How to Conduct Effective Online Marketing Data Analysis

If you’re looking for some digital marketing stats to analyze, you came to the right place. In this article, we’re going to teach you how to conduct an online marketing data analysis and report to reach your goals.

The Need For Analysis

Marketing analytics tools aren’t a new development and have been around for long enough for marketers to know how valuable they can be. Online marketing data analysis provides valuable insights into the effectiveness of different campaigns and a whole host of other useful information that can help a business or brand grow.

The trouble is, not all data sources are created equal and being able to accurately analyze large amounts of marketing data can be a challenge. That’s why it’s so important to do your research before you start crunching any numbers.

Unfortunately, a lot of poorly designed marketing analytics tools and noobs who just want to grab some numbers and hit ‘publish’ can make things a lot more complicated than they need to be. That’s why it’s crucial that you take the time to plan out a detailed analysis and figure out what data you’ll need to pull your conclusions from.

Where To Start

It’s always a good idea to start with benchmarking. Knowing what to compare your data to is essential when trying to determine how effective your campaigns were. Without knowing exactly how much your campaign costed in terms of sales or leads generated, it’s hard to give your exact ROI (return on investment).

Benchmarking is also the key to accurately analyzing your data and avoiding any nasty surprises down the line. If you don’t have a clear benchmark, it’s easy for your analysis to be skewed towards successful campaigns and away from those that didn’t perform as well. You might end up with inaccurate or poor-quality results that could hurt your business rather than help it.

You should also look into the quality of the data source you’re utilizing. There are a lot of shady data sources out there that want to make a quick buck off of unsuspecting businesses. Make sure you’re getting the most accurate data possible by performing a little bit of research into their background.

The Importance Of A Clear Plan

So you’ve decided to put in the time and effort to analyze your data and come up with some concrete recommendations for improving your campaigns. That’s fantastic!

But before you dive into the juicy bits of analysis, you should really take the time to think everything through. Otherwise, you’re bound to make a mess of things and potentially end up with a ton of incorrect information. In this case, you might want to go back to the drawing board and start from scratch.

Instead of just diving in without a clear plan and hoping for the best, you can greatly increase the chances of a successful data analysis by taking the time to plan everything out. With a little bit of research, you should be able to come up with the exact set of benchmarks that will help you accurately analyze your data. And from there, you can decide what changes you need to make to improve your campaigns.

Doing a poor analysis is almost as bad as not doing one at all. The former simply leads to the latter, but with a bit more information and detail. Don’t be afraid to spend some time planning your data analysis so that you can get the most out of it. Otherwise, it might as well be like throwing darts at a paper target.

How To Properly Plan Your Analysis

To properly plan your data analysis, you need to ask yourself a series of questions. These should help you figure out exactly what you’re trying to achieve from the process. Keep in mind that the more you plan, the easier it will be to make your analysis as accurate as possible. So take the time to plan out your data analysis and you’ll be able to reap the benefits of a more in-depth analysis. Here are some of the questions you should ask yourself:

What Am I Trying To Achiev

The first step to properly planning your data analysis is to figure out exactly what you’re trying to achieve. What are you trying to improve upon? Is it lead generation? Click-throughs? Conversions?

This is important because it will dictate the kind of analysis you need to run. For example, if you’re looking to increase your conversions, you might want to run a benchmarking analysis comparing your current campaign to previous ones to see how much you’ve learned over time and whether or not you’ve reached your goal of increasing conversions. If so, you can decide whether or not to scrap your current campaign and try something new.

Who Am I Trying To Reach

Once you’ve established what you’re trying to achieve from the process and figured out how you’re going to measure your success, you can move on to the next step. Who are you trying to reach?

It’s crucial to remember that not everyone will benefit from your campaign. In fact, you probably know a lot of people who don’t need your product or service. So it’s important that you figure out who you’re trying to reach and set out to contact these people to see if they’re the right fit for your campaign. Ideally, you want to target the right audience and engage them enough to make them want your product or service. For example, if you’re trying to increase your sales, you might want to run a benchmarking analysis comparing your current campaign to previous ones to see how much you’ve learned over time and whether or not you’ve reached your goal of increasing sales. Think about the people you know who you think would benefit the most from your product and build a list of contacts. These people are your target audience and the information you’ll use to connect with them should reflect that.

How Am I Going To Measure My Success

Once you’ve established that you’re going to measure your success and set out to contact the people you’ve identified as your target audience, you need to decide how you’re going to measure your success. What will you use to determine if your efforts were effective?

There are a lot of different ways to measure success and what you deem as important measures will depend on the stage your business or brand is at currently. Before you get started with your analysis, sit down with your team and establish a series of goals that you and they can work towards. Then, you can decide which measures are the most important to you and your team members. Having a clear picture of what you’re trying to achieve will help you properly plan and analyze your data so that you can determine if you’re on the right track to reaching your goals.

How Much Time Do I Have To Plan

The less time you have to plan, the more likely it is that you’ll rush your analysis and make mistakes. It’s always preferable to take the time needed to plan out your data analysis rather than rush and hope for the best.

The ideal is to take at least a few days to plan out your data analysis. That gives you time to do a thorough job and ensure that everything is perfect before you start presenting your findings. However, the more time you can spend planning, the easier it will be to reach your goals. Don’t rush, take the time to plan and you’ll be able to greatly increase the chances of a successful data analysis.

The Biggest Challenge

One of the biggest challenges to conducting a proper data analysis is that a lot of the tools out there are incredibly complex and difficult to utilize without any prior knowledge.

A lot of the times, users simply opt for the least-complex option available, which turns out to be a real problem if you want to pull meaningful information out of your studies. In most cases, the simplest tools are also the least-customizable and least-secure, which some businesses may find problematic.

If you’re looking for a tool that provides you with some of the features you need without being overly complex, check out Google Sheets. The basic version is free and allows you to create a spreadsheet that can be accessed from anywhere at any time. This makes it incredibly easy to make quick, handy copies of your data for later analysis or comparison.

Although it’s not an ideal solution for every business, having a tool like Google Sheets built into your workflow can prove to be quite useful when it comes to analyzing marketing data.

Where To Go From Here

Once you’ve taken the time to plan out your data analysis, it’s important to follow up with action. Review the results of your analysis and see how well you did. Then, take the time to reflect on whether or not your efforts were successful and determine which changes you need to make going forward.