When measuring the effectiveness of your advertising campaigns, you will likely have a lot of inquiries.
How are your contacts trending month over month? Did the effort put into constructing the visual representations for that project on social media platforms pay off? And what about your email marketing efforts? How are those stacking up against your paid initiatives?
So many questions, so little time …
It’s not difficult for one to become overwhelmed by figuratively tall mountains of documents and numbers when searching for solutions, however, it does not have to remain that way. We’ve made it easy for you: we’ve crafted a compilation of the questions you usually ask in marketing and how to use analytics to come up with the answers you need.
How to Get the Answers to These 11 Common Marketing Questions Using Analytics
1) How many contacts were created from a specific campaign?
To monitor the effectiveness of your marketing strategy, you must begin by setting objectives for the number of visits, interactions, and customers desired. You may determine exact objectives for the yield of visits, contacts, and customers from various components of the campaign including social media, email marketing, and your blog. If you are looking for advice on creating objectives for your promotional strategy, our complimentary smart objectives template is a great resource.
Once the campaign has finished, measure how successful it was compared to what you originally set out to do. This will assist you in anticipating the results of future campaigns and evaluating whether your campaign was successful.
2) How many contacts is my blog generating?
Determining if you are making connections through the blog content you’ve created is essential. It is also important to pinpoint which types of content are resulting in successful topics, blog titles, structures, and advertisements.
3) What actions did specific contacts take on my site before becoming a customer?
As marketers, one of our tasks is to identify the course that our contacts take on their voyage toward becoming a purchaser. We are trying to identify any patterns that are present in this journey in order to reduce the amount of time it takes for someone to progress from a lead to a paying customer. We also want to determine the essential elements of information that a person must come across on our website before they make a purchase. By discovering precise details, we have the chance to be inventive in how we show the data earlier in the process of the customer-firm encounter.
To accomplish this, you must be able to monitor and comprehend the entire process a person goes through from the moment they arrive on your website until the time they’ve become a customer. It is essential to comprehend what emails they examined and responded to, what blog entries they read, and which pages they interacted with on your website.
4) What are my most popular blog posts?
To find out which of your posts have been the most successful, you must calculate which ones have attracted the most visitors. It is critical to be aware of this measurement since not every individual who visits a blog is going to become a customer after reading one article. Most companies find that they need to get a substantial amount of initial website visitors in order to begin to monitor and track conversions.
5) What website content is converting the most leads?
Not only do blog posts bring people to your website, but other kinds of content can lead to conversions as well. Your home page, “About Us,” product, and landing pages have a tremendous effect on getting people to commit to something on your website.
Figuring out which key pages to use is a crucial element in determining which pages to use when caring for your contacts. For instance, if you understand that a person investigates your item page prior to becoming a customer, you should guarantee they observe that page as quickly as could reasonably be expected in their client experience.
6) What marketing channels are generating the most contacts?
It is essential to keep track of the amount of contacts each separate segment — email, social media, paid promotion, organic searching, and directed traffic — creates when managing a marketing campaign.
This data is essential for determining in which areas your group should concentrate their energy. If spending a lot of time and putting in a lot of work on your email campaigns fails to generate the number of contacts you had hoped for, it might be time to reconsider your email plan or concentrate on an alternative approach that brings in more contacts.
7) What marketing channels have the highest contact-to-customer conversion rate?
Creating links through your ventures is essential, but verifying that those contacts are of superior quality is even more critical. That’s where the contact-to-customer conversion rate comes in. This figure will demonstrate what percentage of contacts become paying customers. Although it’s vital to generate leads, if they never turn into customers, you may be better off using your resources elsewhere.
If you analyze the data, we can see that email marketing has produced 5,187 leads while referrals have given us 2,227 contacts. Nevertheless, the rate at which contacts are converted into customers by email marketing is 0.1% compared to 0.8% for referrals. Despite the increased number of contacts acquired through email promotion, a greater percentage of conversions are coming from referrals. And that’s what matters.
8) How many contacts do I have in each persona?
Identifying your buyer personas is a crucial part of the process. By taking this course of action, you can figure out which form of promotion is the most effective for separate categories in your list of contacts so that you can deliver content to them that is pertinent to what they want and need.
Once you identify your customer profiles (and divide up your database depending on this data), you are then ready to alter your marketing approach. You will need to send diversified emails to various persona types and also use more precise lead nurturing tools depending on what is known about every segment.
It does not matter what type of marketing program you utilize, it is essential to see that each contact in your files has a feature related to them that shows which persona they fall into. It will be simpler for you to categorize this data in the future.
9) What exactly do you want to find out?
Examine the health of your business before taking any action. Come to a consensus across the whole company as to what Key Performance Indicators are most important for the business, and how they are currently progressing. Look into various KPI illustrations and contrast them to your own. Consider how you would like them to progress further. Can you influence this development? Identify where changes can be made. If there is no possibility of producing a different outcome, there is no use in examining data. If you realize a chance for growth for your business and think it will significantly enhance performance, investing in a KPI dashboard program could be a sound decision. It could watch your principal performance indicators, giving you a transparent view of your corporation’s info.
Evaluate what your aim is and what decision-making it will enable. What result from the examination would you consider to be a success? These example questions at the start of the data analysis process are essential to provide guidance and ensure that important information is emphasized. Brainstorming and producing a criterion for precise queries regarding the information that you’re looking for is an excellent way to begin. This system can assist you in exploring in greater detail the particular insights you are trying to obtain.
10) How can you ensure data quality?
Any analyses gleaned from an unsteady collection of data will not be accurate or beneficial. Previously it was stated that data can be obtained from multiple places and this could be beneficial or detrimental. Figuring out which data to include and from which sources it should be acquired is a key concern in the world of data analytics. Every individual or organization supplying the data may have their own incentive for doing so, so it is vital to ask these kinds of questions.
Keep in mind that the questions you ask when analyzing data should bring into focus how your company can make more money. If the information you have is not accurate, you will be perceiving a false version of reality.
Your next move should be to “sanitize” your datasets to get rid of incorrect or obsolete data. Now is an opportune moment to include additional categories in your data so that it can be more complete and beneficial. Determining whether that can be accomplished by a single person or require the work of a data scientist will depend on the size of the company.
A fascinating poll is provided by CrowdFlower, a company that specializes in data enrichment services for data analysts. They have found out that most data scientists spend:
- 60% of the time in organizing and cleaning data (!).
- 19% of the time is spent on collecting datasets.
- 9% of the time is spent mining the data to draw patterns.
- 3% of the time is spent on training the datasets.
- 4% of the time is spent refining the algorithms.
- 5% of the time is spent on other tasks.
Roughly three out of every five people find the data cleaning process to be the least enjoyable and unenjoyable undertaking. If you own a small company, you do not necessarily have to employ a data scientist, but it is essential that you tidy up your data and ensure it is of suitable quality.
This is exasperating, but then again, life is full of many things that are of utmost significance.
Once you have taken the effort to ensure your data is accurate, you can use it to create helpful assets that can be manipulated, combined, and assessed with analytical techniques.
11) Am I missing anything, and is my data meaningful enough?
Once you have initiated your data analysis initiatives and begun to observe improvements, it is necessary to take a look at all the generated reports and visualizations to determine if there is any incomplete information that needs to be addressed.
Gather with department heads and primary decision-makers to evaluate the worth of the KPIs, graphs, and data reports you have created. It is possible you have overlooked a certain operation or that using a different form would provide more knowledge or understanding of a specific set of facts.
Trying to monitor your return on investment (ROI) and how much progress you’re making in certain fields will make it much easier for you to have a broader idea of what’s going on, which may help you discover any analytical flaws or data that don’t appear as important as you thought.
For instance, if you keep track of how many sales goals your reps make and how each one does individually, you would have adequate data to modify the department for the better. By starting a discussion as a team and examining the development or functioning of your business, you could gain greater insight into the situation if you include things like how much each customer is worth to you in their entire lifetime and the price of getting new customers.
Examining the broader scope is an essential component of ongoing data examination that many people who make decisions forget to look at, which would give them an advantage over other rivals.
13) How can I keep improving my analysis strategy?
When discussing analytics in the business world, it’s important to think about how you can continually make improvements to your reports, operations, or charts to stay up to date with the changing environment.
No matter what industry you are in, the digital world is in a constant state of flux. What works today may become obsolete tomorrow. It is extremely important to decide how you can progressively improve your reporting activities when it comes to deciding which inquiries to ask for an evaluation.
If you have reflected upon question 11 regarding whether anything has been overlooked and if your data is profound enough, you have developed a structure to locate where your data study may be insufficient or defective. In order to further progress, it is suggested to delve into all of your KPIs and diagrams from various departments and consider making changes in certain objectives, adjusting your alarms, or adjusting your visuals so that you can get information that applies to the existing circumstances.
You could come to the conclusion that your warehouse KPI dashboard ought to be altered to obtain a greater level of insight into the number of shipments that have been dispatched promptly, given the current rise in consumer orders or increase in operations.
There are numerous factors that necessitate adjusting or revising your analytical processes or reports. Utilizing the appropriate business intelligence software and inquiring about suitable inquiries for studying data will ensure that you are successful again and again.
Start Your Analysis Today!
Using the given data, you can design queries that will assist you in forming critical company rulings and then create your setup (and attitude) to reply to them regularly by means of accurate analytic intelligence. These questions and answers are beneficial when reviewing a data set, but if you employ them as part of a broader data strategy, then you can create an efficient and thorough plan. If you base your decisions on numbers, you are likely to experience advantages in the future and become a person or business that is data-oriented.
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