They all want the hottest equipment.
They all want as much data as they possibly can gather.
However, these companies do not really care about data. It may sound crazy, but listening to me. They want data, but not because of what you think.
They want access to the data so that they can make improvements that matter to their business (such as conversion rates, user retention, revenue, etc.). They feel that having data will make it easier (as their tools would magically do), but they don’t understand that having data is just part of the solution.
The second part is running experiments and is able to track the results from these experiments in its critical matrix. In other words, taking action with your data.
Let’s start this system using a format that may surprise you.
Creating a simple system for tracking strategy and improvement
The best solutions are easy to implement and also easy to maintain. In this case, we can start by using Excel or Google Sheet (my preference) to track our progress on several key metrics.
Retention matrix diffusion sheet
We want to use the concept of “cohorts” for group users / visitors so that we can compare how each group performs in our entire matrix.
You can then run experiments that affect only a specific cohort (such as the A / B test only during the month of July). This is an easy way to see the impact of your changes.
Once you get this setup, we’ll be able to see how visitors from July did in Metric A, Metric B, and Metric C against visitors from August, and really know whether these numbers are up or down. Why did she go
Why not just use your analytics dashboard?
Can. However, there are some good reasons to implement a shareable spreadsheet:
Not everyone has access to your company’s analysis. Having important metrics accessible to your team is important to keep everyone aligned. As a matter of fact, it has been shown to be indispensable for hitting the goals of a large company.
Sometimes you do not want everyone to enter company analytics. Whether it’s to protect sensitive data or prevent someone from tampering with important settings or reports – anyone who has to manage an analytics account knows that a lot of cooks in the kitchen can actually mess things up. Huh.
Habit of collecting data. This seems pointless, the act of actually pulling data and putting it into a spreadsheet forces you to internalize these matrices regularly. This is when valuable insights appear.
Collecting the data you need from Google Analytics and other tools
The data you need will depend on what metrics are important to your business. For example, let’s look at a content marketing strategy, which means that we can get the most data from Google Analytics. Your data can come from Mixpan, Stripe (payment processing), etc.
The Google Analytics dashboard can show you all your metrics in a single page.
Once you know where you will get the data, learn how to simplify this data collection. In the world of Google Analytics, this means creating dashboards or custom reports that only show you the numbers you care about.
E-commerce traffic report
You can also consider creating a custom report that spreads across the dashboard.
One final note on Google Analytics; If you are not sure which metrics or dimensions you need, you can check the Metrics and Dimensions Explorer, which contains a reference to all metrics found inside Google Analytics.
Then you will take this data and add it to your spreadsheet. Ideally, you will be able to update your spreadsheet within a few minutes every week or month. Keep it simple and just focus on getting the data you need.