Are You Tracking the Elephant in the Room?
Analytics Tell the Truth
Tracking the outcomes of your company’s efforts is a huge task, almost as big as the elephant in the room. It is a problem that causes us discomfort whether because it is daunting, difficult, or not being taken care of. It is however something that we need to address if we ever want to move forward and grow our businesses. With simple steps, we can easily see what outcomes our efforts are producing, ask if they are sufficient, and optimize to make them better.
When you run a business, you are constantly making choices. You need to know what is working and what is not working in order to make sure your company stays in the green. With a system that allows you to track your company’s outcomes, you will be able to monitor what has been accomplished. This blog has plenty of information on ways to set up a tracking system for your company’s success.
You can’t fix something until you find it.
Everyone wants to know if their investments, hard work, and plans are going to work out. It’s important to know what it is you want to measure. Thus the first step to improving outcomes is determining what that outcome should be and what metrics you need to focus on. Every business would like to gain more profits. However what makes those profits changes depending on the business. Therefore, it is important to realize the steps a customer has to go through to create profit for your business. Define the customer journey and track every point of interaction. Defining each step in a customer’s journey allows you to make conversion of each step an outcome to improve. Improving 1% every day after a year will get you a 37% improvement.
Imagine your next year with 37 times more profit. That is the potential. The reality is usually it is a percentage of the amount you made previously. If you were making 50,000 last year, that would mean you would have 18,500 more this coming year. 100,000 would be 37,000 more and 1,000,000 would mean 370,000 more. What would you do if you made those numbers a reality? By making sure that you are sufficiently tracking each step and then pinpointing which steps could be improved you will be one step closer to achieving those numbers.
Having the tracking in place you can use A/B testing or Multivariate testing to see which pieces of content your users interact with and how. By watching your customer interactions with very specific changes you are able to pick and choose the “golden moments” that increase your conversion rate. Another trick we use at Zany to try to go past 1% improvement per day is Account-Based Marketing. Account-Based Marketing not only helps to increase the current customer journey it creates whole new pathways that customers can go on.
Timing, Content, and Tracking are everything.
As I mentioned before it’s important to know which metrics you need to track to improve outcomes. A business’s success can be measured by the results they are getting, however, it is also important to understand what metrics to track to avoid false information and build towards your goal.
Marketing has become increasingly more complex. The world is getting smaller and your customers are becoming more mobile and more time conscious. You need to be able to track the customer journey. You need to be able to measure and track your customer engagement. You need to be able to optimize for success. To achieve all this is very complex. It is one thing to hire an expert, it is another to hire a team of experts who do nothing else but increase ROI on digital assets. With Zany Marketing Dashports and Optimization Plans, you can track your customer’s journey. You can also optimize your business for success. Sign up for a free consultation today.