No matter what industry you are in there is no avoiding the need for data. As an entrepreneur, you especially should have an immediate interest in any tool that will optimize business growth. Data is literally the powerhouse of your industry and the key to surviving today’s business world. In fact, when you are seeking to leverage your data to expand your business you will need every tool available. A very resourceful tool that every business should utilize is Google analytics. With this tool, you will gain valuable insight into your current audience. Data such as, which browser your audience uses most, what pages they are visiting, their geographic information, demographics, and much more. The beautiful thing about receiving all of these valuable insights is it doesn’t cost a thing. To get a better understanding of the power and usefulness of Google Analytics I have listed a few things you should know.
It is Free
Before you invest heavily in an expert level analytics system, please remember there is a popular and result proven tool that you can access for free. You are literally paying $0 to have access to some of the most accurate and valuable data insights in the world. However, I must provide a warning. Although Google Analytics is a free tool to use, taking the time to learn how to interpret and apply this data will cost you. Now we all have the capabilities to learn on our own via Youtube, however, some may need to learn the traditional way. One in-person seminar costs nearly $800, and that’s just for one aspect of Google Analytics. Although It may sound enticing to pay someone to investigate and analyze your data, learning how to interpret this data yourself will prove far more valuable in the long term.
It is powerful
When we hear Google Analytics, the primary thought is the reading and understanding of data. The GA tool provides this information, however, analytics also provides demographic information such as how old are you, what behaviors do you perform on a website, where do you leave the site, and it even tells where the visitors live. This is only scratching the surface of Google Analytics capabilities.
It can show you at a glance how your site or your ad campaign, search engine activity or other strategies are working so you can make real-time adjustments. Google Analytics provides customizable dashboards you can use to display the data you’re most interested in. Imagine noticing a significant amount of traffic on your page and having zero percent conversion. This can be due to a nonfunctional link on your page or complete purchase button keyed in white on a white background. Whatever the scenario may be, these adjustments can be made at the point of acknowledgment through Google Analytics. GA dashboards are extremely helpful in analyzing our e-commerce traffic and social media engagements as well as other areas that apply to our interest.
One feature that comes highly recommended is goal conversions. Goal conversions measure our business objectives in addition to tracking our registered users. In many instances, we set goals for our business however they are hardly S.M.A.R.T. goals. Google Analytics goal conversion is designed for you to be specific in your goals and assure they are measurable. Google allows you to set 20 goals per profile in the free subscription. Website administrators will appreciate being able to track the site speed, page loading time and all functions that suggest how your server is handling traffic demands. It can also show you information regarding any ads you may have within the Google Display Network. Google AdWords is very helpful when used properly because data can be linked to your profile and provide you with relevant reports.
Entrepreneurs need data to build their business and become successful.
In order to reach that level of success, entrepreneurs also need data. Google Analytics is the leading source of this data. But how do you embrace the magnitude and potential of Google analytics, and digest it so you can take action?
There are a couple of solutions. First, you can invest in yourself. Learn the tool, discover its potential, and implement its power.
This takes time. Alternatively, you can hire someone who has the brainpower, time, and experience to give this data to you. This takes money.
As an entrepreneur, you need data for business growth and to ensure success. Google Analytics is the primary source of data and it costs $0 to access this tool. If you feel that you do not have the bandwidth to take on the task of learning Google Analytics, you always have the option of hiring someone with existing knowledge of the platform and time. Whatever you decide, become familiar with Google Analytics sooner than later, you are missing out on valuable insights that can help optimize your business quickly.