Let’s talk “marketing data”. A gift and a curse for the modern company is the wealth of data available at our fingertips.
Data overload is not an exaggeration and can confuse and hurt your employees and company as a whole. With so much available, it is important to realize what data is essential for your analysis and what data may be leading you into a direction that is not advisable.
Noticing your results and analytics aren’t adding up the way you feel they should?
This guide can help you, and your marketing team better decipher your company’s marketing data and make better-informed decisions.
Imagine owning a pizza shop where everyone in the world comes to your store, smells what you have to offer, views what you have to offer, and then leaves without a taste or purchase. At the end of the day, how much good does this do your restaurant?
Traffic to your company’s web page is a wonderful thing, but if you are ignoring how many people peek in then dip, you are missing out on some critical information.
Monitoring your web page’s bounce rate is a great way to begin asking meaningful questions for your business that can lead to positive change.
If you have a high bounce rate, you may need to begin looking into some of the following areas:
These questions and more can help you adjust your content strategy and improve the quality of your audience’s experience. Lower bounce rates and stronger content help businesses establish themselves as authorities in their fields and connect better with their visitors.
Make sure your customers are doing more than merely looking at the menu, sell those pies!
In data everywhere, but maybe nowhere more so than Social Media, there are what we call Vanity Metrics.
Sure, getting 1,000 likes feels fantastic. Who doesn’t enjoy seeing their notifications light up with people across the Internet showing love for their latest post on Instagram? Whether it’s a selfie with your dog or your latest product on display, it is only human to feel good about racking up likes, and we’re not here to say these are a bad thing but are they helping your business grow?
Having an insane amount of followers is great, but do you have the right followers who genuinely see value in your business and will convert for a purchase?
It’s easy to see that because someone follows your page or likes your posts, there can be a huge difference between these types of interactions and those who take measurable actions that help your bottom line.
Engagement with your page not only helps the algorithms that locate your posts and identify them as significant but also helps build connections and real relationships with customers. In the Social Media landscape, now more than ever, it is important to create and foster relationships with your follows to earn conversions on offers that help your business.
If you notice high engagement on a post, it can signal that your audience is highly interested in that type of content. If your engagement is sinking, you may want to evaluate why you are failing to connect with your audience.
Businesses live and die with the conversions they are able or unable to make; however, conversions and goals may change over time, and it is important to stay up to date when looking at your data.
If you are currently analyzing data and judging performance based on goals from a year ago, but your company’s focus has shifted, you will find yourself lost in a sea of useless information.
Communicate with your marketing team and other branches within your organization to make sure that your goals are aligned and the data you are observing fit your company’s goals.
Your company’s goals and ambitions will evolve, and your marketing data must reflect these changes.
Smaller companies may not have the same resources or goals as a larger company and maybe looking to maximize exposure. After acquiring a decent following and carving out their target market, your company may decide their goals of sheer exposure aren’t enough and may seek less traffic and more conversions. It’s important to keep these things in mind when analyzing your marketing data.
Buyer personas and target markets can and will change as time goes on. Be sure to update your buyer persona profiles and reevaluate your target markets as your business operations grow.
It is also important to pay attention to trends and the way your audiences’ needs change over time so that your company is equipped to provide solutions for their new problems or alternatively seek new targets.
Standing still is falling behind, keep an eye on where your goals and target markets are moving towards so you can stay ahead of your competition.
We’ve mentioned the power of A/B testing before, but the jest of it is the idea and practice of running an idea in two forms where one variable is changed. An example of this would be creating a post for your Instagram as an image and then later using the same content as a video. The content was the same, the platform was the same, but changing the medium gives you something to compare and measure going forward with your content strategy.
Which post has more likes? Which post has more engagement?
These metrics and data points can help you form your content in the future to reach your audience in the best possible way.
Data analysis in marketing is a necessary component, and companies soon realize that the resources needed to properly do so expand much further than the almighty dollar.
Time is a precious resource and the manpower that is needed to complete marketing research, updating data points and strategies, reporting and making changes as necessary, and developing content based on the data you collect can be overwhelming for some businesses.
Devote yourself to your core business functions and trust the experts at Visibly Connected with your company’s marketing needs.
With almost a decade of experience, Visibly Connected is prepared to locate and breakdown the data points that mean the most to your business and effectively guide your marketing campaign in the right direction. Contact us today and see the difference Visibly Connected can make for your company.