According to SPRING, there are 180,000 small businesses in Singapore, which make up 99% of all enterprises on the island. Chances are your company is one of those small- or medium-sized enterprises (SMEs). That means you’re in a highly competitive field and you should ensure your digital marketing campaigns are giving you the edge you need. At FutureMarketer, we want to help you maximise the impact of your digital marketing.
One way to differentiate your business through digital marketing is by building awareness for your brand online. Our search advertising, display advertising and social media marketing courses provide an effective guide to increasing your online visibility.
But what if you already have enough brand visibility and you just want a better sales conversion? What if you could close more leads and sales without spending a lot on digital marketing? This is where web analytics can come in handy.
As a SME, you probably have some of the most powerful web analytics tools in your arsenal: Google Analytics Premium, Google Analytics, Adobe Omniture, Mixpanel, Yahoo’s Flurry, Crazy Egg and Hotjar. But perhaps you haven’t used any of them yet.
To fix that, here are six quick ways to boost your company’s bottom line through web analytics:
1. Set Up Goals
How do you know if your organisation is growing? Setting appropriate benchmarks and identifying your macro and micro goals allows you to measure your performance and consequently improve it. Transactions, leads, signups, phone calls and app downloads are all imperative to your business’s performance and are termed ‘Goals’ or “Conversions’.
Nearly all web analytics tools available today allow you to measure website traffic, page views, impressions and even conversion rates for your business goals.
2. Track Your Social Feats
Your social media marketing efforts don’t have to be a gamble. Using web analytics, you will be able to see how each social media platform attracts attention for your brand and results in site traffic.
By using the internal analytics tools for Facebook, Twitter, Pinterest, and Instagram, you will be able to understand where exactly your customers are more active and engaged.
Ideally, your small business should marry the data from your website with social media analytics. This will tell you the content, time of day and type of pages that result in more interactions and higher conversion rates. Using such data could ensure that your social media initiatives support your business growth.
3. Fine-tune Your Presence on Search Engines
Do you want your website to rank high on search engine pages? Glancing at the keywords and pages in analytics will show you the number of visitors your landing pages receive and the average positions of your content pages.
This area of data monitoring is all about ‘word-dominance’ – highlighting the strength of your copy, keyword strategy and metadata descriptions. You may even look at popular queries fed into Google to determine ways of becoming more relevant to your customers and letting relevant customers find you.
4. Study Your Sales Analysis
One of the most insightful features of new analytics tools is the ability to measure the performance of your digital traffic and financial patterns. You may notice that certain areas of your website need more focus than others.
To determine your ROI using web analytics, you can set the price of your particular product or service (in the desired currency) to know how much your business strategy is actually worth. Not all products and services are equal in worth – some are worth more and some less. Tracking the behavior of your online investments versus the real-time results will also allow you to make instant decisions about marketing or setting up special offers.
5. Look To Attribution For Guidance
Using attribution, you get a simple and clean summary of where your conversions take place, which sources made it happen and where you could build future promotions.
However, most businesses today are stuck with first or last click attribution – both are gigantic mistakes! The running joke is that…
“First click attribution is akin to giving my first girlfriend 100% of the credit for me marrying my wife.”
– Avinash Kaushik, Digital Marketing Evangelist, Google
Comparing the different types of conversions such as ‘last click’ (where the final decision was made along the navigation process), ‘direct’, and ‘assisted’ will show you where you should implement stronger sales and marketing tactics.
6. Make the Most of Dashboards and Automated Reports
Creating relevant dashboards and reports for your marketing efforts perhaps contribute the most to boosting your bottom line. Most of the web analytics tools today allow you to have full control over the information included in your data report. These reports can then automatically be sent to you via email to share with your entire team.
With these six simple tips, your journey to attracting and winning the loyalties of customers should be smoother than ever. Using analytics is a great first step to increasing your marketing ROI, as it gives you a great foundation for customer engagement and strategic growth. As Peter Drucker very correctly said, “What gets measured, gets improved.”
Do you want to begin your analytics journey towards more profitable digital marketing? Check out our next Google Analytics course in Singapore. At FutureMarketer, we believe in removing digital jargon to give you practical knowledge long after you leave the training. As one of our past Google Analytics training participants said:
“The explanations were easy to understand from a layman’s perspective, which I appreciate seeing as I’ve not used Google Analytics before.”
To receive exclusive details of our upcoming Google Analytics training, feel free to drop us a line at [email protected].