Making Business Decisions with Analytics

If you aren’t using or paying attention to your analytics when making business decisions, then you may not be making the best decisions for your company. Analytics are extremely important for knowing and understanding your customers. They can help us assess the outcomes over target standards and goals, the relationships between factors and outcomes, and understand what improvements and changes need to be made. Let’s look at the ways in which analytics can help make better business decisions in details below:

There are different types of analytics that focus on different areas of our businesses to help us better understand our business overall. They help us determine what our business objectives are, translate those data into goals and create project assessments and new plans.

Predictive Analytics is a type of analysis that assesses all current and historical facts of our business to help us predict what our future outcomes will be. It identifies patterns through record numbers to help identify the risks or opportunities that may come to rise. This is called Data Mining. It also helps model the relationships between the different factors that can be of risk or bring opportunities for our business.

Descriptive Analytics looks at past data information to help assess and understand why there was success or failure in our business’ strategy. This is important to help us learn of areas where improvements or changes need to be made in our strategies.

Overall, having the right analytics tools can be crucial to our business decisions. Not only do they help us to better understand our clients and business but also, they are extremely useful for creating reports and summarizing the overall data. They collect the initial data, describe them, and help verify the quality of the data. By using analytics you can save half the time and effort in creating reports.

Persona Development

Persona Development is “a composite sketch of a key segment of your audience” (Ardath Albee). In other words, it is the legitimate process of creating a fake customer based on analytical information from your actual customers’ behavior. By creating personas, your company can gain a better understanding of how to deliver content of most relevance and usefulness to a particular group of audience. The best way to get the most accurate understanding is by creating 3-5 personas using a template.

In a template you want to gather both general profile and specific information about your persona. The more specific you get with your persona’s profile the better. This way your company will have a deeper understanding of your customers (their thoughts, feelings and behaviors) and will be able to find any overlooked tactical opportunities for your products/services. You will need:

– Name and job title

– Demographic

– Their goals and challenges

– Their values and fears

– Their hobbies

– Computer Literacy

– Where they get their news

– Blogs they read

– Customer quote

In order to come up with a specific profile on your persona you want to gather data information from your analytics to find out where your clients come from. Checking the keywords your clients used to find your business, and seeing how long they spent in your site can help you with this.

Another way to gather specific information is by communicating with all your team members that work directly with your customers. No one knows your customers better than those who actually get to communicate with them. These team members would be able to communicate the concerns and thoughts your customers bring up frequently. You can also get these informations by checking out all your social media accounts to see what your customers are saying about your company, as well as what questions they may have for your company.

If there are more specific information you would like to know about your customers, performing surveys and/or interviews are the best way to do so.

To find out more about persona development, contact Sperling Interactive.

A/B Testing

 

A/B Testing, also known as Split Testing and Bucket Testing, is a way of comparing two different versions of anything from websites to an app. According to Mike Sperling, the way it works is by showing versions A and B to a percentage of your consumers and test the outcome or response rate of each one. With that, the one that has the best response rate would be the one you send out to the rest of your consumers.

 

To get into more details on how to perform an A/B testing is by taking it as a scientific experiment:

  1. Start with a question, or the purpose for doing the experiment.
  2. Research consumers’ behaviors through analytics or past experiments.
  3. Make a hypothesis, or statement on the outcome of the experiment.
  4. Figure out the percentage of people you would like to perform the testing on and the length of the experiment.
  5. Perform the A/B Test where A would be the controlled substance and B is the variation.
  6. Analyze the study and conclude which form would be best to go with.

A/B testing is a perfect experiment to perform especially when making changes that could significantly increase leads, sales and revenue. These experiments are great overall because they help construct hypothesis and help get a better understanding of what experiences impact your consumers. If done consistently, it can even help gradually improve your site or marketing items.

 

This kind of testing can be done on anything, really:

-Headlines

-Sub headlines

-Paragraph Text

-Social Proof

-Testimonials

-Call to action

-Links

-Media Mentions

-Images

– Awards and badges

-Content near a fold

Benefits of Phone & Form Tracking

Phone and form tracking is just what it sounds like. It is placing different phone numbers on certain ad campaigns, landing pages, or any other marketing tool in order to track down which marketing strategy gets customers to pick their phones up to call the company. This system helps figure out which marketing strategy is most interesting to consumers. This way, you would be able to know which form is more effective and can focus on expanding on that marketing strategy rather than spending the money on the other less effective ones.

The best way to do phone call tracking is by registering for a call tracking software like Grasshopper, CallFire, Google Adwords, etc.. Not only will these software track what influenced the phone call but it will also track the location of the person calling and the length of the phone calls being made so that you can become aware of which one brings the best quality calls.

Another great feature about the call-tracking software is that they can generate phone numbers for you so that you can place them wherever you’d like. The software allows you to create both local and toll-free numbers. These numbers would be assigned names with labels or tags in order to make it easily searched when looking for the analytics.

By using this technique, not only will your company save money on marketing tools, but you could also get to know your consumers better, which ultimately keeps your small business competing with bigger ones.

Is your Business Mobile Ready?

How are you reading this blog?  Are you reading it on your desktop, laptop, tablet or quite possibly on your smartphone?  As of the start of 2015, Americans have passed the tipping point between desktop and mobile device usage.  According to Smart Insights, mobile use overtook desktop usage with 1.8 million people using their smartphones for a multitude of tasks including reading/updating social media, checking email, online searches, business reviews and of course viewing the millions of ads that are out there in the digital world.  What exactly does this mean for your business?

It means that the traditional notion of “going online”  has changed drastically.  With nearly 2/3 of all Americans owning a smartphone and accessing it daily, your company needs to be mobile ready . . . and now!  Here are some questions to consider when deciding if you really are mobile ready.

  1. How does your website look on a broad range of devices?  Consumers use many different mobile devices including iphones, Androids, Tablets, Kindles, and on and on.  (In the near future there will probably be even more devices to consider.) It is imperative then, hat your website be compatible with all these.  Responsive Design, therefore is the solution in order to be certain the mobile version of your website is readable and easy-to-use.  Responsive design means basically that your website is crafted to provide optimal viewing and interaction experience with a minimum of re-sizing, panning, and scrolling.
  2. Be Local – Research from Entrepreneur indicates that the majority of shopping/choosing services occurs within a 10-mile radius of home.  Due to this it is critical to be sure that contact info on your mobile website includes a map and phone number that makes it easy to find you locally.  Local mobile use also means that you can use real time special offers for people who are in your area. Geo-location services are also an essential part of your mobile strategy.
  3. Be Social – With Facebook, Twitter, Instagram, and all the other social media platforms at consumers fingertips it is easy to understand that being social it important for your company and brand.  Many consumers check online reviews or their social media channels for company information prior to purchasing.  Marketers who have integrated their mobile program with customer reviews and social media sharing buttons are reaping major rewards.
  4. Be Analytical – Monitor and keep up-to-date on the statistics about how consumers are using your mobile site.  This makes it easy to see how and where your best consumers have found you via their mobile device.  This information can be used then to plan how to spend the marketing budget in future campaigns.

Tracking your Landing Page

In the world of web site marketing it is imperative to figure out how customers have found your services or products online.  Did a customer click on an ad, enter a keyword, search specifically for your business or come upon your company through a series of links.  Let’s look at the basics of Landing Pages and how you can track where potential customers found your company.

What is a Landing Page?   Hub Spot defines a Landing Page as  any page on the web on which one might land that 1) has a form and 2) exists solely to capture a visitor’s information through that form. There are 2 basic types of landing page, Click Through and Lead Generation (also referred to as Lead Gen or Lead Capture pages). Click through landing pages (as the name implies) have the goal of persuading the visitor to click through to another page. Lead gen pages are used to capture user data, such as a name and email address.

Tracking your Landing Page – There are several ways to track the information coming in through your Landing Page. Phone number tracking, web forms and email lists are just a few ways to find out where customers are learning about your company and finding your site.  Google offers Analytics that track your Landing Page.  Google Analytics has quickly become the most popular website and web traffic analytics tool, and is used by 55% of the top 10,000 websites. Google can also help you track specific information about your customers such as: demographics, the return behavior of customers, mobile stats, and of course the source of your traffic.

Here are some resources to investigate how to track and handle the information on your Landing Page-

Hub Spot Landing pages Tracking

The Smart Marketer

Google Analytics- Landing Pages

 

 

 

 

Benefits of Visitor Detailed Analytics

In today’s data-driven world, analytics changed everything, from business to sports to even running our federal government.  You could say that it was a “game changer” of sorts because it drastically altered the way we generate insights about our world whether it is our personal life or business life.  By collecting and using data gathered from consumers clicking on our web sites we can transform our businesses!

Hold on to your seats because here comes the next BIG thing in the world of analyzing data!  Visitor Detailed Analytics produces NOT just analytic data but  turns anonymous website visitors into qualified sales leads.  Visitor Detailed Analytics has a massive advantage over statistics of traditional analytics in that it can provide your company with the real time data needed to convert leads into sales.It can tell you who visited your website, what products and services they clicked on, and can send an email the moment they visit your website.  All of this is done without requiring the visitor to log in or complete any forms.

This program is designed with benefiting the sales team and generating new leads.   By identifying visitors to your website, and receiving their contact information, you can impact sales and your bottom line.  Designed to be easy to use, all you have to do is wait for your website visitors to show up.  Visitor Detailed Analytics does all the work by sending you real time notification of those visits. This newest program has the ability to change your statistics into real life leads.