How To Optimize Your Data Analytics to Better Understand Customers

Abby Riley
Abby Riley in Marketing

 

Written by Abby Riley

Fahrenheit Marketing sheds light on the significance of modern data analytics and lays marketing approaches that will optimize data analytics to gain more insight from your digital marketing campaign.

data analytics; data collection; customer analytics; customer data; digital marketing

No longer are marketers depending solely on traditional data such as age, income, location, gender, and demographics to develop campaigns. In this new marketing age, digital marketing steers us with customer analytics. This form of analytics outlines, in detail, the behavior and decision-making process of our customers through processing big data.

 

How It Works

 

By adding a small piece of javascript tracking code on each page of your website, you can collect data on the consumer’s journey to analyze whether it leads to a profitable end. This code will follow the visitor wherever he or she goes on the website and can be presented in easily understandable charts with meaningful statistics.

 

This crucial data identifies the potential and returning customers while attracting new ones. By transforming these gained statistics into insights, you will attain a greater understanding of your target audience when implementing a digital marketing strategy. This will increase your ROI (return on investment) of your campaign, and present you any needed adjustments for your budget, overall campaign message or target market.

 

Here’s how to optimize your data to guarantee the correct data analysis and usage:

 

1 | Identify Behavioral Patterns

 

Understanding patterns refer to recognizing the standard routine of your visitors while they explore your website. This information can tell you what they find attractive about your products, services, and web design, including what sections they avoid.

 

These figures are easily accessible with consumer/customer analytics platforms like Google Analytics, but it’s efficient for your time and budget to hire a content strategist. Marketing experts will explain what these behaviors mean and how to shift passive interest into valuable actions.

 

Listed below are the types of customer engagements data (Google Analytics):

 

  1. Page views: The number of views per page
  2. Unique Page Views: The number of views for one specific page
  3. Average Time on Page: The amount of time a user stays on a page
  4. Bounce Rate: The rate in how quickly visitors leave a page
  5. Percent Exit: Percentage of users who leave a page or number of pages

 

2 | Use The Right Customer Data Analytics Tools

 

There are a plethora of customer data analytics tools out in the world today that lead you to improved insights of your customers, but which ones will give you the most leverage over your competitors? Here are a few consumer and market research analytics tools that we would recommend:

 

  1. Answer The Public: Enter a keyword, and ATP will provide you the top questions, prepositions, and comparisons on popular search engines.
  2. Google Trends: A tool which analyzes the top search queries on Google Search.
  3. UberSuggest: Will generate keywords to optimize your marketing strategy
  4. Keyword.io: Collects highly relevant keywords to interpret and connect with your audience.
  5. Buzzsumo.com: Find the trending topics in your industry that consumers are talking about.     

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3 | Practice Predictive Analytics

 

Predictive analytics “is a form of advanced analytics” that applies “new and historical data” to predict consumer activity, behavior, and trends. This is the central incentive of compiling data: knowing the next step of new customers, repeat customers, and potential customers and lead them towards profitable conversions. By 2022, the predictive analytics market is expected to grow to 12.41 billion compared to 4.56 billion in 2017.

 

By applying data to forecast future actions rather than to record past behaviors, you can customize a path for each type of customer and direct them to a product they feel represents their needs, wants, and values.  Customer segmentation, the process of dividing customers into groups, is an important attribute in predictive analytics to understand the purchasing behavior of multiple customer personas.

 

Here are a few tips to consider when investing time in predictive analytics:

 

  • Observe your customers’ purchasing history or interactions to gather what types of products they find valuable in the company and how they engage with your brand. When this information is gathered, lead customers towards deals, products and services that you’ve predicted they will find interest in.

 

  • Collect characteristics of returning customers to compare with potential or new customers. Through this collection, you will understand the basic attributes of loyal customers, thus maneuver your marketing efforts towards targeting new customers’ who prove to show more loyalty traits than others.

 

  • Supervise the churn rate of customers, or customers who discontinue the subscription, product, or service in a given time period. In discovering the churn rate through data, a marketing team can create ways to increase retention and decrease spending efforts to consumers who are more willing to attrite.

 

Explore the best predictive analytics software, and the Fahrenheit content strategy team can help you apply the best software for your digital campaign.

 

4 | Use This Data to Personalize

 

Now that you’ve gathered customer information on purchasing patterns, loyalty characteristics, and attrition characteristics, it’s time to create content and design that personalizes the experience of each customer. It’s a frustrating experience to be shown brand content that has zero relevance to who you are, and brands have no excuse to push this type of content when there are many ways to personalize a customer’s experience: 

 

1 | Meeting Their Needs: Is your information, product, or service meeting the direct needs of your clients? Is it answering their questions?

2 | Solidify consumer personas: Do you recognize the multiple types of consumers that interact with your brand daily, and if so, are you considering them when creating content? 

3 | Make use of the differences in digital channels: Are you personalizing the experience of each platform you use? For example, is the consumer experience on a mobile device landing page unique compared to the desktop landing page?

 

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When it comes to digital marketing and web design and development, Fahrenheit Marketing is your one-stop-shop. We know what it takes to make your brand succeed, and we would love to share our expertise with you to expand your digital presence. Say hello to our team and let us assess your brand’s needs, and we’ll take care of the rest.