Data Analysis Builds Business Strategies
Today it’s easier than ever collect data on your website’s performance. Unfortunately, applying that data to your business isn’t exactly intuitive. More and more people are talking about data-driven strategies for business. But how exactly does data help business?
Using data in your marketing and sales practices takes the guesswork out of the process. Instead of trying to predict user behavior, you can view past behaviors and trends in a dashboard. You can even combine different metrics to develop a better understanding of your website performance.
The Benefits of Marketing Data
There’s no excuse for ignoring data anymore. Google Analytics data is available for free. All you need to do is sign up for an account and install a tracking code. Then you’ll be able to learn not only how well your website performs, but who is visiting your site.
The types of data you can track seem almost endless. Key metrics include:
- Traffic levels
- Individual page traffic
- Site referrals (how users find your site)
- Bounce rate
- Exit percentage
- Search queries
In addition to the above, you can look at certain metrics together to gain more insight. You might combine site referrals with conversion rates to see which sites direct the most high quality leads to your website.
Google Analytics gives you a clearer picture of the user journey too. Differentiate between the number of first-time vs. returning visitors on your site. Learn how users move between pages on your site to see if you intended navigation is effective. And see which pages lead to the most conversions.
Google Analytics Integration
Another benefit of using Google Analytics for marketing is the built-in ability to integrate your data with other Google accounts like AdWords and Google Search Console. AdWords with Analytics allows you to gain detailed information on your ad campaigns and identify areas for improvement. Using Analytics with Search Console lets you view individual page performance. This feature is especially useful for evaluating landing pages.
Now that you have all this data, the next step is conversion. With the data you can access through analytics, you can gain a more accurate picture of user behavior and apply that knowledge to future digital strategies.
How Should I Use Results From Analytics?
Analytics data can apply to three main areas: diagnostics, buyer personas, and market opportunities.
Diagnostics: Analytics data is key to understanding your current performance. To understand how your website functions, you need to refer to data. Determine if your website is performing its intended functions based on the number of visitors, leads, and conversions your site generates. Identify areas of low performance, challenges you face, and improvements you can make.
Develop Buyer Personas: Now that you have a better idea of your website’s audience, your next step is to develop buyer personas. Although great customer service includes personalization, your business can personalize more efficiently online by grouping your customers into segments.
Start by identifying two to three customer segments, separated by demographics and user behavior. Consider their topics of interest to suggest relevant content, whether at the end of a page, a pop-up, or in your email newsletter.
If your business already has well-established buyer personas, data can ensure your personas remain accurate. Use data on user behavior as a diagnostic for your audience segments. Do the user groups visiting your site line up with your intended audience? If so, simply monitor performance to ensure you continue to reach your target audience.
If your visitors don’t quite match your expectations, adjust your strategy to improve brand awareness among your intended buyers. You might also discover a new audience segment online. Then you can begin creating content and offers more relevant to them.
Market Opportunities: You can also use analytics data to identify gaps in the market and chances to outsmart your competition. Your visitors’ search queries are one way to discover opportunities for new content, more relevant offers, or even new products and services.
Monitor Website Performance and Trends
Best practices in your industry aren’t always the most effective. As consumer behaviors change and new trends arise, website optimization needs to remain up-to-date. Before anyone catches onto a trend, you may see a change in your data.
Develop a Google analytics strategy that consistently monitors your site’s performance to keep your business on top of the game. For more information on applying data analytics to your business, contact our data analysis experts at Creative MMS today!