Hello Hello everyone!
You're welcome to another post on my journey to learning about Digital Marketing. I hope you've been learning as much as I have.
Today we will be talking about Analytics. Personally, I believe analytics is so powerful and useful in the growth of your business. Today I will be explaining the things analytics is capable of.
First, what is Web Analytics? It is all about using the data you collected from your website to give you insights about your business. Now are these data? There are two types of data;
- metric: this is basically anything you can count such as unique visitors or time spent on your site. If you sell products; through e-commerce, you can see how many products have been sold and how much money you're making. Cool right?
- dimensions: it is any kind of data you can use to describe something you're tracking with words like browsers used by your site visitors, the geographical locations of your visitors etc
To use analytics tools for your site, you will have to do a few things so that it syncs with your site properly and automatically.
- you'll need to copy and paste some "special" code into your web pages. This can be done with the aid of a software engineer. They can get this code from a code console.
- there are a lot of analytics tools out there and I have mentioned a few in my previous posts. Your next step is to configure the tool that is related to your business
- then you can start tracking your goals with your analytics tool.
Another way to look at data is in two ways: quantitative and qualitative data.
Quantitative data is any data that you can put numbers to such as the number of lipsticks Anna has sold on her website or how many shirts David has sold on his website.
Qualitative on the other is any descriptive information that you can't put a number on like the feedback from your customers.
To understand how analytics works, you need a deep understanding of how data works. There is something called a "Data Cycle" and you will need to understand how it works to know how and what to do with analytics. There are four major stages of a data cycle;
- plan
- do
- check
- act
I will explain how they work with an illustration.....
Brennon owns The Gentlemen Brand; a male clothing line that makes suits and shoes for men. He plans to run a campaign to attract more users to his website so that they can place orders for suits and shoes. He draws out a marketing campaign with his team and then they get to work executing the plans and monitoring the progress of how their campaign is doing online. After a month of running ads on different platforms, Brennon and his team analysed the data gathered and the feedback. From the data, it shows that 70% of his visitors came from social media ads he put out, 20% came from display ads and 10% came from search engines thanks to SEO and SEM. He was also able to identify that most of the visitors on his site live in Lagos just like his business and a few lived in Abuja and Ogun state. He and his team analyzed this data and realized they would focus more on running their next ad campaign on social media than anywhere else.
This explains how the four stages of the data cycle work. The reason he was able to monitor the activities of all his users and get this feedback and how to fix them without asking his customers directly is because of his understanding of how analytics works for his business and his having a defined goal for each ad campaign he ran. At the end of the day, the most important factor is knowing what works for your business and setting the right goals. There are a million and one analytics tools for different purposes for sites and ads. Instead of bombarding yourself with all of them. Start by planning and moving from there.
All in all, working with analytics and understanding the data is key to sustaining your business online. These four steps can be repeated over and over again till you get the perfect hang of it.
I hope this was insightful. Till the next post.
Franny.
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