Part 2 (of 5) : Analytics can tell you what happened, why it happened, what will happen and how you can make it happen. It can consist of any goal that you’ve set for your business and when used properly will help you make your business more successful.
We’re going to talk about how to use tracking analytics to plan where your business is going.
When you use data to help you learn about your business, your competition, where you stand and where you want to go, you’ll truly end up with a better business than you ever thought possible. Today, data can be so predictive that it will almost give you directions on what to do next to boost your business and make it better.
– Stay ahead
As you look at the data you have, and you can see what happened and how it happened, you can take that information and repeat whatever worked so that you can get even better results. You can also use that same data to add complementary products and services or even change direction altogether.
You can use the thing you learn to stay ahead of trends in your industry as well. With evolving trends and fads, it’s important to understand how to collect and transform data from analytics into actionable steps because it will help you achieve key business objectives.
– Foresee challenges
Every business faces challenges and you can even predict some them by looking at data. For example, some businesses are seasonal in nature, even though in some cases there is no reason for them to be seasonal. But, if you check the data you might find that your business has times where you make more sales. You can use that information to pump up advertising during the off season.
– Understand your own audience
Analytics can help you get to know your audience even better. When you first start a business, you choose who you think your target audience should be. You set up all your marketing campaigns with that in mind. But, you might find through analytics that you have a far different audience than you thought. This can help you narrow down and optimize your marketing materials so that you can grow your business.
When it comes to growing and planning your business using predictive analytics can help you discover insights into what is working and what isn’t. Which will help make the right decisions for your business and accomplish your goals much faster.
– Understand your competition better
Another great thing you can do with analytics is understand your competition. By keeping an eye on them, you can actually learn what your audience wants and what they will be most likely to respond to and your business will be better for it.
This is especially true if they’ve been around longer and you know for a fact that they’re profitable and good at what they do. Then it’s even more important to learn all you can from them.
Here are some great tools you can use do that:
– Google Alerts – https://www.google.com/alerts
This is an excellent, free service. Sign in and choose keywords, names, and more to search for. Then, set up how often you want to receive the alerts in your email inbox. You can scan each email to find information about your competition that you can use in your own business.
– Social Mention – http://socialmention.com
Use this cloud-based search engine to search websites, blogs and more for mentions about your competition. Then you can go look at what they’re doing. Identify the gaps in their offerings and you can outshine your competition in no time.
– Website Grader – https://website.grader.com
While it does ask for your website and not your competition’s (and your email address), you can still use it to check the health of someone else’s website. The information you will receive is page size, page speed, redirects and more, including how many requests for the site have been made. It also tells you how they’re doing on SEO and more.
– Link-Assistant.com – http://www.link-assistant.com
With this downloadable software, you can study keywords of your competitor’s site so that you will know what keywords they’re using. You can then use them on your own website to nab their traffic.
– KeywordSpy – http://www.keywordspy.com
This software is an amazing way to profit from your competition’s hard work and research. You can find out what keywords they’re using, what they’re spending for AdWords, their ROI estimate, and much more.
– Open Site Explorer by MOZ – https://moz.com/researchtools/ose/
You can get a lot of information about your competition from this cloud-based option. Including about the links that come into the site and the anchor text used, and you can even compare five sites. What’s more, it’s free when you sign up.
Using these tools to discover analyze important data about your competition is a great way to grow your business and keep your audience happy at the same time.
That’s it for today’s lesson. In your next lesson, we will be talking about the data you collect to improve your website’s performance.
Until then, David Belton
This concludes part 2 of 5 lessons.
P.S. Again, I appreciate your joining me for this short ecourse. Remember, if you have
any questions please feel free to ask. I’m here to help!