Your Small Business Needs Big Data

The term “big data” has become popular in the world of marketing recently. However, it is not something entirely new, and it is not something that should be feared by small business owners. In fact, big data can be a massive benefit to small businesses who sell products and need to optimize their product feed. Big data simply refers to a large volume of data used by companies. When a business has a large number of goods, say one to two thousand, attempting to go through each one and optimize them for AdWords is nearly impossible. You will need tools that can interact with those large data sets to place your data into manageable views or models. It is a common misconception that big data is only for large companies such as Wal-Mart or Target. However, it is equally important to small businesses. Locally, one company is using big data to optimize their product feed, and perhaps it is time you should as well.

Big Data for Small Businessespeople-coffee-tea-meeting

Using big data provides many benefits to small businesses. It allows them to optimize the high number of products on their website. Optimizing these products assists them in decreasing their overall bidding costs on AdWords, and in turn, greatly improves their ROI. In St. Cloud, MN, a local small business with longevity in the area has done just that. Granite City Tool supplies thousands of products for the stone working industry. From core bits to chisels and hammers, their online store makes over 4000 products readily available. To sit down and go through each one individually, and optimize it for the AdWords shopping feed would cost more in time and effort than could ever be recouped in profit. However, using big data allows them to do so. It enables them to increase sales and increase profits to affect their bottom line positively.

How to Take Advantage of Big Data

In a previous AdWords post, we discussed the importance of optimizing Google AdWords. Taking advantage of big data uses those principles to increase traffic to your site, and convert visits into sales. Tools are available for using big data; however, simply investing in big data analytics software is not enough to achieve success. Using big data is a marathon, not a sprint, and it requires a carefully crafted strategy to leverage the big data and available tools to achieve maximum ROI.  Working with a company who has the knowledge and experience to assist you with big data is critical.

At Cohlab, we fully understand big data and figure out why your small business needs big data. However, achieving this practically can be a challenging effort. That is why we work closely with you, and take the time necessary to ensure you get the most out of your efforts. We “cohlaborate” with you to generate the best ROI, and our strategy is proven to be exceedingly successful for our digital marketing clients.

Learn more about our strategy and how it can benefit your marketing. Use our complimentary Digital Marketing Scorecard to gain valuable insight on how you compare to others. Our team would love to speak with you and answer any questions you may have. Our mission is to provide you with Cohlaborative digital marketing solutions to meet your organization’s needs.

Measuring your Marketing Automation ROI: Digital Marketing ROI Series

As part of our digital marketing ROI series, we are going to learn how to measure your return on investment (ROI) for marketing automation. Marketing automation refers to software that automates your marketing processes for you. Automation is specially designed to help you prioritize and execute all of your marketing tasks in a more efficient manner. The goal is to help free up your time and streamline your tasks without compromising the quality of the content your website produces. Automation also has the added benefit of allowing marketers to reach their goals faster.

To generate more revenue, you need to drive traffic to your website, convert it into leads, and convert those leads into paying customers. You can also use it to define quality leads you can move through your funnel. Marketing automation helps you do all this and more, but how can you measure your ROI?

Calculate Traffic Generated to Your Landing Page

A common marketing automation technique involves sending out emails and newsletters with information that will attract potential clients to your website. Calculate the number of visitors brought to your landing page. Use tools like Google Analytics for this task. Google also offers a variety of webmaster tools that are useful for tracking traffic and length of each visit to your page.

Monitor Contact Interactions

Monitoring traffic is the first step, but you also need to monitor all interactions with your contacts. Which links do they click on, and what content are they downloading? All these actions can be used to calculate the number of potential leads. The data also gives you an idea of what kind of content your clients want. Create content to reflect the demand.

Learn How Many Leads Turn to Sales

Bringing in new contacts using automation won’t do any good unless they generate sales. Determine how many of your leads convert to sales. Use the data to calculate your closing ratio. The closing ratio formula is calculated by dividing total sales with total proposals or inquiries generated by the automation marketing.

Prioritize Contacts that Generate Sales

Use the data you collect to build lists of potential return clients. Develop and send these contacts specially tailored emails promoting your content. Your primary goal is to create new leads, but you can use this method to capture additional information about your established customers, and create special offers that can lead to more sales.

Schedule Social Media Posts and Track Responses

You can use marketing automation tools to schedule your company’s social media updates and promote your content directly to your clients. Track their responses and respond to any queries viewers have. Positive responses mean your automation campaign is working.

Setup Automated Reports

Automation tools can provide you with reports on how your campaign is doing. Set up automated reporting and stay informed. You can also set up automation alerts based on how your leads behave. If your campaign isn’t effective, find out why and work to reinvent the problem.

At Cohlab, we fully understand the importance of knowing your marketing automation ROI. That is why we do take the time to ensure you understand both the tangible and intangible results of your digital marketing efforts. We “cohlaborate” with you on proving out your marketing ROI, and our strategy has been greatly successful for digital marketing clients. Use our complimentary Digital Marketing Scorecard to gain valuable insight on how your website rank compares to others. Our team would love to speak with you and answer any questions you may have. Our mission is to provide you with Cohlaborative digital marketing solutions to meet your organization’s needs.