Every entrepreneur’s dream is to build the most successful business; this is fundamental because all businesses want to grow. Let’s quickly examine what business growth is.
Business growth is a phenomenon that occurs when business owners, employees, and outside factors influence the success of a company. For example, a business grows by expanding a customer base, increasing revenue, or producing more products.
Business Growth is when the business reaches the point of expansion and seeks additional options to generate more profit. Business growth helps to win the confidence of society. It creates goodwill and a reputation in the market. An organization with a good image and prestige can easily attract investors, customers, employees, etc. people satisfy their urge for power by increasing the size of their business firm.
There are many ways entrepreneurs can use to know how to grow their businesses, such as; Conducting thorough market research, Checking out international markets, studying their consumers—checking out their competitors—leveraging social evolutions, and Using social media too.
Therefore, this article will run down the Top six Best analytics tools to track your business growth.
Table of Contents
Top 6 Analytics Tools To Track Your Business Growth
Google Analytics is undoubtedly one of the best analytics tools to track your business growth for proper and primary entry-level growth analytics tools. The tool allows you to monitor and track your website traffic to see where visitors are coming from, what they are doing, and when they are leaving your site. It also meshes well with Google Adwords, which helps you learn about, optimize, and track your SEO capabilities.
Google Analytics is a great platform to begin if you find a basic starter version to get your feet wet; a data analysis tool allows you to track the performance of your business. It enables business owners to have a measure of their ROI for advertising. It also helps track data across various mediums like video, Flash, and social networking sites/apps. It’s a simple way to gain a better understanding of your customers.
It also allows you to collect fundamental data from your website; most businesses find the need for more in-depth business growth analytics tools.
It measures the performance of your online store by analyzing the following essential metrics: bounce rate, sessions, best-ranking product pages, target audience, real-time data, products that sold the most in their market, and lots more.
Google Analytics also helps you track other important e-commerce metrics such as conversions, overall sales and revenue, website traffic, sources and medium of traffic, customer shopping behavior, and shopping cart abandonment rate.
With Google Analytics, you can track almost all your website’s activity. Activities like monitoring where your main traffic is coming from. This tool offers goal tracking, Visitor demographics, and Analysis prediction. In addition, your team members and yourself can share the data through the platform.
The main downside of Google Analytics is that you get what you pay for, and with a free plan, you can’t expect a lot of bells and whistles. For example, while the tool gives you excellent customer aggregate data, it doesn’t let you track individual users. Plus, while possible, some functions can be complicated to set up and define.
However, suppose your primary focus is events, conversions, growth, or sales. In that case, Google Analytics will not be enough for you, and businesses should not make the mistake of using only Google Analytics, but you should know that marketing is much more than charts and numbers.
However, Google Analytics is one of the Best marketing analytics tools for your business marketing campaigns. It helps analyze performance through channels such as SEO, Google Ads, social media, etc.
Every website should have an important tool to track its overall performance.
Semrush is also one of the best analytics tools to track your business growth. As one of the Best marketing analytics tools for your business, analyzing the marketing performance of a business online also helps an ecommerce store’s marketing activities to be optimized. Semrush is one of the world’s most popular SEO tools. It has many features that help you write more Google-friendly content, target better keywords, and rank higher.
It is a well-regarded SEO tool since it can help with keyword research, backlink analysis, and website audits to check for various technical SEO concerns.
Its capabilities go beyond SEO; they include tracking your advertising campaigns, competitive analysis, CPC and conversion optimization, social media management, online reputation management, and more.
Being one of the best marketing analytics tools for your business will help you improve your search engine exposure. It will also help you improve in areas such as content marketing, social media marketing, paid adverts, and general marketing techniques.
Semrush can also evaluate how competitors perform and give you chances to stay one step ahead.
Now it’s hard to rank one SEO tool over another legitimately. Talk to one marketer, and they’ll say that Moz is the way to go. Speak with another, and they’ll swear by Ahrefs.
But Frankly, most paid SEO software has advantages and drawbacks. And most marketers have a strong preference for one over the others (usually based on what their mentors taught them). This SEO software includes analytics on things like Backlinks, Keyword tracking, Domain authority, and much more.
It has tons of data to improve your overall content marketing strategy. One of these resources is the content optimization tool. You can input your article, write in the keyword you’re looking for, and get a quantitative score along with helpful suggestions for optimization. It is indeed one of the Best marketing analytics tools for your business.
This application can improve particular e-commerce KPIs, such as website traffic growth, optimization, and campaign effectiveness.
Click here to get a complete course on digital marketing.
Google Search Console
Google Search Console is a collection of growth analytics tools and resources to help website owners, web marketers, and SEOs monitor website performance in the Google search index. For that function, Google Search Console is also one of the best analytics tools to track your business growth.
This included web admins, marketers, designers, SEO experts, programmers, app developers, and more. Many marketers know about (and have played around with) Google Search Console, but many can’t briefly explain it.
Google Analytics gets you data on how your audience engages with your site; Google Search Console can tell you how your site and content perform on the search engine.
This is particularly useful for helping with your site’s technical SEO. It helps get information on search appearance, traffic, technical status updates, crawl data, and additional educational resources.
Google search console helps a lot in getting information about the progress of a business content marketing. Some other valuable uses of Google Search Console are the following;
- To track your website’s SEO performance
- To gain info about your site’s mobile usability
- Google Analytics integration
- Site crawling, so Google can find and index your site
Quite an interesting piece right? So why not get more content like this by subscribing to our newsletter
Sisense is an all-in-one Business Intelligence solution that enables you to do multiple tasks, including data modeling and complex calculations. This means you don’t have to invest in various systems for your Business Intelligence needs. You can also extend the software’s effectiveness by offering built-in connectors and smooth integration with popular third-party applications such as Google Adwords, Excel, Zendesk, and Salesforce.
Sisense is one of the most popular business analyst software tools that incorporate dynamic and robust text analysis functionalities that enable users to transform unstructured text into valuable business intelligence.
The Sisense business growth analytics tools, which feature the proprietary Sisense Crowd Accelerated Business Intelligence, use open-source language for computational statistics. It allows users to analyze and visualize complex data extensively, promoting data-driven decisions and improved forecasting of future trends.
One of the benefits of Sisense is the ability to sort through massive amounts of data and generate actionable insights. However, it needs to ask the right questions about the data being produced to work optimally. The top marketing dashboards offer the flexibility to specify several KPIs (key performance indicators) and other metrics to help with this.
With Sisense’s innovative In-Chip engine, you may ask questions and receive responses right away without having to start again with fresh inquiries. The software’s Single-Stack design enables you to manage all processes, from data integration to visualization, with one business intelligence solution, and you can deploy the tool instantaneously. In addition, the Single-Stack software of the app lowers the total cost of ownership because you won’t need to spend money on data warehouses or visualization software.
Additionally, Sisense’s drag-and-drop interface allows you to do Business Intelligence analyzes effectively. This allows you to handle Business Intelligence internally and avoid spending money on keeping a technical department or hiring consultants.
Narrowing down demographics to identify the correct consumers is a big problem that Sisense can address for marketing professionals. Because they can deliver the correct message to the right audience at the right moment, the most effective strategies and campaigns are effective.
You can easily combine vast data sets with the system’s simple drag-and-drop interface. To interpret data, you can use a range of visualization choices such as charts, plot charts, etc.
Google’s data is broad and robust but anonymous: you can’t trace the behavior to one person and then follow his customer journey. That’s exactly what Kissmetrics does and what makes it particularly relevant for marketers despite the hefty monthly subscription fee. Studies show that 80% of customers will do business with a brand if they get personalized content and offers. So from this point of view, it may be more critical to your business to see a customer as an individual versus the behavior of a large but abstract demographic.
Kissmetrics is one of the best analytics tools to track your business growth, especially when doing consumer research.
You can use Kissmetrics to build acquisition and retention funnels and study how your customers move from one stage to another. You can also track the people you weren’t able to convert (which can initiate campaigns to get them back) and create a custom campaign or “triggers” (like sending messages or call to action) for different groups of people.
You may identify the person behind the data using Kissmetrics. Then, with the help of the tool, you can track a customer’s trip across several devices, examine their behavior, and offer information on conversions.
The conversion metrics include bounce rate and time on site. In addition, Kissmetrics focuses on behavioral analytics – which helps understand how audiences react to your content. You will learn what is valuable to users and how to keep them returning.
Kissmetrics also lets you create A/B tests to see how changes you’re making on your content can affect your results and make sure you choose the proper variations to help you reach your goals.
Statistical Analysis System (SAS)
Statistical Analysis System (SAS) is fully-loaded with a range of business growth analytics tools, simplifying the process of analyzing large data sets in real-time. The top-of-the-line business analytics platform also predicts future trends from the information harvested from big data.
The high-grade text analytics capabilities of the SAS-based business growth analytics tools allow users to inspect and transform unorganized text data into relevant information that analysts can explore to discover meaningful insights.
It is one of the market’s most widely used business growth analytics tools. It is a versatile and robust tool that’s easy to learn for beginners. Despite a few rough patches, SAS has added popular new modules that expand what it is capable of. Some new modules include anti-money laundering, analytics for IoT, and SAS Analytics Pro for Midsize Businesses.
SAS business growth analytics tools may greatly aid this approach because the analytics platform can examine operations to identify problem areas for firms. As a result, they might change their tactics; as a result, to keep up their momentum. With this knowledge, organizations will find it much simpler to make more informed choices supporting development.
SAS is loaded with tools designed to help users analyze and understand collected data to draw inferences better. It can help organizations better understand the nuances of their customer base in ways that are difficult to capture using other means and collect data from different points, and present insights in an easily digestible way. Furthermore, the ideal platform can make analytics more accessible to users and SAS experts.
Organizations can access smarter, more sophisticated planning tools by investing in SAS business growth analytics tools. This will help them in several operations, like marketing or cost optimization.
More from Insight.ng:
- Emmanuel Odebiyi is a seasoned content writer who specializes in writing valuable and engaging content in the technology, career, freelancing, finance, and lifestyle niches. He also writes sales copies that turn visitors into returning customers.
- EntrepreneurJune 5, 2023How to Edit a Video with video editing software in 2023
- SpiceMay 26, 2023Nigeria Soul Food and their Importance to the society (with examples)
- Business InsightsMarch 28, 2023An Introduction to The World of Small And Medium Enterprises in Nigeria
- TechnologyFebruary 4, 2023How to Track a Stolen Phone in Nigeria (For Android Users)