Five ways to use business analytics to boost your marketing efforts

Running a successful business today is all about making smart decisions. Imagine you own a small online boutique. You've tried different marketing tactics, but the sales just aren't there. Enter business analytics. By digging into your business data, you can get to know your customers better, tweak your marketing efforts, and watch your sales grow. Here are five ways business analytics can supercharge your marketing efforts.

1. Understand your audience

Knowing who your customers are is the first step to running a successful marketing campaign. Business analytics helps you analyse customer behaviour and spot trends. For example, if you notice most of your sales come from women aged 25–34, you can tailor your marketing to this demographic. Use website analytics to see which pages they're visiting most and what products they're interested in. Getting feedback through surveys can also give you direct insights into their preferences and needs.

Understanding your audience goes beyond basic demographics. Dive into psychographics to grasp their interests, values, and lifestyles. For example, if you run a fitness brand, it's crucial for you to know whether your audience prefers yoga, high-intensity workouts, or outdoor adventures. Here, data analytics tools like Zoho Analytics can show you which blog posts or products are getting the most attention. This data helps you create customer personas—detailed profiles that represent your ideal customers. These personas guide your marketing strategies, ensuring they resonate with your audience's interests and pain points.

Another powerful tool is social listening. Monitor social media platforms to see what your customers are talking about. What are their main concerns or desires? For instance, if you're in the beauty industry and notice a spike in conversations about vegan and cruelty-free products, that information is invaluable. It tells you what your audience cares about right now, allowing you to align your marketing messages accordingly. 

2. Personalise your marketing efforts  

With a clear understanding of your audience, you can start personalising your marketing. People are more likely to respond to messages and emails that feel customised to them. If data shows a segment of your customers loves eco-friendly products, highlight these in your emails and ads targeted at this group. Personalisation increases engagement and builds stronger customer relationships. According to McKinsey & Company, personalisation can lead to a 78% increase in repurchase rates. This translates to not only stronger customer relationships but also a significant boost to your bottom line.

Personalisation also extends to your website. Use dynamic content to show different products or messages to different segments of visitors. For example, first-time visitors might see an introductory offer, while returning customers might get personalised product recommendations based on their past purchases. Tools that allow you to create personalised landing pages can make your website feel more welcoming and relevant to each visitor.

Additionally, with data from business analytics, you can create highly-targeted ad campaigns on platforms like Facebook and Google. Instead of a one-size-fits-all ad, you can design multiple versions that speak directly to different audience segments. This approach not only improves ad performance but also maximises your return on investment.

3. Track campaign performance  

Launching a campaign is just the beginning. You need to track its performance to see if it's hitting the mark. Business analytics lets you monitor key metrics like click-through rates, conversion rates, and ROI. If you notice that your email campaigns are performing well but social media ads are lagging, you can adjust your strategy to focus more on what's working well for you.

A/B testing is a powerful technique to optimise your campaigns. Test different versions of your emails, ads, or landing pages to see which one performs better. For instance, you might test two different headlines for an email campaign. One might emphasise a limited-time offer, while the other highlights a unique product feature. By comparing the results, you can determine which approach resonates with your audience more.

When tracking campaign performance, it's essential to set clear, measurable goals from the start. What does success look like for this campaign? Is it increased website traffic, higher sales, or more email sign-ups? Having specific goals allows you to measure progress accurately and make data-driven decisions.

Business analytics tools also provide insights into customer journeys. Track how customers move through your sales funnel from the first interaction to the final purchase. If you notice a drop-off at a particular stage, investigate why. Maybe your checkout process is too complicated, or your landing page isn't convincing enough. Identifying and addressing these bottlenecks can significantly improve your conversion rates.

4. Optimise marketing channels  

Not all marketing channels are created equal. Some might be more effective for your business than others. Business analytics helps you optimise the effort you put into each marketing channel. Start by analysing performance metrics for each medium. Look at traffic, engagement, conversion rates, and cost per acquisition. This data helps you identify which channels are delivering the best results.

Let's say your email marketing has a high conversion rate but a low open rate. Then, you might need to work on improving your subject lines or sender reputation. If your social media data shows Instagram brings in more sales than Facebook, you can allocate more resources to improve your Instagram strategy. This regular data analysis ensures you're getting the best value for your money.

Don't just focus on the channels that are performing well; look at under-performing channels to see if there's potential for improvement, too. Maybe your LinkedIn ads aren't getting much traction because you're targeting the wrong audience. Or perhaps your blog isn't driving traffic because your SEO strategy needs work. By identifying and addressing these issues, you can optimise each channel's performance.

Zoho Analytics can provide detailed insights into how different channels are performing. You can see where your traffic is coming from, how visitors are interacting with your site, and which channels are driving the most conversions. You can use this data to make informed decisions about where to allocate your marketing budget.

5. Enhance your marketing strategy  

Finally, business analytics allows you to refine and enhance your overall marketing strategy constantly. By assessing your current strategy and analysing customer trends, you can identify areas for improvement—what's working well, and what isn't. Use business analytics to gather insights into your campaigns, customer behaviour, and market trends. This assessment helps you identify strengths to build on and weaknesses to address. Maybe you need to shift your focus from lead generation to nurturing existing customers. Or perhaps your website analytics reveals that your online presence needs a boost.

Customer feedback is another valuable resource. Create surveys to gather direct feedback from your audience. Ask them what they like about your brand, what they don't like, and what they'd like to see more of. This feedback provides a fresh perspective and can reveal opportunities for improvement you might not have considered.

Keep an eye on industry trends and competitor strategies as well. Business analytics can help you stay ahead of the curve by identifying emerging trends and shifts in customer preferences. To ensure you're always moving forward, regularly revisit and revise your marketing strategy based on the insights you gather. Set new goals, experiment with new tactics, and measure your results. This iterative process ensures your marketing efforts are always aligned with your business goals and market conditions.

Wrapping up

Business analytics isn't just about numbers; it's about making informed decisions that drive your marketing forward. Whether you're a small boutique or a large corporation, continuously enhancing your marketing strategies can lead to significant business growth. However, the journey doesn't end with marketing. If you're looking to dive deeper into how business analytics can also transform your sales efforts, check out our blog: Five key ways to accelerate your sales strategy with business analytics.