In the 21st century, it seems
like we have analytics for absolutely everything. We collect more data than
ever before, and for much of that data, it’s very difficult to turn it into
actionable insights.
There are, however, a number of analytical
tools available to businesses that they’re not making the most of. These
analytical tools don’t just give you data; they give you actionable insights
that can really help your business to grow.
So, what analytics does your business need
to track, and how can they help your growth?
Website Analytics
Every business has a website, but many
don’t use the data those websites collect to form actionable insights. However,
if you’re not using your web analytics to inform your decision making, then you’re really missing out on a valuable resource.
Google Analytics is a free platform that
gives you a huge amount of information about how people interact with your
website, and you can use this information to improve your business performance.
When you have 100,000 visitors a month to your site, these analytics can give
you so much insightful information.
You can find out what content your visitors
like most, what marketing messages are most effective, which promotions are
selling your product – the list is endless.
If you have a website that’s getting
traffic, then you’ve got to make the most of this data.
Call Analytics
Call analytics are particularly useful in
call centers, but they can benefit companies in any industry. Any interaction
your employees have with a customer is a valuable learning opportunity, but
only if you have access to the data from those calls.
Through a quality UC software from a
company like Code Software, you can access
analytics that can help streamline your communication and improve processes.
The technology in these systems is so good
that it can track keywords from conversations that lead to purchases, detect
the sentiment in a customer’s voice to decide if they’re happy or unhappy with
the service, predict customer preferences, and detect fraud.
This data can have a huge impact on the
effectiveness of your employees, but only if it’s presented through good
analytics.
CRM Analytics
CRM software puts your customer
relationship management tools in one place and allows you to track performance
in sales and customer service. This is another key area of any business, and so
it’s important to learn from the data that’s being collected.
By tracking your company’s interaction with
customers, CRM analytics can help give you an overview of how well your
business is performing. If targets aren’t being met,
then you can look through the data and pinpoint the reasons that might be.
For example, your CRM analytics might show
you that you’re generating lots of leads, but you’re missing your targets of
replying to 80% of those leads in under 24 hours. This may be a reason why
you’re not converting as many leads as you want to.
Without the detailed analytics, it’s much
more difficult to pinpoint the problem.
