“Growing your business without tracking your marketing performance is like driving with both hands over your eyes.” – Hiten Shah, Co-founder of KISSmetrics
Analytics helps your business determine what is working well, and what needs to be improved. We can always go off of a hunch, but the real power comes when we know the hard data behind our marketing efforts, and can make informed decisions that improve our business over and over.
I’m often surprised by how many things I try that should work, but don’t. This has taught me that moving forward on my assumptions (without validating them with data) can be a huge mistake. Because we track our marketing efforts, we haven’t been fooled when we’ve seen fewer conversions turn into more paying customers (which has happened more than once).
Seasoned entrepreneurs know just how important analytics are in growing your business. Without a serious analytics strategy, you are simply relying on hope and luck to grow your company.
The Lean Startup has become such an influential book that it is often referred to as “The Lean Startup Movement”. While there is certainly more to the book than the following 2-sentence summary, the basic tenants of the book (or movement) are:
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