10 Benefits of Partnering with an Analytics Agency
In today’s data-driven business landscape, companies that can effectively leverage their data have a significant advantage over those that cannot. Yet, many businesses still struggle to extract meaningful insights from their data, and lack the expertise and resources to do so effectively. That’s where partnering with an analytics agency can provide tremendous value.
In fact, recent surveys reveal that data and analytics are the most significant skills gap in marketing departments, with more than one-third of businesses reporting this as an area for improvement. With the sunsetting of Universal Analytics and the takeover of GA4, the focus on data and analytics in marketing teams has only heightened in recent months. Is this already on your radar?
Fret not! With an excellent analytics team of our own, Semetrical happens to know a thing or two about how an analytics agency can help you – whether that’s setting up GA4 or providing GA consulting services. Let’s explore the benefits of partnering with an analytics agency in more detail….
What’s in this article?
- What is an analytics agency?
- Why is analytics important in digital marketing?
- What types of results can you expect from working with an analytics agency?
- How much does it cost to hire an analytics agency?
- 10 Reasons to hire an analytics agency
What is an analytics agency?
An analytics agency is a company that specialises in providing data analytics services to other businesses in order to help them leverage the power of their web data. This involves collecting, analysing, and interpreting data to provide valuable insights and inform decision-making. They offer a variety of services, such as data strategy development, dashboard creation, data integrations, and predictions.
Why is analytics important in digital marketing?
Analytics is critical to the success of digital marketing because it provides the insights required to make informed decisions that drive your strategies. Here are some of the main reasons why analytics is key to meeting your marketing KPIs:
- Track marketing performance
- Identify opportunities for growth
- Optimise marketing spend
- Understand consumer behaviour
- Gain a competitive edge
1. Track marketing performance
Analytics enables you to track the performance of marketing campaigns in real time and monitor key metrics to identify what’s working well and where strategies need to be adjusted.
2. Identify opportunities for growth
Data analysis can help you identify new opportunities for growth and optimisation through a better understanding of customer behaviour and demographics. Actionable insights into customer needs and pain points can drive your strategies forward.
3. Optimise marketing spend
Gaining a clear view of your data allows you to optimise marketing spend by identifying the channels and campaigns that deliver the best return on investment, helping you limit wasted spend.
4. Understand consumer behaviour
With a better picture of customer behaviour and interests, you are able to create more targeted and relevant campaigns that resonate with your audience and achieve improved results. This can be through improved customer segmentation, buyer persona creation, or hyper-relevant ad targeting, for instance.
5. Gain a competitive edge
Monitoring industry trends and identifying emerging opportunities enables your business to stay agile and responsive to changing market conditions, which allows you to surpass your competition.
What types of results can you expect from working with an analytics agency?
Hiring a web analytics agency to help you in a number of ways, including:
- Increased website traffic
- Improved conversion rates
- Enhanced user experience
- Refined targeting and personalisation
- Data-driven decision-making
Read more about how we helped property portal OnTheMarket make smarter decisions through reporting and attract over 24 million visitors within 4 years.
Find out how we helped pet supply retailer Pooch & Mutt create an eCommerce data warehouse in BigQuery.
How much does it cost to hire an analytics agency?
The cost of hiring an analytics agency will depend greatly on several factors, predominantly the scope, complexity and duration of the project. Most agencies will offer both project-based pricing where you pay a fixed cost for a defined project and monthly retainers, where you pay a fixed monthly fee in exchange for ongoing access to analytics services.
If you’re interested in getting a quote for analytics support, get in touch with our team.
10 Reasons to hire an analytics agency
Hiring an analytics agency can help you in the following ways…
- Years of experience and expertise
- Data-driven decision-making
- Boost efficiency
- Access to advanced technology
- Benefit from cost-effective solutions
- Scale at will
- Gain unbiased perspectives
- Experience customisable services
- Achieve improved business performance
- Gain a competitive advantage
1. Years of experience and expertise
Partnering with an analytics agency means benefitting from years of experience and expertise, without the need to hire an internal team or provide your existing staff with training. Working as an extension of your team, an analytics agency is able to offer you expert guidance and tailored services to help you reach your goals.
Analytics professionals with years of experience in the industry have a deep understanding of all aspects of analytics, from statistical analysis to data extraction techniques. This way, agencies can deliver a service that covers all bases, such as data visualisation, website tracking, and more.
Agencies also often invest in ongoing training and development programmes for their teams to ensure their staff remain up-to-date with the latest advancements in data analytics, tools, and technologies. This means you can trust you are getting the best service and stay ahead of the curve!
2. Data-driven decision-making
An analytics agency enables you to make data-driven decisions by providing you with the insights and information you need to make informed choices based on data analysis. They will work with you to identify your business and marketing objectives, and the data sources you can leverage to help you achieve your goals. Next, they will collect, clean, and analyse your data to provide you with a comprehensive picture of your performance, strengths and weaknesses, and opportunities.
Using data visualisation, analytics agencies can help you present this information in a digestible format that is easy to interpret, which means it can be shared and understood company-wide. Presenting the data in this way allows you to identify trends, patterns, and potential issues that may be impacting business performance. With this information, you can then go about addressing the issue at hand.
Predictive data modelling services are also useful for forecasting and anticipating future trends, and using this to influence strategic decisions. All of this can also help get tricky stakeholders on board with your marketing proposals by providing them with clear, data-driven insights and visualising potential success.
3. Boost efficiency
Choosing to outsource analytics support can be one of the best decisions you make for your business’s efficiency. Aside from the expert services and data-driven insights, you’ll also gain back valuable time. Data analytics can be a time-consuming process that requires ongoing maintenance, which means leaving this in the hands of the experts will allow you to free up your team’s time for other core business activities.
4. Access to advanced technology
In order to leverage your data to the fullest, you will require a hefty tool stack! Luckily, analytics agencies are equipped with advanced data analytics tools and software, as well as the know-how to use this technology effectively. Investing in the latest tools can also be expensive, as can training your staff to actually use these tools properly. At Semetrical we have a range of in-house built tools, as well as access to some of the top platforms in the industry, including Adverity, Neurons and Stitch..
For example, with the sunsetting of Universal Analytics, you’ll need a team of experts to help you navigate the transition to Google’s new tool – GA4. Learn more about making the switch to GA4.
5. Benefit from cost-effective solutions
Outsourcing analytics to an agency can be more cost-effective than building an in-house team, since you will not need to invest in hiring and training staff, or buying equipment and software. Likewise, partnering with an analytics agency can work out more cost-effective than hiring freelancers. Not to mention, you will experience a much better quality of service and build a long-standing relationship. This means you’ll be working with a team of professionals who understand your business inside and out, and cater to your preferred working style.
6. Scale at will
You may have big ideas for success but lack the in-house resources to achieve your goals. We’ve all been there! Working with an agency enables you to scale your services at will, adjusting scope based on your business needs and marketing budgets. Whether you require ongoing support at various levels or on-off project assistance on an ad-hoc basis, an analytics agency has got you covered.
7. Gain unbiased perspectives
Unlike an internal team, an analytics agency can provide you with unbiased perspectives by analysing data objectively, without preconceived biases or assumptions. This can help you take out all the guesswork and ensure your decisions are not skewed by opinion.
Unbiased perspectives are useful since they provide a fresh view, often identifying areas that may be overlooked or not immediately apparent to internal stakeholders. As a result, this could help you identify areas for improvement or even avoid costly mistakes. For example, an analytics agency could identify where a business is spending too much money or not allocating resources effectively.
8. Experience customisable services
An analytics agency understands that a one-size-fits-all approach never works. They will take the time to identify your unique goals, find the most suitable data sources and tools, provide tailored visualisations, and ongoing support.
9. Achieve improved business performance
A combination of these benefits will ultimately have a positive impact on your bottom line and support improved business performance. From analytics expertise and scalability to accessing leading tools and fresh perspectives, an analytics agency could be just the thing your business needs to move the needle and see the results you desire – whether that’s improved website traffic, conversions or sales!
10. Gain a competitive advantage
In a competitive market, it’s imperative that you remain one step ahead of competitors at all times. An analytics agency can help you gain this competitive advantage by providing you with exclusive insights and predictive data that will supercharge your marketing efforts.
It’s all about being proactive rather than reactive, and this is how you will stay ahead of the competition!
Are you interested in learning more about how an analytics agency can help you unlock your data’s full potential? Check out our web analytics services or get in touch for more information.
