What exactly does digital mean to people? Few people consider it an engaging application, but others argue it’s a website. In reality, it’s a modular and advanced platform that encourages speed and agility. We are also here to offer an excellent digital analytics solution and transform customers’ analytics into insight and make effective decisions to transform their businesses.
In today’s world, it is essential to understand customers efficiently and use real-time analytics. Digital marketing data is increasing with time because of the massive use of social media and the internet. The Internet is the key to understanding customers’ preferences and offering what they want and how they feel about the company product.
To understand customers, it is vital to understand the data first. Digital analytics can help in building customer demographics. We offer strategic management and better insight to the client and make sure it improves their digital and marketing performance. Data analytics is a powerful platform that not only measures the online performance of your website but also attracts potential customers.
Where is Digital Analytics Used?
Ever wonder how Netflix or Amazon makes content or product recommendations? Their personalization engines leverage customer data and digital analytics to make the best recommendations.
And in the era of Big Data, it’s not just tech behemoths that can leverage customer data in this way. Most companies are now sitting on a gold mine of customer data just waiting to be analyzed. Customers are logging time with digital products every day, giving marketing and product managers direct insights into what’s working, what’s not, and what might work in the future.
Of the businesses surveyed recently by MicroStrategy, 94% identified analytics as vital to the growth and digital transformation. Despite this, only 30% of businesses maintain a clearly defined data strategy. Businesses who fully and meaningfully engage with their various data streams hold the advantage over competitors still stuck crafting analogue strategies.
Where Does Digital Analytics Data Come From?
● Website Data
Website data helps companies identify who is coming to their site and what they’re doing once they’re there. Evaluating this data helps determine which demographic groups are most attracted to certain products and features, or which acquisition channels prove the most effective.
Website data is also valuable as a means of tracking visitors as they hop from page to page. Tracking the user journey lets you measure everything from the efficacy of your blogs to the highest-performing pages for conversion.
● Product Data
Your customers are generating behavioural data within your product as you read this. The way they use your product contains key insights into its potential and limitations. Analysis of product data can reveal:
- Your most and least popular features
- Critical conversion events
- Points of friction that lead to churn
- Commonalities between customers with high lifetime value
- Digital analytics aims to remove the guesswork from product strategy, and product data leaves little room for ambiguity. It’s data from your existing customers trying to use your product as they intended. If they’re not, a careful look at their behaviour will help you specify the shortcomings of their user journey.
● Digital Marketing Data
The data from your digital marketing campaigns provide you with essential information concerning prospective customers
- Keyword data: An analysis of your keywords could reveal a surging trend in a previously untapped market. Your most and least successful PPC campaigns both contain valuable information concerning what interests would-be users have and what messaging best represents their interests.
- Social media: A reported 82% of Americans use at least one social media account. Not every single one of them follows you, but the ones that do interact with your content in meaningful ways. Your social media data reveals what content types, voice, and messaging promote the engagement of prospects and customers alike.
● Internal Customer Data
Studying your internal data also helps determine the lifetime length and value of user cohorts. Your analytics reveals trends in terms of when customers are likely to upgrade, downgrade, and churn.
A low-value cohort could be targeted with an incentive offer to improve engagement. Alternatively, marketing campaigns could be tweaked to target customers identified as inherently high value.
You could find useful data in all kinds of proprietary areas, including:
- Customer complaints
- Account details
- Transaction histories
The Benefits of Digital Analytics for Business
Before the adoption of digital analytics tools, product managers and marketers were often left to make decisions based on intuition or experience. The only data available to base product strategy on was past performance, a data set that offers a limited picture of customer preferences. If you wanted to know what customers thought about your product, you’d have to ask them directly through interviews, surveys, and focus groups.
Your customers are online now more than they’ve ever been, giving you more insight than ever before into their thought processes and behaviours. However, it isn’t until these disparate streams of information are brought together that their true value can be unlocked.
Unite Data From Multiple Sources
Uniting your analytics data under a single umbrella allows you to compile a customer profile that encapsulates the entire user journey. Your website data can show you what ad brought a customer into the fold and your product data reveals the events and actions that the same customer undertook to complete onboarding.
However, without a unified digital analytics platform, you’re left without the ability to link the marketing customer data to that same customer’s product data. Your ability to access the entire customer journey benefits your business in several ways.
Digital analytics helps you:
- Minimize Churn
Digital analytics enables you to align the expectations set forth for customers through your marketing and the actual performance of your product. If you promise a seamless music streaming experience but experience churn before the first song is downloaded, a look at your analytics will help pinpoint what stages in the process are causing friction.
A forward-thinking way of improving churn rates involves using your digital analytics to optimize your marketing campaign targeting. Your data will provide you with the demographic and behavioural makeup of your highest-value customers.
Once you know which customers spend the most and stay the longest, you should create marketing campaigns targeting those same demographics and behaviours to bring in the customers most likely to add long-term value to your product.
- Power Experimentation
Improvements aren’t always about fixing issues with your product—46% of businesses have used their digital analytics to find opportunities for new revenue streams and to create new features and strategies. An analysis of your data might reveal that your playlist-building feature achieves surprisingly heavy usage. Such a realization could serve as the basis for additional supporting features or even an entirely new product.
Experimentation also extends to product marketing. Perhaps you notice that customers building playlists are 10 times less likely to churn within their first year. You decide to blast out emails to customers not currently making playlists, highlighting and linking directly to the feature itself.
A digital analytics solution like Rhomeson allows you to A/B test multiple variations of a feature to quantify which version provides the best conversion rate.
- Increase Customer Value Through Personalization
Personalization has quickly become the marketing methodology of the future; 80% of customers are more likely to buy from brands leveraging personalized communications and offers. This preference directly translates to real revenue, with 80% of businesses reporting a sales lift derived from the use of personalized marketing content.
The right analytics platform can predict what customers want and need next based upon a combination of previous purchase history, profile, and behaviours.
Recommendations not only contribute to a personalized customer experience; they also provide excellent opportunities for upselling and cross-selling. Amazon now attributes 35% of total sales to its top-tier recommendation engine.
Our professional and highly experienced team assist the client in several ways few of them are mentioned below:
- Google Analytics:
Our team has skilled and experienced google analytics experts who can take your every need. From the implementation to the tracking phase, we make sure we offer the best services, and we check at every step and ensure analytics is on the right track. We design it as per the client’s needs.
- SEO and UX audit:
Business always has competitors that need a closer look. This task can be done easily with the help of SEO competitive analysis. We can help you to find out about the number of visitors on your and your competitor’s website, the competition’s Google AdWords budget, how your competitor ranks and generates revenue, competitors’ backlinks, the social media presence of competitors, and other unknown competitors.
- Digital Consulting:
Online marketing and presence are essential; thus, we make sure to keep track of everything. It is vital to follow a holistic approach and efficient strategy to plan the future and achieve goals. We help our clients in building an effective digital strategy to increase their online presence.