Marketing has come a long way, from depending solely on individuals to spread the word to talking to everyone through mass media to finally sending out personalised and highly targeted messaging through online advertising. Online advertising gives us the luxury to understand a consumer’s online behaviour and show him advertising basis this gauged interest.
Online tracking is now not limited to the installation of the traditional “cookies” recording the websites a user visits. It has evolved with new tools to track in real time the data people are accessing or browsing on a web page combining it with data about that user’s location, income and hobbies. The updated tools include flash cookies & beacons that can be used to re-install cookies which a user has deleted, and can track user activities on a web page including the content user is sharing and consuming, along with the location of the cursor.
Web Analytics is not simply a traffic measurement tool, the humongous data generated has significant use for business and market research, and to assess and improve the effectiveness of a website. Insights from web analytics can feed into targeting online advertising to bring in more traffic, testing how the website feature changes have impacted the It can also be used for broadcast advertising campaigns and to estimate traffic to a website changes after the launch of a new advertising campaign. Web analytics specifically counts the visitors to a website and the number of page views resulting in gauging traffic and popularity trends which is useful for market research. While most of the entrepreneurial firms only track Google Analytics or Adobe’s Site Catalyst, there are 5 other significant analytics we should keep tracking for business, clients with a marketing perspective. Web analytics can be implemented in various fields including:
Customer’s opinion matters a lot, as they are able to provide potential problems with customer service. The process of customer analytics utilizes the data accumulated from consumer behaviour and assisting organizations in making crucial decisions through market segmentation & predictive analytics. The information fetched out is then further implemented for direct marketing, client relationship management, site selection and so on.
Human Resource Analytics
In this field analytics are implemented in Human Resource department of a firm. The sole aim to apply analytics is to enhance employee performances and ultimately get a good ROI. Human Resource analytics actually focuses on fetching data from processes rather than employee. Then by improving these processes the actual growth is achieved.
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This kind of analytics discovers new ways of comprehending non-financial metrics and financial statements in order to determine financial performance of an organization. Data accumulated is utilized in predicting future financial status and studying the business areas like corporate strategy, optimization, and consumer behaviour and so on.
This concentrates on utilization of a package of events, assisting in accomplishing a specific goal. It is an impactful method of measuring conversion rates on particular user behaviour, which can be in the form of new client acquisition, revenue generation, sales, and so on. What actually funnel analytics measures is how many prospective client entered the funnel and how many actually came out as a converted client for the organisation.
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We should look beyond the assumption that only the data attached directly to a website is useful. Observing what is happening on email campaigns, newsletters and in-app messaging tools is also equally important. It provides a panoramic view of the business. Lifecycle analytics can be essential in assisting with product making and manufacturing decisions.
Designing & launching successful marketing campaign implies choosing to invest money in the channels with biggest ROI for the business. We should track the marketing activity and observe which areas are apt for investment along with which are failing to lure customers.
On-site Engagement Analytics
No doubt, existing analytics package make us comprehend how customers behave on a page, but by drilling deeper into on-site engagement, we can better comprehend how to improve the usability. Tools like Heat-Map tracking can draw a picture of where they look on your page and where they’re clicking.