Analytics

To grow your business, know the difference between web analytics and marketing analytics

When we started working on Benne Analytics, our first and foremost focus was on growth. How do we make a tool that enables businesses into growing better, and faster. And how do we do it without the business owners requiring an insane marketing expertise. Our product does that, and as it continues evolving, it will keep on doing that more and more.

Why?

Because data is meaningless unless applied in the context of growth. I have said it many times before and I’ll continue saying it. It is one of the fundamental ideologies you need to have ingrained if you are to try using your analytics data to power the growth for your business. With the right approach your data can be an accelerant for your growth, and without it, it will continue to remain just a source for some dashboards you look at every morning.

Once you start identifying what it is your analytics data is telling you, you can leverage that understanding into formulating clean and clear measurable outcomes as set by the parameters of your business objectives. Oh, and lets not forget about improving your bottom line.

Analytics is more than your pageviews and bounce rates

Do a search on any term around web analytics. You’ll find yourself face-to-face with countless results around your web-traffic metrics. Traffic, bounce rate, unique visitors etc. As you know, we followed a different approach altogether.

We did not want to become a product that just showed you a snapshot of what your daily traffic looks like.

Neither did we want to become a bloated tool that contained a lot of meaningful information, but was so complex to use and navigate that it would rarely be used what we made it for, essentially making it unfit for our objective of driving growth for our customers.

This balance between keeping it simple, and keeping it insightful is what we have worked upon.

Just look at our performance monitoring system, for example. We could have included one more section in our dashboard to display the page load times, network load times etc for your website in general, or your most popular pages. It would have been just one section.

​​ performance monitoring dashboard

We chose not to do it.

Why? Because we understand that this information is meaningful only at times when there is an outage, or when the website’s performance is showing anomalous behavior. So, we decided to focus on that outage instead of cluttering up your dashboard. If you fire up your Benne Analytics dashboard right now, you would not find any performance monitoring chart. Yet, any time there is a spike or any behavior out of the ordinary, you will find a mail in your inbox alerting you of the issue, giving you a general idea of what could be causing the issue - so that you can fix it.

That has been our approach throughout. Instead of just throwing data back at you, we try to identify the different scenarios in which that data can be meaningful and valuable to you, and then we design the best way to deliver that value to you, not just the data.

Web analytics focuses on traffic, marketing analytics focuses on growth

Web analytics is valuable. After all, it provides you a treasure trove of information into how your website is faring with its audience. But as we have just seen with performance monitoring, data alone isn’t everything.

Marketing analytics looks at every single data point your website generates, and it tries to break it down into buckets and categories to identify the different reasons and driving forces behind your traffic. It aims at getting a better sense of the performance, targeting and effectiveness of your marketing campaigns, your conversion rates, your buyer’s journey. All in all, marketing analytics provides you with a better and more comprehensive view into what’s working and what isn’t when it comes to your marketing strategies.

Marketing analytics focuses on your growth.

With our Insights module, we decided to take it a step further. We don’t just tell you if your marketing is working or not, we also guide you in the right direction as to how and where you can improve upon your marketing. With every improvement, you will see your traffic and conversion rates go up, your churn rate go down. Win win. Everywhere, and for everyone.

So, by now, I think we have identified the one word that differentiates web analytics from marketing analytics.

Focus.

And that makes all the difference. Web analytics would provide you information, marketing analytics will bring you contextual insights into factors influencing and/or critical for your growth.

Marketing analytics helps connect different facets of your marketing

A careful scrutiny of your analytics will help you how each of your marketing initiatives stack up against one another. It will also help you realise the ROI of individual activities and channels and their contribution to the broader business goals.

You can identify deficiencies in specific marketing channels, and make tweaks, adjustments and refinements to your overall strategy, approach and tactics to improve the performance of individual activity, or your overall marketing.

In the absence of a growth focused analysis, you can spend hours slicing and dicing data in your web analytics tools, comparing new visitors vs repeat, traffic from one country to the next, and yet when you analyze the results, you will find yourself to have come up short on having a truly deep and comprehensive view of your marketing performance, and any insights on how to improve it.

The right approach helps you not just identify the winning horses to back, and improve overall performance and efficacies, it would also help you unearth new opportunities to reach and engage your target audience. It would help you identify new areas and segments to expand into.

Can you do it with your existing web analytics tools?

Yes.

It will be a lot of work, and it will also depend on the capabilities of your current analytics tool, but yes you can. (For example, Google Analytics provides a comprehensive set of data and metrics that you can use to do the analysis yourself. But, as I said, it would be a lot of work every time you do it, so better roll up your sleeves.)

The first step into using your web analytics data to formulate marketing analytics insights would be to formulate a well defined strategy. You can structure your business goals into outcomes and then categorise outcomes for individual business goals into different categories:

  1. Data that helps you map the relationship between different marketing channels
  2. Data that helps you map the buyer’s journey (right from the very beginning, i.e. awareness stage)
  3. Data that helps you attribute revenue and other results to the right marketing channels and activities

Take the example of a new article on your blog. You wrote the article, tweeted about it, sent it in a newsletter. Now, there are a few ways in which traffic would be coming to this article. Via that tweet, via engagements of that tweet (likes, retweets), via that email you sent across, via other blog posts this new article has been inserted in as hyperlinks, via search results - just to name a few.

If you are looking at just basic web analytics, the best that you would know is how this article is performing as compared to others. But, of all the sources we mentioned above, are there any that stand out? Assuming the goal of the blog post is to get users to subscribe (or, say start a trial of your product), is there any source in particular that fared better in achieving that goal as compared to the rest? Is there a source that performed particularly poorly?

It may seem like an overkill. Looking at all that data. But it’s really not. Just think about it from this perspective. Let us assume that Twitter was particularly effective at achieving this goal as compared to others. You can use this insight to come up with ten different Tweets about the same article. You can promote these tweets to reach a wider audience. You can retweet these tweets after a few days to keep them fresh and reach newer users. There is a ton of things that you can do. But you can do any of that only after you have identified what you need to do, why you should be doing it, and what outcomes should you expect once it’s done.

Use this example as a blueprint to build your approach to measure performance of different activities and channels based on your business objectives and goals, and it will help you identify how you need to configure your web analytics tool and data mapping to help you with the analysis.

Or, you can simply use a growth centric platform like Benne Analytics and let it do all the heavy lifting for you. ;-)

Always remember, to achieve growth better, structure your business goals in a way that helps you visualise your marketing’s efforts as accurately as possible.

Questions? I would love to answer them for you. Maybe I can help you understand how you should set up your analytics tool to stay on top of your data.

That’s it for today, see you tomorrow.

Cheers

Abhishek

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