Today’s business owners are faced with many challenges and keeping up with data is one of them. As technology advances, business owners are finding new ways to market their products. These new strategies bring with them a sudden and large multitude of statistics and metrics which can easily overwhelm anyone trying to make sense of which figures are worth analysing. Data-driven marketing gives business owners a chance to really dig deep into their customer base, their sales, and their budget, to find out the most effective ways to market their products or services. It is through analytics you can find answers to all your questions, and once you have business goals in place, data can help ensure you are on the right path.
When analysing your business data, there are some main areas to focus on. While these may differ depending on your business and its interests, it is important to keep these things in mind when making marketing decisions.
Customers and clients are the focus for almost every business, and it is important to know where they are coming from, and if they like what you’re doing. You can do this by tracking the origin of your highest quality leads and being sure to make the most of that source. It can be easy to get caught up in social media engagement, and while that may be the key source of leads for some companies, it is important to find out where all your leads are coming from, and which of those leads are giving you the best returns. When it comes to tracking enjoyment, there are a few ways you can do this. You can analyse time spent on your website, the number of pages a customer visits, or their click-through rate (CTR). It is also important to note when a certain post or blog gains more attention, and to find out why; was it the content, the style, the layout? All important factors which analytics can help break down for you.
Data-driven marketing also considers the negatives, such as what might make potential customers disengage with your content, and if your current strategy is effective in making your business money. When it comes to creating an efficient marketing strategy, businesses can struggle to break down the cost of each individual lead. Understanding how much your customers are costing to acquire is an important part of your strategy.
Do you feel as if your business isn’t making the most of your data, or maybe you’re feeling overwhelmed by what all of this means? No matter the size of your business, AtoBI are here to help.
AtoBI are experts in helping you track, break down and understand your data. Our consultants can help ensure that you understand your audience and use this information to market your products effectively. For more information on what AtoBI can do for you, contact us on (03) 9017 1820 or email us at firstname.lastname@example.org.