September 26, 2008 in Website Analytics
Web analytics is often an undervalued tool in many organizations. However, understanding website analytics can be one of the most powerful tools you have to grow your web traffic into engagement, sales and future revenue for your business.
If you’re just getting started with web analytics, don’t fret. There are a lot of in-depth blogs and online resources available on website analysis. One search on Amazon will pull up some great books to get you started as well (more on these below).
To get started, organizations should first identify key performance indicators – or KPIs – that are important metrics to monitor the performance of the site.
KPIs are a set of established, specific and measurable goals that you want to achieve from your website.
KPIs vary depending on your business but may include:
- Your website conversion rate (visitor to lead, visitor to sale)
- Percentage (%) of new or returning visitors
- Look to book ratio
- Number of online sales per visitor
- Average order $ value
- Average number of items purchased online
- Shopping cart abandon rate
- Revenue per product
- Average customer lifetime value