Step 1: Data-Driven Marketing Funnel Optimization
Before dumping anymore money into additional advertising and traffic sources, it is important to analyze the current situation of your marketing funnel to pinpoint areas of improvement, and weed out wasted traffic sources that aren't converting to qualified leads and sales. If you don't currently have a data-driven sales funnel in place, you need to set that up in a way that is customer centric to your target audience before you even think about investing more money in ads.
Track Marketing Data With Google Event Tracking On Your Website
If you don't already have Google events tracking setup, we highly recommend you set it up so that you can determine how many of your visitors are converting into qualified leads and sales. and furthermore determine where those visitors are coming from before they go to your website. Data-driven analytics will be the foundation for gathering a great deal of important data that can help you optimize your revenue and invest in the most lucrative advertising opportunities.
Setup Data-Driven Conversion Rate Optimization Software
We use software like Lucky Orange, and Hotjar to collect data from our client's websites, which helps us determine exactly how visitors are behaving on the site. This allows us to see things like where the visitor came from, how long they were on the website, what pages they visited, what page they were on when they left the website, and even which form fields they filled out before abandoning a form filling process.
In addition to the metrics mentioned above, one of the most amazing, and useful features of this software is the ability to record actual videos of the visitors interacting with the website to pinpoint specific areas of frustration causing visitors to leave without converting into a lead or sale. With this data, you can design a better information architecture for your visitors so they flow to the information they seek in a more efficient and frictionless way.
Run Data-Driven Analysis Reports On Top Competitors
Spyfu offers a very easy to use reporting system that allows you to drop in a competitors' website URL, and generate a report of their traffic volume, traffic sources, Adwords budget, snapshots of their ads, and additional competitors in their industry. It doesn't take very long to quickly pick up on additional advertising opportunities that you may not be currently taking advantage of in your data driven marketing campaigns.
Step 2: Develop A Factual Data-Driven Marketing Strategy
It's very important to develop a solid data-driven brand strategy if you want your business to grow online while getting the best return on investment in the shortest time possible. Here is an example of a fairly robust data-driven gameplan for marketing a business online. The timelines are rough, and will vary depending on many factors, but should give you a rough idea of what it looks like.
Use Data To Pinpoint High & Low Performing Traffic Sources
After analyzing Google Analytics & Lucky Orange reports, you can begin pinpointing some traffic sources that aren't performing as well as others. If you want to get the most out of your marketing budget, and develop a successful data-driven sales process, it is very important to put your money into the traffic sources that are resulting in the highest conversions. Your Google Events tracking will help you determine where most of your converted visitors are coming from so you can put more money into those traffic sources, and less money into lower performing traffic sources.
Validate Data-Driven Website Optimizations To Improve Conversions
After reviewing Google Analytics reports, and Lucky Orange data, you will be amazed at how clearly you can pinpoint design, layout, and content problems on your website that cause visitors to get frustrated and leave. Sometimes, you may find that you have a bug, or glitch only affecting a specific device type, and other time you may find a problem that affects users across multiple devices.
Aside from glitches, and bugs, there may be other problems you become aware of such as Call to Action buttons, or headlines that seem confusing or unclear to the user that can be tweaked to improve your conversion rate which you can begin to validate by setting up A/B tests like you see above.
Develop A Data-Driven Growth Strategy To Improve Conversions
The great thing about the modern age of customer experience technology is the ability to test changes with minimal risk to build a data-driven business model. With tools like Google Optimize, you can A/B test changes such as testing headline variations without actually making the live change on your site yet, then once you have determined the winner, you can push the change live with confidence that you are doing what's best for your ROI.
Step 3: Use Marketing Data To Measure Success & Optimize Performance
The data-driven growth hacking process never stops, therefore you must continually analyze reports to pinpoint new areas of improving customer experience through data-driven customer experience design, and digital marketing optimization.
Regularly Analyze Traffic Data Reports & User Experience Metrics
We've all heard the term "always room for improvement" at some point. This is especially true for conversion rate optimization and data-driven marketing, which is all about improving performance and generating additional revenue. If you are serious about getting the most out of your marketing, you should regularly be measuring your success based on KPI's (key performance indicators), and making improvements to your conversion funnel, and marketing channels.
Use Automated Data-Driven Reports To Continually Optimize Your Sales Funnel
Lucky Orange, and Google Events tracking will make this so much easier for you, and if you set up automated reports to be sent to your email, it will constantly remind you to be looking at where you are now in relationship to your goals. Seeing how visitors flow through your website, and segmenting visitors based on traffic source, device and more will help you filter your data so it is more effective and accurate at giving you true insights that validate the need for change.
Use Advertising Data To Justify Eliminating Poor Converting Ads
One of the keys to successful data-driven advertising, especially with Google Adwords is the ability to greatly improve your ROI by optimizing low performing ads, keeping your landing pages relevant to your ad copy to improve quality score, and blacklisting negative keywords that bring you irrelevant traffic that simply wastes your budget.
Use Data-Driven Remarketing & Artificial Intelligence To Convert More Prospects
You can take this all a step further by taking advantage of re-marketing pixels designed to reserve dynamic ads to unconverted visitors to get the message in front of them that resonates with them more effectively as a viable solution to their problem. Google even has some artificial intelligence technology built into their "audience insights, and "in market audiences", which will help you target ideal customers at just the right moment when they are in a purchasing behavior.