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Is Analytics Crucial To Your Business Growth? What is analytics? Analytics is a set of tools that measure and analyze data collected from a website or application to help businesses learn more about their target audience, increase revenue, and provide better customer service. It doesn’t have to be complicated when you have the right resources and learning tools.
Many different types of analytics are available such as web traffic analytics, conversion tracking analytics, key performance indicators (KPIs), marketing automation analytics, digital transformation analytics, competitive intelligence (CI) analyses, social media monitoring and rankings analysis.
The following article will provide some insights on how these work for different types of business needs.
Marketing Automation Analytics
Marketing automation focuses on automating repetitive tasks to increase productivity and streamline your processes. It also saves time, reduces human error and allows you to better serve customers. Marketing automation analytics provides reports that allow you to know how many emails were sent, how many were opened, and how many were clicked on. Using analytics you can see which of your emails are effective and those that aren’t so you can stop using the ineffective ones.
Lead Tracking Analytics
Lead tracking is an effective way for website visitors to opt-in for future offers like newsletters or promotional messages. You can learn more about your audience and determine how to best attract them. This can also be used for sales follow-ups or lead generation campaigns.
Web Traffic Analytics
Web traffic analytics shows you what keywords people are using to find you, which pages they visit and how long they stay there. Web traffic analytics doesn’t just show you who is visiting your website but it also shows you what marketing tools are producing the most leads, sales, or customer service calls.
Competitive Intelligence Analysis
Competitive intelligence (CI) analyses track your competitors’ activities such as blog posts, social media activity and online news articles.
Digital Transformation Analytics
Digital transformation analytics is a way to measure how your social media activity, website and mobile applications are performing. For example, if you make changes to your website then you can analyze which new features are working best.
Key performance indicators (KPIs) shows the status of your ability to reach a goal such as meeting sales quotas or hitting marketing campaign goals. It’s important for businesses to know what their KPI’s are and how to increase them. Businesses have KPIs for revenue goals, customer service, time management, email engagement and more.
Components Of Web Analytics
Web analytics has two main components: qualitative and quantitative. Qualitative analytics focus more on the qualitative part of data, such as what people are saying about your brand. Quantitative analytics focus on the raw numbers and data, such as which web pages are getting the most traffic. Having both of these types of analytics gives you a comprehensive look at your brand’s performance and how to improve it.
So, Is Analytics Crucial To Your Business Growth?
Small businesses have an advantage over large companies because they’re flexible and can change their business strategies easily to stay competitive. Small businesses are more agile and can take advantage of opportunities like opening a new location. They don’t have to worry about red tape or large start-up costs. When they see an opportunity they can act on it quickly. One great way to take advantage of opportunities is to use web analytics to understand your audience and improve your processes.
Using business analytics can help your business achieve higher goals such as increasing sales or getting more customers. The information you gather will show you what your customers are looking for and give you an idea of how to improve your business. Not only that but analytics can also help your company find new revenue streams and increase productivity. Be sure to work with a web design company that is willing to help you understand key performance indicators, gain new insights and increase revenue by using analytics.
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