It’s a new year and a new opportunity to get more value from your business data.
Just like the enhancement to your mobile device, many of your marketing tools, CRMs, email marketing platforms, etc. made changes that lead to more capabilities and data.
So, let’s kick-off the year with tips to make the most of a good thing!
1. Revisit Your Data Collection, Security & Configuration Capabilities for Better Metrics
In 2015, Google Analytics and Adobe Analytics had an estimated 17 combined releases or updates to features, enhancements to security, data collection, and capabilities to generate better metrics and control for improved data analysis. By revisiting your digital analytics tool’s capabilities, you can identify opportunities to collect more data, improve your data security, and configure your digital analytics solution to capture the information that aligns with your business goals and objectives.
For example, Google Analytics released calculated metrics and AdWords Manager Account (MCC) Linking (November 2015). The release presented an opportunity to create your metrics within the admin console. Also, the manager account linking allows Google Analytics to share data directly with a manager account instead of a client account. It also increased the possibility of custom metrics, specifically for your business or industry and simplified data sharing.
2. Use Integrations & Data Imports to Improve Efficiencies
Most businesses have a number of data sources, but neglect to integrate solutions or import relevant data to improve efficiencies. By integrating solutions or importing data, you can limit the necessity to manipulate your data that can be time-consuming. With data imports, you can get a better sense of your return on ad spend (ROAS).
The most common opportunities to use integrations and data imports are with email marketing, search consoles, CRMs, Facebook advertising and display advertising. Google Analytics can integrate with business solutions such as Salesforce.com, ConstantContact, Search Consoles (Webmaster Tools) and DoubleClick. You can also import data from media campaigns such as Facebook & Twitter to analysis your ROAS.
3. Leverage Social Media Data & Reviews to Respond to Customer Complaints
Social media gives your business the ability to interact with customers and obtain customer feedback. By listening to your customer’s feedback and reviews, you can respond to customer complaints and often engage with customers before issues escalate in a public forum. You also have the opportunity to improve internal processes or products to minimize the possibility of future complaints.
Check out the comments about your customer services or products. Are you constantly seeing similar comments or feedback? If so, you can survey your customers to uncover the cause of the issues.
4. Create Segments to Remarket to Sell More to Customers & Prospects
You’ve spent time and money on marketing campaigns so make the most of it with remarketing. You can create segments within Google Analytics and Adobe Analytics to stay in front of prospective customers that have visited your website or existing customers that are looking to upgrade. Use your data to segment based on demographics, device, and behavior such as a transaction, or condition to sell more profitable products and services to the most likely candidates.
As an example, you can create a segment based on your existing customers and develop remarketing campaigns to promote the most common product items for this segment. Using this segment could lead to more sales and a lower cost per sale. You can apply the same approach to acquiring new customers.
5. Analyze the Online Sales Process to Increase Revenue & Closing Rates
Just about every ecommerce business can improve their online sales process to increase revenues and closing rates. Even non-ecommerce websites can improve the online lead generation. To improve your analysis of your online sales process or lead generation put a monetary value on actions that are critical to the organization’s goals and objectives. Analyze the sales funnel to lower abandonment rates that should lead to increased revenue and conversion rates (closing rates).
Chat with internal stakeholders to agree on a monetary value for leads. Afterward, you can work to implement the values into your digital analytics solutions and create funnels for each conversion to identify insights. Don’t forget to test ideas to improve the funnel and closing rates.