How to Grow Your Business by Using Data Collection
Have you ever ran a Facebook ad without being quite sure of what it is you should be expecting? Well it happens to more people than you’d think. These types of ads whether on Facebook or somewhere else need to have a specific goal in mind. In order to know if you have reached that goal or not, you need to know how to look at your data and how to measure your data to begin with.
This may have been something hard to do before, but digital technology has put the information at your fingertips. With digital marketing you can track your customer throughout the customer journey.
Tools for Data Collection
There are a variety of tools that are available for data collection. These tools differ between the three different forms of media: owned, paid and earned. For a refresher check out our previous article on the topic.
Owned media is primarily composed of your company website. You can easily track all your customers’ interactions from the moment they enter your site to the moment they leave. You can find out things like how long they stayed on each page, where they went next, and at which page they leave your site. Knowing this information will help you realign your marketing goals. If your customers are leaving at the homepage, then you’d know that there is something there that could be driving them away.
One of the most common ways of tracking your data is by using Google Analytics. Google analytics is a free tool that allows you to install a code on your website that will track every page.
You can track customer behavior from one page to the next; you can even track the visitor demographics. You can use this data to gain a better understanding of how your business is doing online and where your traffic is coming from. For example let’s say you created this amazing post on Instagram, and now you’ve noticed an increase in traffic to your website coming from Instagram; you will then know that you need to create similar posts.
Paid media is what it sounds like. It is the spots on digital media that you pay for. These are things like PPC or Facebook/Instagram ads, and the likes. Just like tracking on your website, you’d want to know if you are achieving goals here as well.
Typically, these sites will have their own analytics metrics that you can use to track what is happening; however, it would be of additional value to integrate the analytics into something like Google Analytics. This integration will allow you to compare any discrepancies and handle them appropriately.
You can do so by adding a pixel on the conversion page. A pixel is code that is added to a page that can track the movement between a site like Facebook and your site.
Earned media is what people say about you. It is referred to as earned media because companies are not entitled to customer attention, they have to earn it. This type of media is a little hard to track; however, there are few ways that will help you through the process. You can begin tracking earned media through the interactions you receive on your social media. Are people interacting with your content? If so, how often and with which type of content do you get the most interactions? Are customers leaving reviews? What do these reviews say about business? How do you deal with negative reviews.
Although these may not seem like quantifiable data, they still play an important role in identifying the health of your company. Make sure to key records of these things, so that you can create more engaging posts in the case of social media, and you can create a greater customer experience in the case of the product or service.
Overall, data is extremely important and should be looked at carefully. We hope you found this article insightful, let us know how you collect your data!