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Why Tracking Data Matters to Your Bottom Line

In the ever-evolving digital landscape, data tracking emerges as one of the most powerful tools for website owners. From understanding user behavior, optimizing ad campaigns, or streamlining inventory management, comprehensive data tracking is the key to staying competitive and ensuring long-term success. In fact, over 80% of businesses utilizing their data tracking correctly have experienced increased revenue and sustained growth! But with so much information overload, it can be hard to navigate exactly what you are looking for when it comes to analyzing what the data is telling you. Quartz and Clay is making it easy for you to understand and implement a strategic plan to track your website data.

Let’s start by envisioning your website like a store. In order to get your customers what they want, you need to know what they are looking for and why, if they are using ads to find you, and if your product or service is available to them. This is the basis of data tracking. Let’s explore each one of these analytics in a little more detail.

Why Are Your Customers Here and What Are They Doing?

Sometimes people know what they want, and sometimes they need a little help getting there. Using a tool like Google Analytics allows you to track what your customers do while they are on your website. Did they “click and leave”,  sort through a few pages, make a purchase? Google Analytics also makes it possible to track metrics such as page views, bounce rates, and user demographics, giving businesses a deeper understanding about what your customers are looking for, as well as their preferences. Use this data to optimize your marketing strategy and tailor your website content to improve user experience and create an appealing website.

Are You Running Ads or Are Ads Running You?

Nothing is worse than throwing a bunch of money away with no results. But that’s exactly what you’ll be doing if you don’t take the time to effectively plan and track your ad. Ad tracking tools tell you how many people are clicking on your ads and whether they’re turning into customers.Utilizing platforms like Meta Business Suite and Facebook Ads Manager and Google Ads will provide detailed metrics on ad performance. From here, you can analyze click-through rates, conversion rates, and other key metrics that allow businesses to refine their ad strategies in real-time. This not only maximizes your return on investment but also ensures that ad spend is allocated effectively.

Yes, You Should Be Tracking Inventory

While this may seem like a no-brainer, you’d be surprised at how many companies only restock when shelves are empty. An inventory tracking system, especially for e-commerce websites, helps prevent overstocking while also streamlining order fulfillment. Adding on real-time tracking not only helps your business maintain accurate inventory levels, but can automate a lot of back end processes such as re-orders, creating an efficient and operational website.

Putting It All Together

When you utilize the different tracking tools together, it paints a picture of what your customers see, what they are doing, and if your website or ad is prompting them to make a purchase. For instance, monitoring your analytics will show you the amount of people interacting with a particular product on your website. Using this information, you can create targeted ads, ultimately making your analytics work for you. Adversely, if the data shows people coming to your page and leaving, you will see a high bounce rate, and can use the data to improve your user’s experience. 

Having access to this data matters to your business’ bottom line in a few different ways. It aids in smarter decision making, allowing you to make decisions based on what your customers are saying, instead of “vibes”. Create a cost-efficient business utilizing targeted ads based on what your data is telling you, reducing unnecessary expenses and ad overspending. Ensure the happiness of your customers with enhanced user-friendly interfaces, increasing your chances of repeat customers. And you keep your competitive by adapting to what the analytics are telling you the customer wants. 

Data tracking is not about understanding complicated algorithms or codes. It’s simply understanding your customers and using this information to create ads and marketing strategies that cater to them. Keeping track of your inventory keeps your store visually appealing and well-organized, ultimately making your back office work for you. When you embrace the power of data, you not only reap the rewards of increased revenue and sustained growth, but enhanced customer loyalty. If you need assistance setting up data tracking for your business, schedule a consultation with Quartz and Clay.

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