There are important questions that you as a digital marketer must answer. The question is how to find important data that must be analyzed when doing digital marketing?
Important digital marketing data includes challenges that entrepreneurs must face. The problem that entrepreneurs face is not related to the lack of a list of available data, but rather not knowing which data should be the focus point when conducting analysis.
Factors That Cause Marketers Can't Find the Focus of the Data being Analyzed
Knowing which data is important to do, because this data is needed in making a digital marketing strategy and data driven marketing that is suitable for your business
Apparently, there are three main reasons why marketers cannot find the focus of the data they are going to analyze, namely:
- Do not understand how to make a match between goals and measurements.
- Don't know what the different data points mean, what is being measured, and don't know how to calculate it.
- Always wishing that important analytics could be simplified to a few data points.
What are the key points in data analytics?
In finding important digital analytical data to be able to do data driven marketing, you can use Google analytics. Google analytics is a tool that can be a guide for analyzing data from digital campaigns that are being carried out. Therefore, you need to master how to read data in Google analytics.
In addition, you must have knowledge related to data analysis, contextual understanding, be thorough, and also have to be patient. Keep in mind, you may not be able to see all digital marketing data points, and understand everything in your business marketing. But through Redcomm knowledge this time, you can find important data that must be analyzed.
In order to understand the data you have, first know the data points or the type of marketing measurement. Then, discuss it with someone who can analyze it. For example, you can work with a digital marketing agency team in New Delhi, which of course has experienced analysts in analyzing data for digital marketing.
What are Types of Marketing Measurement?
There are three types of marketing measurement, namely:
1. Business Matrix
The business matrix will provide an overview regarding important data analysis before doing digital marketing. Starting from the costs incurred, the amount of funds obtained, and how much ROI is generated. This business matrix will be used when your business gets income or profit.
2. Conversion Matrix
In the conversion matrix, you can find out how effective the ability to convert visitors into buyers is, so that they can produce closing sales. Therefore, it includes conversion rate, cost per conversion, and average spend. By looking at the conversion matrix, you can find out if the ongoing business is able to make people buy the products offered.
3. Marketing Matrix
The last matrix, which is the marketing matrix, shows something else that comes before conversion. For example, the number of impressions, visits, clickthrough rate, bounce rate, and so on. There is also this marketing matrix that will tell you, whether you can get and engage new potential audiences, then lead them to conversions or sales, or not.
Why is a marketing matrix needed? This is because some consumers will not immediately buy the product offered immediately after receiving the information or offer. Maybe they will consider it for a long time, before finally buying your product. So, using this matrix, you can find out which potential customers are.
How do you measure customer life cycle?
You need to know, important digital marketing data or the results of this analysis can track how your digital marketing strategy is going. To start marketing data analysis, the data points must match the schema that the consumer has been through. In other words, the measurements made must be aligned with the stages of the customer cycle being measured, namely:
- Reach new customers.
- Changing or influencing new customers.
- Maintain new customers so that they become potential customers.
- Change it back.
You want to only see positive ROI, although in the acquisition phase negative ROI is normal. However, you need to focus on the positive direction of change only. In short, has your list of data indicators shown growth, or has it stagnated?
What are indicators in data analysis?
How do you find indicators in the form of a list of the most important analytical data for your business so that it becomes data driven marketing? Look at the goals you want to achieve, namely:
- If you want to get consumers, there must be conversions or sales.
- To get conversions, you must have buyers.
- In order to have buyers, new visitors are needed. You should also understand that there are three types of visitors, namely: those who have gone through a long process of information gathering and persuasion. Then, there are also those who have decided to buy your product. Usually, these are repeat visitors returning to your site. Lastly, which is easy to convert from visitors to buyers.
- If you want to get new visitors, you need an audience.
Oversee Critical Analytics List for Digital Marketing
Next, keep an eye on the following list of important analytical data, to see if you are moving in the right direction when doing digital marketing or not:
Indicators for healthy conversions consist of page load speed, time on site, average number of pages visited, and conversion rate.
The number of visitors indicator depends on:
- Search performance indicators (DA-PA, domain level, visitors from search, and CTR on search results).
- Ads performance indicators (impressions, click-through rate, visitors from ads, and cost per click).
- Social content performance (reach, CTR, and visitors from social media).
- Email performance (open rates, click-through rates, and visitors from email).
Audience indicators include: size of contact database, volume of email subscribers owned, volume of RSS subscribers, and number of social network followers.
Conclusion
So, that's a list of important digital marketing data that must be monitored before and when doing digital marketing. Hope it is useful. If you want it easier to analyze it with an experienced team.