This is where I get a little more excited! Your analytics will provide a wealth of insights into who your paying customers are, their behaviors and interests, and the types of messages they respond to positively. This information will help inform your larger strategy – from where to allocate ad spend, the message you develop, the timing, and even when and how to deliver them.
Additionally, you will be able to view the activities that lead up to a sale or lead form – both direct attribution and conversion paths, as well as assisted conversions.
Four: bench-marking
Over time, your analytics will provide benchmark metrics in which you will be able to see trends. This can include trends in traffic – both volume and quality – as well as trends in average cost per acquisition.
In conclusion, it’s essential to have analytics about your company and its marketing efforts to understand better if your marketing is working. What does ‘working’ mean? It could be one of two things.
You can use analytics to measure your marketing
You can also use your own historical analytics to define what success looks like for your company based on previous results.
For example: instead of looking at facebook likes, look at how many of those likes commented, shared, or went to your website. Develop phonelist quantitive goals such as generating 50 leads each month, or predictive metrics that will tell you if you are on track to reach your set goal (metrics like web visits and crm activity). There are also process and production metrics that provide insights into resources needed for future sales.
Ultimately, select three to five key performance indicators, then have your team develop the measurability and reporting cadence for each. Keep in mind that the measurement should be automated, and the reporting should be in near real-time. Kpi’s reported weeks or months after the fact cannot be used to change outcomes.
Make sure that the goals around your kpi’s are smart
Specific, measurable, attainable, relevant, and timely). Think in terms of leading indicators as well as lagging indicators – those pieces that tell you IE Lists what is coming as well as those pieces that show you how it is going today.
Connect with us if you’d like to chat further; our team of dedicated digital experts would love to help you identify your kpi’s and implement the processes needed to measure and report.
