- Data is everywhere, but how you interpret it matters.
- 5 Fold uses multiple data points to create the big picture.
- We share data with our clients through monthly reports.
We live in the age of data. Digital marketers, in particular, have access to an incredible amount of campaign marketing data, facts, and statistics. From Google Analytics to heatmaps, marketers can get closer than ever to understanding end-user needs and wants.
Yet, digital marketers face two interrelated challenges. Data is more accessible and prolific than ever, but the sheer amount of it makes it more difficult to interpret and put to use.
Data does not come with instructions or a preferred interpretation. Different points of data may correlate or conflict with one another.
In other words, it’s up to digital marketers to interpret data and make informed decisions using it. Then, collect more data and repeat the process, until successful outcomes are achieved.
Data matters. How it’s read matters more.
A marketing campaign that features a website, social media campaign, PPC ads, on-site SEO optimization, and more is pulling in a lot of data.
Data is everywhere
Here are just some of the places that are providing data about campaign performance for this type of campaign setup:
- Google Analytics
- Google AdWords
- Heatmaps software
- A/B testing software
- Other tracking mechanisms
In just one of these platforms (Google Analytics), many forms of data are being tracked. Here are just a few of them:
- Unique pageviews
- Average time on page
- Bounce rate
- Exit rate
- Page value
- Site speed
All that data can help marketers make decisions. For example, a page with a high bounce rate indicates that users are getting to the page but not clicking on anything before leaving. In most cases, this means that more interactive elements, buttons, or things that interest users are needed.
But, what if that’s the wrong interpretation of a high bounce rate? For example, users might be navigating to that particular page, finding what they need, and then leaving or calling the company directly. In this scenario, the page is actually relatively effective.
This isn’t simply an academic discussion: very smart marketers have actually actively debated whether high bounce rates are bad and need correction or if they’re actually good.
The answer: it depends. And that illustrates the need to interpret data.