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Why Data Analysis Is Critical For Your Growth

The data is going to tell you how your different marketing efforts are performing. You can look at short-term initiatives as well as long-term goals.

Ideally, the data will give you enough information that you can adjust your efforts as needed. You can turn that data into action items as you plan your marketing strategy. Specifically, the data should be able to help with the following.

Maximize Your Campaign Spend

If you are spending money across multiple channels, you should compare the performance and outcomes. It’s not only about clicks, but also how many clicks resulted in a conversion.

For example, tracking analytics on Google with a PPC & SEO campaign may reveal that some keywords perform better than others. Choosing the right keywords and monitoring the traffic will help you determine how much to spend to get the results you want.

Insights into Competitor Data

How your competitors are doing is crucial to making your marketing efforts successful. Those that are succeeding have likely found a combination of strategies that are bringing in conversions. Assuming they have already made some mistakes, you can learn from their efforts.

There are several insights you can gain through different tools available, including:

  • Domain Authority: How will Google rank the website?
  • Backlinks: How many links from external sites do they have?
  • Keywords: What keywords in your industry are being used?
  • Site Traffic: How many impressions are received?

"The output of work that comes from their team is priceless. We thought we would gain insight into our business, but instead we gained every bit of data at our own fingertips, ready to make decisions."

Wayne C.

Understand User Behaviors

When visitors land on your website, what do they do? What pages do they visit, and how much time do they spend there? Are they accessing your website on a mobile device or from a desktop?

User behavior tells you something about what the users are looking for and if they found it. You should be able to track the user across your various pages. If they are spending a lot of time but never submitting a form or responding to a CTA, then you need to figure out how to get them to that next step.

The more time spent on your site, the more engaged the user is. You can monitor the source of the visitor, whether it was from an ad campaign or a social media post, to know what users are absorbing your content as a willing audience.

Prioritize Different Channels

You need to meet your users where they are. If they are coming to your site as a result of an email campaign, then focus your efforts on emails. If blog posts are a primary driver of traffic, then make sure you create quality content and push it out across multiple channels.

Your analytics should tell you where the users are and how they are responding. Unsubscribes, low impressions, and less time spent on your site tell you a similar story that your efforts are not working in that particular channel.

You can make more informed decisions when you connect the dots on the data you have. It may take some digging to make sense of the insights, but the more data you collect over time, the better you can react. Ultimately, you want to prioritize the channel that is maximizing ROI.

B2B Web Analytics Implementation

With any of these tools, you need to think about how you would implement them within your organization. You will need resources to help you set up the web analytics and mine through the data results.

You should create a plan for web analytics implementation around the questions you want to answer. The web analytics solution you choose should give you the valuable metrics you need in a meaningful way.

Here are some key questions to guide you as you prep for implementation:

  • What are your goals from an organizational standpoint? Are you creating a new SEO campaign? Trying to optimize your website conversion rate? Looking to determine ROI on your LinkedIn ads?
  • What are your primary kpis / conversion points? Common examples include form submissions, demo requests, whitepaper downloads, chat bot requests, etc.
  • What tools do you use? This list will be what you need to intergrate into your data management platform. Examples include Drift, Facebook Ads, Google Ads, Linkedin, your Website, Hotjar, Calendly, etc.
  • Set up. It’s crucial to have somone in your organization or an analytics vendor that can help you set up your program correctly from the start. That all of your tools are connected, conversion points are implemented, and your executive overview dashboard has been created for whoever needs to regularly review the data.
  • Verification. You should test that your data is coming in correctly, isn’t muddied with innacuracies, conversions are tracking properly, and the correct filters have been set up.

Our Go To Analytics Tools

Fortunately, there are a lot of B2B web analytics tracking solutions available to gather data. These tools can help with your own website and channel analytics, as well as competitor research.

  • Google Analytics. The powerhouse in the marketplace. It is free, and nearly 40 million sites rely on it, including 51% of Fortune 500 companies.
  • Google Tag Manager. Allows you to add and update conversion tracking and other codes on your websites without needing developer resources.
  • Google Search Console. A collection  tools that can help you monitor and maintain your site’s presence in google search results. It allows you to see what keywords users are typing in to find you, page load performance reports, and even content indexation issues.
  • Google Data Studio. A flexible and easy to use business analytics tool that enables users to create and share what-if analysis & beautiful reports.
  • Ahrefs. A powerful and versatile SEO tool that will help you in all aspects of your optimization process including keyword performance, competitive analysis, and link building peformance.
  • Hubspot. An inbound marketing and sales platform that helps companies track leads, build funnels, analyze customer sources, and much more.

Important KPIs and Metrics

Of course, you will likely not be the only person interested in your web analytics. Taking the data and turning it into a consolidated report will be another step. Reporting needs to be easy to consume and reflect your results compared to your targets.

Reporting from your web analytics should give a breakdown of the visitors in terms of traffic and conversions. You should identify the preferred channels of your audience and the traffic driven as a result. Finally, you should look at content engagement and how much is consumed by your audience.

If you have set goals for conversions, you will want your report to reflect whether the goals are met. Goals can be anything from a Contact Us Form or requesting a demo. Goals can also include engagement, such as the number of pages visited by each visitor or downloading a brochure.

Any B2B web analytics tool will likely give you more than you need. The key is knowing what KPIs and metrics are important for your business. You don’t want to spend too much time chasing information that would not impact your strategy.

Here are a few questions that you will want your metrics to answer on an ongoing basis:

  • How much traffic is your website receiving?
  • How much of the traffic is new versus returning visitors?
  • How much traffic is coming from each source/channel?
  • How many pages is a visitor hitting?
  • How much time is a visitor spending on each page?
  • How many conversions are you receiving from your website?
  • How man website conversions result in closed sales?

As you gather this information, look for trends. You can break down your analytics into month-over-month reports, as well as compare results annually.

Beyond your web analytics, you need to compare to your actual sales results. That is the ultimate test of the effectiveness of your marketing strategy.

If you are receiving a lot of leads, but these leads are not qualified, then the effort was not effective. Somehow your content is not giving the right message and attracting the wrong visitors. It could be that the channel that produces the wrong traffic is also not the best source for qualified leads.

Of course, not every lead will result in a closed sale. As you track the incoming leads, try to identify those that are qualified leads. If qualified leads do not result in closed sales, there are factors to consider that may be beyond marketing scope.

Reporting Best Practices

Of course, you will likely not be the only person interested in your web analytics. Taking the data and turning it into a consolidated report will be another step. Reporting needs to be easy to consume and reflect your results compared to your targets.

Reporting from your web analytics should give a breakdown of the visitors in terms of traffic and conversions. You should identify the preferred channels of your audience and the traffic driven as a result. Finally, you should look at content engagement and how much is consumed by your audience.

If you have set goals for conversions, you will want your report to reflect whether the goals are met. Goals can be anything from a Contact Us Form or requesting a demo. Goals can also include engagement, such as the number of pages visited by each visitor or downloading a brochure.

Analytics Resources To Help You Grow

Analytics Resources To Help You Grow

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