Analytics: Online Marketing’s Necessary Evil

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“Analytics”- is there a more terrifying, soulless word?

Trawling through statistics may not be everyone’s cup of tea but it is essential for a successful online marketing plan. Businesses who fail to analyse their audiences miss the opportunity to better understand their customers and the market strategies that may or may not be working. Such inefficiency can result in great loss in resources as businesses are essentially ‘cold-calling’ potential customers.

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Failing to recognise appropriate demographics and strategy performance  can result in ineffective, expensive marketing attempts.

The statistics and techniques that assist in measuring the of efficiency and effectiveness of online marketing strategies are called “metrics“.  Seemingly mundane data such as pages per visit,  visits per visitor, top pages and and the referring URL can be an invaluable resource for online businesses. With this information businesses can easily identify why customers have visited their site, what content they have looked at, the customer’s satisfaction with the site/ contents and the revenue gained by these customers. Businesses can analyse these metrics and determine whether goals have been met and take corrective action if strategies aren’t working. This enables businesses to more accurately streamline their content, marketing strategies and service to greater appeal to potential and current customers.

Sites such as YouTube and Google Analytics can help marketers track metrics and assist brands to better engage with customers.

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BlendTec’s YouTube page statistics can help them identify what viewers prefer watching-     Is blending the latest technology more popular than blending glowsticks?

So what can these statistics show you?

Metric: What it indicates:
Pages per visit (PPV) PPV provides a fairly accurate indicator of customer’s engagement with the site. Calculated by number of page views/ number of visitors. Higher PPV indicates that customer’s enjoy and are interested in the content available.
Visits per visitor (VPV) VPV indicates the number of times a customer will return to a site. Calculated by the number of visits/ number of visitors to the site. VPV may help marketers identify the type of relationship certain customers have with the site.
Top pages Marketers that are aware of what pages are most popular can tailor future content to align with these subjects.
Entry and exit pages Enables marketers to identify the pages in which users entered the site and the pages in which users left the site. Marketers can utilise this data by continuing to generate content similar to the entry pages and work to improve the exit pages.
Referring URL Assists in identifying the sites that linked the business’s site to users. Marketers can therefore identify the sites that attract customers and direct more resources to the sites that generate greater returns.

 

 

Can modern day marketers get by without analysing data about their audiences?  Leave a comment!

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2 Comments

  1. I like the way you used memes to keep this post interesting (: I agree on the point you made that ” Businesses who fail to analyse their audiences miss the opportunity to better understand their customers and the market strategies that may or may not be working.” I feel that business should pay more attention to analytics as the information collected can allow the company to use it and create opportunities to attract even more potential customers. This is definitely one of the reasons also why modern marketers will not get by without analysing data. From this data it can understand their customers better. However i feel that the company must first have an overall plan before knowing what analytics will be beneficial to them. Also, i would suggest using some examples of failures (companies that failed to analyse) to give people a more realistic understanding on how certain companies fail due to weak analysis of their customers. Just a suggestion! (:

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  2. I love the succinct table in which you outlined some of the metrics. I completely agree that without properly analysing them, businesses may fail to understand what they are doing correctly and what needs improvement in regards to their marketing strategies. Victoria also mentioned a nice point, that you need to understand which metrics are beneficial to measure, in terms of measuring the success of a strategy. For example, I think if you were trying to measure whether or not your website content was generating high engagement, pages per visit may be one of the metrics you could use. It would be interesting to view the metrics of the “companies that failed to analyse”, and if their problems could have been avoided.

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