When you first start out building a business, everything is so overwhelming that the last thing you want to think about is data, marketing metrics, or numbers. In fact that is the last thing many want to even consider when they think about what it takes to have a successful business. But it’s really not that complicated if you know what to do. Here are eight common mistakes to avoid so that you don’t waste any of your already limited time as a business owner.
8 Marketing Metrics Mistakes
- Not Knowing What Data to Track – Before you even get started looking at the data, you need to know what you want to track. Remember that just because data exists doesn’t mean you need to track it. Some of the marketing metrics that Google Analytics collects just isn’t going to help you. You have to figure out what will help you and what won’t. Focus only on the data that will actually help you to accomplish your goals.
- Not Knowing When to Track Data – When you look at the data is a very important aspect, because you have to look at it at the right time in order to know what the data affects. For example, if you have a launch on the 1st of July, you probably want to look at the pertinent data you’ve identified both before and after the launch.
- Not Understanding Your Objectives and Goals – It’s very important to know how to turn all your business objectives into workable goals. Remember a goal needs to be SMART. That means: specific, measurable, attainable, relevant and timely.
- Not Realizing What Problems You Want to Solve – Tracking data should be for a reason, such as fixing a problem. For example, let’s say you have a sales page that is getting a lot of traffic but there are little or no conversions. Do you know what specific data to look at so that you can fix the problem? Spend some time thinking about what you want to accomplish as well as some problem areas you have in your business.
- Not Fully Understanding the Business You’re Analyzing – If you are looking at data for a business you’re unfamiliar with, you can run into problems. You will need to do some research to understand industry averages what the marketing metrics should be for that particular industry.
- Not Testing Different Methods – Whenever you are checking data up against the industry standards, it’s important that you test different methods to find out what works best. For example, you might test two or three different sales pages for one product or service at the same time and track which option gets you the best numbers. You might be surprised at the results!
- Not Setting Up Analytics Correctly – If you’ve never set up Google Analytics, it would be a good idea to get some help with that from an expert. Once it’s set up correctly, it’s going to be a lot easier to track your work. If you set it up incorrectly from the start, it ends up being a waste of time instead of an advantage.
- Not Choosing the Right Software and Tools – There is a lot of software out there that isn’t worth anything, but that doesn’t stop people from trying to use it or sell it to you. Even if it’s a free tool, just remember that sometimes free is good, and sometimes you get what you pay for. If you hire an expert, they’ll help you ensure that not only are you setting it up correctly, but also with the right tools.
Don’t let analytics scare you away from doing business. It isn’t as complicated as it seems. You need these numbers to make good, informed choices about what to do next in your business. Knowing the numbers and investing the time to do it right up front will help you avoid mistakes that can be very costly to your business, both in terms of time and money.