Data Is Like Oil In Your Business – Useless Until You Mine It
- August 28, 2018
Running an ecommerce business, one of the biggest challenges is being clear enough on “the numbers”. You have all these data inputs across email campaigns, Facebook, AdWords, content marketing links, and more, and each of these channels come with their own tracking and metrics.
You would think that having access to so much information would be liberating. But in fact, from the business owners and marketers we’ve talked to, it’s quite the opposite. It feels more like your handcuffed and shackled by your own numbers.
There’s a TON of data at your fingertips, but it’s confusing to know what to trust, what to track, and what to turn into action.
It’s like throwing darts in the dark.
Here’s the issue: data is useless if you can’t do anything with it.
It’s akin to oil in the ground – a raw material. It sits there. There’s lots of it. But it’s meaningless on its own.
That’s why we call it data mining.
The only way to make use of that raw material is to mine it. Refine your “oil” and make informed decisions about your company.
That’s how you turn data into insight. And as a marketer or business owner, this insight is crucial because in order to grow the business, you need to know what’s working NOW.
Ultimately, you have three choices with your ad spend: Scale it, Chill it, or Kill it.
That means you need to know the right metrics. Your data should work for you, not the other way around.
Amidst all your data sets, what if you had a set of metrics that actually helped you…
That showed you exactly what’s working and what’s not…
That indicated if you should scale, chill or kill a campaign…
After analyzing over $1.5 billion in sales data, we’ve determined The Golden 4 formulas to grow your ecommerce company.
Want to know what they are, how to calculate them, and why they help your business?
“I started my ecommerce business out of my condo in 2011 and struggled for years to generate any traction from advertising. I could never tell what was working and what wasn’t. But everything changed once I got Wicked Reports installed in my business. Now I make decisions based on data instead of hunches. Wicked Reports allowed us to grow our business to $4 million with only 4 employees! And in the last 90 days, we’ve made over $200k from spending $30k on Facebook ads alone. Wicked Reports helps us increase our conversion rates, lower acquisition cost and double the ROI on our online marketing efforts!”
“Because of Wicked Reports we were able to cut spend in half for re-engagement and doubled customer acquisition and it was super profitable. Most effective month ever! ”
“Since we started using Wicked Reports, we’ve gotten much deeper insight into how our many marketing campaigns are performing, all the way down to ROI on each campaign and ad. Wicked Reports saves us both time and money, and we’re happy to recommend them and their team to anyone that’s spending money on digital advertising. It's a game changer for any serious small business. ”