If you’re a small or medium-size enterprise (SME) that wants to grow and invest in digital marketing to achieve that, you’ll want to make sure that every marketing dollar is spent wisely. If you’re not using Google Analytics, you may not be maximising your digital marketing budget.
At FutureMarketer, we believe in the power of Google analytics because we have used it several times to help businesses increase sales and get profitable insights from their digital data. In this article, we share why Google Analytics could be the key to your company’s success!
Why is Google Analytics critical to your SME’s success?
Google Analytics uses your existing data to measure what is important to grow your business, so you move from guessing to making informed decisions based on data. This data analysis will help you detect and resolve an issue with your digital marketing investment before it becomes a problem or a waste of money.
Simply put, knowing the kind of digital marketing that works for your SME will help you scale-up faster and with a smaller investment. As an SME, growth is invaluable.
Here are five ways Google Analytics can benefit your SME
1. Set effective business goals
Each goal you set should be tied to a measurable result that adds value to your business. Analytics helps you identify what works for your business and thereby set focussed KPIs. That way, you can tell if a certain digital marketing activity (digital banner ads, for example) belongs in your KPI tracker or the trash!
While profits are important, some of your KPIs should also be tied to your company’s values. For example, you might want to position yourself as the leading SME in your field for customer responsiveness. Analytics gives you clarity on whether this qualitative KPI is actually translating into increased business.
In short, you’ll now have access to insights that will allow you to develop the ideal mix of quantitative and qualitative KPIs for your business.
2. Identify key customers
If you are an SME, you may be relying on your digital marketing to get leads; or if you are conducting e-commerce, then direct sales. So it becomes very important to know – what is the probability that a potential visitor to your website can become a customer or a lead? On which pages do visitors spend the most time, and on which pages do they leave your website? What are some of the common behaviours of those who become leads or buyers – or what are the common behaviours of those who leave your website without converting into a prospect?
Google Analytics helps you answer these questions so you can identify the right customers for your business.
3. Target, acquire and retain your key customers
Identifying key customers for your SME is only half the battle.
Every website visitor has the potential to become a customer, and every customer has the potential to convert into a loyal brand ambassador.
Google Analytics helps you understand the demographics of your website visitors so that you can target specific content to them. Since it also helps you understand where potential customers are leaving your website, optimising your interface and user experience becomes easier and will result in them spending more time with you and ultimately buying from you.
For example, do you have a lengthy sign-up form which your stakeholders love but deters visitors from completing it? Google Analytics can turn your gut instincts into hard data that will allow you to know exactly which part of the form is driving people away. Once you know that, you can improve the form to acquire more customers. If you can constantly optimise your customers’ click-to-conversion journey in this way, you’ll be able to retain your existing customers and encourage repeat purchases.
4. Create a culture that emphasises progress instead of perfection
Any SME that wants to scale up can only do so if it does better this month than it did last month. Google Analytics allows you to quantify that progress.
Whether you want to A/B test your designs, carry out SEO for your website or optimise keywords for your paid digital marketing campaigns, Google Analytics will give you the insights you need.
Google’s Digital Marketing Evangelist Avinash Kaushik, too, is an advocate of a data-driven business culture (as opposed to opinion-driven). As he famously said, “Don’t let HIPPO’s rule over your data!”
More importantly, you’ll save money by testing and optimising your digital marketing through data and analytics. Instead of repeating what has been working, Google Analytics lets you test your budget, understand your conversion rates and optimise your marketing strategies. The end result? You get a higher marketing ROI with the same budget!
5. Receive customised marketing reports that are useful to every stakeholder
Google Analytics tells you whether your marketing is actually driving traffic to your website. It also allows you to analyse the source of that traffic – backlinks, paid ads or other sources – through reports and dashboards. If you know what content attracts the most traffic, you will be able to create more of it – maybe even the next trending article.
Furthermore, Google Analytics lets you customise marketing reports. This ensures your teams spend time doing their jobs instead of generating reports after reports. If someone from your sales team wants to see conversion data, Google Analytics can provide it. If your web designers want to know which web pages attract the most visitors, Google Analytics will give them answers!
Get started on your journey from click to conversion
As you can see, Google Analytics will help you save money and boost your bottom line. In fact, you might be losing money by not using Analytics!
The best feature of Google Analytics? It is free unless your website exceeds 10 million hits per month. As a SME, this is of value to you as it will help you optimise your marketing budget.
Learning to use Analytics well, however, can be a complex journey; and it is difficult to learn it in a structured and easy way on your own.
Let us simplify this journey and make it easier for you to launch, measure and optimise profitable digital marketing campaigns. Attend our two-day Google Analytics course for a hands-on look at using Analytics to boost your business. Check out our next Google Analytics course in Singapore.
At FutureMarketer, we believe in providing practical training that is free from unnecessary digital jargon and can be applied to your work for years to come. 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.”
For more details on our upcoming Google Analytics training, feel free to drop us a line at [email protected].