WASHINGTON, Jan. 21, 2016 /PRNewswire-USNewswire/ -- SCORE, – www.score.org – the nation's largest network of volunteer expert business mentors, has gathered statistics on how small businesses are utilizing marketing analytics to track business growth and identify opportunities for improvement.
Why Small Businesses Are Using Marketing Analytics
Small businesses that use marketing analytics show increased profits and marketing ROI. Their top three priorities include:
- 73%: to find new customers
- 67%: to retain existing customers
- 65%: to improve the current customer experience
Most Commonly Used Analytics and Metrics
51% of small businesses believe that analytics are critical, and utilize the following types of analytics:
- 83%: email marketing reports
- 64%: website analytics
- 52%: social media analytics
Marketers are most commonly using the following metrics to track and measure the efficacy of their marketing efforts:
- 52%: email clicks, response and conversion rates
- 51%: website page views, time on site/page and registrations
- 42%: volume, quality and origin of web traffic
Failure to Track
Only 45% of small businesses track marketing analytics, with business owners who do not track them citing the following reasons:
- 42%: time restraints
- 28%: lack of knowledge
- 22%: prohibitive costs
Download this month's SCORE infographic for more detailed information on small business owners' usage of marketing analytics and metrics.
Since 1964, SCORE has helped more than 10 million aspiring entrepreneurs. Each year, SCORE's 11,000+ volunteer business experts provide free and low-cost small business mentoring, workshops and education to 500,000+ clients in more than 300 chapters. In 2014, SCORE volunteers provided 1.2+ million hours to help create more than 45,000 jobs and 55,000 small businesses.
For more information about starting or operating a small business, call 1-800-634-0245 for the SCORE chapter nearest you. Visit SCORE at www.score.org. Connect with SCORE at www.facebook.com/SCOREMentors and www.twitter.com/SCOREMentors.
SOURCE SCORE Association