Knowledge is Power – Data all Business and Website Owners Should Pay Attention To
The marketing landscape has changed immensely since the onset of the internet and subsequent search engines. One main difference between conventional marketing and digital marketing is the speed at which things happen. Nowadays we can gather a multiplicity of information in a matter of seconds with our fingertips. We can analyse what is working and what isn’t much more easily because everywhere we go can be tracked.
Google Analytics is an amazing tool for everyone engaging in digital marketing on Google as it is vital for understanding how your website is performing. Whether you are engaging in AdWords, SEO, Facebook, or any other form of digital marketing, analysing the data provided is essential in order to structure your digital marketing strategy accordingly.
It takes practice to be able to tease out the useful and relevant bits of information from your analytics, but it’s well worth it. Below are a couple of the most useful ones that can help business/website owners see where their digital marketing strategy is working well or falling short.
1. BOUNCE RATE
Business owners need to know that the right people are coming to their website and finding what they came for. Does your website say “Hello, welcome to my store”? Did the potential customer like how you have presented your business via your website? There are so many websites to choose from that sell the same or similar products, what makes yours different?
Bounce rate is an important metric to help determine if your website is missing the mark somewhere. A bounce is when someone leaves your site without looking at a second page. Aside from certain industries where customers may simply call the first business they find online, like emergency plumbing, a high bounce rate is concerning. 30%-40% is a rough baseline for most websites. Usually a high bounce rate occurs when you either have a hideous website, it’s not mobile responsive, or your traffic is not that relevant. If you are selling socks and your ads are targeting garden supplies you can assume these customers will not stick around to see what your other pages have to offer. Analysing the bounce rate can help you quickly diagnose if there is an issue.
As the online marketing space is so competitive and becoming more so, it’s important to look at what your competitors are doing—especially if you want to beat them. You should look at their website to see what they are doing differently than you. Have they got a website that’s better optimised for user experience than yours? More unique and interesting content? Maybe they are focusing on attracting a different part of the market through keywords and ads.
There are many tools (paid and free) that can provide insights into how your competitors are running their online marketing campaigns. A popular one is SEMRush.com. You can analyse which keywords your competitors are targeting, how much approximate traffic they are getting, and new competitors that have entered the game, etc. To effectively challenge your competitors, it’s important to look at and compare how you stack up against them in all avenues of digital marketing.
Analytics gives you concrete figures that allow for quantitative analysis. However, qualitative analysis is as equally important. It’s vital to get feedback on your customers’ experience interacting with your business so you will be aware of what’s really working, or areas you can improve upon. Did your visitors find what they were looking for? If no, why not? Setting goals on your analytics can track how many people completed the checkout process, how many people filled out your contact form, etc. This will give you a better idea of whether you are attracting the right visitors and if your website is user friendly.
Another strategy is to ask visitors to fill out a survey when they leave your website. Gathering feedback from your customers will help you find weak and strong points in your business and website. If your customers are having great experiences, have them write a review! Reviews give your business credibility. If other people have enjoyed your product/service, potential customers are more likely to give you a chance to impress them too.