Agencies Should Monitor Analytics, Not Just Reporting Them
Analytics is critical for CIOs to make decisions about products, service offerings, and company direction.
The terms such as “big data” and “data-driven marketing” have become quite the norm these days. This could easily confuse any digital marketer about the way they should be measuring and what exactly needs to be measured. Company CEOs have started expecting more quantifiable and tangible metrics from their marketing departments or agencies they hire for their digital marketing bit. As a result of this increasing demand; tools, technologies and scores meant to assist marketers have started surfacing in the market in the past one year.
Knowledge of analytics is a very big area of opportunity in digital marketing. This would help the client of any agency to achieve their goals effectively and prove this effectiveness while working with these clients. One of the reasons companies hire digital marketing agency is for their expertise and insight which the marketers lack. However due to lack of knowledge or due to an inability to explain the data, many agencies are not able to do justice to this. They are simply reporting analytics to their clients instead of monitoring analytics.
Importance of Monitoring Analytics
A clear understanding of monitoring analytics lets marketers be more efficient at their jobs, thus by saving and minimizing the cost required for web marketing.
- Marketers can test various types of tactics against each other and helps them determine if they are assigning the budget appropriately.
- It provides clarity about the platforms and audiences that wouldn’t be so easily available without the analytics
- It lets marketers to demonstrate the effectiveness of marketing and particular campaigns to directors and business owners.
- Marketers can make swift and effective changes to their campaigns based on the results.
3 Benefits of Monitoring Analytics
- To prove effectiveness of your efforts
Companies are increasingly accepting the fact that digital marketing can help to bring in business and help towards the growth of their organization. Merely through data monitoring and evaluation one can prove how effective the marketing efforts are.
- Campaigns can be optimized through high performance
To identify patterns and determine what works well for your campaign, frequent evaluation of analytics is a vital element. Close scrutiny of analytics will help agencies determine if certain approaches are working better than others and how they can apply more effort towards the highest performing efforts.
- Helps create new opportunities with existing clients
By monitoring analytics on a regular basis, agencies can influence their knowledge of ongoing campaigns and utilize this information to look for areas of opportunities that can help the clients’ business grow which will in turn generate more business for the agency.
For instance, an agency is working towards increasing a client’s web traffic. As a marketing effort, the agency is publishing SEO campaign, publishing a specific number of blog posts every month, posting on Facebook, Twitter and running -some paid advertisement on Facebook. After few months of monitoring the web traffic the agency discovers that when they run a paid ad on Facebook which is promoting a recent blog post; that post receives 3 times the number of traffic as opposed to those that aren’t advertised. This finding can be shared with the client and the client would be more than glad to ask the agency to dive deeper and channelize the marketing effort which would only mean more business for the agency.
The area of analytics that an agency decides to monitor for a client should be chosen basis the marketing campaign that is being run and the goal of every client.
To inculcate the culture of analytics, educate your employees on the importance of analytics, not just that but also educate your clients on the importance of just looking at the data but also making changes basis the findings.
Effectively and continuously monitoring client’s analytics will help both the agency and the client business grow, and it will help establish the agency in this area of expertise. Clear results will solidify the relationship with their clients. Additionally, the agencies who have established themselves as being good in monitoring will be many steps ahead of those agencies who are still just reporting.