Analytics: The Hero of Finding Growth Opportunity

By 2020, trillions of gigabytes of data will have been created at nearly two megabytes per second, per human on Earth. You probably already know you can harness that data for tasks like targeting the right audience in Facebook ads or to improve your customer satisfaction ratings. But with more and more technologies coming out to both capture and aggregate all that data, you can do more than improve your current business strategies. You could use it to steer the ship and grow your business. Let’s take a look at how one department store did exactly that earlier this year.

Kohl’s And The Unsuccessful Search

With giant Amazon blocking out the sun for many online and brick and mortar department stores alike, Kohl’s sales were down in the last few years. What’s a $6 billion dollar company to do? This one looked at the data, specifically how shoppers used their website and why they weren’t attracting the shoppers they wanted.

They honed in on the things shoppers search for and discovered a whopper of an opportunity. Consumer after consumer searched for Under Armour products on the Kohl’s website, only to discover the chain didn’t offer any. On the surface, it was a failed sale. But the folks at Kohl’s looked past that and saw an opportunity. They teamed up with Under Armour.

The Under Armour brand lost considerable market share and availability with the bankruptcy and closing of the Sports Authority chain, which carried its products. So Kohl’s struck up a partnership with the brand of active wear and created a series of video spots to let customers know the moment they’d been waiting for finally arrived.

Kohl’s saw an opportunity to grow and snatched it up.

And guess what? You can do the same.

Big Data On A Small Budget

You don’t have to be a Fortune 500 company to harness the power of data to steer your business to growth and glory. All you need is a little tool from Google called Site Search.

Many small and medium size businesses have relied on Google Site Search to power user inquiries on their sites. It’s the perfect way to offer a search function on your website without investing in a huge coding project. You simply add it to your existing website, either with the “powered by Google” branding or as a white label product, and voila. But did you know Site Search can also help you track those queries to learn what your customers are looking for – and perhaps what you can add to your products?

Site Search has its own section in the Google Analytics dashboard, allowing you to see patterns that help you improve both your site and your business as a whole.

Want to learn more about using Site Search and other analytics to grow your business? Contact cThru Media today to get started with an Assessment Package. We’ll give you the insights you need to steer the ship in just two weeks. The future of your business starts now!

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