09 Jul 2022
Power Of Digital Marketing To Grow Your Business From Scratch | Ekeeda
Works at Ekeeda
Did you ever wonder how to measure the market and grow your business? In this blog, we will throw light on some distinguishable terminologies – marketing analytics and data science for customer acquisition, business expansion, etc. But before that, let us present you with a real-life case study.
Akshay started a gaming center, which is not a common thing these days, mostly in this Digital era where people are hardly interested in visiting centers. Initially, he wanted to raise funds to provide better facilities in the center. So, he charged ₹200 per head for 4-5 hours. Also, he offered complimentary soft drinks to stay engaged and create a buzz about the arcade. However, after 6-8 months, he realized that profits are not sufficient for business expansion. It was quite evident that random planning didn’t help him achieve the desired result.
What Needs To Be Done?
So, taking a step ahead he designed a website to market his product. He did market research to find the design of popular websites and thus created one that was quite trending and had lots of captivating sections—an interesting and engaging gaming site with a lot of VFX and graphics. Later, he shared the site on various social media platforms like Facebook, YouTube, LinkedIn, Twitter, etc. created a YouTube channel for customer engagement and branding. There was a significant improvement in the business; however, it wasn’t good enough.
Akshay even started paid ads. He designed a knowledge station where users could provide details to get information about games and provide any opinion or information on any specific outdoor game, its history, and popularity. This helped him collect details and notify customers of varied offers and understand customers’ tastes with respect to the games. He got suggestions and optimized the website with necessary keywords that added value to the content, and helped increase the Google rank. Well! This is ‘Search Engine Optimization (SEO) & Social Media Marketing (SMM)’. In spite of all these efforts, people were still not visiting the game center. He wondered, ‘What went wrong? What else needs to be done? and many other questions that made him reluctant and slightly worried.
How Akshay Came Up With Possible Solutions?
Akshay started realizing the importance of growing data and he figured that he could explore different varieties of details via – visitors, likes or dislikes, etc. to help him make key business decisions. It was not limited to financial analysis but also assisted in analyzing the role of customer preferences, geography & demographic, etc. He analyzed the visitors’ data, including their age groups, category of games they were interested in, the number of times played, playing duration, total time spent in the center, etc.
With the help of data science and marketing analytics, he could monitor website traffic, and consider metrics such as landing pages, average time spent on page, user interactivity and navigations on different sections of the site. Once he came to know here and how people were showing an interest, he worked on the content part of the pages that were less likely.
He found customer engagement on-site through various channels affects the website’s popularity to great extent. Akshay soon realized the marketing source was working for his business – by source or channel analysis that redirected the users to his website and via the device. He prepared a dashboard and used power BI & Google Data Studio to visualize the quantitative data related to website performance. SEO and SEM, potential reach, helped him figure out the root cause of slow and stagnant growth & critical areas of improvement.
How Data Played A Key Role In Increasing Business?
Akshay conducted business analytics activities like Descriptive Analysis, Predictive Analysis, and Prescriptive Analytics. Firstly, he tracked Key Performance Indicators to understand the present condition of his gaming center. It is part of Descriptive Analysis. Secondly, he applied statistical algorithms to historical data to make a prediction about the future performance of his gaming center. Over here, he used advanced data science marketing analytics techniques such as cluster analysis to group customers based on similarities across various data points. Akshay created a predictive model & analyzed the trend data to assess the likelihood of future outcomes with the help of the Alteryx tool.
He even tried to relate the type of games each group would play. These findings helped him estimate the profit and make various assumptions for future performance. And thus, within 2-3 years he expected a profit to rise by 65%. This is predictive analysis. Finally, he applied the concept of prescriptive analytics wherein it uses past performance to generate recommendations on how to handle similar situations in near future.
These factors helped Akshay predict future performance & improve his business. Later, he was able to expand his business through sponsorship, install electronic hoarding, collaborate with hotels, and concert partners, along with some discounts for an exuberant gaming experience!
On An Ending Note –
We hope you have a clear picture on how to make efficient use of data science in digital marketing. Also, you may be able to inter-relationship between data analytics and marketing for digital businesses. Businesses can make a major shift in the way; after the recent advances in both marketing analytics & data science. You can handle the critical business situation by sprinkling the data science knowledge on market analysis to the heights of success & prosperity.
Cheers. All the best!!!
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