Analytics – The Key to Profitable Marketing

Guest post by: Bob Grant
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With company websites as the cornerstone of today’s marketing, and with the addition of analytic tools to measure traffic, conversions, and sales that flow through your website, not only can you determine which half of your advertising and marketing is working, but you can make informed marketing decisions that prevent you from wasting money on advertising and marketing that does not work.

There is almost no marketing effort that can’t be tracked through analytics. Online advertising such as links from PPC, or purchased links from third party websites like Thomasnet and GlobalSpec, e-mail campaigns, direct mail campaigns, trade show events, and trade publication advertising can all be measured through your company website.

What do we measure?

Consider metrics for quantity, quality, cost, time and satisfaction. The most important metric in our space is Key Performance Indicators (KPI). For demand generation, focus on cost per inquiry, cost per opportunity and cost per sale. For branding, focus on recognition and recall through surveys.

How many unique visitors your site receives daily
Which keywords are responsible for driving sales and leads to the site
What are the most effective referring sources to drive revenue
Which marketing campaign generates the most sales at the lowest cost
Which pages within your site result in the most profit

Understanding which analytics to focus on (KPI) and understanding how to interpret those KPI can help you make improvements in your web design, improvements in your marketing/advertising campaigns, and ultimately increase the quality of your leads.

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About the Author: Bob Grant

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Bob is president of Grant Marketing, a B2B brand strategy and interactive marketing communications company in the greater Boston area. Bob has extensive experience in industrial manufacturing sales and marketing, and more than 30 years of B2B marketing and advertising experience.
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