For several years now, there’s been word going round that data is more valuable than oil thanks to the insights that can be extracted from it.
If that’s true, you could be sitting on a goldmine and not even know it. Data, collected responsibly, can hold the key to many a valuable insight and innovation – something the digital marketing professionals at Launch are familiar with. Today, Launch is sharing 5 different data checks you should carry out regularly to make sure your business isn’t just compliant, but capitalising on opportunities.
Stop procrastinating on your data policies
Your data is only good if it’s collected responsibly. Your audience wants to know their information is protected, whether it’s given explicitly through sign-ups, or implicitly through the way they browse your website. You need to describe exactly what you’re tracking, how, and for what duration. You should also be transparent about if you share that data with third parties.
Since GDPR, how companies approach data has been completely shaken up – and you can rest assured that the trend of protecting and prioritising your audience is set to continue. None of this is the most exciting part of data, but it is essential. If not to build trust with your audience, then especially because the Information Commissioner’s Office in the UK has been handing out some hefty fines of late.
Dive into your website analytics
Your website is your audience’s window into your world – so you want to know what they’re looking at. The following is a good place to start when assessing your strengths and weaknesses:
- Where does most of your traffic come from?
- Which channels are your strongest referrers?
- Do you have low-performing product/service pages?
- What percentage of your visitors are reaching key pages, like Contact/Checkout funnels?
- Which are your highest performing pages? What can you learn from them and apply elsewhere?
- Are you tracking key actions, like downloads or form submits? How are they performing?
A quick note on bounce rates: high bounce rates have historically always been demonised. A blog shared to social media or an isolated landing page with a simple sign-up form may naturally have higher bounce rates as visitors come to engage with one specific piece of content before exiting. Context is everything.
Revisit your email subscriber list
Take note of how many of your subscribers open and engage with your emails. If their engagement rate is low, consider removing or archiving them from your list. It sounds counter-intuitive, but doing so has a few benefits.
The main one is that your marketing messages can be much more specific to engaged subscribers – who are then more likely to take actions from your emails. You’ll also have much healthier open and click rates, since you’re not wasting time trying to appeal to everyone, as well as reducing your carbon footprint.
If you’re nervous about removing contacts altogether, segment your list by engagement level and try running new campaigns to reinvigorate contacts. See how you get on and make the call once you’ve got more data.
Whatever you decide, remember, you must have explicit permission to email people on your list.
Double-check your security setups
This one is straightforward. Make sure you’ve got strong passwords in place and processes that support security. For example, changing passwords and removing permissions if someone with access leaves your business, or using a password management tool.
Make full use of two-factor authentication, which is available on most major platforms now. It’ll give you added peace of mind.
Analyse and send regular surveys
Surveys are still one of the best ways to learn what people think of your business – both internally with employees and externally with clients or customers. It can be daunting opening your business up to criticism, but it really is the best way to become aware of how you’re perceived and where you can improve.
Don’t forget, you could also become aware of some real strengths you have over your competitors, so it’s well worth investing the time.
Managing a modern-day business means getting the most out of data in a responsible way, and periodically running these five checks should stand you in good stead for the future. If you need help getting on top of your data, analytics, or paid advertising, get in touch with Launch.
