In a world where technology and data are constantly evolving, it is important to evaluate if your business is properly measuring your digital marketing analytics. According to an article on Inc.com, it is reported that between 60% and 73% of all data within a company is unused. It is crucial that your organization is not only accessing your digital analytics properly, but that this data is utilized in ways that benefit your organization.
While many digital marketing companies may provide you with data and analytics, are they providing you with a deeper analysis of this data? Or, are they helping you to make strategic decisions regarding this data to further push the needle in your marketing efforts?
In a 2018 State of Inbound Report, HubSpot reported that 63% of companies consider generating enough traffic to their website and further, generating leads, as their top marketing challenge. In that same report, 60% of respondents believed that inbound practices (digital marketing efforts) generated the most high-quality leads.
So, what does this all mean?
While we know that digital marketing generates quality leads, we are still working to generate enough digital traffic and leads to satisfy our industry. Why is this relevant? Consistently reviewing your digital analytics will help you make better decisions about enhancing your marketing efforts so you’re able to tackle the hurdles you’re looking to overcome within your business.
At Markentum, we believe in utilizing your marketing analytics to help you make better, more informed decisions for your business. Specializing in the senior living industry, we’re not only able to provide you with a deeper understanding of your data, but we’re able to provide you with industry trends and norms that other agencies might not be able to provide.
Still not convinced? Here are three reasons your business should be keeping an eye on your marketing analytics on an ongoing basis:
1. Understand Your Business
Imagine that you’re asked to step into the cage to feed an animal that you’ve never before seen, heard of, or know anything about. Before you step into the cage, you’re probably going to want to ask a few questions...right? You’ll want to know what the animal eats, where the animal has been, and you’ll want to know if the animal is familiar with humans.
Think of your digital marketing the same way. How can you be expected to feed the animal (your customer) what it wants or needs, if you don’t understand who your customer is, what they’re doing on your site, or what they’re looking for? By understanding your data and analytics available to you online (in various forms), you’re able to have a deeper understanding of whom you are attracting. Perhaps you think that your business is only attracting seniors older than 65…but your data is telling you that you’re getting the highest amount of leads from women, ages 35-55 with the persona of “Adult Daughter”.
In understanding this data, you’re able to tier your marketing efforts to those that are likely to land on your website, fill out a form, or interact with you on social media. Without access to this, you’ll have no idea to whom you should be marketing to.
2. GEt the full Value of Your Digital Marketing
Although sometimes it may be difficult to have the opportunity to provide your teams with the value of your marketing efforts, digital marketing provides an easier way to track your efforts than outbound methods. Through inbound marketing, a lot of your data is able to be tracked, to provide your teams with the data behind your marketing. Through Facebook advertising, you’re able to tell how many leads you’ve acquired and how much it will cost you to acquire them. Through Google Analytics, you can setup measurable goals in both traffic and conversions. Utilizing HubSpot, we’re able to provide a complete customer journey for your leads and better understand how lead nurturing processes worked, and how they perhaps failed.
In being able to provide your teams with this data, Markentum can help you prove to your company the exact dollar value of your digital marketing efforts.
3. Set Goals
In the senior living industry, it is no surprise that “gaining more move-ins” is a top priority. We’re consistently seeking to help you achieve this goal, and we aim to continue to attract new leads to nurture to allow for a steady stream of new move-ins. To measure this success in gaining qualified leads, Markentum utilizes a variety of platforms.
As the Director of Partner Success, I will meet with your marketing team on a monthly basis to further discuss all data and analytics to be sure that not only goals are assessed, but data and analytics are understood, and together, we partner to set strategic direction on your company marketing efforts. By setting measurable goals, we can work together to grow through both successes and opportunities for your business. The strategic conversation is then brought to our internal team members to execute and adjust goals, while working to further achieve success in various areas.
Are you interested in learning more about our monthly strategic reporting? Click here to schedule a free evaluation!