Why do you need to apply digital marketing analytics to your business? Evaluating the effectiveness of your online strategy is crucial to determine its success. Would you like to learn more about these techniques and how to implement them?
What is digital marketing analysis?
It consists of a valuable personalized study that evaluates the online presence of a business to determine the effectiveness of current actions and identify areas for improvement.
The analysis combines data, observations and marketing expertise to provide insights that can be applied to specific channels or a set of actions, such as comparing website performance to social media presence. It’s important to note that the study should also include a competitive analysis to gain a better understanding of your social media position within the industry.
By conducting this study, you can gain valuable insights that can help you refine your online strategy and stay ahead of the competition.
Digital analysis functions
Among the contributions this type of study can provide to local businesses, the following are most notable:
- Completion of a SWOT analysis, or in toher words, getting the chance to determine the strengths, weaknesses, opportunities and threats that have an impact on the development of your business.
- Identification of areas with room for improvement.
- Priority signaling to optimize business decisions.
- Detection of business opportunities
Undoubtedly, the comprehensive features of online marketing analytics will aid you in efficiently evaluating the effectiveness of inbound marketing for small businesses in your company .
Digital marketing data analysis metrics
The main digital information analyzed includes the following metrics:
- Income earned from business activity.
- Transactions carried out at any given time, as an indicator of user behavior patterns.
- Revenue generated by a customer throughout their relationship with the business.
- Possibility for users to recommend you to their immediate environment.
- Product and product feature analysis.
- Number of visits to the website and how users reach it.
- Product return rate.
- Customer transaction abandonment rate.
- Percentage of conversions.
- Usability, including a study of functionalities and website design for small and medium-sized companies.
How is the data analyzed?
If you want to perform an in-depth analysis of your company’s digital strategy, you should know that you can use some of the following strategies:
- Customer segmentation, to achieve the creation of behavioral patterns. This will help to detect business opportunities with the various products.
- Survey analysis, which allows you to gather information that directly affects your SME’s customers.
- Customer journey: discovering how they interact with your website or presence online helps you detect your potential for improvement.
- Factor analysis to identify similar customer groups and responses.
- Analysis of customer transactions, allowing predictions and detection of patterns.
- Analysis of the variables that affect customer satisfaction.
- Pattern detection through neural learning, which helps predict customer needs.
How is a digital marketing analysis performed?
Although this is a job to be carried out by professional specialists, being knowledgable about digital marketing strategy analysis basics can help you understand just how complex the work is to be done.
This type of analysis includes the following steps:
- Defining the details, depending on what you want to know. For example, it is common to assess the performance of SEO that has been used for a website.
- Selecting tools. The most appropriate must be selected for the data to be extracted, and to set them up properly in order to optimize their use.
- Reading the data in order to arrive at interpretations of what that data means.
- Selecting the most important information. In other words, the information that offers you high-quality that will help you achieve your goals.
- Comprehensively interpreting all data so that you can fully evaluate all activities carried out as part of your company’s online presence.
- Creating a document that combines all of the information you have gathered, stating the problems detected and ways to solve them.
- Explaining the results of this analysis to the client. Once the digital marketing professional who has analyzed your business’ online presence has reached the final conclusions, they must provide guidance on the decisions to be reached.
The importance of data analytics can be seen in the large number of digital marketing strategies through which it can be implemented.
- An optimized content strategy is essential to create truly effective digital interaction with users. Its effectiveness focuses on the information provided, which is key to understanding potential customers.
- SEO optimization, which helps you discover the keywords and platforms that can improve your business’ online presence.
- The UX or user experience strategy. Analyzing web data and customer behavior helps you figure out how you can simplify the actions they carry out while browsing. This also makes it easier for web design professionals to do their work.
- Web audience segmentation. To better understand your customers and reach informed decisions, it is important to group users based on their website behavior. Analyzing this data is critical to predict the outcomes of your marketing strategies and refine your approach.
As you can see, digital marketing analysis is a crucial aspect of your business’s success. By analyzing the data, you can identify the strengths and weaknesses of your online marketing strategy and take steps to optimize your digital presence. To streamline the process, consider utilizing tools like Kites, especially if your business primarily uses social networks for promotion. Kites can help you perform a comprehensive analysis, allowing you to make data-driven decisions and stay ahead of the competition.