Digital marketing is gaining tremendous importance across all industries and within an environment where there is an immense value of ROI. Therefore, for companies, it is imperative to measure and quantify all web and social media activities to monitor the effectiveness of digital marketing campaigns and media investments. But businesses face several issues in evaluating their digital presence in the era when a strong online presence can be the key to business growth.
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A recent report indicates that only 23% of companies have data-driven initiatives achieving remarkable results. 77% of marketers are still not able to report or measure how their business is performing online and how their customers react to their products or services. Factors such as these shed light on the importance of web analytics services.
Web analytics services equips businesses with the ability to decide what’s working and where there is scope for improvement.
At Quantzig, we understand the impact that web analytics services can have on your business. And to help companies stay ahead of their competitors, our team of experts have created a comprehensive guide on web analytics services, that offer extremely helpful insights on leveraging web analytics services to improve business growth.
Web analytics services have the potential to help companies analyze and understand their brand sentiment, provide information on the competing brands and effectiveness of their promotional activities. But before we move on to the benefits of web analytics services, let’s understand the definition of web analytics.
What is Web Analytics?
Web analytics is the process that measures, collects, analyzes and reports internet data to help companies in market segmentation, determining market interest, analyzing market trends and examining the behavior of website visitors. Web analytics services have the potential to aid businesses in understanding the interests and preferences of visitors to their website. Additionally, it facilitates web usage optimization and tries to provide clarity on underlying trends and ‘the reason why’ things happen on your website like they do.
Benefits of Web Analytics Services
1: Helps to measure the traffic on the website
Web analytics services allow you to measure how many viewers are visiting your website and source from where they are coming. Also, it talks about keywords used by visitors to search for products and services on your website. Web Analytics services enable companies to track the number of visitors arriving at the site through different sources like emails, search engines, social media, and display ads. Additionally, it also reflects the number of conversions through each of these sources. Such data helps businesses decide on which channel should they invest and focus more.
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2: Aids in tracking website Bounce Rate
When a visitor visits a website page and then leaves the same page without clicking on any link on that page or without taking any action, that is said to be a bounce for that page. By leveraging web analytics services, companies can keep a track on the bounce rate of their website and can take appropriate action to improve it. Furthermore, it improves the visitor’s website journey experience.
3: Optimize Marketing Campaigns
By leveraging web analytics services, companies can measure the performance of the campaign and can track campaigns driving the best visitors. Moreover, this helps the marketers to align their resources in the right channel or campaign. This way the correctly aligned resources can help organizations to yield higher value and can lead to high ROI. Additionally, gaining an insight into what’s working and what’s not marketer can utilize time on optimizing the appropriate strategies and drop the strategies that are not working.
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4: Identify Target Market
It is important for the marketer to understand their visitors and address the needs of different clients differently for conversion optimization. The findings of web analytics services unveil the current market demands. Companies can figure out what the visitors from a specific location is looking for and then, accordingly make their offerings. Additionally, using web analytics services it is easier for organizations to track the volume of visitors and performance of business related to visitor’s interests and demographics data. Furthermore, web analytics services can help in identifying the hours visitors spend on the website. Such data can be helpful for the business in identifying their target market.