Data plays multiple roles in the world of digital marketing. First, depending on how successful a particular month is, it can serve as a means of bragging rights. Second, if said month isn’t as fruitful as unexpected, businesses can determine how to shift their strategies moving forward. These are just a few ways how marketing data can be useful, not only for businesses themselves but the Internet marketing companies that may assist them. The importance of data analysis for marketers can’t be understated.
Analyzing data may be easier said than done, though. From the various statistics generated courtesy of software to the ways in which graphs and charts must be read, it can be difficult to differentiate successes from failures. Fortunately, knowing how to read and implement data is one of the areas digital marketing and Long Island SEO companies specialize in. For those that would like a more in-depth understanding of data analysis for marketers, here are a few key points to know.
One of the most important facts regarding data analysis for marketers is that KPIs matter. KPIs, or key performance indicators, are measurements of value that illustrate how well a business is reaching its goals. The more successful a business is, in regard to meeting goals, the better their data will prove to be. Keep in mind that KPIs are scalable based on their importance, too. With these details in mind, KPIs play a collective role in data analysis.
Key performance indicators take on many specific forms, too, based on the aforementioned scaling. A low-level KPI, for example, can be attributed to more actionable, day-to-day tasks. Examples of low-level KPIs include, but aren’t limited to, the sales generated from an account management standpoint and technical support provided to clients. High-level KPIs provide insight into a company’s overall performance, annual growth included, meaning that they will be valued higher. When it comes to data analysis for marketers, this is critical information, since it helps businesses determine how well they’ve performed during a given period.
A common misconception is that data analysis for marketers only applies to a company’s official website. Without question, this is an important platform; it serves as the most prominent representation of the company at hand. This isn’t to say that it’s the only platform that factors into data analysis. A seasoned marketer will take a multi-channel approach, considering the traffic, engagement, and other variables associated with alternative platforms.
The channels in question can range from a company’s Facebook ad campaigns to paid search options that said company has invested in. Users are likely to learn about companies in various ways beyond the official website. In fact, it’s not unfathomable for a purchase to be made without a user even landing on a company’s homepage. A multi-channel approach is integral to one’s digital marketing efforts. Thus, it’s an important part of data analysis that shouldn’t be overlooked. It will provide key insight that might have been missed otherwise.
Data analysis for marketers will also include year-over-year analysis. Needless to say, any business will want to know whether the strategy they’ve implemented has yielded results over time. To provide an example, how has a company performed in January of 2021 compared to January of 2020? Google Analytics and other such tools can provide critical insight across various periods, which makes data analysis effortless, provided said tools are used properly.
Consider SEO, for instance; this is a strategy where a long-term mindset is needed. It will take businesses, especially those that are relatively new to their industries, several months to see noticeable growth. When comparing data from one year to the next, it’s expected that metrics including website traffic and keyword rankings will have increased. This is an example of year-over-year data analysis that will not only inform businesses but help marketers understand how well their efforts have performed.
With this information in mind, you should have a better understanding of data analysis for marketers, as well as just a few aspects of what it entails. Knowing how to acquire, read, and relay data will be integral to the success of any business. If you’re looking to expand your digital efforts, consult an online marketing company. Not only can they analyze data but, more importantly, use said data to craft a strategy that will best fit your goals.
About fishbat: fishbat is a full-service Long Island advertising agency that takes a holistic business approach to their clients’ digital marketing programs. The fishbat team understands the importance of business principles just as well as the nuances of the latest digital technologies. fishbat offers every digital marketing service available from digital marketing research and planning to brand development to website and asset creation through social media management and search engine optimization programs – all custom calibrated for both B2B and B2C businesses.
