Online businesses, or businesses that have websites, generally use some sort of tool to track analytics, but most of the time these businesses haven’t maximized the potential of web analytics. Analytics aren’t just to see how many people have visited your site. Companies must delve into the world of analytics and utilize all of the benefits that come from properly deciphering an analytics report in order to decrease bounce rates and increase sales.
According to Digital Marketing, book 2 of the SMstudy Guide®, a basic definition for analytics, is “to evaluate and better understand the value and impact of available digital channels and digital marketing activities. Web analytics involves the collection, measurement, analysis, and reporting of web data for the purposes of understanding and optimizing web usage. Analyzing such data helps a company to assess and improve the effectiveness of its website.”
You can use analytics reports to track web traffic in order to determine where and how to invest marketing time and dollars. Ask yourself, "Is your traffic coming from other websites (referrals), social media or search engines (paid/organic)?" says Mike Wolfe, CEO of WAM Enterprises, a digital marketing agency. "Knowing where traffic comes from can help you understand where to invest more time and money to increase traffic."
You can also view a visitor’s location; information that can help to build a campaign to target a specific audience. This information is helpful to determine specific geographical regions that are not showing interest in your website. A marketing team can then generate a plan to create interest in those regions. Discounts, special deals, and incentives are great ways to increase engagement and reach disengaged target areas.
It is important to know where people enter your site and where they leave it. The analytics report will show what keywords people used and the search engine that led them to your website. The report also shows how long the person was on your website and what page they exited from. This can be helpful to determine which pages are causing people to lose interest. Once this information is found, a company can update the pages to be more engaging and interesting. The report also includes where the customers go when they leave a website, so you can see what competitors are taking your business and why.
As stated in Digital Marketing, “Web analytics also enables a company to assess the effectiveness of specific mobile marketing campaigns and channels, including mobile advertising, mobile search marketing, and traditional desktop channels, and identify those that appeal to the target audience and work best for the business.”
With the help of web analytics companies can create a website that fits the consumer’s needs in order to maximize reach, reputation, and relationship with their potential or current customers.
For more resources and information visit www.SMstudy.com.
[Stephanie Vezilj, SMstudy staff writer, contributed to this article]