Small Business Analytics
There are two specific issues with analytics as they apply to small business decision-making:
- There are so many analytical tools at your disposal, and you don’t know which ones to trust, and which ones to ignore.
- They work, and they help businesses to succeed, so you need to employ them.
With those two opposite-view points to consider, let’s look at the importance of analytics for small business owners, and how to make the most of the data received and the cost of acquiring that data.
Cost vs Value
How many times, in the creation and maintenance of your business, have you wrestled with the “cost vs. value” conundrum?
There is a cost involved in analytics, and you want to spend your available funds wisely. That is why this is an instance where a consultation with a marketing expert like CSD Marketing is a smart move. We can tell you which analytic tools provide the most valuable and useful information, and which are most cost-effective. Adding our knowledge to the data you receive from the analytical tool will propel your business in the most cost-efficient manner.
With that in mind, let’s move on to…
The Analytics We Suggest
There may be an analytical tool that works best for your firm specifically. It may be one that addresses the exact business that you are in, which is good. There is nothing less valuable than an analysis that does not seem to speak directly to the needs of your firm.
But there are two types of analytics we believe any small business can benefit from.
A/B Testing: A/B Testing is relatively easy, and it eliminates numerous decisions from the crowded minds of business owners. A/B Testing is simply offering a test audience two choices in terms of introductory web pages, web page tool bars, product offering pages, landing pages, contact pages, and any other page you want to create for your website. Consider it a sort of eye examination test: Which page looks better to you, A or B? Which page is easier to navigate, A or B?
Someone is designing (or has designed) your web page, and hopefully have offered you options in terms of visual appeal and usability. But it is vital to determine how the pages will appeal to your consumer audience. What looks good to you as the service or product provider may not be as attractive to the person who is looking to purchase your product or service.
You need that second opinion from an outside source.
Ads Testing: See above, but add some letters.
Ads testing is finding out how effective your ad campaigns are before you send them out to the public as a whole. You want to test out ad designs the same way you tested web page designs, and often for the same purpose. Ads need to provide all of the vital information a customer is going to want in order to proceed to the website for more information. They need to catch the eye. But, ads can be effective in many different ways, and you will be well served to know which ads are creating the most consumer interest.
Unlike the A/B testing, Ads Testing sometimes works best when you give your test audience multiple choices. Sometimes, the choices can offer slight variances in shading, positioning of information, fonts and the like. Sometimes, the choices can be radically different, which is a good idea if you feel your ad campaigns are not providing sufficient response, and you want to wake up your audience.
What Else Should We Consider?
There are other forms of analytics small businesses can make use of.
- You can do an analysis of your social media posts and usage.
- You can conduct an analysis of your website page clicks, likes, and link usage.
- You can determine which step in the purchase process is the one that causes customers to drop off.
- You can analyze your return customer rate to determine what brings them back as well as determine what prevents a customer from coming back.
Going back to the cost vs. value question, each of these types of analyses have a cost attached to them. There are companies that provide these services, and CSD Marketing knows the ones that offer the biggest bang for your buck.
Again, you will save yourself both time and money if you ask around about the best analytic services rather than try to do the shopping yourself.
We live in a world where data is everywhere. It’s a morass of information. As valuable metaphors go, the suggestion that you can get “lost in the weeds” is the most true. You need to do proper analysis of your website, social media and customer retention efforts. But you need to ensure that you are receiving valuable information in return.
In today’s digital age, data-driven decisions can be a game-changer for businesses. The CSD Connect business app stands out by offering robust and insightful analytics tailored to streamline and optimize your business operations.
From tracking website performance and user engagement metrics to understanding social media interactions and email campaign effectiveness, the app provides a comprehensive overview of your digital footprint. The real-time feedback and granular data points enable businesses to quickly identify areas of improvement, measure the success of marketing initiatives, and refine strategies to better engage with their target audience.
With CSD Connect, businesses are not just equipped with tools but also with valuable insights, paving the way for informed decisions and enhanced growth.
Ready to elevate your business insights?
Ready to elevate your business insights? Try the CSD Connect app
for free today and witness the transformative power of actionable analytics firsthand.
Try the CSD Connect app for free today and witness the transformative power of actionable analytics firsthand.