Closed Loop Analytics Setup
Discover Your Most Effective Marketing Channels and Increase Revenue
Do you ever wonder which of your marketing is actually delivering results and which are duds? Do you wonder what path your customers took to close? Are you looking for a way to make more data-driven decisions in your company?
Closed-loop analytics provides valuable insight into the entire customer lifecycle - from the time they first interact with you, to the time they become a customer. It helps to align Sales and Marketing because you can actually see which activities are yielding new customers - "closing the loop" on your marketing efforts.
The easiest way to close the loop is to make your website the central hub of all of your marketing activities. Organics search, social media marketing, email marketing, referral links, paid search, and even offline campaigns should get filtered through your website. Once someone visits your website you can put a cookie on them and start tracking all of their activity.
Most web analytics systems will allow you to track sources of traffic like search terms or referring website, but you'll need to go one step further and make sure that the system you're using is matching up anonymous visitor activity with their lead information once they fill out a form. Otherwise you end up with two separate databases - one with anonymous visitor history and one with lead information. When that happens you can't connect those leads back to their respective marketing source.
With closed-loop analytics in place your marketing begins to rely more on data and insights from reporting than gut instinct and "what you've always done." To be an effective marketer, you need to be able to tie every single lead, customer, and dollar back to the marketing initiative that created them. This is how marketers can prove their worth and understand how to more efficiently reach their audience.
Interested in learning more about closed-loop analytics?
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