You didn’t hear this from me but…
She’s a real big nerd. This is almost a part two to her type A era. This week was all about analytics, more about that set of rules a.k.a the algorithm, and more KPI stuff. I almost fell asleep. But then I realized she’s helped us so much in understanding content strategy that we know it like the back of our hands! It’s all starting to come together and I think you will feel just as confident reading this one too. Let’s dive in…
How Google Analytics Works
Getting set up with Google Analytics is as easy as 1, 2, 3!… 4 5 6 7 8… ok it’s less intimidating than it looks and at least it’s free. Let’s break it down. First, obviously, make an account. Then create a new analytics property, which is a website or app that data needs to be collected from. You’ll need to give this property some details such as time zone, industry, etc.. Some optional settings and configuration include enhanced measurement and data streams (Josephs, 2023). A data stream is a newly released GA4 feature that essentially means multiple sources of data can be collected from a single property!
Why Analytics Are Important
Nitin highlighted the importance of data cleaning and insuring accurate work is done in order to make SMART goals and accurate budgeting. To insure marketing efforts are maximizing investments made, it is important that the analytic results are accurate. These numbers can affecting financial projections and whether or not the ROI is worth it in the long run or if these funds can be reallocated for more beneficial outcomes. A KPI for this being profit, “metrics that tell you if you’re moving the needle in the right direction” (Goyal, 2023). Setting benchmarks is an easy way to track progress as well. With such an incredible range of metrics to track these can all depend on goals the brand is striving for. This opens up opportunities and pathways to the goals as well. When it comes to measuring ROIs there are 5 things to consider (Neher, 2022):
- Define Your Strategy
- Set KPIs
- Set up those benchmarks
- Establish minimum profitability
- and Build measurement plan… but we already knew all this 😉
These are Sype’s rules to avoid getting lost in the sauce. There’s so much that goes into building a reputable brand and keeping it that way. It’s great knowing we can always fallback on her info if we ever have any questions. Just remember, if anyone asks you didn’t hear this from me.
XOXO,
Bona Fide Barbie
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