Download: MP3 (41.9 MB)

One of the lesser-appreciated but equally important parts of any business is research. Knowing your market, understanding your target audience, and analyzing your current status.

Taking a look at the numbers in any form can feel daunting. The moment you start looking over your site analytics, social media data, or the numbers from last month’s sales, lots of questions begin to spring up.

Knowing how to evaluate the data is a skill that takes time, but it also requires you to disassociate yourself from the numbers themselves, which can also be hard. What do you do when the numbers are less than what you want, or when they aren’t what you had expected?

It’s far too easy to get caught up in the calculations and the math and forget to see the realities of analytics. The “numbers” represent actual people, which is the most important focus.

In this episode, we talk about how we look at the numbers and analytics and how to work on staying objective while studying the data.

Highlights, Takeaways, Quick Wins:
  • Start by determining the goal and target of the metrics you want to analyze.
  • Listen to your customers and audience. If your numbers are high but your target audience isn’t being helped and your goal isn’t being met, there’s a disconnect.
  • Take both the objective data and subjective experience of your customers into account when you are looking at your data.
  • You need to listen to feedback and look at the numbers to understand what’s happening.
  • Know what you want a specific number to be, whether it’s revenue, subscriber count, page views, or any other data point.
  • Having an idea of what you want and leveraging action against it is how you make things happen.
  • Regularly conduct an evaluation of the data you’re collecting based on your actions.
  • If you have the ability, run A/B tests as often as you can to determine what your audience responds to better.