Seasoned online markets will know that there is an abundance of options available when it comes to making money online, but it’s important that we are heading in the right direction when it comes to their marketing efforts.
There will be times when some online marketing efforts fail to hit the mark, and while this can be disappointing, it can also be a learning curve that can be corrected moving forward.
However, online marketers need to ensure that they’re keeping track of both successes and failures and use this information when it comes to launching campaigns in the future.
Fortunately, there is no need to invest in costly and complex software, as all you need is some neat Excel tricks and attention-to-detail.
What Metrics Need to be Considered When Using Excel to Analyze Data
To be able to use Excel to analyze data, online marketers will need to know what type of metrics need to be recorded before using Excel to analyze data.
The following is an overview of some of the affiliate metrics that need to be considered when analyzing data in Excel.
• Number of Visits
• Clicks on Ads
This is only a simple overview, and depending on your niche, you may need to add or take away some metrics.
Those that run several marketing campaigns may need to consider the best way to analyze data in Excel for each campaign or platform.
The thought of obtaining data and making sense of it via Excel may seem a little overwhelming to some, but those that make use of tracking platforms and Excel in the right way can find that they’re able to make sense of the information in next to no time.
For the most part, affiliate providers will give online marketers everything they need to know in relation to the different metrics, but it’s important to be aware of correlations when investigating the data.
Correlations can make themselves known in different ways. An example could be data that shows Android offers thin profit margins, whereas further investigation could show that the problems aren’t with the OS itself, but rather a couple of devices connected to the operating system.
Making some amendments ensures that the campaign can be tweaked to yield the best returns.
How to Analyse Data in Excel
When using Excel to analyze data, it’s essential to get an overview of all current campaigns and ascertain which are providing results and which are feeling to hit the mark.
To do this, marketers simply need to compare the revenue generated by a campaign to the costs incurred for each campaign.
Once completed, online marketers need to focus on the campaign that is losing the most money, as this will be causing the biggest deficit in the overall margin.
Obtain More Information on Banner Performance
The first thing that needs to be looked at by online marketers need to look at is the optimization of their banners.
Generally, there should be three banners. Whereas two will be part of an active campaign, one should be in its testing phase.
The banner that’s underperforming would essentially be the test banner and should be stopped in favor of a new test banner.
Review the Performance of Websites
Websites will be often an active part of online marketing campaigns, and some may be using several different websites depending on the product or service they’re advertising.
Again, if websites aren’t yielding the expected results, then a marketing overhaul could be required.
Determining the Different Outcomes of Devices and Operating Systems
As well as being able to give you an idea of what devices and operating systems are considered a success, others may need to be reviewed.
It’s important to acknowledge that in some instances, there can be correlations between operating systems and devices, a good example being Android.
Despite Android being a popular operating system, there could be devices that don’t convert as well as others.
Taking these devices out of the frame ensures that a marketing campaign focused on the Android marketing system is a more successful overall.
Different Ways to Analyse Data in Excel
Now online marketers know what factors need to be considered, the next step is making sense of the information by looking at the different ways to analyze data in Excel.
Despite the more exciting aspect of online marketing, there is also a requirement to crunch the numbers in order to prime campaigns for success.
The use of pivot tables is a great way of carrying a split test as well as A/B testing. Pivot tables in Excel also allow online marketers to contend with columns that could otherwise be assumed cumbersome.
The use of pivot tables also ensures that different sections can be tabbed to easily and helps generate a report of your marketing efforts.
Some of the other ways that data can be analyzed in Excel is as follows:
Ascertain High and Low Volumes Using the Quick Analyse Tab in Excel
One of the most useful Excel tricks is being able to gain an overlook of marketing efforts with a few simple keystrokes.
Cells are highlighted, followed by CTRL+ Q followed. Then the ‘Quick Analysis’ feature is selected.
Create Charts Using the Information Captured on Excel
Another option presented when pressing CTRL & Q is the ‘Charts’ sections, as this allows marketers to create a chart based on the highlighted fields.
Tally Up the Totals Easily with Excel Analysis
The use of the ‘Totals’ tab allows marketers to review their current Sum, Average, and count of your marketing efforts, as well as being able to obtain an overview of the running total.
How to Benefit from Excel Tricks and Shortcuts
As well as being able to gain a snapshot of the current marketing efforts, online marketers can also use the following Excel tricks to navigate their way around an Excel analysis report with ease.
Navigate Excel Data with Ease
The following commands will hope those using Excel to analyze data to easily navigate their report.
• CTRL + PAGE DOWN: Takes the user to the next worksheet.
• CTRL + PAGE UP: Takes the user to the previous worksheet.
This can be an invaluable command for those contending with several marketing campaigns.
Easily Reach the Bottom of Your Excel Spreadsheet
A lot of information could mean getting to the bottom of a report takes longer than it should.
Fortunately, the following commands mean that going from top to bottom of your Excel analysis is never a chore.
More Details with Times and Date Stamps
As well as being able to review data, knowing the times it was captured can be just as important. Another easy-to-remember command allows online marketers to allows add timestamps to different cells.
• CTRL + ; Date Stamp
• CTRL SHIFT + : Time Stamp
Repeat the Last Task When Carrying Out Data Analyse in Excel
Online marketers using Excel to analyze data for the first time could find that the majority of their time is spent on monotonous keystrokes.
Although the following Excel trick can’t be used to repeat every single command when using Excel to analyze data, it will work for the vast majority, which will help with productively greatly.
Simply highlight the field and carry out the relevant command, and then use F4 to repeat this command to several other fields.
Although it may only save the person seconds initially, over time the use of this command can be a great productivity driver.
Compare Different Sets of Data Using VLOOKUP
When using Excel to analyze data, one of the most important aspects will be comparing and connect different data funnels.
The function is used by the person highlighting the relevant field, clicking ‘Formula’ followed by ‘Lookup and Reference’ and finally ‘VLOOKUP.’
The second cell needs to be locked for this function to work.
Easily Convert Text to Columns
An online marketer trying to contend with URLs with unique parameters will find that being able to split parameters from one cell into several different cells.
The text that needs to be converted then the click the ‘Convert to Text’ option on the data ribbon needs to be selected.
The text will then convert to columns instantly, allowing marketers to work with URLs with different parameters easily.
It would be easy to overlook Excel in favor of the latest and greatest platform, and while there are being innovations made in relation to data analysis, it’s always a good idea to ensure a human touch is present.
The use of Excel to analyze data can ensure that online marketers become more familiar with every funnel of their marketing campaigns, as well as learning lots of new commands when looking for new ways to work with Excel.