Analytics tell a story about your business’s current and past success. But how do you translate analytics into a narrative that helps you make marketing and sales decisions? Using analytics to optimize business marketing and sales strategy requires consolidating the raw data into an informative and easily digestible report of sorts.
Learn about the basics of analytics and how to use them to make data-driven decisions for your business.
What Are Analytics?
Analytics are datasets provided by different technologies. For example, websites provide analytics that measure bounce rates, page visits, and actions visitors take. Sales and marketing analysis often require website analytics to further develop their strategies. You can also retrieve analytics from:
- Social media platforms
- Product sales pages
- Email campaigns
- Project management applications
When you measure the right analytics, you can understand current and past action trends on any of those platforms. However, consolidating it to make big decisions involving multiple people requires a little more effort.
Using Analytics to Optimize Marketing and Sales
When using analytics to optimize business marketing and sales strategy, you’ll uncover a wealth of information that reveals how your customers or potential customers respond to sales pages, calls to action, and other elements that invite them to interact. Successful businesses use analytics to:
- Improve upon their current formula by identifying what drives visitors away and what makes them stick around
- Develop more efficient strategies that require fewer resources with fruitful results
- Research their target audience
- Measure their staff’s overall performance
- Predict upcoming sales trends
- Identify realistic goals
Analytics can essentially function as a map and an instruction manual for achieving success.
Decoding and Using Analytics for Your Business Marketing and Sales Strategy
After accessing the countless graphs, charts, and tables of data, you need an effective way to repackage the information into something more digestible. Many digital platforms allow you to download data from a given timespan. Once you download the data, you can begin decoding the metrics to use for sales and marketing decisions:
- Before arranging the analytics, identify your goals. What heights do you want your business to reach? Under what categories do they fall?
- Choose the sources that will provide the best information. For example, product sales analytics will help you figure out how to reach sales goals.
- Arrange the data into a more comprehensive, readable form. You can do this with executive dashboards or creating visualized data charts.
- Analyze the data and strategize. The analytics should help you identify necessary adjustments to help you reach your goal.
- Put your plan into action. If you want your website to earn more product or service purchases, experiment with more streamlined descriptions or add more visual elements.
Analytics for Data-driven Decisions
Using analytics to optimize business marketing and sales strategy is an ongoing process. Metrics typically update daily. After a week, your preferred platforms should provide sufficient new insight to help you make informed decisions.
By gathering data and reviewing analytics consistently, you’ll push your business and team toward success.