Analytics is an important consideration for any online casino. It’s something that all big brands invest a lot of money into and something that gets bigger, better, and more important with each passing year.
But what does analytics mean to a small and emerging brand? How can your new business benefit from the incorporation of analytics, and should you even bother with them at all?
Those are the questions answered in this guide. It contains a 60-minute video led by analytical expert Avinash Kaushik, along with a 5,000+ word guide that delves deep into every tip, trick, and strategy.
If you’re desperately looking for ways to benefit from the use of analytics, it’s an unmissable guide. If you only have a few minutes to spare, here’s a quick summary:
- Web Analytics vs Customer Analytics vs Product Analytics: Not sure how these three things differ? It’s actually quite simple, and it’s also very important. Product analytics is all about sales, referrals, and everything else that relates to the sale of your products. Web analytics is about customer acquisitions and is often what people picture when they think about analytics. As for customer analytics, it refers to customer retention and lifetime value.
- KPIs vs Metrics: A KPI can be a metric, but a metric isn’t always a KPI. Confused? Again, it’s quite simple. A metric is simply a number, something that tracks customers, products, or activity. A KPI, on the other hand, is an important metric that is tied to your bottom line.
- Useless Metrics: CPM is one of the most overused and useless metrics in the marketing industry. Platforms like to quote big CPMs because they know that they will attract the big bucks. But it doesn’t really mean anything. You could have a million impressions and no sales because those impressions are served to untargeted people who are seeing millions of ads each day.
- Quality Metrics: Forget about CPM and focus more on CPA or CAC, both of which track the cost of an acquisition as opposed to the value of a thousand impressions. These metrics will tell you much more about your marketing campaigns and your business in general.
- The Most Important Metric: LTV or “lifetime value” is the most important metric of all. It tells you how much a customer is worth over their lifetime, which means that you consider the profit from every repeat sale. The higher the lifetime value is, the lower your overall acquisition rates will be. If someone costs you $100 to acquire and they spend only $50, it’ll seem like a loss, but if they return to spend another $200, it’ll push you into the black. That’s the power of this metric.
This is just the tip of a substantial analytics iceberg. There are many more useful titbits to discover. So, keep reading to discover how a few changes can help your business. And make sure you read to the end, where you’ll discover Kaushik’s most valuable insight, one that could generate over $100,000 in revenue for your business.
Trust me, you don’t want to miss this one!
Big data, machine learning, analytics, artificial intelligence—these are the buzzwords of the 21st century, but they’re much more than passing trends. The way we see, process, and use data is shaping the modern world right before our eyes and if you want your business to succeed, you need to jump on the bandwagon.
That doesn’t mean you need to get yourself a degree in statistics and crunch terabytes of data in your spare time. It means you need to find a way to make things like customer analytics, product analytics, and machine learning work for your business.
And when it comes to artificial intelligence, analytics, and the way they interact with marketing and e-commerce, no one is better placed than Avinash Kaushik.
I was delighted to have Avinash on This Week With Sabir. He is a guru in the field of analytics and has many helpful insights that can benefit growing businesses.
You can see my full interview with Avinash Kaushik in the embedded video above.
Check out the $100,000 Expert Insights – Part 2: Think Smart Move Fast with Analytics – Guest Avinash Kaushik