Data Analytics and Insights
You don’t know what you don’t know so you must have an avenue to access, visualise and learn from your data analytics and create proper insights. No serious business decisions can effectively be made on your next campaign without proper intel.
This Intel (data analytics and insights) should also be quick to understand so the setup is key because there’s an incredible amount of tools (like Google analytics, Hotjar, Semrush, Addthis, etc) available and within these tools an incredible amount of choice of statistics to decipher. This can be overwhelming and take a lot of time.
Start with the questions you want to answer about your business performance and that should find the tools adequate for those answer.
Sometimes you have no choice to have multiple tools to measure different things, therefore, using a live automated dashboard is useful and time-saving. For example: measuring traffic with Google analytics and tracking user experience with Hotjar. Both data streams could be visualised in one dashboard pre-configured to answer your specific questions.
Investing in analytics and insights effectively can:
- Improve the ROI (return on investment) of your digital marketing campaigns
- Identify upsell opportunities to existing customers
- Help you improve your customer experience
- Increase your conversions and sale
- Provide valuable insights in future opportunities.
- Save time on deciphering the data
An effective analytics and insight setup has:
Save time and effort deciphering your metrics by having your goals, objectives and KPIs pre-configured and visualised into one single Dashboard location enabling your business the proper intel to make important decisions.
All goals, objectives and key performance index (KPI) should be measurable and trackable digitally through all touch points.
Some key metrics to track online performance may include:
- Money (revenue or savings)
- Visitors (categorising and labelling by geographic, age, etc.)
- Marketing campaigns (which one is performing better)
- Performance (web page loading time, website downtime, etc.)
Performance is all about attracting and holding users. People are not ready to wait till the page will load, they expecting to get quick results. According to Google, users are ready to wait about 3-4 seconds until they leave website. That’s how much time you have before losing potential customers. Also, faster websites rank higher and have a better amount of traffic.
To ensure your website performs adequately, you need to monitor how fast it loads and optimise it’s speed. There are many ways to optimise your website performance such as reducing images sizes, caching, reducing your redirects, compressing style sheets etc. There are also great optimising tools available in the market to choose from.
By now everyone in the business world knows social media isn’t just used as a broadcast platform. Reaching your target audience at the moment and place with the most insightful content is a key to successful campaigns. To find those right moments and places, you will need the right tools to find that valuable intel.
It’s important to not confused these tools with social media monitoring and replying to incoming questions or comments about your brand. This is about extracting valuable insights from online public conversations that you can apply to your overall strategy.
There are different tools for all budget and levels. From just a monthly subscription to a once off insight report on key strategic questions.
Testing your user experience is key to optimising your conversions after the fact. But the ideal time to do it is during your prototype phase to ensure you’re building the right experience for your audience.
One of the best tools for this are called heat maps. They track your visitors’ interactions with your touchpoints (Website and Apps) from mouse movements and clicks. This information is more valuable than talking to your users because self-reported claims are unreliable and are most likely speculations of future behaviour.
Key reasons for UX Testing:
- To check if your touchpoint meets user’s expectations
- You can match your goals to real-world use
- Eliminates potential flaws
- Allows you to see how successful users are with their tasks or at converting
- It gets useful user reactions and feedback about your touchpoint
A/B testing is designing two versions of an interface (web page, app page, advert) that each visitor has a 50/50 chance of loading. This helps to discover which variant is more effective, performing better, then form a hypothesis for the reason and run further tests to gain clarity.
Reasons for variation can include:
- Graphic design that is more engaging or relevant
- Copy and subheadings that hit their ‘pain-point’ more effectively
- Button placement that’s more obvious
- A CTA (call-to-action) which is more compelling
Aside from improving your conversions, A/B testing can help you to build an understanding of your customers and their behaviour and values, which will allow you to communicate more effectively with them in the future.
Every business, to a certain extent, reviews report on sales and financials regularly. In the digital age they only difference is they should also take time to analyse their digital ecosystem reports as well to ensure your business thrives in the digital world.
The common barriers to this is the people within either don’t understand or feel threatened by it therefore their digital evolution gets ignored. Unfortunately, ignoring the digital world today is a costly mistake of missed opportunity that reduces your relevance in your market because the majority of the world is digitally mobile.