The market is no longer dominated by the traditional marketers who physically sell goods for money. As digitisation has taken over physical buying, there are more and more transactions that take place online. Here, the buyer does not have to physically visit the store or even have a face-to-face conversation regarding the purchase.
All they have to do is log in to the portal, browse through the available products and add the ones they wish to purchase to the virtual cart. Once the shopping is completed, the payment is made online and the products are delivered at the customer’s doorstep.
This convenience and ease in operation has given rise to digital marketing and e-commerce. Almost every brand and business is now adding an e-commerce branch in order to increase business reach and sales.
However, if you are planning to make an entry into the digital market it is mandatory for your firm to have a website of its own. Your website would serve as a physical market where visitors would be converted into buyers.
Need To Track Activities
In a traditional physical market, you see the people visiting your store and making purchases. You have a direct contact with them and it is easier to keep a track of the people buying products from your store.
In case of online marketing, there may be thousands of people visiting your site and browsing through your products. Moreover, online marketing also opens doors to international surfers to visit your site and make a purchase.
This makes it important for you to track the activities of your visitors as they have full potential of being converted into loyal customers. There are people with varied tastes and preferences that log into your portal and make purchases.
It is important to track the activities of your visitors for promotional and branding purposes. Unless you know that a certain customer loves shopping in the shoes section, you won’t be able to send them personalised messages and ads revolving around footwear.
Winning Customers’ Trust
Tracking activities of your customers also gives you details about their purchases and their purchasing habits. You can easily ascertain the buyers who made the maximum purchases on your portal and the ones that bounced off without adding a single item to the cart.
You can give special offers and discounts to your regular customers based on their activity on your website. Giving exclusive discount coupons, giving free delivery options and enrolling your regular customers for lucky draws are some of the ways in which your tracking data can help you win the trust of your customers.
Use Of Analytics
Analytics are the software you need to install in order to track the activities of people visiting your site and analysing their behaviour in order to give you important conclusions.
For example, if there are 100 visitors on your site in the last week out of which 40 converted into buyers, the analytics tool would go through the activity of all 100, giving you the pages that they visited the most, the items they purchased and even the rate at which they shifted to another website.
You need analytics tools in order to have a clearer picture of your digital venture and for making important decisions regarding the same.
What Are Website Metrics And Why Are They Important?
Once you have analytics tracking system installed in your website, you have an access to all the information relating to the visitors and their activities on your sites. You can ascertain the IP Address of your buyers, the city from which they are making the purchase, the frequency of their visits and much more.
You can also find out if a certain visitor is browsing your site for the first time or is a frequent visitor. Analytics also give you the exact date and time when a visitor last viewed your site. This puts you in total control of your venture and helps you in managing it in specific intervals.
Website metrics play the most important role in analysing the behaviour of your visitors and customers. These metrics are nothing but parameters and categories in which your website can be evaluated. The metrics generally deal with the numbers and help an entrepreneur to see how their website is progressing (if it is!)
Web metrics are the indicators of success or failure of a website. They show the customer data with the help of analytics and reflect the behaviour of your visitors in a scientific manner. This objective approach to a business can help you in accepting your current position and working harder to achieve more.
Website Metrics You Should Track On A Regular Basis
You won’t be able to sustain long enough if you are not updated and in sync with what it happening with your website. There are certain metrics you need to check regularly to have an idea as to where your e-venture is heading and what you’re supposed to do in order to change the numbers showed by these metrics.
Have a look some of these metrics that would help you in handling online management of your business:
Setting Goals – When it comes to analytics, setting goals is the primary activity that would help you setting targets for your business. You may have goals like a certain number of visitors per week, earning a particular sum of money on a monthly basis and so on. This helps your business to set standards for your own venture for which you can strive and finally attain the goals you had set for your business.
Bounce Rate – This is the rate at which your visitors are leaving your site. It is the percentage of people bouncing off from your website to another site, without exploring your other pages. If you have a high bounce rate, it implies that more people are leaving your page and are therefore not interested in the contents of your site.
Visitor Flow – This is the pattern that the visitors follow when they visit your site. Generally, you would expect the flow to start from your home page, followed by the service page and finally the payment page if they are making a purchase.
However, you may have customers landing directly on the service page and then checking out the home page after going through your contents. Website metrics would help you in ascertaining the pattern your visitors follow after landing to your site. This would help you in customising contents on the page where majority of the visitors are landing.
For instance, if you run an alternative finance platform and the page dealing with providing overdraft facilities is the first visited page by your visitors, you optimise that page the most and make it the best page to be viewed by your customers.