There were times when marketing measured in cold and simple numbers – it was all about establishing the correlation between the funds spent on advertisement and the revenue – if the latter goes up while the former increases, then everything goes as it should. Not to say that this simple formula outlived itself, but it became much more complex and full of intricate details. Digital marketing analytics is one example of such intricacies.
If you don’t get the results your strategy deemed achievable, it means something goes wrong either with the planning or in marketing methods. To find out the cause and improve not only the results and KPI but aims and goals you and your department need to achieve, you’ll need to combine different methods of analysis and reporting to discover which metric is responsible for underwhelming results and improve it by implementing new processes and techniques. Find out about everything you should know by combining digital marketing analytics with web analytics.
- Why should you use digital analytics?
- And why is it not enough to get the full picture?
- How do I combine it, and what are the benefits?
- What data can I track and combine?
Why should you use digital analytics?
If your business has a presence on the web, it means that you need to research the data behind the flow of users and their psychology. What is the first action user does when they launch your app or site? What can you improve to make the user experience pleasant and your company – welcoming and inviting, encouraging your clients to stay with your service? Why is the popularity on the decline? Or it’s maybe even on the rise, but the revenue doesn’t mirror that? What colors do they like, and how should you design your offline stores? Digital analytics is responsible for answering all of these questions.
And why is it not enough to get the full picture?
All the problems regarding the online part of your service should be resolved by a digital analysis sub-department – the web one. It is important but limited to the website’s functionality. Combine the data you get from your site with sales, revenues, and other metrics to make the picture of the relationship between your company and its client’s crystal clear.
How do I combine it, and what are the benefits?
It all starts with the goal you set to achieve. Want to up sales or conversions? Clicks or specific actions in your app? Web-based analytics provides you with hard numbers, and digital research broadens the horizons on using them. Examples of combining these approaches include:
- Studying the users’ behavior to provide them with the best fitting product;
- Compare your online and offline ads to see which brings more customers and how can you use one to influence the other;
- Check out the other sources of traffic – social media & offline advertisement; study the peaks and reactions to your site to see where you can improve it.
- Combine all the data to study the user’s journey not only when they launch a device with internet access but from the first time they heard about your product. Yes, you can analyze the information from the call center and the website at the same time and incorporate it all into one big marketing analysis tool. That’s when services like OWOX Bi come in handy because of how they handle big data, merge it, store it in one place, and even visualize it for reporting.
What data can I track and combine?
Let’s divide the sources of data into four major categories. Analyze all of them together digitally and learn who your customer is, that brings them over and drives them away to perfect your service.
- Website: count your visitors and draw parallels between how the traffic increases or decreases based on your actions; measure conversions, study the most popular sections and subsections;
- Lead generation: discover how many leads turn into purchases, how much does it cost to bring a click in, and calculate rates between organic traffic and generated leads;
- Outside traffic and marketing: how popular is your brand on social media, and how much does it cost to maintain that image;
- Total sales: learn how your marketing, traffic, and decisions influence your total sales and revenue and find out which sources are responsible for bringing new customers, not just visitors.
When you merge all four categories into one analysis, it helps to identify the Holy Grail – the one (or a few) metrics that do the best job representing your business’s dynamics – its ups and downs and attracting new paying customers. Focus your efforts on that source and watch your company flourish. Of course, doing so requires a service like OWOX Bi to take offline into account and draw parallels between online decisions and offline purchases, but once everything is set and done, your analysis will achieve its goal, be it to determine the weak points, close them, or discovering what part of your business performs best and why.