For years companies have struggled to quantify their ROI from marketing initiatives. They’ve spent long hours and late nights to launch a website or marketing campaign, with little to no analytical reports compiled to show the fruit of their labor. Why should you focus on marketing analytics? First, you’ll need to answer these two questions: What actions do you want your website visitors to take? Do you know how to find the data that is most valuable for your business growth?
Stop Wasting Money
Google Analytics and other programs provide the power to verify the impact of marketing strategies like never before. You can now understand how nearly every dollar of your digital marketing budget is spent. Analytics gives us the ability to track many traditional offline marketing campaigns when a website or phone number is placed within these campaigns. Phone calls or website visitors to a tracked link allow us to digitize results of advertising we weren’t able to 20+ years ago. The point is: analytics puts marketers in the driver seat.
With the rise of digital advertising, it’s important for marketers to understand where they are seeing the largest ROI, and optimize those channels. Google Analytics is “free,” and easy to set up. It’s a no-brainer for tracking analytics. In addition to gauging ROI, you can learn a lot about your website visitors. Tag management programs, like Google Tag Manager allow you to place extra snippets of information on your website, so you can track user actions not tracked by default in Google Analytics like button clicks, scroll depth, and more. Seriously, use Google Tag Manager…it will make you scream with joy at its abilities to simplify your day-to-day marketing tasks, so you can leave your developers alone.
Understand Your Website Visitors
Some believe that as consumers shift from brick-and-mortar shopping to online shopping, a business owners’ ability to understand who their customers are is inhibited. The growth of marketing analytics has debunked this myth since analytics programs create large, in-depth user behavior and audience reports. It’s becoming easier for marketers to understand their customer audiences, and learn better ways to market to them. Some of the items to understand about your website and visitors:
- Traffic source (where does most of your traffic come from?)
- High traffic pages (where do they spend the most time?)
- Location (do you know where your website visitors live? In a non-creepy way…)
Analytics gives marketers a clear understanding of website visitor behavior and explains how they move through the site, what pages they spend the longest time viewing and the percentage of viewers who engage with your business. Understanding discrepancies in user behavior allow you to better suit the needs of your website visitors, which may increase their likelihood to convert.
Data Is Universal
Many executives simply want to hear the numbers—cost, performance and revenue. Analytics enables marketers to provide these numbers. Therefore, marketers will increasingly be included in key strategic meetings to help guide business decisions. By presenting analytical data to our clients, THIEL facilitates actionable gameplans that define a much clearer path for how the companies grow their business.
Want to talk marketing analytics? We’d love to! Our Google Analytics certified strategist is ready to figure out how THIEL can help you take marketing data and turn it into actionable strategies for your business.