The numbers tell the tale.
And for web analytics this is no different.
The number of online actions, transactions and purchases is growing year after year. That, of course, has its advantages: when using web analytics you get detailed insights about the surf- and buying behavior of your customers and/or prospects.
Let's mention some data that you can get started with: how do users find their way to our site? What content, products or services do they find interesting? Where in the purchasing process do they drop out? These insights are truly invaluable and much more difficult to measure in the classic setup of a brick-and-mortar store.
But even if you are not into eCommerce, web analytics are indispensable on your website. How else will you know if the goals of your web strategy and website have been achieved? Web analytics are a quick win that you cannot do without to really know your online business and to make relevant adjustments.
As a company it is important to translate your overall strategic objectives into concrete applications online. In practice, in order to take into account abstract long-term goals, you must determine the short-term critical success factors. These success factors are defined as Key Performance Indicators (KPIs).
Key Performance Indicators are obviously very dependent upon the context. During the KPI workshop, all persons concerned will determine, on the one hand, what these critical success factors are, but also, on the other hand, determine:
Depending on these parameters, different technologies can then be activated in order to create an appropriate dashboard.
Melexis, the stock market-listed global player in the semi-conductor and sensors industry, realised in mid-2015 that its communication with the outside world was no longer in line with what the company stands for. The company worked with The Reference on a fundamental rebranding exercise and a complete rethink of its online presence.
Is your marketing data producing the results your business expects? According to a recent report from
The CMO Survey, the answer is probably not. Marketers plan to increase their analytics spend 200%, but that spend isn’t expected to drive much of an increase in performance.