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Happy Marketer Blog

Analytics for Singapore SMEs: How to Boost Your Bottom Line

Posted by Tanisha on Nov 27, 2015 12:38:00 AM
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What if you could close more leads and sales without spending a lot on digital marketing? According to Singstat.gov, 99% of businesses in Singapore are small- and medium-sized enterprises (SMEs). That means there are a lot of players competing for your clients.

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According to Singstat.gov, 99% of businesses in Singapore are small- and medium-sized enterprises (SMEs). That means there are a lot of players competing for your clients.

One way to differentiate yourself from the pack is to build awareness for your brand. Search, social, digital ads, and email are all great ways to get more visibility and traffic.

But what if you already have enough brand visibility and you just want a better sales conversion? What if you could close more leads and sales without spending a lot on marketing?

That's where analytics comes in. You've probably got the most powerful business analytics tool embedded in your business: Google Analytics. You just haven't used it yet.

Here are six ways you can boost your bottom line with Google Analytics:

1. Set Up Goals

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[Source: Sprout Social]

How do you know if your organisation is growing? Establishing ‘goals’ in Google Analytics allows you to measure your success.

By using Google Analytics data, you can actually measure website traffic, page views, impressions and funnel conversion rates that take place on your website, which is the portal to your customer base. This is correlated to the rate of e-commerce transactions, app downloads and lead generation - all integral factors for boosting your ROI. 

2. Track Your Social Feats

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[Source: Happy Marketer]

Your social media marketing efforts don’t have to be a huge gamble. Using analytics to pinpoint the network that serves your purpose helps save time, money and effort. You will be able to see how each social media platform attracts attention for your brand. Using network referrals data in Google Analytics may even show you where your highest rate of engagement takes place (in terms of clickthrough rates).

It will also show you if certain times and pages experience more interactions and whether these affect your conversion rates. Using such data could ensure your social media initiatives support your business growth.

3. Finesse Your SEO

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[Source: Web Marketing Today]

Do you want your website to rise to the top of search engine pages? Then you’ll probably need to focus on pumping your pages with the right keywords. Glancing at the ‘queries’ end of analytics will show you how many visitors your landing pages receive and the average positions of your content.

This area of data monitoring is all about ‘word-dominance’, highlighting the strength of your copy, keyword strategy and metadata descriptions. You may even look at popular queries that are fed into Google on an average rate to figure out ways of being relevant to customers and to let relevant customers find you.

4. Study Your Sales Analysis '

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[Source: Happy Marketer]

One of the most insightful features of Google Analytics Premium is measuring the performance of your digital traffic and financial patterns. You may notice that certain areas of your website need more financial focus than others.

To determine your ROI using analytics, you can set a price of your particular product or service (in the desired currency) to know how much your business strategy is actually worth. Tracking the behavior of your online investments in real-time will also allow you to make instantaneous decisions about marketing or setting up special offers.

5. Look To Attribution For Guidance

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[Source: Avinash Kaushik]

Do you have trouble figuring out where your ads should be placed? Using attribution on Google analytics will give you a simple and clean summary of where your conversions take place, which sources made it happen and where you could build future promotions. Comparing the different types of conversions such as ‘last click’ (where the final decision was made along the navigation process), ‘direct’ and ‘assisted’ will allow you to know where you should implement stronger sales tactics and where your efforts are successful already.  

6. Make the Most of Automated Reports

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[Source: Yoast]

Creating relevant dashboards and reports of your marketing efforts are perhaps one of the most important things to cover when it comes to monitoring and boosting your bottom line. With Google Analytics’ Dashboards & Reporting modules, you can save time while sifting through series of data.

Apart from the default reporting feature in Google Analytics, you can also use third-party reporting tools that connect to Google Analytics to have full control over what information you wish to focus on, allowing your data reports to be relevant to your needs. These reports can then automatically be sent to you via email, which you can generate for your team. Additionally, the Google Analytics API feature allows you to capture raw data and alter them so that you can create graphs and other visual representations.

Conclusion

With these six simple tips, your journey to attracting and winning the loyalties of customers should be smoother than ever. Using analytics is usually a great first step to establishing goals for high ROI, as it gives a great foundation for customer engagement and strategic growth.

If you'd like to learn more about boosting your bottom line for the next quarter,  you can get a step-by-step strategy plan with the help of our Google Analytics Consulting team, or sign up for our hands-on training sessions. 

 

Topics: Digital Marketing

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