WE’RE LIVING IN the digital age, and by now, you know the importance of having a digital marketing plan. Maybe you’re using social media to grow your business or you’ve launched marketing campaigns to attract more patients.
But how do you tell how your marketing efforts are performing? That’s where data and analytics come in.
By making sense of your data, you can maximize your campaign efforts and optimize the return on investment (ROI).
Be patient — data sets don’t emerge overnight. You need a solid period to allow data to accumulate so you can note patterns and trends. We say a minimum of 90 days.
Analytics 101
Digital marketing is exciting for many reasons, but analytics may take the cake as the most exciting. Never before have marketers and business owners been able to understand their marketing efforts and make calculated, data-driven decisions.
Marketing analytics allow you to measure, manage, optimize, and analyze your digital marketing efforts. Let’s say you’ve been using a digital marketing tool like Instagram for the past year. At the start of the year, you set a goal to reach 100 new followers each quarter and increase engagement by 15%. Over this time, you’ve made regular posts, replied to comments, and followed others in your community.
How do you know if your efforts are working? Data and analytics are your answer. Your data and analytics illuminate the areas that need more targeted effort. So, for the next quarter, you can increase your social media presence and try to hit (or surpass) that mark.
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What Data Is Important?
For a foundation, the following points are essential to be aware of:
- Audience
- Engagement
- Click-through rate (CTR)
- Conversion rate
- Bounce rate
- Reach
- Impressions
Your Story
Think of data and analytics as the who, what, when, and where of the story — they give you the frame. However, without the why, it really doesn’t mean anything. Analytics need to be brought to life and framed to convey their best story. Take advantage of online courses and data tools to help create this story, like Google Analytics.
Get Your Team on Board
When reviewing your analytics, celebrate your successes and identify your areas for improvement. Involve your whole team in telling the story of your data so everyone feels accountable and capable of making a difference. It’s crucial to not simply tell your team the story; create the story with them.
You Can Always Hire a Pro
If this is out of your wheelhouse, don’t fret. Plenty of professionals analyze marketing data for a living. They look at your results, and they can formulate a marketing strategy that will help you reach your goals — and eventually, knock those goals out of the park.