This is Part 1 of a 5 Part series of articles that will examine the importance of marketing analytics.
Analytics Is Essential to Your Marketing Success
Studying the metrics of what you are doing may be a vital part of having a successful business. Without watching the numbers, you actually can’t know exactly why you experience either success, or failure. You can make assumptions, but it’s better if you don’t have to guess. Use facts to ensure that your efforts aren’t being wasted
So, what can analytics do for you? Let’s take a look:
If You Can’t Measure It, It Doesn’t Exist
Once you set goals, they ought to be something that will be expressed in numbers. For example, clicks, page views, sign-ups, sales and so forth. You can even assign values to conversions, in order to have Google Analytics calculate what a specific conversion is worth to you.
Assist You In Understanding Your Visitors
You almost certainly found out a particular idea about your audience before you even started your business. You likely created marketing materials that targeted your ideal audience. Maybe it even works, but can it be better? If you dig deep into your audience’s demographics – especially the people who’ve converted – you can do better at marketing.
You Will Know What Content Is Most Vital
Once you’ve studied your analytics, you’ll see what blog posts and other content is getting the most traction. You can see views, comments and more. All of this data can be analyzed, so you can better judge what sort of content you should make more of.
Allows You to Understand Top Referrers
Using the info you’ve collected, you be able to determine who (or what) is sending the most traffic to your site, including which traffic had the highest conversion rate. This is useful because if it’s one particular person, such as an affiliate, or one specific website, you may want to give them some extra encouragement, or incentive.
Helps You Study Your Competition
Outside of your own visitors, nothing is more important than your competition. You can learn tons from you competition, once you understand everything they’re doing. What kind of information do you need to analyze about your competitors? Things like keywords, the prices they charge for products and even their conversion rates.
Teaches You What Works For Your Audience
Once you study your numbers, you’ll determine if your ideas have worked out, or not. Some will and some won’t. You can determine what works, optimize it and do more of it. As you keep watching the data, you can keep fine-tuning your process.
Enables You to Kill Projects That Fail
You don’t even need to allow projects to continue if the numbers show that they’re failing. You can kill projects fast when you’re doing them online. It’s not like in the old days when you might have to just let things run their course. In the digital environment, you can pull the plug quickly, without your money going down the drain.
Running your business by the numbers can really help advance it in ways that you may not have previously considered. It’s imperative to find out about metrics, engage in goal setting and work out correlation between different factors of your business. Everything may not be as it seems, but when you crunch the numbers and analyze your data, it will become much more clear.
8 Tools You Can Use for Analytics
One of the foremost important things you can do as an internet marketer is to review the numbers. Some people think analytics is boring. Maybe for you it is. Analytics may seem more exciting, though, if they prove to be the key to unlocking higher conversion and getting better returns on investment.
If you’ve gathered, by this point, that analytics are important to your marketing business, good. The next question to answer then is how to go about performing analytics for your site.
Here we will look at 8 different tools that are available to perform different analytics
This cloud-based software is a little different from some other products out there. This company realizes that clicks are only part of the story. With this software, you’ll know directly what content is functioning best on your site.
With this service, you can gather deep insights into all of your online activities, including mobile. Get to know each customer’s journey inside and out, from A to Z, with just a few mouse clicks. You can conduct a 360° customer analysis, use predictive intelligence and more.
This is the original free analytics software which is definitely worth trying out. Some would say it is the primary analytics tool a webmaster should be concerned with. It offers so many features and benefits, it would be impossible to go over them all in this space. Fortunately, they provide extensive tutorials and instructions. It will probably be to your benefit your business to familiarize yourself with this tool.
This works on the idea of pipelines. With it, you can view all customer interactions, monitor the performance of your business and even respond to users in real time. Basically, you can track anything you want to track.
This is an open-source analytics tool that anyone can use. You and only you can see the information. You can either self-host it, or you can use it in the cloud. With this one, you are in full control of your test and analytics.
There are around a million websites that use Clicky to monitor their analytics in real time. If you want a simple way to know how your website is performing, this software works wonders.
You can use this software to track anonymous website and mobile app users even before they identify themselves – and after, too. If you get an accurate picture of your customers and their buying habits, Woopra can get it done for you.
HubSpot offers an enormous amount for website owners in terms of analytics. Their reports offer sales and marketing data in one spot, making for easy accessibility and understanding.
Which software you choose depends on what your goals and preferences are. Plus, it depends on your own level of understanding and expertise. Some will be more intuitive for you than others. Have at look at what each option has to offer and make an informed decision. Whichever one you choose, the main thing is that you are using analytics to help drive the growth of your marketing business.
That’s it for Part 1. Check out Part 2 HERE!
If you’ve found this article useful, or have questions, leave a comment below. It’s always good to hear from you.
If you’re looking for a program to help you get your feet wet with online marketing, jump over to my review of Wealthy Affiliate and see if it is a good fit for you.
If you are more of a DIY person, but want a road map to help you along the way, check out The Simple Guide to Blogging As a Business.