Tracking is the ultimate way to prove the ROI of digital strategy to your business, whether they are users, processes or your technologies. Tracking activities or gathering data analytics is often an afterthought or even forgotten by most businesses, by which time the opportunity to gain valuable data has been lost.
Why is tracking so important?
Insights are critical to making good business decisions and smart gains, rather than following your gut instinct. While feelings have their place, they should be backed up with data. Tracking eliminates risk and prevents unnecessary losses, providing proof of what works and what doesn’t, so you can adapt accordingly. By taking this agile approach, you’ll be on your way to measuring ROI on your tracking.
Tracking lets you break down the business strategy into manageable pieces. Knowledge (in the form of data) is power and can have company-wide benefits. With the right tracking in place, it can inform management, marketing, sales and recruitment on growth opportunities and optimal processes. This informs the optimal business direction and sets benchmark KPIs from the top down.
Tracking is the first step to success
At Lighthouse8, tracking set up is an important part of our onboarding and digitalisation process. There are several ways we focus on tracking:
SEM and SEO
SEM and SEO campaigns are set up in analytics accounts to ensure the KPIs, goals and conversions are tracked and measured correctly. Once search ad campaigns are live, K8 can monitor campaigns, track their performance and make budget adjustments as necessary.
Competitor monitoring tracks the digital activities of competitors and ensures you know who the online competition is. Not only does this make sure your business is positioned correctly, but it also lets you react to fluctuations in market trends and provides data on where you should invest your budgets. K8 gathers publicly available information from a range of sources to do an unbiased analysis of a client’s competitors. By tracking different aspects of competitor activities, K8 can offer actionable insights, for example, how your competitors are spending their SEM budgets.
Conversion Rate Optimisation (CRO)
When it comes to CRO, at Lighthouse8 we look at the various steps in the conversion funnel, from a potential customer’s first engagement with a brand through to the completion of a successful conversion. A/B testing allows you to track and gather data on how a user navigates your website, app or software. It can also demonstrate how they carry out a specific action such as form completions or finalising a purchase. Once testing is complete, the best performing versions should be implemented.
Customer Intelligence Platform
Our Customer Intelligence Platform tracks data and presents it in simple, actionable visuals. This means you don’t need to navigate complex spreadsheets and formulas to identify what your next strategic move should be, bringing you one step closer to meeting your digitalisation KPIs.
Want to know more? Contact Lighthouse8 today for an obligation-free review of your digital activity!