Small or large business, it makes no difference. The business principles are the same. No matter what your company is offering, products or services, at the end of the day, you are relying on metrics such as Total Revenue, Volume, $Margin, %Margin, Breakeven, ACV, PCV, BDI, CDI, Market Share and so on so forth.
You can better understand metrics
You don’t need a business school to understand that lowering your expenses will make the margin increase, however, there’s more to metrics than meets the eye. A high contribution margin is not easy to obtain. You often hear business owners complaining about the contribution margin being too low. The lower the costs, the higher the contribution margin becomes. That said, what can a business do to maximize the contribution margin? Analytics knows. Besides other aspects of running a business, a company needs to know the real industry sales taking place in the market. Marketing Analytics deals with all these and whoever is a pro in analytics, sure has a jump start.
You learn data visualization
Gone are the days of sending Excel files back and forth. Marketing Analytics has a secret tool called Tableau. This highly-intelligent software brings your information to life compared to Excel spreadsheets. Excel allows you to do some line charts or graphics, you can maybe create a dashboard but you need a special set of skills and be pretty good at development. With Tableau, it’s almost like drag-and-drop. It’s intuitive, it’s an amazing tool. Whoever knows how to use it, it will be worlds ahead.
Google Ads becomes your advertising tool
Google Analytics helps you make better decisions based on real data. The metrics confirm if an advertising campaign pays off, where should you spend more money on advertising and even determine what type of content you should use to be successful in your endeavor. The number of marketing tools is continuously growing. However, Google Analytics is keeping its position as one of the most powerful, accessible and free tools. It can help marketers track more than 200 metrics that cover the entire marketing funnel to help them understand the result of their marketing efforts. If you don’t have the Google certifications yet, the time is now!