The modern management thinker, Peter Drucker has said, “what gets measured, gets managed”. Explain the above statement with appropriate examples in the context of Web Analytics.
Web analytics is now allowing businesses to keep going and grow. Businesses that can measure, analyse, and report web data can improve their market reach. Businesses can improve customer online experiences by figuring out which sources and users are most and least profitable. Customer satisfaction and retention are at the heart of business goals and goals. This is even more important as we move closer to the internet of things.
There is a saying that goes like this: “What you measure gets done.” It means that when we measure and report our results, we stay focused because we use that information to make better decisions about how to improve our results. Key Performance Indicators are the measurements that are most important for all type of business.
When we use a website analytics programme like Google Analytics or Clicky, we can get on-page data. It’s easy to use both of these programmes for free, and they can give lot of information about how people use website.
- Number of Visitors – In this case, it refers to the total number of people who visit on website every day. Track this number on a week-to-week basis and keep an eye out for any irregularities. Keep an eye out for this number. Average number of visitors should go up over time.
- Bounce Rate – In web design, “bounce rate” refers to the percentage of people who come to site and leave right away, without looking at any of other pages. Current Google algorithms are taking into account this signal, so it’s best to keep your bounce rate below 50%.
- Average Time on Site – People who spend a lot of time on site are more likely to buy things from site if they are happy and interested. A low time on site could be because site isn’t giving visitors what they want.
- Value per Visitor – By dividing the number of people who came to site in a certain amount of time by the number of sales that happened at the same time, we can get this simple number. For paid traffic, we should make sure the value of each visitor is higher than the amount spends to get them to our site.
- Cost per Conversion – When we look at our sales metrics, we’ll also want to think about “cost per conversion.” In Neil Patel’s words, “It doesn’t matter if you have high conversions and high value per visit if your costs are so high that you don’t make any money at all.” While you’re trying to get more people to buy from you, keep your costs per sale and profit margins in mind.
Web Analytics can do wonders for our business in more advanced ways. It provides with valuable insights that can be used to improve the performance of our website and increase conversions. Even though there are so many other another analytics management platforms, Google Analytics remains a free highly relevant solution for managing the analytics of our website.