The current tracking technology is not limited to traditional functions, but goes much further and allows, for example, speed up the website to improve conversions or know the sales funnel thoroughly. This offers new opportunities for marketing professionals. Thanks to web analytics, it is easy to obtain data and take advantage of them to achieve a real competitive advantage.
Consumer technology is changing the way people interact with businesses at an unprecedented pace. For years, marketing technology has been used to gain competitive advantage online, and companies capable of rapidly transforming data into valuable information are gaining ground.
Precisely for this reason almost everyone uses tracking.
These are five ways to apply the tracking technology used by the marketing specialists of the leading advertisers in the UK to realize their full potential.
1. Manage labels to increase the security and speed of the website
More and more companies are turning to label management solutions when implementing new marketing tools. Almost 70% of the URLs in our dataset use free or company tag managers (or both), while last year this percentage was 46%.
The administration of labels can represent an opportunity for companies.
For example, when analyzing the URLs we realized that there are many inherited labels that do not bring benefits to the user or the company and that, however, slow down the websites and filter data to third parties. Nearly two-thirds of the websites analyzed have at least one inherited label, and 6% have at least ten. Good label management can contribute to significantly accelerate websites – a fundamental element in a mobile world – and increase conversion rates.
With a label management solution, you and the IT manager can easily agree to set labeling priorities and forget about long development cycles.
2. Adapt the analysis with custom measurements
Your company is unique, and for that reason, you need to collect and analyze specific data of visitors. For a travel agency, the data may include dates of departure and return, while for a television station it could be a specific channel package that a customer has requested or the date of renewal of a contract.
Most current analysis packages will provide you with custom dimensions that make sense for your business. Having that information in the analytics means that you can guide advertising more accurately and with personalized messages for visitors.
3. Get a broader view by eliminating silos of information
Does your company process customer calls and emails? Do you use a CRM system? Do you have stores? Outside your website, a lot of data and interactions related to the client are generated, and you can only have a complete vision if you tie all the ends.
4. Analyze in depth the sales funnel
Thanks to online analytics, the sales funnel has ceased to be a useful theory and has become a practical and rigorous tool.
You can perform a much more complete analysis of your sales funnel. What route do users make in the funnel? What affiliates, coupons or promotions have brought you here? What effect do they have on profitability? What pages have led them to add products to their carts? With what margin? At what point did you abandon the transaction?
And you could also look at other aspects: What offers are more effective when generating new customers? Which categories generate conversions more quickly? Which marketing channels generate the most benefits?
5. Targeting advertising to users with the best chance of becoming customers
Not all visitors are the same: there are those who show more interest than others, who are more likely to make conversions or who may be more profitable for your company. How can you attract the best potential customers and get conversions?
If you already know who you want to focus on, for example with the custom dimensions data you collect, you can segment and export audience lists to reach those users through the Search Network, the Display Network or email.
But you can still go much further. Google’s Universal Analytics uses automatic learning technology and is able to identify the highest quality visits to your website and create lists of the most involved visitors. In this way, you can focus your marketing strategy on what is going to report more income.
Marketing technology is leaving behind its traditional limitations and revealing valuable information. In 2019 marketing professionals should take full advantage of the opportunities offered by this technology.
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