One of the most popular data collectors is Google Analytics (GA). Despite its popularity, however, there are several inconsistencies which make GA not altogether reliable for businesses. For instance, analytical guesswork often, the data is incomplete or simply insufficient for a business to glean an accurate understanding of it.
In this way, analytics can easily become guesswork(analytical guesswork). You know how many people have clicked on your webpage, but you don’t know exactly how long they stayed there. You know who has bought a product on your website, but you don’t know how long they were looking at another product they didn’t buy on social media.
Guessing your data, however, is not conducive to a successful company – especially if you are a B2B company that relies on solid analytical knowledge to determine the behaviour of your existing client base.
Social media metrics, for instance, can be hugely beneficial when it comes to growth and attaining a solid position amongst your competitors. But how do you take analytical guesswork out of your startup B2B company?
Here Is How analytical guesswork works for Startup B2B Company?
1. Social Listening
The first thing you need to do as a B2B company is finding a social media management platform that can give you the right tools to make the most out of your feeds. This will include tools for social media listening, which is the process of tracking mentions, comments and trends across social media that relate directly – or indirectly – to your own company.
2. Track Your Leads
One of the biggest mistakes that B2B companies make is treating social media like a brand awareness tool. In 2023, it has become far more important than that. Social media – once utilised properly – can now grow the sales funnel and attract a number of qualified leads.
This means that you should be tracking more than likes, comments or shares, which only allows you to guess at the real metrics. Instead, you should be attaining all of the metrics that include the beginning of a customer’s journey – when they first engaged with your content — right through to the end of it – when they made the purchase.
3. Measuring Your Bottom Line With Social Media
Another way to take out the analytical guesswork of your analytics is by actively measuring monetary value from leads that came from social media. A lot of the time, companies working out how to start their business from scratch make the mistake of ignoring exactly where the customer has come from. Even worse, many companies are unaware of exactly who their customers are and who they are not.
For instance, Google Analytics will include a customer in your bounce rate if they have clicked onto your website, investigated, and then transferred to social media to ask more questions and ultimately make a purchase. It is important to know. However, how that customer found your site and, vice versa, it is important to know your leads that are directly from social media.
By reporting on your social media ROI, you can work out all the customers that came from social media and automatically calculate conversions and the ROI value of all of them. Once again, this can be done with an efficient social media management platform that is adept at garnering all the important metrics and data.