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Keep Your Finger On The Pulse

Microvista® LLC - Wednesday, December 08, 2010

Online sales break records with more than $1 billion sold on ‘Cyber Monday’. That’s a 16 percent increase from 2009, says ComScore a global leader in measuring the digital world.

Have you ever gone to a website to purchase a product and right before you’re about to hit the check-out button, for whatever reason, you decide to leave the website? This adds up to a company’s ‘abandon rate’ and one of the reasons that I leave the site is because they’re requiring too many steps to make the purchase.

Wouldn’t you like to be able to keep track of your online sales? Or know how much traffic you’re getting directly from your website? Was your customer referred by search engines, directories, or micro-sites? And more importantly, how would you like to have a tool that helps you make informed decisions about your products and/or services.

Would you like to know what the abandon rate on your shopping cart is? What is the top selling product or what type of customer is frequenting your site? In a recent report by Inc. magazine there was a pants retailer that increased their conversion rate to 20 percent. That’s a whopping $10,000 more a month in sales by reducing the abandon rate on their shopping cart alone.

This is where web analytics can make a difference in your online business. Having the ability to generate statistics and reports to analyze data with your sales team is critical for your business’ success.

Recently, there were many views on our site referred by a search engine from China. We also discovered that visitors sometimes misspelled the company name on a search engine. So you say to yourself, maybe we need to misspell our company name as well, who would have thought that misspelling words or names online is a good thing? It could add up to some serious cash by just making some small changes to your keywords. The only way to know all of this information is by utilizing analytics on your website and/or online business.

Having web analytics helps you keep your finger on the pulse of your business; you can easily get an overview of your online performance with a range of charts, statistics, and analytics to help you better understand the traffic on your site.

Once you’re done measuring and analyzing the data, reports can be generated for the stakeholders, and the following questions can be answered: What are you measuring? Why are you measuring it? Who are you measuring it for? What do you do with the analytics report?

A monthly or quarterly report might give you an indication what changes need to be implemented to keep a pulse on your online visitors.

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