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Are Analytics Helping or Hurting Your Business?

Posted by on Jun 3, 2016 in blog | 0 comments

If you have ever had the dashboard on your car stop working, it can be pretty unnerving.  You also quickly realize just how much you rely on the information it provides. We have identified two key challenges business owners face in using analytics to boost the performance of their Internet presence.  Below we will share what those are and some ideas you can use to harness the power of data for your business. Why do so few business owners use Internet analytics? Good businesses measure their financials, from sales revenue and profits to expenses.  It not only keeps them out of legal trouble, but helps them drive performance.  Yet in 98% of the businesses I have met with, when asked about the performance of their online presence I’m told, “We have Google Analytics, but I don’t know how to read it” or “We’ve been meaning to set up Google Analytics”. If this sounds familiar, you have plenty of company.  This also means that with just a little effort you can outperform your competition by understanding how to measure what is important to your business.  Doing this would put you in the top 5% of businesses. The Two Obstacles:  Time and Fear Business owners face two key obstacles to using analytics to monitor their web presence:  They lack the time or they fear it will reveal below average performance.   Time is a challenge for any business owner, so there has to be a positive trade off between time and reward.  Sometimes that means delegating internally or externally.  If that’s not an option, check out the solutions listed below. The business owners most likely to fear seeing the results are those who have tried to manage their online presence personally.  There is great pride in ownership and not knowing if their efforts are working means they can avoid admitting that something may not be working.  It can be far easier to embrace analytics to hold others accountable than yourself. If you are a business owner / leader  and struggle with time or fear what you might see in analytics, ask yourself the following questions: How do you currently accomplish tasks that require specific skills you don’t have yourself? What data would be most useful to help your business outperform the online competition?  Could you identify three to five key metrics? Think about a tool like Excel, do you need to know everything about it to use it or just the functions that help you get the information you need? Who in your company needs to know how your online presence is performing? How would knowing this information positively impact sales, service or operations? Possible Solutions Sign up for an introductory workshop on Google Analytics.  You will likely...

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