Most people like to know how many visitors are brought in by our marketing tools and how many of them become actual customers. This is a highly important question since most of the expenses are spent on various marketing actions.
Luckily for us, in the online world we can measure such kind of data which would be unavailable in a physical shop, and after some analyses, we can use these pieces of information to optimize our marketing channels and bring in more profit while spending less.
Figure: The distribution of the efficiency of marketing channels
A lot of different analytics software has the capability to show how profit changes and some can even present these changes separately on various marketing channels. However, proper and clear visualization of data is also essential, since this is a simple way for us to get a clear picture of our shop’s marketing efficiency and performance.
For instance, the above chart shows that even though the profit changed only with a slight margin during the analyzation period, some channels gave a huge improvement while others lost some of their efficiency. This automatically implies that if we could have kept the channels that performed well in the previous, at least on the same level, we could have generated a higher profit. However, to make this possible, we need clear analyses that give us suggestions as to what to do next.
Let’s see an example:
If we are experiencing a similar decrease in traffic coming from search engines shown on the chart, we should not wait for too long. Of course, it is possible that our products started going out of season, so fewer people are looking for them. However, it may also happen that our position got worse on the list of search results.
For instance, our competitor may have started search engine optimization or Google introduced a modification to their algorithm which set back our shop’s position. In any case, it is crucial to realize and react to this fallback as soon as possible even by starting a search engine optimization campaign.
Naturally, no one wants to get stuck at the bottom of the search results, but Conversific does not only help in addressing this fallback, but it also provides ideas for opportunities to grow profits.