7 Essential Web Analytics Metrics to Track the Success of Your E-Commerce Business Website
In today’s competitive e commerce business landscape, it is often the small details that define business success while providing a winning edge over your peers. Similarly, tracking the most basic of numbers pertaining to your website’ performance will help you to gain a competitive edge. We help you understand the seven key web analytics metrics to help you to get started with your website’ performance tracking.
- Website traffic: This is a top-level metric which plays a key role in keeping track of the number of website visits
- Bounce rate: Bounce rate is another important metric that helps you to identify the number of visitors who leave the webpage immediately
- Traffic sources: To improve the performance of a website it is essential to know the source of the traffic as every source of traffic offers important snippets of information about your website
- Conversion rates: Conversions rates have a significant impact on the website’s profitability, making it necessary to optimize your websites traffic for maximum profitability
- Top pages: This metric enables you to gain an overview of the top performing pages in term of the website’s traffic
- Customer’s lifetime value: This is a crucial metric especially when making decisions based on forecasts and marketing budgets
- Conversion by traffic source: It is essential to calculate conversion rates based on the traffic source to enhance search engine traffic rates
Web Analytics Importance from an E Commerce Point of View
Web analytics is a crucial factor that determines the growth of an e commerce business. It offers information vis-à-vis the users of a website to identify how the website’ content impacts the target audience. Additionally, to take productive decisions that grow your profit margins its essential to determine how the end-audience interact with your website. Also, the use of web analytics tools will help you analyze web analytics importance in real time by providing essential information regarding demographics, age, gender, and traffic source.
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The client – a renowned market player specializing in the e commerce business. The client recently secured a top position as the most profitable e commerce business segment in the US.
Project Background and Solution Offered
A multitude of criteria defines the performance of a website making it difficult to gauge its performance. This also means it’s essential for every organization to adopt an appropriate model that covers relevant criteria reflecting the core web analytics metrics. In today’s e-commerce business scenario websites have become the main source of business generation and a strong online presence is what defines a business’s success in a technologically enabled world.
To gain a deeper understanding of their online presence the e commerce business decided to implement web analytics to identify the key web analytics metrics and drive performance in real time. Their main aim was to identify key web analytics metrics based on their organizational goals and leverage the use of web data to determine the success or failure of their e commerce business objectives.
Value Delivered to the Client
The solutions and recommendations offered by our web analytics experts empowered the e-commerce business firm to identify key web analytics metrics and improve their online presence. Also, with the help of Quantzig’s web analytics solutions the e-commerce business organization was able to gain detailed insights into their customer’s visiting behavior and optimize the use of available data. This, in turn, brought major changes in their business structure through a 150% percent surge in their clickthrough rates.