If you’re in business in this day and age, you know that marketing is now more important than ever before. Gone are the days of radio and television ads. And oh yes, the billboards.
It’s the age of hyper-connectivity with the internet doing all the heavy lifting of it. People’s attention is zoned in on whatever new things that come out on the web. And yes, there is all the razzmatazz out there.
So, that is what you’re up against. In order to not only stay relevant but also to make a profit out of it. Which is absolutely doable by the way. You have to kick down on the gas and compete. Adapting and improvising with whatever that may come your way. Here is where gathering intel will give you a colossal competitive advantage. And that brings in the concept of business analytics.
Business Analytics: Because Knowledge is Power
The great Peter F. Drucker very truthfully wrote that “What gets measured, gets managed.” It holds true to this day, especially in the sphere of Digital Marketing. People are going online every day. They are searching for products to buy, services to avail. Also, learn stuff, casually or otherwise. Also, there are social media platforms that get huge amounts of traffic for extended periods of time.
Basically, that is where the marketing is being done and more than that, a lot of customer information is accessible. From where they are going, to what they are looking at, to how long they are looking for. Software systems have codified it all.
This is a kind of gathering information regarding user behavior on the internet. And then, generating detailed reports from them falls under the wing of Web analytics. Moreover, that kind of thing is absolutely vital.
Now, the question is what is really popular these days, when it comes to making business decisions. The answer is the prediction. Prediction, based on solid reporting of customer data. Involving pattern recognition and disruption forecasts and all that.
Further, web analytics is not only limited to commercial endeavors. Everyone who has any kind of web presence, use web analytics. For gathering information for decision making and thus, serving their audience better.
This is what is popular in general marketing jargon as, Customer Relationship Management or in short, just CRM. For example, it is a known fact that return customers are a much better prospect than new ones.
So, with data on that section of the customers, you can serve them better. Plus, there are many more things that you can do. As we said, knowledge is might.
Tools of the Trade
To carry out operations as important as this one, you’ll need the best reporting tools that you can find. Google Analytics is the best tool for this kind of task. It is mostly free but does have other paid features, that make it even more effective.
Other than that, there is also fantastic software dedicated to the purpose of web analytics reporting. These are ‘SAAS’ systems and here are a few of them.
- Hubspot: Testing out ideas have never been any easier. With this at your hand, you’re well off.
- Analytics Pros: In case you’re running a small-time operation and have a limited budget. This will be your best bet.
- Tableau: This one is the best for getting deep into whatever data that you have got and making deductions out of it.
- STAT Search Analytics: This one is quite special as it’ll give you the benefit of tracking your rankings.
There are other tools and procedures for advanced web analytics as well other than these top of the line ones. These ones are paid tools, but definitely worth the pay.
Into the Advanced Web Analytics Now
With every passing day and the advent of every kind of new data mining technology, the web analytics scene is now more dynamic than ever. If you’re a marketer looking to use web analytics reports to your advantage. Then, you always have to be on the offensive.
Firstly, you have to learn all the new things coming up. Only then, you will be able to work around them, or better yet, use them to your advantage. With the tools that we have discussed here. Working with advanced web analytics would be much simpler.
Basically, with every person’s activity on the internet, a lot more is recorded. In terms of individual detail, with devastating precision. That way, whoever is accessing the reports now will know, for example, the age groups, the gender distributions. Also many more such fine details.
The majority of traffic that a website gets, originates from search engine activities. However, the data that was previously available as regards to these pathways was insufficient. But now, with what is possible with the advanced versions of digital marketing analytics. Figuring out the search process of the searchers in clear and concise reports will be very, very helpful. With this data, you’ll be able to better take care of your SEO Techniques.
There is now an ocean of possibilities with such advanced web analytics. With the proper understanding of these, you’ll be able to carry out more effective online marketing campaigns. Additionally, there are a few such advancements in the field of advanced digital marketing analytics. That will be the most important for the marketers looking to win in this economy.
The Notable Developments in Web Analytics
Up until now, the focus has been mainly building on top of what is available. More data, both in scope and in range. Moreover, the ones in this section are the new kids on the block so to say. Not that outlying per se, but definitely game-changers.
Using Time Series Data
All the data used in web analytics reporting is more or less against a measure of time. But with the state of the art web analytics systems available, it will be a lot more precise. There is a lot of programming that is involved with this and with that. There are automated systems. Also, prediction being as important as it is; will be a lot more accurate as well.
The Golden principle of sales is prospecting. What it is in simple terms, is that there are groups of people out there whom you can try to sell to. Some will buy, and some won’t. So you’re better off figuring out who your potential customers will be and focusing on them.
The tools available with Google Adwords would let you do three main things:
- Matching Customers: First, you give AdWords all the email addresses you have in your inventory. AdWords will match up the data of the customers and help you with finding the best prospects. And with that, you can carry out email marketing as well as SMS marketing. SMS Marketing is a very effective marketing channel that you should definitely learn about.
- Ads On Gmail: Once you have the data on your prospects, a very focused system of targeting will be the best choice. That is where the Gmail Ads come in. Now, you can go with this kind of permission marketing scheme, market directly to the inboxes of your potential customers. No other platform along with their possibilities and limitations in your way.
- Location-Based Targeting: You can also target your potential customers within a particular geographical region. Very well suited for targeting campus facilities.
A phenomenon in data collection that is going to bring in a lot of qualitative and quantitative improvements. Basically, you’d get analytical information from the software platforms directly, without any kind of mediation.
Furthermore, this is not the exact same thing as the business Intel systems. It is different. The business intel systems available are tailored to report on data for a much wider context. Embedded analytics is not that at all.
Context is the main thing here, making it a much more intelligent and efficient tool to work with. What makes it essential for marketers is its flexibility, which in turn would increase general productivity.
No need for switching between systems for gathering data around one topic. You’ll get all the intel you need from a single interface. And be able to work with it right there. Salesforce is the best example of this.
This article although covered the main things in the case of the advanced web analytics. It is still all surface-level talks. It is only going to get better and better every season.
Additionally, with the improving user-friendliness, more and more marketers will adopt these. Thus, more power to them. And with the success of it all, which is inevitable. Having dedicated strategies for advanced digital marketing analytics systems will be mandatory.
Therefore, if you’re reading this today, it’ll be best for you to get on board as soon as possible. It is going to be absolutely essential for you as an online marketer to use all this. So, why not take on this early?