What's New in Wavo Marketing Analytics: May 2021
/Starting this month, Wavo Marketing Analytics users can begin to integrate and visualize artist music streaming data alongside their marketing campaigns.
This new update allows you to:
Easily overlay KPIs like views or clicks with plays from major streaming platforms
Better understand the relationship between your marketing efforts and song streams
Tell a more complete story of a new release with your data — all in one place
Why Is This Important For Music Marketers?
One of the greatest challenges marketers face is tying their work back to quantifiable business outcomes, like revenue. That’s why many companies think of marketing departments as a cost center. And marketers often optimize campaigns for cost-efficiency instead of maximizing revenue.
But this approach is all starting to change. Today’s marketing winners use data and analytics to prove they are effective at generating revenue: according to Google research, 89% of leading marketers use strategic metrics, like gross revenue, market share, or CLV, to measure the effectiveness of their campaigns.
By demonstrating marketing’s impact on business outcomes, music marketers can align with finance teams to unlock bigger budgets, be more competitive in ad auctions, and gain revenue-based data.