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How Can Businesses Benefit From Using Web Analytics

DATE

21 June 2024

WRITTEN BY

Jeevan

“Data is king” is a mantra every successful business owner lives by. Data should be the foundation of every business decision. And this includes any decision when it comes to your website. After all, your website is the face of your business. So, how can businesses benefit from using analytics on their website? That’s what this blog is about, so read on to find out!

Before we get into the specifics of web page analytics, let’s first take a look at what it is and why it’s important.

Understanding Web Analytics

To answer the question of how can businesses benefit from using analytics on their website, you must first understand what this “analytics” means. Analytics does not mean analysing data. It means analysing the right data. So, what does the right data look like? That depends on what you are using the analytics for. In this case, that’s your website.

What Is Web Analytics?

Web analytics is the process of identifying, tracking and understanding how visitors use your website. This can include the number of visitors, from where they visit, how they spend their time and what actions they take when they visit your website.

Many factors influence these. Web analytics aims to analyse those factors and take actions to improve them to achieve business objectives.

Why Web Analytics Is Important

Web analytics is a necessity in today’s fast-paced world. User behaviour can change instantly, and web algorithms adapt to these changes just as fast. Web analytics will ensure that your website can continue to do what it’s meant for. How? Let’s see.

1. Know Who Comes To Your Website

Targeting the right audience is key to marketing success. Analysing who visits your website will help you determine whether your marketing strategy is attracting the right audience. It can also help you identify new opportunities you might have missed when implementing your marketing strategy.

2. Find Out Where Your Visitors Are Coming From

Visitors can come to your website from search results, social media platforms, emails, or just by entering your web address. Knowing where your visitors are coming from will help you understand if your marketing strategy is working as intended. It can also help you spend your resources more efficiently if you wish to target a specific source.

3. Understand User Behaviour

How visitors behave when they visit your website can tell you how to optimise it. Knowing what pages they visit, how long they spend on a page, and what actions they take is key to giving them a satisfactory user experience. Optimising your website to both give them this experience and convince them to buy your offerings is impossible without web analytics.

4. Identify Visitor Preferences

Visitors come to your website looking for specific information, products, or services. Web analytics will help you identify what it is that resonates with your audience and how you can use that information to bring your target audience to your website.

5. See The Effectiveness Of Your Strategy

The goal of any business is to make a profit. And they do this by selling a product or service. That’s why just getting a customer to visit your website is only the first step. Getting them to make a purchase is the ultimate goal of your website. Web analytics will show you how effective your website is at doing this and what you can do to improve it.

Now that you have an idea of what web analytics is and why it’s important, you have crossed the first hurdle. It’s now time to look at how you can use it. To do this, we’ll first look at the key metrics you need to keep an eye on.

What Are The Key Metrics Of Web Analytics

Web page analytics include more than a hundred different metrics that determine different aspects of your website. Many of these metrics can be tracked with website analytics tools. Google Analytics for website is one of the most popular website analytics tools available and can track most of the important metrics.

Since reading about over a hundred metrics may become overwhelming, we’ll list out the most important metrics for web analytics for now.

Audience Data

1. Location

This shows where your visitors are coming from geographically. This shows whether your website is able to attract visitors from your target audience and if you have more opportunities coming from other geographical areas.

2. Device

Which device your visitors are using to interact with your website will tell you how you need to optimise it. For example, you can use complex animations to engage your visitors if they are using a desktop. If the majority are using a mobile device to access your website, you should prioritise simplicity and ease of navigation.

3. Demographic

Like location, demographics like age and gender can show you if your website is attracting visitors from your target audience. If your target audience is underrepresented among your visitors, it’s time to make changes to either your marketing strategy or your website.

User Behaviour Data

1. Bounce Rate

This is an important metric that shows how often visitors to your website leave before taking any additional action. It could be because your website is too slow to load, the content is not engaging enough, or they didn’t find what they came for right away. A high bounce rate means that your website is failing in many ways.

2. Exit Rate

Just as the name implies, this metric shows how often visitors exit your website from a particular page. If a page has a high exit rate, it means that it is taking visitors away from your website and will need to be optimised to ensure that it does not.

3. Pages Per Session

If visitors navigate to different pages on your website in a single visit, it means that your website has enough content to keep them engaged. The higher this metric is, the better your chances of leading customers to learn about your offerings.

4. Session Duration

How long a visitor spends on your website on a single visit is also a great indicator to determine whether the content on your website can keep them engaged. The longer they spend on your website, the more opportunities they have to learn about your offerings.

5. Pageviews

This metric shows which pages have the most visitors. By analysing this, you can optimise your website and marketing strategy to increase the number of visitors to desired pages, such as the purchase page.

Acquisition Data

1. Users

How many visitors visit your website in a given time period gives you an effective understanding of the size of your audience and how they compare to other periods of time.

2. New users

This metric will help you determine how effective your marketing strategy is at attracting new visitors to your website for the first time. This, when analysed with the above metric, will help you determine if the content of your website is good enough to keep them coming back.

3. Sessions

Sessions show a combined overview of all user interactions on your website. This not only shows how many users visit your website but also how long they spend on it.

4. Traffic Source

This shows which platforms are successful at leading visitors to your website. These include search results, social media, ads, and emails. Web page traffic analysis will help you see how accurate your traffic source is with your buyer persona and determine if your marketing strategy is effective.

User Experience Data

1. Page Speed

This metric shows the overall performance of your website and is comprised of many other metrics, including load speed, interactivity and visual stability. Fortunately, you can analyse this easily using Google’s PageSpeed Insights.

2. Page Flow

How visitors navigate your website will show you how you can lead them towards achieving your overall objective, whether it is increasing sign-ups or subscriptions, spreading particular information or leading to a sale.

Lead Generation Data

1. Event Tracking

This metric shows how often your visitors are taking a particular action you have pre-defined as an event. This could be signing up, filling out a form, or just submitting their information.

2. Conversion Rate

This is a more specific version of event tracking, but it is used to determine the frequency with which your visitors fulfil your website’s ultimate objective. Only one action can be specified as counting towards this metric.

3. Velocity

Velocity determines how fast your website is capable of leading visitors to different stages of your marketing funnel. It starts with cold leads visiting your website for the first time. From there, once they learn about your offerings and become warm leads to finally become hot leads leading to conversions.

These metrics can already give you an idea about how web page analytics can help your business. Now, let’s look at how your business can benefit from analysing them.

How Can Businesses Benefit From Using Analytics On Their Website

Web analytics involves analysing over a dozen metrics, each of which comes with its own benefits. To get an overall understanding of how your business can benefit from web page analytics, we’ll look at what analysing them can do for your business.

1. Enhance User Experience

By understanding user behaviour and your website’s performance, you can improve visitors’ experiences. You can identify what your users are looking for and where your website is lacking to optimise your website to give your visitors a satisfactory experience.

This will not just improve your brand perception but also lead them to come back to the website in the future, increasing your chance of converting visitors to customers.

2. Increase Lead Generation

Your website is one of the best sources to generate leads. Especially when it comes to inbound lead generation, your website is the determining factor that will turn warm leads into hot leads.

By analysing pageviews, page flows, and velocity, you can optimise your website to move visitors across your marketing funnel and eventually increase conversions. It can even determine your conversion rate so that you can see how your website is performing at a glance.

3. Improve Your Marketing Strategy

A marketing strategy is an all-encompassing strategy that starts from identifying potential customers to turning them into paying customers. Web analytics can give you insights into every step of your marketing strategy so that you can identify opportunities and shave off weaknesses.

Take a look at audience or acquisition data, for example. It can help you determine whether you are reaching your target audience with your marketing strategy or find new markets your marketing strategy has ignored. Meanwhile, web traffic analysis can help you identify whether your marketing strategy is allocating resources appropriately to maximise the acquisition of the target audience.

Even user behaviour data like pageviews, bounce rates and exit rates can help you determine the success of your content marketing strategy and optimise it.

Web analytics are essential for any business aiming to succeed in the digital landscape. They offer valuable insights into website performance, user behaviour, and marketing effectiveness.

These insights empower businesses to make data-driven decisions that enhance user experience, increase conversions, and improve overall marketing strategies. Investing in web analytics is not just an option but a necessity for businesses looking to stay competitive and achieve long-term success.

However, web page analytics is a time-consuming process that involves tracking and analysing over a hundred metrics. Then following it up by taking appropriate actions that align with your business objectives. If you believe that spending your resources on your core business activities is more efficient, you can hire a digital marketing agency to do it for you.

TargetG is one such digital marketing agency. With years of experience working within multiple industries, we’ve become one of the best digital marketing agencies in Bangalore. If you are looking for a data-driven digital marketing agency that can help your business with web analytics, talk to us today!

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