard web analytics tools provide only a very narrow view of social media activity: clicks through to your brand website. The analytics tools built into social networks provide a bit more detail, though only within their own platforms.

The social media monitoring tools listed here do far more, enabling you to monitor brand mentions across social networks and online forums in real time. Several also provide features like competitive benchmarking, follower demographics, key influencer identification, sentiment analysis, campaign impact, and reporting.

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The 29 Best Web Analytics Tools

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Revised February 21, 2024
Revised March 16, 2022
Revised November 10, 2021
Revised October 1, 2020

While chief marketing officers are under increasing pressure to quantitatively demonstrate the ROI of marketing investments, most still struggle with it. Yet as pointed out on Marketing Charts, “What’s interesting to see is that CMOs don’t seem to be pursuing what’s being touted as the solution to the ROI struggle: marketing analytics.”

Best web analytics toolsAnalytics tools can ultimately help measure ROI. But more importantly, they can provide more granular detail on what’s working and what’s not, helping marketers make smart decisions about what to do more of, less of, differently, or not all, and even what to try next. ROI is a financial metric, and vital at a high level to show value to the business. But web analytics tools ideally provide marketers with actionable information.

Put another way, it’s great to be able to demonstrate a positive ROI from content marketing; it’s more essential, particularly at the director level and below, to understand why, in order to continually optimize strategies and tactics.

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