What Are They and How Can They Help Your Business?
Finding the right digital marketing strategy for your business is essential for overall success, but part of digital marketing is knowing how effective each piece of your marketing strategy is. The biggest companies in the world have an excellent grasp of digital marketing. Still, they also understand an important entity that some business owners have not found as of yet. It is called website analytics, and it is an amazing tool for websites and the businesses that correspond with them.
What is Website Analytics
At its most watered-down state, website analytics is a tool used by website owners to understand website traffic, including how many visitors visited the site, which pages they utilized, and the overall duration spent on the site. However, website analytics is more than just monitoring the comings and goings of your site. When used correctly, it can allow you insight into effectively growing your business based on collected data.
Monitor Marketing Funnels
Website Analytics is the best way to monitor your business, but it can also be a tool to determine marketing strategy through specific marketing funnels. Believe it or not, your website users follow a general pattern when utilizing the site. Analytics makes it possible to see and market these patterns effectively. Marketing funnels are created through users' habits, and analytics allows you to seek out the patterns. By knowing the patterns, you can effectively market to your clientele by offering specialized promotions to them.
Curve Bounce Rate
We have all done it. You visit a site and view the first page, but do not venture to any other part of the website. This action causes an increase in the site’s bounce rate, and if you are honest with yourself, your site has experienced a high bounce rate at least once in its lifetime. Not all bounces are bad, however. A customer who visits the site is not what they were looking for, so immediately leave is a bad bounce. Still, if someone finds a helpful hint or information on a blog post you have written, they will retain information about your company, ultimately coming back for more. The second bounce is considered a good one. They did not purchase anything at that moment but will likely continue to access your site in the future.
The average company's bounce rate is anywhere from 50% to 70% depending on the business's type and size. Using bounce rates within website analytics takes time, but noting these rates on each page on your site can be a huge help in determining what works and what may not be as effective. Take note of attributes such as videos, blogs, and images meant to help boost your site. Some will be more effective and therefore have lower bounce rates than others.
Off-Site Tracking
A business owner might think that their only avenue for reaching customers is online. Still, they forget that businesses produce brochures, business cards, flyers, produce radio and television ads, along a whole host of other off-site attributes. These tools, although they are not online, are still an important part of marketing. Website Analytics can help you keep track of these avenues as well. You might include a unique URL or QR code on these materials. Customers can access more information through these avenues. You can ensure that more usable information about spending habits and what changes you need to reach more potential clients.
Social Reports
The world of business and social interaction is changing every day. Customers post about your business on social media platforms in the form of reviews, recommendations, and many other options. These interactions are essential to understand how broad your reach is into your customer’s social media world. They can provide insight into how you and your products or services are performing in the real world, and Website Analytics keeps track of them for you when employed properly.
Track and Evaluate Overall Performance
Understanding how others view your business is important. Customer relations, interactions, reviews, bounce rates, and marketing funnels are all a part of Website Analytics that can be used to boost your reach, but it is so much more than that. Website Analytics provides a real-life way to track the overall performance of your business. Noticing weak points in your analytics is just like noticing and fixing security concerns in a regular brick-and-mortar building. When they are addressed properly, it grows your business and provides a security level that cannot be beaten. A key part of Website Analytics is investing in proper SEO and Search Engine Optimization for your website. Read on to learn all you need to know about SEO.