Keeping Track of Website Traffic
By keeping track of website traffic companies can create realistic strategies and goals that are going to result in an increase in revenue for them. Although plenty of companies tend to claim to be data-driven, less than 30% actually have a business strategy that’s documented. That means companies need to have a business strategy so they can utilize the data that they collect from their website traffic to grow their businesses. Additionally, if a company isn’t measuring the performance of its website, it’s not going to be easy to set goals that are going to be realistic.
Key performance indicators (KPIs)
There are a number of website analytics platforms that companies can use to better understand the performance of their websites because they’re able to generate a lot of insights from the data they gather. Additionally, all of those insights are generated quite quickly. Even a single platform can provide companies with dozens of different ways that they can measure website traffic and the overall data. Before a company gets overwhelmed with all of the different options that are available on the market, it’s important to start with the key performance indicators that are going to align with the overall business goals. For instance, if a company wants to increase the prices of some of its products, the key performance indicators that can help in keeping track of the impact of that decision can be the revenue of the business, pages for the specific products that are going to be receiving an increase in price, bounce rates from those pages, and the length of the sessions for any returning potential customers. It’s best to only focus on a small number of key performance indicators because if a company starts tracking too many data points, it can end up spending a lot more time keeping track of the data, instead of generating insights and acting on them.
There are a number of different great platforms that can help companies analyze their website traffic, with some of the most popular ones being Google Analytics and HubSpot. With Google Analytics companies can collect the data from their website traffic, and then organize and analyze it in several different ways. The platform provides companies with very detailed reports including acquisition reports, engagement, real-time website traffic, and monetization reports. On the other hand, with HubSpot, companies can collect website data including page views and bounce rates, the time that visitors spent on a page in their sessions, and the exit and entrance rates. Then, the platform is also able to connect to other tools or software such as marketing, or sales, which means companies are easily able to track any data point through the entirety of the buying journey inside a single platform.￼