Small Business Marketing Unleashed: Analytics Analysis
"Numbers without context are just numbers," according to Matt Bailey, the founder of Site Logic Marketing. So in a session titled "Web Analytics," Bailey walked an audience through what they need to know about their sites and statistics.
"There is no such thing as accuracy. Accuracy and analytics never mix," Bailey stated. So try to track trends, and not specific numbers, in order to nail down what’s going on. And be sure to stick with a single program for your analysis, since data from different sources shouldn’t be compared.
At this point, try to establish solid information about search engine referrals, exit rates, and conversion rates. See how many steps customers have to take before they reach whatever you’ve established as the finish line, and identify where they drop off the path. "Analytics is not just about numbers," noted Bailey. "It’s about trouble-shooting."
In the end, you should be getting at least six reports relating to the following segments: conversion rate, top keyword "groups" from search engines, top referring URLs, content popularity, click density/overlay, and bounce rate.
Bailey stated, "Only 11% of advertisers are tracking ROI analysis and profit," so if you can calculate these things, you’ll be well ahead of the curve.
WebProNews Video anchor Abby Prince contributed to this report.