In this article, we are going to share with you 4 ways we can improve business with Web Analytics.
In our current world, data is abundant. Yet, not many companies were able to benefit from those data. What can possibly be the reason?
The number one reason is, companies not knowing what they want out of those data.
Have you ever bought something that seems interesting at the time of purchase, but have totally no idea what to do with it when you reached home? Reluctantly, you kept it away in the storage room and deemed it as a waste of money.
Web Analytics, is that something.
Everyone is talking about it, but when we try it out for ourselves, we have no idea what to expect. Results are elusive, and we ended up dismissing the tool.
Fret not! We are going to go through 4 ways Web Analytics can help companies improve their online presence.
- Campaign optimization (Marketer)
- Identify website issues (Developer/Tester)
- UI/UX optimization (UI/UX developer)
- Improve conversion rates (All parties)
Improve Business with Web Analytics
1. Campaign Optimization (Marketer)
In the past, without data, ad campaign is a hit and miss affair. There is no good way of understanding why an ad campaign is doing well or badly, let alone learning from past results to improve the next ad campaign.
With Web Analytics, we can now answer many questions that were left unanswered in the past:
- Are we targeting the right audience? If not, which audience is reacting the best to our ad campaign?
- Which ad platform is the most suitable for us? Facebook? LinkedIn? Google? Forum?
- What is the CPA (Cost Per Action)? Is it cost-effective for us?
- Did we achieve our goal for the ad campaign? (Awareness, conversions)
- When is the best time/day to launch campaign X?
- How long should campaign X last?
- Is our new idea for the ad campaign working?
With all these insights, we are able to learn what works and what doesn’t work, then apply these knowledge to the next ad campaign.
Remember, consumers’ buying behavior is constantly changing. There is no one single ad campaign format that can last forever. It is therefore important for us to keep using data and insights to update ourselves on any change in consumers’ buying behavior, keeping us ahead of the competition.
2. Identify Website Issues (Developer/Tester)
It is common for a small website(~10 pages) to have up to 50 test use-cases. Depending on the complexity, it can sometimes go up to 100. Imagine an e-commerce website!
Testing can never be perfect. There’s only so much the developers and testers can do.
95% of the issues are often caught before the website goes live. As for the rest, Web Analytics can help us:
- Browser compatibility issues
- Website elements missing
- User unable to proceed to next step
- Poor loading speed
- Device-related issues
- Functionalities not working as intended
Users who encountered technical issues usually just give up and is highly unlikely to provide any feedback due to frustration. Instead of relying on users’ complaints and feedbacks, data can identify all kinds of issues that users are experiencing.
3. UI/UX Optimization (UI/UX Developer)
User experience is one of the most important aspect of a website. Without a good user experience, users get frustrated and often experience fatigue, resulting in a loss of conversion.
Companies often carry out a site-overhaul, in hope that the new website will perform better than the old one. But… without first understanding how the old site is performing, there is no way to tell if the new site is doing better or not.
Should the CTA (Call-to-Action) button be placed at the top of the page or at the bottom? Should we have a banner on this page? Should we have a single page form or a multi-step form?
Above are just some common challenges we faced in regards to UI/UX. Here’s how Web Analytics can help:
- Identify underutilized/redundant website elements
- Gauge the performance of important contents
- Carry out A/B testings to test out hypothesis
Instead of blindly overhauling our websites, we can now make use of data to identify what are failing and test out different hypothesis on how to improve the performance of the site.
This way, we can save a lot of unnecessary cost that comes with a complete overhaul. Instead of hoping for the best, we can now quantify the performance of any changes we make.
4. Improve Conversion Rates (All Parties)
When we talk about conversion, sales conversion comes to mind. Even so, sales conversion isn’t the only one out there.
Newsletter signup, account creation, login frequency, click of an article, viewing of products. All these can be considered conversions too!
As long as a stakeholder finds value in an action, that action can be considered a conversion.
Before we can make use of data, we need to first identify all the steps that lead up to the conversion itself.
Take for example, sales conversion on a e-Commerce website.
Land on website > View a product > Add product to cart > Check out cart > Select shipping option > View summary > Make payment > Thank you page
After identifying all the steps, we can then find out the step-by-step conversion rates. Knowing these, we can then understand the customer journey and identify what are the steps we can optimize to further improve the sales conversion rate.
Instead of having to guess like we did in the past, we now have data to help us better understand what are the contributing factors to a low conversion rate.
When used well, Web Analytics can indeed help us improve our work. Now that we have understood how Web Analytics can be applicable for different roles, it’s time to apply what we have learned!