Analytics (Page 5)

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Data can be very powerful. If you can actually understand what it’s telling you, that is.

It’s not easy to get clear takeaways by looking at a slew of numbers and stats. You’ve got to have the data presented in a logical, easy-to-understand way.

Enter data visualization. The human brain processes visual information better than it processes text — so using charts, graphs, and design elements, data visualization can help you explain trends and stats much more easily.

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Most marketers are concerned about building a strong relationship with their sales team. After all, the marketing team is supposed to generate leads and assist the sales team in closing deals for the company. To make all of that happen, these teams need to have a good relationship.

But any marketer can tell you that there can be tension between the marketing and sales teams. It could happen for many reasons — the leads number could be down, the quality of leads could be down, or there could simply be clashing team priorities (among other things).

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Sometimes, Excel seems too good to be true. All I have to do is enter a formula, and pretty much anything I’d ever need to do manually can be done automatically. Need to merge two sheets with similar data? Excel can do it. Need to do simple math? Excel can do it. Need to combine information in multiple cells? Excel can do it.

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Every marketer needs data. You need data to show your boss the value of your work. You need data to determine if a campaign is running smoothly. You need data to make decisions about what you should continue working on — and what you shouldn’t.

But that doesn’t mean every data point you can get your hands on is important to track. With only so much time in the day to measure your marketing performance, what pieces of data should you actually be monitoring? What are some of the vanity metrics that you don’t really need to track?

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In life, many people believe that more = better. More traffic, visitors, and customers? Yep, that’s better. More time in your day to do the things you love? That’s better. More collaboration between Sales and Marketing? That’s definitely better.

But in many areas of marketing, more doesn’t always mean better.

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One of our main jobs as marketers is to acquire new customers. To start acquiring them, we need to get our company name out there. Or as marketers would say, “build brand awareness.”

The tough thing about brand awareness is that it historically has been a lofty, fluffy goal that many executives don’t value … but it’s actually a crucial component of the buyer’s journey. 

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We all want to crush our goals month in and month out. Right?

But just because we want to crush our goals doesn’t mean it always happens. We’ve all had a time in our career when we didn’t achieve our company’s goals.

It happens more often than you’d think. In a recent study, we found that only 23% of people were exceeding their revenue goals.

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There are lots of metrics you can track on a regular basis. You can check your visits, leads, and customers from all of your marketing activities. You can check how much revenue you are generating. You can look to see how your calls-to-action are performing. You can see if you’re getting any inbound links to your site. And that’s just the tip of the iceberg — the to-do list can really go on and on.

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Truthfully, there are tons of metrics that you can report on. You’ve got reports on the number of Twitter followers, the number of Facebook Likes, the number of visits to your website, the number of conversions, the number of leads from different campaigns or channels — just to name a few. The world is your oyster.

But that’s exactly what makes it so hard to get started — there are so many reports you can run that it’s not easy to identify the ones that are actually helpful, run them, and then act on them.

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It’s the timeless question for corporate bloggers: How many leads did your blog post generate? It’s much easier to see top-line metrics like how many visits each blog post gets, but measuring the impact further down the funnel is essential to growing your blog — and your business.

But even more important than knowing the number of blog leads you have generated is being able to analyze those results and create an actionable plan for the future. 

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Analytics can be a huge opportunity for both the growth of your business and of your career. According to a recent CMO Survey, CMOs report they spend 8% of their marketing budgets on marketing analytics, and spending on marketing analytics is expected to increase 60% by 2015. With bigger budgets for marketing analytics come bigger and more notable opportunities for people that know how to use them.

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  When it launched last year, Twitter Analytics marked a solid (if long overdue) move towards greater transparency and measurement abilities for users. And since then, Twitter has continued to make upgrades to the tool, most recently by adding analytics access in its mobile app. Though users now have more insight into their Twitter accountContinue Reading

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content_roi-1There’s no doubt that content marketing can boost your brand awareness and improve public sentiment towards your company and its product offerings. But for you to really make an impact on your business, you need to know whether you’re getting a good bang for your marketing buck — and that means you need to figure out how much you’re affecting the business’ bottom line.

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