Website Analytics & Tracking
Website Analytics
Myth: Every company should have a website.
Fact: Websites are only advantageous if they are effective . . . and most websites are less effective.
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Almost 45% of small business websites will never produce enough revenue to justify the expense of that website. (Forbes 2008) Think about that. This means that almost half of all small and medium sized companies would have been better off not to even build a website. How can this be? I thought the internet was the single most important marketing medium. Well, an online presence is extremely important, but just like anything, there is a right and a wrong way. Most websites fail to produce high amounts of sales simply because the business operators spend a few grand developing the site and then that’s it. They just put the website out there, and hope people find it, hope people call in off of it, hope people sign up, and hope it works. They don’t monitor it, work on it, develop it, enhance it and promote it.
Here’s a list of 9 website success indicators that will help you determine if your website is working, and incidentally help you improve production.
1. Traffic or Hits
2. CTR or Click Through Ratio
3. Average time spent on the website by each visitor
4. Conversion (The % of total visitors who actually took action like made a purchase.)
5. Top Referral Sources (A list of other websites that are pushing traffic to your site)
6. Organic Ranking
7. # of Repeat Visitors
8. Page Views Per Visit
9. Bounce Rate or single page visitors
Remember: Increased effectiveness means more leads, and incidentally more sales.
6 STEPS TO DOUBLE YOUR ONLINE SALES
Step 1: Set up a comprehensive analytics package on your site.
(It must track at least track the 9 metrics listed above)
Step 2: Create a policy and a system to analyze the data as it is recorded.
Step 3: Systematically generate a series of proposed changes to your site.
Step 4: Implement the new changes.
Step 5: Measure to see if the changes resulted in a positive impact.
Step 6: Choose to either retain the change or revert to the old.
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