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How Data Analytics Can Benefit Your Small Business

In 2019, the big data and business analytics market generated $189 billion in revenue globally.

Businesses and Organisations now have more data than ever at their fingertips, uncovering previously hidden patterns driving consumers. Observing customer behaviors through analytics can lead to brands discovering  exactly what their customers want and how to adhere to this.

The use of analytics encapsulates the systematic analysis of quantitative data on various aspects of audience behavior aimed at growing audiences and increasing engagement. 

This quantitative data then allows brands and businesses to tailor future content and advertisements to fit what they feel suits their audience best.

If we use Netflix as an example, the company use past search and watch data to find out exactly what their subscribers are watching in order to tailor suggestions and recommendations to their subscribers’ preferences. They use data to find out what time the subscriber watched the show, if they paused the show or watched an entire episode in one sitting.

Small businesses can use data is a very similar way by discovering customer information such as their exact location, demographics and whether or not they’re a new or returning visitor.

They can then use this information to deliver custom-made advertisements to best suit their customer’s needs. Similar to Netflix, recommended algorithms allow businesses to suggest relevant products based on the customers previous purchases and digital activity.

Understanding exactly what your customers want and what digital content they are engaging with the most can allow your small business to tailor content to best fit their needs.

Analytics allows businesses to become smarter and more efficient and when used correctly, it can create a clear advantage, boosting both interactions and revenue.

Websites such as Chartbeat and Google Analytics can provide us with this knowledge, presenting to us quantifiable and immediate feedback from our audience.

They provide information such as, the flow of your website, where your visitors are landing, where they are going and where they are leaving. This information will enable you to understand how your customers are using and engaging with your website.

You can discover what device they are viewing it from and if your site speed is slower on certain browsers, allowing you to change and adapt your site to optimize engagement and place advertisements on the pages that generate the most traffic.

Social media analytics can also benefit your brand. Analysing the data on different social media platform allows your business to discover what platforms work well for your company and what needs improving.

For example, you may see Facebook and Instagram having great responses and interactions, yet not much traffic coming from Twitter.

You can use this information to concentrate on evening up the balance, discovering what content works best with what platform in order to get all of your social media feeds working at optimal level.

Understanding your customer behavior is key to optimizing your website and social medias for key conversion metrics. There’s an old business adage that whatever is worth doing is worth measuring and your website’s analytics should be no different.

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LinkedIn Updates Marketing Partner Community

LinkedIn has announced an update to its Marketing Partner Program, which is designed to make it easier for businesses to find the right experts to assist them with each element of their LinkedIn marketing and growth process.

As explained by LinkedIn:

“Today we’re announcing updates to specialties – how you work with our partners – which will make it easier for you to find the right solutions for your marketing on LinkedIn. Whether you’re looking to create content, grow your brand, convert leads, or measure the impact of your investments, our LinkedIn marketing partners are here for you.”

LinkedIn have announced new marketing partners that can help businesses in 3 fundamental ways. 

  1. Partners are technology-enabled. They have access to the full suite of LinkedIn Marketing Solutions APIs that enable them to build self-service and enhanced service offerings above and beyond LinkedIn’s set of business tools. 
  2. Partners work alongside LinkedIn to create customer value. From product training to insights and support, marketing partners have access to the resources they need to produce results. 
  3. Partners operate as a community. As a community, you have infinite combinations of solutions for your marketing on LinkedIn. Where one partner’s solutions stops, another picks up for business continuity and efficiency. 

LinkedIn now provides dedicated third-party support in:

Page Management — Partners for page management can streamline activities across social channels, reducing the time and resources needed to maintain an effective publishing strategy. 

Content & Creative — From narratives, white papers and videos to individual posts, these experts will deliver you content and creative on time and in-budget.

Audiences — Targeting is the key to improving the efficiency of your ad investments. Partners for audiences enable you to bring your data or a partner’s data into Campaign Manager to enhance LinkedIn’s native targeting facets. 

Campaign Management — There are endless opportunities for testing and optimizing LinkedIn ads. The right partner for campaign management will help you get started, scale efficiently, and improve the return on your spend.

Lead Generation — Adding a partner for lead generation to the mix may be the fastest and easiest way to get immediate value. These partners will automatically route leads to the platform of your choice, saving you time from manually downloading lists and enabling sales to follow up quickly. 

Reporting & ROI — Partners for reporting & ROI build robust reporting for LinkedIn alongside all your other marketing programs to show a holistic view of campaign performance data and visualize return on investment.

Insights — It can be time intensive to surface the right content and audience insights for your marketing strategies and tactics. Partners for insights will uncover the information you need to build informed content and campaigns for LinkedIn.

You can read more about LinkedIn’s Marketing Partner Program here.