In the always connected time we live in today, marketers have access to an overwhelming number of channels that can help them reach out to their customers. It is easy to feel overpowered and numb by the sheer number of options available to you. As entrepreneurs, you want to make sure that you are spending your time, money and resources on the most promising and impactful channels and tactics. But, how do you identify them? In the absence of a simple and quick way to identify these channels, the other items on your plate keep on taking priority, and this analysis takes a backseat. You continue going about your marketing activities as you have been, and get stuck with an assortment of marketing activities that are bringing results, but aren’t optimised for growth.
To achieve growth, you need a clear understanding of what works for your business, what doesn’t, and what just appears to be working. You need to get clarity on channels that are working, but not as well as some of the others. You need to back your winning horses, and for that, you need to identify them first.
The basics: Focus on what you can do, and do well.
Conversational AI. Transactional Chatbots. AI generated content.
With all these shiny things out there, it is easy to get distracted. They all seem great on the first look, and you want to implement them for your business. I am here to tell you not to. Focus on the things you know well. Things that you can do with some reasonable proficiency. Venturing into unknown and unmapped territories with severe constraints on bandwidth and resources can prove detrimental not just to performance of the new channels you wanted to try out, but the performance of existing channels as well.
So pick your battles, and pick them well.
Tools that can help you with this exercise
Identifying the most promising marketing channels for you is an exercise all businesses need to perform. You can do it with any tool at your disposal. The way you would perform the analysis would differ based on the tool you use, but the underlying concepts will remain the same.
The most common tool that can aid you in this activity? Google Analytics. It is the most widely used web analytics platform, and if you are not using Benne Analytics to measure the quality of your traffic and power your growth, chances are you are probably using Google Analytics.
The problem with Google Analytics is the sheer depth and complexity of the tool. You need to undergo days of training and walkthroughs if you want to understand all that Google Analytics can do for you. For anyone who hasn’t been using Google Analytics to actually analyze the traffic data (beyond Google’s own reports), the task will seem daunting at first. There is so much data scattered everywhere that it sometimes becomes hard to know where to look to find the most important data points for you.
Unless you know which sections to pay attention to, you will keep on tumbling down the rabbit hole, and spend hours digging through the platform and various dashboards and yet walk away with nothing but an intense headache.
Why are we talking about this today?
Complexity. It drives us nuts.
As true as it is that effective marketing and growth relies heavily on a deeper understanding of your data, unless the data is presented right, and put in context, you will probably never get to the bottom of that analysis. The complexity of the whole exercise is just too much offputting for you to endure the stress of navigating through all that noise.
Users of Benne Analytics, on the other hand, have access to the data that matters right at their fingertips. As a marketer myself, I used to spend countless hours to dig through noise to cherry pick the data points that mattered to me. The end result, only 20% of the time I was spending on my work was spent on actual work. The rest 80% was wasted in clearing out all the junk and noise. That’s what Benne Analytics aims to change. Its continuously evolving algorithms focus on delivering relevant marketing signals and insights to our users. Signals that can help them plan out and execute their marketing activities better.
If you use Benne Analytics, you probably already receive reports on the most promising marketing channels for you, categorised by their value, velocity etc.
But, even if you use any other analytics tool, you can look at certain data points in your dashboards to come at somewhat similar conclusions. So let us look into it.
Value is good. But too much clutter makes that inaccessible to users.
We don’t hate Google Analytics. Or Adobe Analytics. Or any of the other products out there. We may not agree with how Google tracks your users for its own gains, or with their views on privacy in general, but we do acknowledge the impact their tool has had in the lives of millions of consumers worldwide. Even if the tool served their interest more than it did their customers, we find ourselves unable to not appreciate the capabilities of the product.
Our problem is with the invasion of privacy and in general ethics of the platform. But just as important, our problem is with the utmost complexity of the system.
The more complex your product is, the less users will use it. Users may use it to perform a task or two - the easiest, most accessible ones, but beyond that? Crickets!
Our philosophy is simple: Make it rich and valuable, but keep it simple. If we didn’t do that, even our users would just get simple traffic dashboards - much like 80% of Google Analytics users.
Unfortunately, the problem isn’t limited to GA. Most analytics platforms out there overcomplicate the user interface, as a result the real value they could have provided gets lost in all that noise. Just look at these snapshots from Adobe Analytics.
Just watching it makes my head hurt.
So our dashboard is simple. Just the metrics you look at the most.
But, behind the scene, the system analyzes all sorts of data and trends/behaviors. And it alerts you whenever it comes across a behavior that needs to be highlighted.
The benefit of this approach?
Our users are never overwhelmed by too much information dumped on them at any time
They get a bird’s eye view of the data for their business
They get automatic analysis and insights. Without spending any time or resources on it
When they need to look at the data-points powering any analysis, dive deeper into the data right from the insights. (Imagine it as you reading a newspaper. If the headline interests you, you read a little more of the story. If that piques your curiosity further, you read more. We present our insights and analysis the exact same way. Always starting with the bottom line.)
How do you use your analytics platform? Which platform are you using? Do you like it? Do you wish it did more? What? And most importantly, what are your business goals? If you are up for a talk, I would love to listen. 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.
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