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5 Ways Paying Attention to Analytics Helps Online Business

Starting an online business can be both fun and rewarding. The Internet is full of tools that can help you succeed regardless of the type of company you wish to build. Because many of these solutions are affordable, more people are starting their own enterprises today when compared to the 20th century. Of these tools, data collection is often one of the most valuable. For example, integrating systems like Google Analytics into shopping cart eCommerce software can assist in building greater future success.

Identifying Popular Products or Services

Analytic tools record when someone lands on any given page of your website. Over the course of time, this will show you what products or services people are finding more valuable. This could also signify that you may need to increase marketing for other products in order to drive traffic. In either case, this information is valuable when discovering what people like most about your business. Once you begin to understand a target demographic, you can build strategies to vastly increase income.

Monitoring Social Engagement

Social media plays an important role in the business world today. It helps build an online reputation while engaging a large number of possible customers in a short amount of time. Tools such as Google Analytics will record traffic to your website from these social elements. This will help identify whether or not your social marketing strategy is ideal or if it needs tweaking.

Tracking Online Growth

Even the smallest of online businesses should see an increase of growth over time. Analytics will display a graph depicting the amount of traffic your site gets as well as detailed reports regarding how people find your business. For example, you can see if you get more visitors from search engines or paid advertisements. Then, you can put together a plan to boost engagement among the lowest performing categories. For example, if you get 100 visitors from organic search and 5 visitors from social media, you may want to consider a plan for using sites like Facebook and Twitter more efficiently.

Identifying Trouble Pages

Data tools can also be invaluable when it comes to identifying problems on your site. For instance, pages with a high bounce rate mean that people are visiting the site but then hitting the back button. This often means that the content on the page is not what the visitor anticipated. Pages with a low average duration can also show that visitors are disinterested in that particular piece of content. In this case, it may take a bit of investigating to find out why.

Comparing Other Businesses Within Your Industry

Analytics can show how your business compares to others in the industry through benchmarking tools. At a glance, you can see how your traffic stacks up against the averages of thousands of global or even domestic online businesses. This data will include visitors from organic search results, social media, referrals, paid advertising and much more. Using this information, you can determine the best course of action to beat out the competition based on current online activity.

Understanding how the business performs online is an important facet of success. From gaining customers to identifying marketing platforms that work, data collection has potential to strengthen the company. Don’t underestimate the value of clear and precise information. It’s possible that it may contribute to building a stronger business platform.

tracy collins

http://www.moneyandtechnology.com

I am a freelance writer blogger social media marketer and content marketer with twelve years of experience in writing and blogging.

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