Why is Web Analytics important for online business?

Web analytics is the process of measuring, collecting and analyzing the data that is received on the website. It helps to understand the demographics of the user, their location, the device they’re using, time the user has spent on the website and all other factors. There are many platforms that can be used to analyze this data like Google Analytics, Yahoo Web Analytics, Crazy Egg, Click Tale, etc. Almost all platforms like Facebook, Twitter, Zomato, Instagram these days have their customized analytics tab. It’s super easy for businesses to understand how their ads are performing, if they’re generating revenue or not, who is the target audience and much more.

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Some steps that are used in Web Analytics are-

  • Data Collection
  • Processing the data into information
  • Developing KPI
  • Formulating online strategy
  • Testing (A/B testing)

Methods like Page tagging, server log file analysis, Geolocation of visitors, Click Analytics, Customer life cycle are used in Web Analytics.

Understanding the user journey is the most important part on any business. When you put yourself in the shoes of the customer you’ll have a fair idea about what user wants and what he likes or dislikes. Web Analytics is like the customer shoes for the business owners.

Let’s see how will these shoes help you generate leads.

  • Page Performance

Web Analytics gives an insight about how a particular page is performing. It tells about metrics like-

  • Loading time of the page

Loading time is the time taken for the page to appear after the user has clicked the on the link. The average loading time is 22 seconds but a research in Feb, 2018 showed that users didn’t wait for more than 3 seconds after clicking on the link. Web Analytics will show you the individual loading time of each page.

  • Bounce rate

Analytics will show the bounce rate of each page. When a user opens a single page on your site and then exits without triggering any other requests than it’s called a bounce. It’s the percentage of visitors who exit after looking at one page. High bounce rate indicates that people are coming to your website but aren’t finding anything worthy to stay. The bounce rate shouldn’t be higher than 60%.

  • Landing Page Conversions

The pages that are linked to social media, e-mail campaigns or search engine marketing campaigns are called as landing pages. When a user fills in the form that is present on the landing page than a lead is generated. Web Analytics keeps an eye on the conversion of visitor to lead, lead to customer and visitor to customer.

 

  • Monitoring the users in real time

Web Analytics offers Real time monitoring. It is the technology in which business owner has the ability to track activities of the visitor instantaneously. It encompasses all facets of a website, from visitors, page views, clicks and sales. With help of this, online businesses can evaluate the buying habits of the customer, usage of keywords, referring websites, user interaction & behavior and current visitors. Google Analytics allows even the smallest businesses to have advanced (real-time) analytics.

  • Smart Marketing

Data is the most important asset of any business. People these days are selling and buying user data in order to generate leads. Analytics provides information about the keywords used by audience, his demographics, age, etc. Using this data, you can market your products or services to the potential audience (highest probable conversions). Most importantly, you will be able to predict future demands with help of this data. It’ll help you connect the dots of user behavior to make your future decision in terms of positioning and placement.

Analytics also help you to remarket your products. Remarketing creates a list of site visitors, then automatically shares that list within ad platform, such as AdWords, FacebookAds, Instagram Ads to show ads as visitors browse elsewhere on the internet.

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To understand this better, just type ‘cheap flight from Pune to Delhi’ in Google and you’ll be keep getting reminders of booking a flight on Facebook, Instagram & all other existing platforms.

  • Sessions

A session is group of interactions that a user does on your website in a given time frame. A single session can constitute of multiple navigations throughout the website. Usually, the time frame of session is 30-mins but you can make adjustments according to your will. For example, visitors who keep your website open in a separate tab and continue browsing elsewhere won’t be counted past the 30 minute session marker. Analytics can accurately gauge if individuals are truly interacting with your website as it’s vital to get interactions instead of “visits”.

 

 

Conclusion- Web Analytics is supremely important in today’s date if you intend to generate online revenue. It’ll help you to understand the user journey and the consumer funnel. More traffic, higher conversion rate, more sales and social shares etc. are the most important data metrics that can grow your business faster.

One thought on “Why is Web Analytics important for online business?

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