Analytics and the Role of Data in Digital Marketing - WSI NetMarketing

Analytics and the Role of Data in Digital Marketing

Analytics and the Role of Data in Digital Marketing

Why data gives you an advantage

Author: Newsdesk/15 December 2016/Categories: News

What is data and what can it do?

Web analytics tools collect and report data on how people interact with your website. Reports, metrics and dimensions can help show which digital marketing channels send people to your website, where they land, where they go and how they are active on the site.

This all allows for smarter, more informed decision making about digital marketing and web presence. Data can been used to improve the customer experience, drive interaction, increase brand awareness, to name a few.

Sadly, no analytics tool is perfect, however data is precise and informative. By interpreting the data and reporting on what is happening, WSI can make digital marketing suggestions based on facts and figures.

 

What figures matter?

The most important pieces of data are the ones that directly relate to a business objective such as revenue. However, all data is important and there are various types of data:

 

Macro conversions

A macro conversion is the main action you want a potential customer to take on your website. Most businesses will want that to be a purchase or an enquiry.

 

Micro conversions

A micro conversion is a less significant action but can still be equally as important. Micro conversions may be a download, signing up for a newsletter, comment on a blog post. Anything that shows the visitor is becoming informed about your product or service is considered a valuable insight.

 

Cost per conversion

A simple business calculation - if you spend £100 that results in 4 enquiries, your cost per conversion would be £25. This way you can see whether or not your efforts are worth it. By analysing the cost per conversion businesses are able to see which digital marketing channels are most cost effective and allocate resources to those providing the greatest return.

 

Conversion rate

Simply, it is what it says, conversion rate is the percentage of traffic that converts successfully on your website. It is calculated by dividing the number of conversions by the number of total visits, for example if you had 100 visits and 5 conversions the conversion rate is 5%.This metric provides a strong indication of traffic quality to see whether visitors are genuine customers, and it allows you to see if your website is serving the clients needs.

 

Creating a dashboard

WSI can offer a dashboard report of key statistics and data. A dashboard will be both informative and actionable, providing a clear insight on activity and resulting outcomes.

Pre-defined metrics and clear goals will be discussed when setting up a dashboard. WSI will not only analyse and report the data, we will assess it and provide recommendations and suggestions where necessary.

Here is an example of visibility statistics, to show where keywords are ranking for a client.

 

 

The dashboard shows the position, the previous month and year's position and a visual graph to show progression. Other metrics for a dashboard could be number of website visits, form completions, time spent on the site, visits to particular pages, whitepaper downloads, video views, social media visits, the list goes on.

 

Common Analytics Mistakes

  • Focus: It is our mission to identify the metrics that matter in a sea of data and focus attention and actions accordingly.
  • Segment: Visitors come to your website in a variety of ways, for different reasons. Never group site visitors under one roof, segment visitors by source, behaviour and activity for great accuracy.
  • Goal first: Set the goal then use the data to realise it. There is no point looking a data if you have no idea what you wish to achieve.
  • Qualitative and Quantitative: The main goal is to better understand how to serve the customer online, therefore you must remain open to every available method for obtaining insight but always stay vigilant to ensure the data you are receiving is relevant.

 

Big Brother?

Web analytics is about tracking activity on the web, what people do, how they interact on the web. To enable us and others to obtain the data required it relies on "cookies."

A cookie is a small piece of anonymous data a website sets in your browser as a means to connect activity with a particular user.

First party cookies are the most common and they will not share the user data they collect. Google Analytics uses first party cookies which is why it is considered one of the best and most widely used analytics software. At WSI we have consultants who are Google Analytics Certified. 

Third party cookies allow other websites to access the cookie information and collect or store additional information such as where a user has been and what they've done. 

The laws surrounding internet privacy are defined in part by the types of cookies allowed to track visitors and how information is used. However third party cookie rejection is increasing.

 

In Conclusion

Predictions are often challenged, sometimes for the worse, other times to support what you've known all along. Analytics provides the opportunity to measure and review digital marketing giving you a full picture of whether on not what you are doing is working or not.

 

For more information on analytics and dashboard reporting contact WSI.

 

 

 

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