Website Analytics is defined as:
" the measurement, collection, analysis and reporting of Internet data for the purposes of understanding and optimising web usage,"
Every business will review financial data to see how they are doing. Not analysing digital marketing is like not looking at your accounts. You cannot neglect the data as it could end up costing you money.
There is so much web data available, and most is collected automatically once initially set up. Sometimes it can be overwhelming and you may not know where to start.
The most important thing is that any data collected has the following three attributes:
1. Proper Quality
Whatever tools you are using to measure data, you need to make sure you're getting high quality data.
Your website and your data are specific so some analytics tools may require minor adjustments to make sure the data you are gathering is accurate.
Analytics should inform and be informed by business goals. Any data you search for should be relevant to you, your company, your website and your digital marketing activities.
Measurement starts at the beginning
From the very start, your business needs to determine what you're going to measure and how it will show whether you are improving or not.
All websites have a purpose. Tracking the basic metrics such as visitors, traffic sources and page views is important but it doesn't really give you impactful data.
When measuring the effectiveness of your Digital Marketing it can be helpful to consider the following:
Websites can be categorised into various types. The goal of a Commerce website is to get customers to purchase directly from the site. A Lead Generation website aims to gain information to nurture potential customers. Content websites provide a stream of content to encourage repeat visitors. Finally, Support websites seek to provide customers with the ability to find their own answers and gather information they require.
Once you know what type of website you want you can start to identify achievable business objectives.
Goals are specific strategies or tactics designed to help achieve your business objectives.
A good KPI must be relevant and useful. Potential KPIs could be:
- Conversion Rate: The number of conversions divided by the number of visits to the website.
- Days/visits to purchase: How many days or how many visits does it take someone to make a purchase.
- Loyalty: The number of times a visitor returns to your website.
- Time: How long does it take the visitor to return to your site?
By segmenting data gathered you can understand the data and take quicker action. Example segments could be:
- New vs. Returning visitors
- Traffic Sources
- Device used to access the website
To gain any benefit from gathering data, you will need to assign numerical values to the level of success.
If you cannot measure something you cannot improve it. Focus on the factors that make the difference to you and your company, track them, analyse them and improve them.
WSI Digital Marketing Consultants can help define business KPIs, develop a Digital Marketing Strategy and provide Website Analytics to measure your Digital Marketing efforts. For more information contact us today.