Put simply, web analytics refers to the measurement, accumulation, interpretation and reporting of web data in order to understand and use it for optimizing the web experience. Any business that has a digital presence should make it a priority to measure and analyze the behavior of its visitors. Some of the metrics that are measured include the number of visitors, source of their visit, the actions performed on the website, the pages viewed etc. There can be as many metrics as you want, but businesses needed to focus on those that can help them in achieving their objectives. These web analytics can be useful for any business because they can aid them in understanding their target market, market segmentation, visitor behavior as well as the trends in the market.
There are several ways in which web analytics can contribute to business growth and some of the prominent ways are:
They can track bounce rate
A bounce refers to when a visitor comes to a website, but then leaves without taking any action or clicking on anything. Web analytics are immensely handy in helping a business know its bounce rate. Why is this important? A high bounce rate is an indication that visitors are leaving the website quickly because they are unable to find what they were looking for. This is a cause for concern because you don’t want people to leave your website unsatisfied. With web analytics, a business is immediately alerted and can take the steps necessary to reduce the high bounce rate.
They can identify exit pages
Exit and bounce are different metrics and should not be confused with each other. A bounce is one when a visitor comes to a page on the website and leaves it whereas an exit refers to when a visitors goes to multiple pages of the website and then chooses to leave. There are some website pages that tend to have a high exit rate like the ‘Thank You’ page, which opens when a purchase is complete. However, if other pages have a high exit rate, then those pages need immediate attention.
They can identify target markets
Businesses need to understand their visitors and address their needs for conversion optimization. Automated web analytics can be performed with tools such as https://www.canecto.com/ that can be used for gaining insight into the market demands, which can vary according to location. The analytics can identify what visitors from specific locations are looking for and offerings can be adjusted accordingly.
Web analytics can also be used for tracking volume of visitors as well as the performance of the business according to visitor interests and demographic data. These demographic details include gender, age and interests of the people coming to the website. This data can also help a business in identifying their target market.
In a nutshell, with web analytics, a business can increase its return on investment (ROI) by reducing bounce rate and identifying its target audience, which can lead to growth in the long-term.