I’m going to do a series on this for a few reasons. First, website analytics is one of the coolest marketing tools because the numbers are relatively straightforward and reliable. Second, I want to do this in parts because it is a growing field of marketing that is relatively new, with a few techniques and resources that tend to get overlooked during assessments. However, this is just a primer and I do not intend to go into great detail unless there is a demand for explanation from visitors to the MarketFix Marketing Blog.
So here is my introduction:
The purpose of website analytics is to determine the effectiveness of the website. It is important to keep in mind that websites contribute to profits on three measurable dimensions:
1. Increase revenue
2. Reduce cost
3. Improve customer satisfaction/ loyalty
There are four basic components to website analytics:
1. Competitive analysis
2. Clickstream data analysis
3. the voice of the consumer
4. General market trends
In this series, we will explore tools that measure each of the four basic components as they relate to profit dimensions and your company’s website.