Analytics led marketing means you are implementing marketing activities that will have a specific business outcome. In our previous post, we outlined the 8 critical analytics metrics that b2b companies need to be concentrating on. But having access to the right information is only one part of the equation. We need to be equipped to interpret the data and make intelligent decisions off the back of it.
The list focused on key aspects related to website traffic and customer engagement with different types of content. These help to give a good insight into what resonates with our target market. But why is taking, and embracing, an analytics led approach to business the smart approach?
What does an analytics led approach to business marketing bring?
1. Provide evidence to make decisions on
Good data has to be useful. Google Analytics offers an insight into customer behaviours and preferences when they visit your site. This provides a historical context to what they were looking for, how they interacted with it and what else was of value before they exited your site.
It also helps you figure out how they got to the site, what type of device they use and where in the world they might be. This data poses some fundamental strategic questions about how you position and promote your business.
Understanding this help inform which content to produce more of, or ways to improve the signposting around the site to ensure people arrive where you want them to.
2. Identify data gaps
Do you have the data you need? If not, can you create ways to capture it by using forms, pop ups, live chat or other functionality to help fill in the gaps?
3. Actionable insights
Once you have all the data you need, you need to act on it. Some actionable insights are easier than others to implement. Start with which pages are the ones that garner the most traffic and the longest dwell time.
Also look at the content and trends which show the content that is of most interest. These are the quickest things to improve.
4. Target the right customers
Whilst most (if not all) analytics packages do not provide detailed information about specific visitors, there will be some pointers to the types of people engaging.
It starts with developing content and pages that talk to specific people and then using other platforms to serve up this content. Social media platforms and email marketing tools are amongst the best for this and all have their own analytics software that can be used to inform your website analytics.
As you build specific content for specific audiences, these numbers will rise.
5. Make decisions
We’ve been talking about decisions throughout this piece already. Having the cold data doesn’t automatically mean improvements get made. It requires human interpretation and application.
If you’re new to analytics you’ll be blown away by the information; if you’re more experienced in using analytics, you’ll already know that exploring small changes in how you configure your site and its content can have a significant impact.
6. Set goals
One of the most important things about being analytics led is setting goals against key pages so you can really see the value of your website in overt financial terms.
Attaching a monetary value to sites makes you think through the entire traffic generation and conversion process. It will provide direction to ensure that the right call to actions are deployed.
7. Plan resource
One of the biggest challenges facing a business owner is ensuring the right employed are employed doing the right things at the right time. Website analytics can help identify if there is a growing need in a specific service area or an opportunity in a particular geographical market.
More fundamentally, using data from analytics can help ascertain whether the real business challenge lies in increasing awareness, driving lead nurture, conversion or servicing orders
8. Plan budgets
You can’t do anything without money – and a business shouldn’t spend money without a good idea of where it is spending and the impact it will have.
Using marketing analytics packages focuses the mind in on problems or opportunities and can clearly direct investment in the right areas.
Getting comfortable and competent with analytics is a must for all modern businesses. Potential customers do the bulk of their research online and browse our sites before we even know about it.
Avoiding analytics risks you missing out on opportunities to convert a new customer.
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