Let's face it: when measuring website performance, traffic volume – and its month-on-month evolution – often takes centre stage, to the point of obscuring the bigger picture. This is a common mistake many companies make, and it can be detrimental to web analytics and any marketing strategy.
Focusing solely on visitor numbers can sideline key aspects for identifying conversion rate improvement opportunities or addressing an excessively high bounce rate.
To ensure you don't miss any of these crucial aspects, today's post summarises the six fundamental points highlighted by Corey Padveen, Head of Global Social Business Strategy at t2 Marketing International.
The Keys to Web Metrics
1) Outliers
According to the inbound marketing expert, this is likely the most valuable indicator. When extracting raw data from various sources (e.g., website, CRM, social media, or an app), taking a moment to study unusual or rare values – those that differ significantly from other collected data – can provide clues about aspects worth enhancing or correcting to improve marketing strategy effectiveness.
2) Audience Types
One of the great advantages of social media (and the data obtained from it) is the level of detail provided by each user within the company's target audience. Unlike surveys or questionnaires, analysing fan behaviour on social media allows companies to obtain data and information they hadn't previously considered. Moreover, if supported by a sufficiently relevant critical mass, companies can segment their target audience with great precision, and even define the characteristics of more than one buyer persona (i.e., their ideal customer model).
When an organisation identifies a successful marketing action or content campaign, dissecting the peculiarities of the audience it attracted helps to better understand the company's followers. Furthermore, these conclusions contribute to optimising the content strategy and editorial calendar, or simply to executing more effective marketing actions. In turn, focusing on users who have converted is essential for improving brand positioning and investing resources more efficiently.
3) Correlations
Whether analysing web traffic data or social media profiles, you should try to draw conclusions regarding individual user profiles and their browsing habits. For example, if you detect that men interact more than women, especially in the 40-55 age bracket, it's worth the company's effort to offer content tailored to this audience type.
While applying a detailed analysis like Pearson's correlation coefficient may not be necessary, it is worth paying special attention to this area, studying possible coincidences within the same variable. For instance, you can identify the Facebook posts (or any other social network) that generated the most interaction and try to determine if there are similarities between them (e.g., publication time, length, thematic focus, etc.).
4) Market Trends
Everyone understands the importance of data collection tools like Brandwatch, Crimson Hexagon, or Radian 6, as they allow companies to detect market trend variations before competitors. Therefore, if a company can react quickly and anticipate new demands and needs of its audience with its messages and commercial offerings, it will have a clear advantage over other companies in the sector.
However, this is not the only way to gauge the market: qualitative data can also be a perfect ally. By monitoring comments and opinions from the target audience, published on social profiles, blogs, and forums, the company can get an accurate picture of its field of activity.
5) Competitive Intelligence
Just as there are tools mentioned previously for audience analysis, there are also applications for collecting data on a company's competitors, such as Compete, Rival IQ, or Zuum. The information they provide is fundamental for a company to stand out from similar firms.
Furthermore, it's not only advisable to focus on what the competition is doing or the comments it generates, but also on themes or business lines that could represent an opportunity for the company, and where competitors have no presence. In a market as saturated with advertising impacts, products, and services as today's, finding untapped niches can become a real goldmine for any company.
6) Budget Optimisation Level
Even if an advertising campaign on Google AdWords or social media is yielding expected results, it's crucial to meticulously monitor it to minimise the cost per click (CPC) without losing effectiveness. For example, if the search volume for a specific keyword has decreased in recent weeks, the bid amount for that keyword may also have decreased. Hence, SEO analysis must be ongoing.
Problems Interpreting Metrics and Correcting Your Strategy?
You now know which data points require special attention in web analytics. Nevertheless, we understand that interpreting data from Google Analytics and other measurement tools is not only a complex task but also extremely delicate, as a large part of any marketing action's success or failure in terms of profitability depends on it.
If you need support with this process, contact us or call us on 93 532 93 78 without obligation. At B2 Performance, we will conduct a personalised analysis of your website and social profiles. Based on this, we will provide you with the keys to implement a truly effective content or online advertising strategy, maximising your investment. We'd be delighted to help you.
