Data analytics is a powerful tool that makes headlines almost every day. Its benefits cannot be overstated as it continues to transform businesses and the way we view information. Most businesses already produce huge quantities of data, but using its results in these creative ways can make your business a better brand.
Results from your analytics tool might show you trends related to age, ethnicity and locations among other things. Consider using these data points to determine who your actual audience is, and how well you’re targeting them. While you may already be doing this, it is particularly important to use this data as a reference point to compare what people belonging to these groups are interacting with online. This means not just mapping out who your target audience is, but also what they’re clicking on when they’re not engaging with your brand. You can use these insights to deliver tailored content to the appropriate market. Customisation is key to marketing.
Most businesses struggle with a huge volume of information pouring in from their analytics tools. Go beyond looking at the demographics of your target audience, and start asking insightful questions to spot hidden stories within your data. Your record of sales and revenue might be the most important data resource you have. By feeding this data through your analytics software, you might begin to notice that some vendors offer more value than others, or that some product processes perform poorly. This is an efficient way to use the data your business generates every day, to improve daily operations.
Social media analytics
Using data analytics tools to generate reports on how popular your business is online, is a crucial part of data analytics. Understanding when your accounts have the highest interactions, and what content receives the most attention can be excellent insights into your customer’s brand perceptions. If your business does not have a social media presence, a quick way to find out if your business will benefit from social media marketing is to study your competition’s data. Consider using tools like Google Trends to study the popularity of your competitors, and run their social media accounts through analytics tools. You may find that your competitors’ social media presence is giving them the competitive advantage that you’re looking for.