Why are your website revenues not higher you ask? For many brands, it might not be a traffic issue, but rather a conversion problem. So many companies think you can create a website with a “set it and forget it” mentality, but that just isn’t true. If you want to make money via your website (who doesn’t right?) then you need to be listening and paying attention to how people navigate your site. Furthermore, you need to be prepared to take action when you see something that is clearly not working. This practice is referred to as conversion optimization, and you should be in the game.
We have talked about the need for Google Analytics and custom dashboards here on this blog and the next question should be, then what? If you are tracking behaviors like bounce rate, duration and page flow, then you will start to see areas that need fixing. There will be negative, actionable information like: Why do so many people go to this category page and leave right away? Why do they get to the cart and abandon so frequently? And conversely there will be positives such as: Why do people spend 3+ minutes on this page and why did this particular blog post garner so many views? If you start asking these questions and diving into the pages, you will find opportunities to remedy and/or double down on the good. You must be doing this on a monthly basis.
Imagery, copy, colors, positioning and clear calls to action, are just some of the things you need to consider as you mold your site to be a better engine for business. Having a partner to help you both strategize and implement the changes is very important. Most brands don’t have someone on staff to make the calls and even fewer have a solid webmaster relationship in place to make updates in a cost (financial and opportunity) efficient manner. As such, they often just don’t do anything, and that is a huge mistake.
Website revenue is a game changer for a business in any vertical, because the margins are typically higher AND you have a one-to-one relationship with the buyer. This should lead to increased frequency of purchases and a greater life time value from that user if you are doing things right. So the question isn’t why aren’t your revenues higher, the question should be – are you doing anything about it?
Google Analytics provides website owners with so much actionable data to improve their business. The problem is that most companies don’t use them correctly or effectively and as a result they are squandering opportunities to generate online revenue.
For most the data is just overwhelming and/or confusing so they just don’t dive into it. With some smart organization up front you can create custom dashboards that allow you visibility in a bite sized or even dumbed down fashion, so you can better understand what is going on. If you want actionable information that means something to you specifically, you need to have it served up in a simple way. This is an important step towards online success.
Of course once the dashboards are setup, you also need to be committed to making the necessary changes based on the data. If you are serious about your business, then you should be armed and ready to make those moves.
Here we explain custom dashboards a bit further. Just hit play:
Did you know that you can add Google Analytics to any Facebook Tab that you create for your fan page? This tool can help you gain deeper insight into how these pages perform and how users interact with the content displayed there. Data like this helps marketers understand a bit more about their fans, which is helpful in exploring and creating new touch points for the brand or business.
Here is a snapshot from one of our client’s pages in January, showing that there were 500 unique views to this particular page in the month. It also shows that on average the user spent 3:52 minutes engaging with or reading their content. This is a compelling stat, as that is a long time for any consumer to be viewing their customized marketing message.
Bounce rates and %exits are high, but that is to be expected on a one page tab on Facebook. If this were a multi-page website these would be alarming stats for sure. In the end, as marketers try to understand the ROI and KPI’s behind Social Media, increased visibility like this is a no brainer component to add into the mix.
A lot of business owners ask me if I think they should be using Google Analytics. My answers is always:
If you will react to data you find in analytics then yes, of course you should be tracking analytics on your website
Google Analytics are free and intuitive, but they are not the only version you should consider. If your business is more sophisticated online and you are really optimizing page performance I really like Webtrends (especially with their new interface)
If you are committed to measure ROI and review KPI’s on marketing efforts then you should constantly be analyzing your website to make sure that you aren’t losing traffic when they get there. Marketing efforts might be stellar in bringing people to fish, but if you aren’t going to make the lake fishing conducive then you there might not be any fish caught. Measured behavior once users come to your website and then onsite optimization are so important.
If you are selling products online and/or trying to drive leads from your website then optimization based on analytics is a must!
If you are approaching social from a marketing angle only then it is imperative to really have an understanding of what the value of a social referral to your website really is.
Click here to see a recent article about upgrades in social reporting that Google Analytics launched this week. It really helps you better understand the value in social interactions, and can arm you to make some really good moves for your business.