Use data, testing and measurement to produce insights for your company
Analytics is important for your small business. The data details the success and failures of your digital marketing actions. Digital marketing gives businesses the ability to monitor and quantify visitor and customer behaviors using near real-time data results.
Collecting this information is crucial for working insights as your online business goes forward with its decisions and strategies.
Your business and the analytics cycle
Analytics is the process of gathering data, measuring those findings and then testing those marks using changes driven by insights.
Then…repeat the process. It’s an ongoing procedure because every business is subject to internal or marketplace shifts which impact their products and services.
Data – provides otherwise hidden signs of value for the business
Measurement – knowing the exact value of your business is essential to know what to measure in support of tactics and goals
Testing – this ensures that scheduled revisions will be made to the website and this effects data outcomes
Your small business and its analytic behaviors
According to WPCurve, using a Baynote study, SMB’s have the following analytic tendencies:
Most SMB’s know they should be analyzing and evaluating data on a consistent schedule
Most SMB’s use spreadsheets for data and studies show that 88% of these have errors in them
Most SMB’s are addicted to “vanity” metrics, such as those found on Facebook and Twitter
Most SMB’s don’t know that cloud data is projected toexpand by 40 times over the next decade, increasing its availability
Most SMB’s only spend about 3 hours a week on their entire web marketing, according to Longer Days
Watch the 100 second video from Google about social media data for small buinsesses
Check out the 70 second video about Facebook analytics for small businesses
Your small business analytic takeaways
Remember the rules about knowing your small business’s ecosystem, the environment in which it operates. Project those thoughts across your business goals for lifecycles, profits and sustainability.
Embrace analytics for its business value and insights
Understand that in the next decade data public accessibility will explode
Admit data is a pathway to understand markets and their swings
Know data is a conduit to study competitors
Accept data points the way for resource allocations and ROI
And, most importantly, don’t forget that data provides direction so your visitors and customers can complete their tasks inside your business’s relational web marketing strategy.