Use Web Analytics for Faster Business Growth
Web analytics helps to measure, collect, analyze and report web data to gain insight into the information and optimize the use of the web. Companies use web analytics as a market research tool, evaluate and enhance the website effectiveness. Web analytics provides a comprehensive report about an eCommerce website.
And help the companies to make crucial decisions related to sales, marketing, customer behaviour, and in-house operations. Various web analytical tools can help companies perform A/B testing that uses multiple statistical analyses to achieve conversion goals.
Web analytics provides crucial information about the number of visitors and page views. Additionally, it also gives detailed information about visitors.
For instance, the visitor’s geographical location, the device used for searching the website, and the operating system used, amongst other crucial parameters. Google Analytics is the most famous web analytics tools in the eCommerce business.
Advantages of Web Analytics
Web analytics provides some great advantages to companies with the following features:
- Measuring the online traffic from the website.
- Tracking bounce rate and business goals.
- Tracking and optimizing the company’s online marketing campaigns.
- Looking for the right target customers and evaluating the amount of revenue those customers can generate.
- Improving and optimizing the website and Web Services. Enhancing the conversion rate optimization (CRO)
Difference between Web Analytics and Data Analytics.
Data analytics and Web analytics more or less works the same way. Also, they capture data from various sources like chats, emails, customer behaviour, surveys, previous records of companies, and they put them in a platform to analyze it for boosting the ROI.
However, there is a slight difference between them. Data analytics can capture offline data too. Offline data from various sources that are fed into the company’s system is utilized in creating reports. Also, web analytics only captures website related data. Web analytics can be integrated with different tools but focuses mainly on website data.
Use cases of web analytics
These case studies will help us to understand how web analytics optimized the ROI of these companies.
- The Next Web is a media business house that provides technology and assists companies get the most out of technology by getting them together through exceptional events and sharing fascinating stories and insights. The company used Optimize 360 and Analytics 360 to tap the correct combination of messages to boost traffic to its conference website. Secondly, the company conducted multiple tests and increased its clickthrough rate by 26.5%. And it also managed an A/B experiment and gained its clickthrough rate by 107%.
- Cancer.org is an American cancer society company that has been working for over 100 years to eradicate cancer. The company wished to know how many users are coming to their website and consuming its information and purpose. This simple report helped the company channel its marketing strategy in the right direction to attain the revenue goal. The organization utilized Google Analytics to boost their businesses’ performance, which led to a 5.4% year on year jump in their revenue.
- Brian Gavin Diamonds is a Texas-based company. The company are known for making customized diamond jewellery. The company’s wished to enhance the overall online sale by understanding users’ pre-buying behaviour. Therefore, with the help of Google Analytics and Google enhanced eCommerce, the company achieved its goals. For instance, their new jewellery designs on their website saw a 6% jump in sales. It encouraged the company to increase similar products lists on their website’s page. Web analytics helped the company realize that they lost around $500K due to card payment issues. And hence, the company created a guest checkout flow for these customers to complete the buying process. The change in the payment page helped the company to increase 60% revenue.
Best 5 Web Analytics tools
The web analytics tools helps to increase the performance of sales, decrease bounce rates and provide a comprehensive view of the ecommerce website.
It is one of the best web analytics product offered by Google. It is most widely used in business houses to manage their website’s data. Google Analytics provides many web analytics services like tracking website activity, analyzing bounce rates, tracking session durations, and pages per user session. Also, it tracks the traffic source, like which device, and operating system, the user has used to visit the seller’s website, and helps businesses to market their product with the integration of Google Ads. It can help enterprises to create and review online ad campaigns by tracking the quality of the landing page and achieving the conversion goals. It further helps in the customer acquisition and retention process. Google 360 is the premium version, and the price range is $150000 annually (invoiced monthly).
Another popular web analytics tool is the Adobe analytics tool. Adobe Analytics uses the power of the web by utilizing the traffic sources, customer pathing, video engagement and content effectiveness. Adobe analytics tool organizes and cleanse the web data and provides accurate customer insights. Some services it offers are Ad hoc analysis(companies can build customized analysis projects by dragging and dropping data table visualizations, dimensions, and metrics), Flow analysis(on a predefined sequence of pages, the flow analysis shows where the visitors left the website), and advanced segmentation(with the help of metrics and dimensions, the automated analysis helps to discover the statistical difference among the infinite number of segments). Companies can request a demo for the adobe web analytics.
Visual Website Optimizer (VWO)
It enables businesses to experiment with various textual and graphical on-page elements by A/B testing. VMO tool lets companies record website visitor sessions for later analysis. For instance, a company can use a live user recording feature to track any difficult to locate errors in the business operations. Such features can lower down the bounce rates drastically. This tool has many features that let us experiment with the web data, which directly helps convert potential customers. VMO provides a free trial version of the web analytics tool. VMO testing price starts at $199. Conversion optimization (special feature) pricing starts at $349. For the enterprise version, a company can book a demo.
It is another web analytics tool that helps to monitor, compare and optimize a company’s marketing links in one platform to enhance the conversion rate. ClickMeter uses a tracking link, uses those links in the marketing ads and then watches the real-time reports. It is best for affiliates, agencies, advertisers, developers, publishers. It has features like redirect, track, analyze, collaborate and integrate with AdWords, affiliate networks, analytics UTM, back page, chrome, firefox. ClickMeter offers three pricing plans Medium ($29/mo), Large($99/mo), X-Large($349/mo).
This web analytics tool helps track the customer journey, analyze sales and other patterns and trends on the website and helps in customer retention. Also, Woopra offers seamless integration of data across product, marketing, sales and support fields. Secondly, it provides custom tracking and 50+integrations with various analytics platforms. Woopra provides a wide range of reports on any business queries. It uses built-in triggers to take real-time decisions based on user behaviour. In conclusion, it also helps to sync the existing user data. Four pricing plans are available. Core(free), Startup plan, which costs around $349/mo, Pro ($999), Enterprise (price not given).
Web analytics collects and analyze a company’s e-commerce website data. It helps in the conversion of potential customers. Additionally, it allows customer retention as well. Businesses use many web analytics tools like Google Analytics, Adobe Analytics, Visual Web Optimizer, Clickmeter, Woopra. Web analytics and data analytics have a slight difference. Unlike web analytics, data analytics can also collect offline data. Most importantly, web analytics is used for in-house business operations. In conclusion. web analytics helps to provide a comprehensive report about sales, customer behaviour, marketing strategies after analyzing every parameter of the e-commerce website.
Use Web Analytics in your Business data