A frequently asked question that can be answered with a follow-up question. How confident are you that you know your target audience the circumstances surrounding them?
There are some clients that I work with that have a handle on who their ideal customer is and how to find more of them. Relying more on referrals and word of mouth than they do on sourcing new leads.
These tend to be the businesses that have been established in their industry and can afford to rely on the client list that they built over that time. They have brand champions that serve as extensions of their sales team. Due to the great results that they received consistently over the years of operation.
The flip side to that is some clients can’t rely on word of mouth and referrals to cover their expenses and pay themselves as a business. This can be the case no matter the years of operation.
There are mitigating factors to consider like the length of the sales process and the price point. In addition to the industry. Some industries are constantly evolving and so are the client expectations.
One of the things that I learned over the years working as an Account Manager is that even if the client doesn’t read the reports. The person responsible for delivering the results better stay dialed in.
When you’re running a marketing campaign your results are driven by your understanding of the targeted audience. As well as the circumstances surrounding them at any given point and time.
What makes analytics and reporting worth reviewing? The circumstances that surround the target audience. The need to remain fluid and adjust as needed. Fixed campaign strategies that don’t account for changes in circumstances are on the verge of failure to hit their goals.
Reporting and analytics can be intimidating, and overwhelming. The key to deciphering them is in the setup of the report. KPI’s will depend on the goals set and the direction that you are trying to take the business in.
Even the most seasoned vets in their field can benefit from analytics when they’re rolling out a new product and or service. Changes can affect the sales process as well as the target audience. This is something to monitor so that you can stay out ahead of the long-term effects.
Reports and Analytics are other forms of survey where people are checking boxes. The campaigns are asking questions and the reports are documenting the responses. This is why setting up a report with the right KPIs matter.
The structure of the report will allow the analyst to sort and organize the feedback in a way that makes it more palatable. Your key performance indicators will tell you what to look for in analytics.
The insights are meant to create new opportunities and an understanding of the audience. The one constant is change and that’s where the benefits of reporting and analytics can help a business.
It takes it beyond perception to Identifying trends and more subtle changes that can have long-term effects. Reports and analytics have two main goals. One is to shine a light on the return that you’re getting for your investment. The other is to determine the easiest path to a conversion from a prospect.
Is it worth reading reports and analytics? How confident are you that you know your target audience the circumstances surrounding them?