Making informed strategic business and marketing decisions require the right tools. Luckily, with the data technology readily available, key decisions can be made confidently and generate an impact for long term success.
According to Deloitte research conducted on executives in the US, UK, and Asia, 59% of respondents say they use analytics in some capacity, and 49% say that analytics help them to make better decisions, revealing the importance of tapping into consumer data. But not just any data will do, low-quality data can negatively impact many areas of a business’ performance, including wasted marketing or communication efforts and increased spending.
Good data on the other hand, can facilitate good decisions if it is captured, analyzed, communicated, and used in a timely manner. That’s why many companies are turning to Analytics tools as a strategic weapon to track customer behavior, build customer loyalty, and grow their business. The following are some of the leading Analytics tools on the market your business can start benefiting from.
Tracking your websites
Google Analytics offers a free tool to help you understand how users are engaging with your content and lets you check on the performance of your marketing, content, and products. It provides unique insights on consumer behavior and has machine learning capabilities, providing you with information such as which users are more likely to convert and which have a high revenue potential. Google Analytics offers an easy-to-use interface, shareable reports, and built-in technical support that’s ideal for small and large businesses.
For more advanced data, Google offers a paid tool: Google Analytics 360. With this tool, businesses can dive deeper and gain a more rounded understanding of the users’ interaction on their website. For example, Google Analytics 360 users will have access to advanced tools such as Unsampled Reports, Big Query Export, Data Driven Attribution and all standard Analytics features and reports. It also includes a service-level agreement that covers data collection, data freshness and reporting, a higher processing limit, and access to support specialists. Google Analytics 360 lets you access Display + Video 360 and Search Ad 360. Display + Video 360 which lets paid users view and analyze Display + Video 360 data such as reports showing the engagement and conversion metrics. Search Ad 360 provides paid users with information such as the Acquisition-Behavior-Conversion metrics.
Baidu Analytics, or commonly known in China as Baidu Tongji, provides free and paid tools for tracking and reporting traffic of users visiting your website. It’s similar to Google Analytics in its function to help you understand how people come to– and interact with your site but does not provide you with as many advanced reports as Google Analytics. However, there are some unique features offered by Baidu Analytics, such as the Comparison Insight Chart, which compares your site visitor data with the overall Internet user data; Baidu Heatmap, which lets you understand your visitors’ behavior by seeing exactly how they browse your website; and SEO Suggestion reports, with feedback on the length of your URLs, meta data, alt tags and etc.
The downsides to Baidu Analytics? The interface is only in Chinese, there are no custom reports or e-commerce tracking reports, and some important features are available but not free and require additional set-up. Despite all this, Baidu is the number one search engine in China, which means it’s better at providing more localized data and more accurate demographic data that can help you make more informed decisions in the China Market.
Known as one of the best commercial Analytics tools on the market, Adobe Analytics is a paid service providing advanced tools such as Customer Journey Analytics, which consolidates customer data across difference touchpoints; Adobe Sensei, which can recognize patterns and identify what information is most useful to help your business efficiently manage data; Launch, Adobe’s next-generation tag management solution, and etc.
Adobe Analytics is an enterprise platform that’s typically used by bigger firms such as HP and Microsoft. Its goal is to have an integrated workflow with optimization capabilities embedded in the creation tools to streamline the creation and delivery of relevant content and applications.
Tracking your social media channels
Facebook’s social network reaches 1.62 billion users every day, which means your business can gain quite a lot from a better understanding of how people interact with the content you post. Facebook Analytics helps you track and measure your results with two tools: Facebook Page Insights, which gives you detailed data on your Facebook page, such as tracking what works and how people interact with your content, and Facebook Audience Insight, which lets you better target ads and create more relevant content by better understanding your audience.
Amongst the many advanced features offers by Facebook Analytics, some key metrics measured include actions on page, page views, page previews, page likes, post reach, story reach, responsiveness, videos, page follows, and orders. This type of data helps you to better align your marketing strategy with actions, such as the most effective types of content for your specific audience and the best times to schedule your posts.
Twitter Analytics is a great tool to measure engagement so that you can learn how to make your tweets more successful. Every month, Twitter Analytics provides businesses with a report card with high-level stats and highlights your business’ top performing tweets so you know what worked and what didn’t. Metrics are updated every 24 hours but individual tweet information is updated in real-time so you can view the engagement on your tweets as it occurs. Twitter Analytics provides you with different dashboards to help you leverage insights: a Tweet Activity Dashboard to track tweets, a Video Activity Dashboard to track retention, view rate, and video completion rate, and a Campaign Dashboard to measure your ad campaigns.
Regardless of your company size, utilizing these tools can aid in multiple aspects of operations and maximize results in key business decisions. According to Deloitte, tapping into the data available can improve your operations, financial models, customer relationships, supply chain, workforce, business opportunities and competitive standing.
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