The four letter word that has allowed my clients to profitably scale their already substantial advertising budgets by over 500% over the last month and still rising. 🤑
DATA! 📶
Take a page out of the amazon playbook with this strategy to grow your business at scale.
They use data to keep an eye on the vital signs of their business and as a roadmap to opportunities/blockages in their conversion process.
What I’m about to go through is really suited to business owners that are at the point they want to put some checks and balances in place and really start scaling.
It’s for you if you’ve been in business for at least a few years you’ve got a working offer downpact, a regular stream of clients/customers…
BUT you’re not sure about the following:
❌ You don’t know EXACTLY where and how your customers are finding you. (including multiple touchpoints if you’re doing any sort of remarketing)
❌ You don’t know where the bottlenecks in your conversion process are.
Are you familiar with the phrase “Data is King”
Well it’s true.. but only in the right kingdom of context.
The real power of data comes from using it to make effective business decisions.
In order to do that you must first make sure you’re getting the right data
And presenting it in a way that allows you to make decisions quickly.
Without having to dig through piles of information…
With Facebook, Google and other sources of advertising you use you need to tell feed them the right information in order for it to be effective.
That means setting up what I call conversion checkpoints.
The actions that indicate that someone is interested in what you offer.
And ultimately being able to tell them what resulted in a customer.
This way they can help you find more people like that.
So how is it actually done?
1️⃣ Set up Google Analytics with advanced tracking.
2️⃣ Set up Google Tag Manager
3️⃣ Implement Tracking from the ad networks you use.
4️⃣ Add advanced tracking for specific actions that are relevant to your business e.g phone calls, pdf downloads, sales
5️⃣ Set up Google Data Studio Dashboard to present the information you need in a way that allows you to quickly see the performance of channels and identify potential roadblocks.
Your dashboard should allow you to break down your data by
✅Time Period
✅Channel Source (Where the traffic came from)
✅Device (What device the visitors came to your site on)
✅User Type (Whether they’re new or returning visitors)
At the very least you should be able to get stats for the following
✅ User Data (Visitors, Locations of Buyers, Who’s Buying (Demographics)
✅ Purchase Data (Revenue, Orders , Avg Order Value, Conversion Rate, Traffic Sources, How many days it takes people to buy (Days to transaction))
✅ Technical Data (Page Load Time, What pages you’re losing people on)
I can’t even begin to describe how valuable the ability to view this data at a glance is!
Once you know this you can course correct or maximise what’s working well.
Get this dialled in then the real fun begins! Split testing your marketing message/flow to improve results. (That’s a post for another day!)
Final notes:
Setting this up properly isn’t easy, but the return on time invested is well and truly worth it. I highly recommend familiarising yourself with how to leverage and manipulate data using Google Analytics, Google Tag Manager and the Advertising Platforms that you plan on using.
Last I checked the guys who are doing analytics audits well were charging upwards of $5k USD, that’s WITHOUT setting up the visualisation dashboards and honestly still well and truly worth it!
Born as a serial ‘thinker’ I’ve always had a fascination for understanding how and why people do the things they do. As I’ve grown up this fascination turned into a career in film & tv, then sales and marketing. You name it I’ve probably sold it! (and have a lesson or two to share about the journey)
I’d love for you to connect with me here or on Facebook/LinkedIn.