Tips for Growing Business: Using Business Analytic Tools
Today, thousands of businesses across the world have an online presence and a plethora of digital tools that support business growth. Using social media channels, small businesses are able to market their products and services, communicate with prospects and customers and most importantly, utilize online marketing tools to increase their customer base and accelerate business growth.
There is no doubt that online marketing provides a myriad of benefits for small businesses. However, an important tool that online marketing equips small businesses with is business analytic tools. Business analytic tools are very vital for your small business as they help businesses track and monitor their online marketing efforts using real data.
The primary purpose of business analytic tools is to help small businesses with an online presence monitor their website activities and performance of marketing efforts across social media platforms e.g Facebook, Instagram, Twitter etc. It is no news that many businesses have a website and multiple social media accounts where they promote their goods and services.
There are many business analytic tools (e.g Google Analytics, Hubspot, Facebook business suite etc.) utilized by businesses across the globe today and through these tools small businesses are able to enhance marketing efforts, increase conversion rates and refine their products and services.
Benefits of using analytic tools for your small business.
There are many advantages of using business analytic tools for your business. Few of these advantages include;
1). Improved marketing efforts: Many online businesses advertise their products and services through multiple social media platforms and unlike traditional channels of marketing, online marketing tools enable small businesses to see real details of how customers interact with their brand. Through business analytic tools, small businesses are able to obtain data through which they can measure the effectiveness of their online marketing efforts. Business analytic tools like Google Analytics provide small businesses with real data that enables them to determine which campaigns drove the most traffic on their website, what people are saying about their website, which keyword searches resulted in a visit etc. Using data obtained from business analytic tools, businesses are able to make informed marketing decisions that yield great marketing results.
2). Better customer experience: An important duty for every business, whether small or big, is to create a seamless user experience for visitors and customers who visit their website. It plays a vital role in providing great customer service. Using business analytic tools, small businesses are able to track and address the unspoken grievances of their Web visitors and customers. As a small business owner, you are able to track and understand customers’ journey on your website because business analytic tools reveal key details of your website visitors and customers. Demographics, Average time spent, bounce rates, location of your site visitors are a few of the information provided by business analytic tools. Small businesses are able to make data driven decisions that enhance user experience on their website through business analytics.
3). Improved decision making: A major advantage of using business analytic tools for your small business is that it helps small businesses make informed and data-driven decisions. Most social media channels provide businesses with free analytic data that helps them determine what online marketing strategy works best for the business. For businesses who market their product and service on various online channels, business analytic tools provide useful information like which of your online channels your customers interact with the most, which marketing channels are worth investing more in or the section of your website your visitors interact with the most. Using data derived from business analytics, businesses can make necessary changes to improve areas of their website that need improvement.
4). Know your site visitors: Businesses who make an effort to know their site visitors end up providing excellent user experience. The great thing about using business analytic tools for your business is that it provides useful information that helps you discover who is interested in your offerings and purchasing your product. Business analytic tools reveal useful information like Average time visitors spend on your website, What devices site visitors are using to visit your site, location of visitors etc. Through this information, you are able to piece together useful details that help you understand and know the people visiting your site.
5). Track Bounce Rate: The bounce rate of your website basically means the percentage of visitors who visit your site and leave without converting or interacting with your website. If your website has a high bounce rate, it could be due to reasons such as speed issues, poor user experience and a bunch of other reasons. Having a high bounce rate can be detrimental to business growth and can harm your finances if it persists for a long time and that is why it is important for businesses to be familiar with business analytic tools because they can provide various insights as to why visitors are leaving your site without converting.
Business analytic tools are a great way to keep track of the effectiveness of your online marketing efforts. These tools provide data that helps small businesses make better decisions that can accelerate business growth.
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