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Do you use analytics in your business? Let me guess. Tools like Google Analytics or Firebase are in your daily took stack. While these solutions—known as batched analytics—are beneficial; they have limitations, some marketers aren’t unaware.
Firstly, you have to wait for analytics to be compiled. This lag is precious time you could be taking action to grow your business. Secondly, it keeps everyone else on the line. Team members and clients have to wait around with you. And, you won’t be able to jump on new opportunities as fast.
You’re probably thinking, “Well, is there a better way?” and there it is. It’s called real-time data. Here’s why you need to consider adopting it.
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You can take action now, not tomorrow
Business is fast. And, as a marketer, you need to be just as quick. Live data gives you insight into what’s happening right now within your business. That means marketing campaigns, security, and spending can all be monitored in real-time. Tweaks and fixes can be performed on the fly as you notice opportunities or bugs, as well.
Legendary entrepreneur https://www.linkedin.com/in/garyvaynerchuk/ said it best when he stated:
“On your day-to-day, you have to be fast. You have to be quick with your clients. They email you, you email them back … your day-to-day has to be predicated on the thesis of SPEED.”
And, in the case of an emergency or one-in-a-lifetime opportunity, you can strike like a tiger. This security could be the difference between saving an ad campaign from drastically overspending—or sending out a highly personalized offer when customer activity is peaking.
It keeps clients happy
If a client is paying you with their hard-earned money, what do you think they want? Consistency, transparency, and results are a few things to name.
Furthermore, since improving customer experience was voted as the most exciting business opportunity of 2020 in a report by Econsultancy, you may want to bump it up on your priority list.
Unfortunately, however, traditional analytics often doesn’t contribute to keeping customers satisfied.
On the flip side, real-time analytics gives your clients clear ROI, performance, and data whenever it’s requested. This has the potential to make them more comfortable with any given project and working with your company, not to mention fewer migraines!
Keep tabs on competitors
You can learn a lot from your competitors. Unless you’re the Apple of your industry, they will be executing strategies you aren’t and ahead in some form. Wouldn’t it be nice to know at any given time what they’re doing? This clarity is possible with real-time data.
Live analytics solutions are capable of monitoring any website, social account, or other assets of competitors. It will alert you of things such as:
- When a new piece of content is published.
- SEO keyword ranking improvements.
- Social media posts.
- New PPC ads.
- Etc.
These features allow companies to rapidly analyze the competition to find ways to improve their campaigns and hit the finish line first.
Final thoughts
Traditional analytics is a thing of the past. It would be best if you took action today, not tomorrow. That’s why marketers should significantly consider adding real-time analytics to their tool stack.
I mean, who doesn’t want more in-depth insights, a competitive advantage, and better relationships with their customers? All of these are benefits properly using live analytics.
That’s why you should Try Morphio For Free! Our marketing security software gives you real-time insights into how you and competitor’s businesses are performing.
