Web Analytics is defined simply as the measure, acquisition, analysis and the reporting of complete Internet data for the objective of understanding and optimizing Web usage. Strategy over tactic is a basic rule that is to be followed for a website’s accurate web analytics. A strategy is a plan of action that is specifically designed to achieve the goal. Whereas a tactic is a tool that is used to accomplish the goal following the strategy adopted by the officials of the company.
Making the strategy according to your business plan is the most important factor. It was analyzed that, “34% of marketers reported that their analytics was not integrated at all with their business plan” which may sound foolish but is a truth.
Top Five Actions That Make Your Web Analytics Strategy Effective
1. Determine The Basic Agenda Of Your Website
If you want to develop a useful web analytics strategy, setting up a primary goal for your website is the first and one of the major steps. In order to attain success, it is important for you to define the objectives and goals of your website. The main focus of a website should always rely either on gaining revenue or reducing the overall cost, which is not at all possible if there is no agenda of a website.
For an instance, E-commerce Sites that are specifically designed to promote the products and services of a company over Internet. The basic agenda for these sites is to sell more and more products online, in order to maximize the profitability of the firm.
The basic agenda of these websites is to increase conversions, improve customer acquisition, improvise customer retention and to increase the frequency and variety of the purchases of existing customers.
2. Main Focus On Conversions
The success of a website is determined on the number of page views, traffic of the visitors and most popular pages amongst all. The performance of a website does not solely depends upon the rise in the number of visitors from the previous month. Rather the overall performance of a website relies on the activities that are being performed by the regular visitors of the website. If the visitors are interacting more on your website, then your website is performing well as per the relevant measures. For instance, If an E-commerce site has increased 80%of the traffic, but there is no improvement in the sales, then it will be considered as a failure. It is important for an E-commerce website to convert its visitors into buyers. The main aim of an E-commerce site is to increase sales, rather than just bring traffic to the website. If talking about an E-commerce site the increase in traffic should result in the increase of sales, only then it is considered to be a successful marketing campaign.
Except for the successful shopping cart checkouts, there are various non-commerce activities followed by websites that lead to conversions:
- Setting up an account on the website
- Download document
- Newsletter registration
- Respond of consumers to Email campaigns
- Purchase of goods and services from the website
- Event Sign-Ups
- Profile Update
- Video viewing
- Making a payment
- Rating and article on a website, or forwarding it to any of the friends
- Link-back posts
3. Key Performance Indicators
Build actionable KPIs to pace up the concept of focusing on converting leads into conversions. Context as always needs to be relevant and unique in the data of web analytics. According to web metric: Unique and meaningful content is capable of bringing up 20% of hike in the number of page views on a website. If we talk about an E-commerce website, their basic agenda is to spread awareness amongst people about the products and services provided by them. They are supposed to keep people upgraded with what’s new on their website via online platforms. However, if we take an informative website, their primary goal is to increase self-service. With an increment of 20% page views on an informative website, it is generally assumed that the visitors might have faced difficulty navigating the website. And this isn’t a good news for any informative website.
Also, most of the users do not know how to analyze their website with the help of Google Analytics. Most of the users are not aware of where to start from, identify and report on the insightful data of the website that might help the marketers make crucial business decisions. Web analytics requires a methodology to translate the goals and objectives of any business into Key Performance Indicators. For example, KPI’s may be:
- Increase in the Conversion ratio per visitor over last month
- Increased Percentage of purchases per inquiry over last month
- Increase in the Rate of forms completed per visitor over previous month
- Increase in the Average number of visitors who sign-ups for a particular event over last month
4. Marketing Processes: Automate and Integrate
It becomes really valuable for a marketer to tie up web analytics data to other repositories and marketing tools. For example, it is beneficial to tie up various marketing tools such as E-mail, Customer Relationship Management (CRM), the line of business databases, off-line purchase repositories, and phone systems providing sophisticated cross-channel analytics to web analytics. Integrating and connecting disparate marketing tools are used to improvise the overall marketing campaign results. These tools remarkably enhance the campaign performance by enlightening upon the insights on the identities that are achieving maximum results. Strategic benefits are as follows:
- Transition of high-cost support services to low-cost channels( For example, transition customers from phone-based support to web-based self-service)
- Determine the drivers of cross-channel churn (For Example, issues that cause clients to seek extra added support from the phone service centers as it is not possible for them to complete self-service activities on the website).
- Capture visitor behavior across channels (For example, correlation of in-store purchases with web-based purchases)
- Get a holistic view of customer motivations (drivers) bringing them to the website.
5. Track Progress and Review Strategy Regularly
The most crucial step is to revisit the agenda and goals of your website. It is important to protect your strategy from falling by the wayside. This is a major part of your governance implementation. The things that ar most required to create a good web governance model are as follows;
- Accountability: The roles, responsibilities, and duties of the website.
Following the concept of 4Ws and 1 H: who does what, when, why and how?
- Accessibility: The access to complete data, integration with the other systems and availability standards of the website.
Accurate, timely and direct availability to the stakeholders of analytics and reports is majorly important.
Representation from all relevant business units with full participation by the owners of the companies and technology teams plays a vital role.
Definitions and policies set for all the web analytics reports, terminology, KPIs & calculations, reporting cycles, information dissemination, and routine review of governance for all the enhancements.
Image Credits: stratenet.com, activegarage.com, mediashower.com and digitalvidya.com.