Let’s face it, every SMB and enterprise is now facing tough competition. New innovations are constantly rolling in and seem ready to take over the world. To continue making strides towards growth, you need to make smart business decisions. But how?
Well, the answer lies in data. Analytics uses endless streams of data to help you make more informed decisions. However, there is a downside. Using or understanding analytics takes an awful lot of time and still not everyone gets it.
Most businesses do not have time to train its workforce on working with complex analytics. Additionally, waiting for analysts to prepare detailed reports slows down the decision-making process. Fortunately, there is a way – Real-time Search Analytics.
What is Real-time Search Analytics?
Here is a fun fact: people use search quite generously. That makes it an invaluable source of scalable search data, pain points, issues, or trends. With the help of real-time search analytics, anyone can tap into this never-ending stream of information and create reports in a jiffy.
Searches are turned into data which is then used to make progressive business decisions. Who knew analyzing data could become such a breezy affair? On top of it, you get a clearer picture of how people are engaging with your business through search.
You can leverage this information to create a rich knowledge base and improve your existing assets, thus adding value to your business amidst increasing competition. Couple that with improved UX owing to stupendous self-help experience and you’ve got yourself a masterpiece!
How to Make the Most of It?
By harnessing the power of real-time search analytics, you can carve out new business opportunities and revenue streams, grow customer base, and enhance the overall customer service. But how?
Bridge Gaps in Content: With over 200 million people using ad blockers today, making sure your message reaches the right eyeballs has become quite a challenge. As far as key decision makers are concerned, 80% of them prefer to know about you through your content, not paid ads.
With real-time analytics, you can instantly track what your target audience is searching for but is not finding any suitable result. This empowers you to understand what content you need, or need not, develop and if it is falling in line with their needs.
Keep an Eye on Click-through Rates (CTR) and Conversions: According to Adobe, automated decision making and personalization leads to a healthy increase of 2.6% to 3.6% in the average conversion rate. A good real-time search solution provides analytics that aids you identify what people search for, show interest in, and engage with, and identify the final step before converting.
You just need to analyze and create content that heavily engages users, thus turning them into your long-term customers.
- Examine Search Patterns & Anticipate Interests: With a powerful search solution in place, you will have all the data related to searches, CTRs, and conversions. This gives you the opportunity to be the trendsetter yourself and align your business strategy as well as content for maximum efficiency.
The Bottom Line
“An organization’s ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.”
– Jack Welch, former chairman and CEO of General Electric
Leveraging analytics is no child’s play; one gets entangled in gathering & integrating different types of data and then generating reports. With real-time search analytics, you can skip this time-consuming process and straightaway jump into actionable insights.
To sum it up, real-time search analytics automates the processing of raw data into meaningful insights. This allows you judiciously spend your time on strategic planning and ensuring higher level of customer satisfaction.