According to management thinker Peter Drucker, the only way to improve performance is to measure it.
Measuring your website traffic (or the number people visiting your website) is important because it provides insight to how your website is being used. Where is the traffic coming from, how long they are spending on the site, what pages they are visiting, are just a few questions that can be answered if you are measuring and monitoring your web traffic.
The growth of your business undoubtedly hinges upon attracting new customers and engaging the current ones. A website is the new frontier for attracting and keeping customers engaged. It therefore stands to reason that an increase in website traffic can be leveraged to enhance your business' bottom line.
By measuring and understanding how your website is being used, it serves as a tool for developing or modifying your online strategy. While the conversion rate is debatable, more website visitors equates to new customers. This of course does not happen in isolation as your website must be serving quality content and has a clear funnel to stimulate website visitors into actions that you want them to take, whether it is to signup for a newsletter or product updates or make an appointment.
Here are a few metrics that you may want to follow:
- Lead conversion: This is the number of leads that you convert into an opportunity/deal or prospects that are turned into customers. For example, when a website visitor who is interested in your product or service has taken your desired action on a landing page or has given you some type of information – email address, phone number etc. The lead conversion rate is measured as a percentage.
- Geography: Which geographical areas are your website visitors in? This information is crucial for businesses that operate from a brick and mortar store or provide services in a localized area. Traffic from a distant place may not be of value to you unless you are targeting tourists who plan on visiting your location.
- Engagement on site: How long do website visitors stay on your website? What links do they click on next? All of this information is available and can be very helpful in refining the information that you provide as well as the way web pages are laid out.
- Form submissions: Do you have forms on your website? How many form submissions are you are you getting? Forms can serve as a farm for names, emails and phone numbers which can then be used by your sales team to follow.
- Bounce rate: The bounce rate measures the number of visitors to a website who come and immediately leave. This is either because the visitor immediately finds what they are looking for and moves on; or your website doesn't meet their needs or provides a poor user experience.
Studying all of your website traffic data can be a bit intimidating, but it is the only way that you can leverage the power of your website. How does your website stack up?
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