There’s no doubt that you’ve got an abundance of business data at your fingertips. But are you left wondering if you’re using it effectively? How can you best analyze the resources available to you to boost sales and increase performance? As DSG serves a large variety of clients across dozens of industries, we know that there is no single answer for the proper way to deal with analytics. However, one thing remains true across all industries: analytics can give you insights into which means of marketing are most effective in driving results.
Strategies
Before delving into mountains of data its necessary to develop a plan. Be strategic in your data analysis; don’t try to analyze all of it at once as this will only lead to confusion, or what marketing professionals call “analysis paralysis”. Plot out what information you are looking to obtain, and which metrics can get you there. Additionally, plan for what you will do to solve any issues that the data may present. Focus in on the metrics that are most relevant to your search and be prepared to evaluate how the data correlates to your business practices.
When it comes time to assess the selected data, be objective. Failure to remain unbiased could cause errors and skewed results. Evaluate the data from all perspectives to better grasp causes, effects, and changes. Finally, analyze a variety of combinations of data to avoid confusing correlation with causation.
What to Look For
A sales analysis report bundles a lot of important information in one place and tells you the current standpoint of your business’ sales. This allows you to keep track of the overall success of your business and may show trends in sales which can be tracked back to specific marketing campaigns.
There are many free reporting tools available to businesses that don’t utilize paid tools or outsourced marketing. Google Analytics is one of the most in-depth tools that can provide insights on your website’s performance at no cost. Additional platforms that offer free reporting specific to their platform include Facebook, LinkedIn, Pinterest, and more all of which give valuable insights into your audiences.
If you have room in your budget, an investment in data analysis can be a game changer. DSG offers a variety of data solutions for clients of all kinds. In fact, we have a comprehensive reporting tool, that will assist with all of the elements mentioned above. To learn more about what DSG can offer your business, visit our website, or please call us directly: 610-640-1454
We hope you’re feeling more prepared to face data analysis for your business. Don’t forget to periodically check back in on your reports to track the progress of changes you’ve implemented to your marketing campaigns. A good analyst is persistent!
