As a small business owner every decision you make has some sort of impact on your profit and loss doesn’t it? Sometimes however, when you simply look at the numbers you don’t get the whole story. For example, if someone clicks through on a Facebook advertisement you are running and then signs up to your email list, then due to your email list they purchase one of your products, ask yourself is that really how it happened? Or did they actually encounter your content some place, see multiple advertisements on Facebook in the past? Do they follow you on Twitter, did they attend a webinar or two and get to know you before they finally made their decision to purchase?
By looking at all aspects of your analytics you can often determine a lot about how everything you do works together. For example, the content you create is a good example of multi-channel marketing. You create content for email marketing, social media marketing, your blog, and even for free downloadable eBooks. Knowing which content is performing best, when and where, is part of performing multi-channel analytics.
If you were to look at the analytics of social marketing, you might at first determine that social media underperforms in terms of conversions. You may even think that you’re wasting your time on social media. But, without looking deeper you really don’t know what the role of social media is. It may be softening up your audience before they visit your website via a landing page and sign up for your email list.
Within Google Analytics you can set up multi-channel reporting, which will help you to look deeper into how your buyers actually chose to convert. For example, you will be able to see whether or not they clicked through due to organic search, an advertisement on social media, or an article you shared on your favourite social media network.
If you can afford it and I just wish I could, and you really want to unleash multi-channel analytics, then you need to upgrade your Google Analytics so that you can study your buying cycles for longer than a month. You don’t want to make the mistake of applying the 80/20 rule and eliminating a vital part of your marketing funnel without all the information.
The great thing about analytics is that it’s science. When you use science to help you make better decisions, you’ll do a lot better with all your goals. If you know how your customers use mobile, web, social media, email lists and more, you can design your marketing materials better for the consumer.
Getting data from a lot of different sources I know I use Google Analytics plus a whole heap of other tools which help me understand how everything works together, this will help you make better more informed business decisions. Knowing how your business is interacting with prospects and leads across all channels is an important aspect of taking your business to the next level so don’t ignore this information.