Integration of analytics, optimization, and marketing for the growth of businesses in emerging economies
"Integration of analytics, optimization, and marketing for the growth of businesses in emerging economies"
For the growth of businesses, marketing and sales is the most important department and the greatest hame-changing chance for marketing & sales is Big Data since the Internet went mainstream around 20 years prior. Also, in the current scenario internet plays a vital role in the development and success of every business. The data big bang has unleashed torrents of terabytes about everything from customer behaviours to weather patterns to segment customer shifts in developing business sectors. This goldmine of data addresses a pivot-point moment for advertising and sales pioneers. Organizations that infuse huge data and analytics into their business show productivity rates and profitability that are 5% to 6% higher than those of their companions. That is a benefit no organization can bear to avoid (Data, 2015).
Further, marketing optimization is the key to improving conversion rates consistently. This is the process of changing marketing activities based on user data from analytics, customer relationship management (CRMs), pay-per-click (PPCs), and other data sources. Marketing analytics is a discipline of measuring, managing, and evaluating marketing performance to optimize its efficiency and return on investment (ROI). Comprehensive marketing analytics enable marketers to work more effectively and minimize wastage of web marketing budgets. In addition to the obvious sales and lead generation uses, marketing analytics can provide a deep insight into client preferences and trends.
One may compare analytics and marketing optimization with sports car management. The analysis step would involve the compilation of engine and performance data from the computer of the car. You do not comprehend how your car performs without that info. Next, optimize the marketing of automobile parts and alter the computer based on the data you have already found. This ensures that you achieve the most acceptable results for your efforts.
It is evident that without the other, neither analytics nor marketing optimization is helpful. Therefore, this special issue aims to answer the following questions:
- How marketing approach can be optimized using the analytical data?
- Is analytical data will help enhance the efficiency of marketing?
- Can businesses get benefited from optimizing their marketing strategies and budget?
- How can analytics and optimization play a role in making marketing more efficient and effective for business growth?
This special issue invites practitioners, academics, and industry researchers to reflect on the fusion of marketing and analytics, how optimization can be used to overcome the various marketing challenges, and what solutions or methodologies can be proposed for the growth of businesses.
For this Special Issue, we invite practitioners, academics, and industry researchers to contribute to any of the topics outlined below and relate to analytics and optimization to marketing strategies and their execution. Research papers, case studies, practice papers, and review papers are invited for the publication in this special issue.
Papers or case studies can include a wide range of marketing, analytics, and optimization-related topics that measure the impact of marketing strategies. Submissions covering any of the topics of interest include but are not limited to the following:
- Marketing optimization
- Marketing analytics
- Big data and marketing
- Bayesian inference in marketing
- Impact of traditional marketing and big data analytics on businesses
- Business analytics and optimization
- Digital marketing and its impact on businesses
- Role of prescriptive analytics in the growth of business
- Consumer behaviour analytics
- Revenue optimization and marketing
- Optimization of the marketing mix
- Customer segmentation and Analytics
- Optimization of web marketing
- Tools and techniques of optimization in online behaviour
- Optimization of the social media campaign
- Political marketing optimization
- Six Sigma marketing
Authors are requested to refer to the following link for detailed paper preparation guidelines.
- Submission deadline for full papers: 1 May 2022.
- Review of submissions: May to July 2022
- Final versions received: 30 September 2022
- Publication: December 2022
Prof. Dr. Ibrahim Sirkeci, International British Business School, UK. Email: firstname.lastname@example.org