How to Incorporate Data into Your Company's Routine
When you come across companies that incorporate data in their weekly routines, you can really see the difference in performance.
Merchants that are in the habit of analyzing data, getting insights from their analytics and putting these insights into action are the ones who become the most successful.
Making data analytics a habit is simple. Whether you’re a solo entrepreneur or part of a team, all you need to do is implement weekly check-ups, in the following way:
Successful companies focus on solving their biggest bottlenecks first. Start every week by opening your analytics and taking a clear view of what should your priorities be for the coming days.
By understanding, for example, that your Average Page Load Time is high in comparison to your peers (or your previous week), and that page load time directly impacts conversions, you’ll know that its reduction should be a top priority for you. Consider optimizing your store’s images.
If you’re using Compass, set it for Report mode, then select Weekly Report to see your improvement from last week. The color coding system will make it simple to identify the main metrics you should be focusing on. Green means your numbers are above average, yellow means you’re just about average and red means this area needs work.
As you can see in the example above, conversion rates are a big problem for this store. They should be focusing their efforts in optimizing their landing pages, store experience and sales funnel to improve their conversion numbers and sell more.
You can also simply keep track your metrics in a spreadsheet or a whiteboard. The important thing here is to prioritize what’s important to work on this week. You need to understand if you’re improving your numbers over time, always comparing your data with the previous week.
Once you found out what your biggest problems are, brainstorm ideas that can positively impact the red metrics in your dashboard. Put these ideas into action and follow the same check-up next week to verify if your numbers have improved. Repeat this process every week until all your metrics are green.
That’s it. When you’re fluent in analytics and incorporate data into the decision-making process of your company, nothing can stop you.