Your tech, marketing, and sales teams should all have website metrics and Google Analytics stats that they monitor week in and week out. However, as a business owner, you can get into the weeds quickly with the sheer number of metrics at your fingertips. Instead of trying to stay on top of every metric and the ramifications of that statistic, we are providing you with five stats you can monitor every week to understand how your site is doing.
Five Metrics Every Business Needs to Monitor
There are so many ways to track and analyze a website that it can feel overwhelming to anyone hoping to understand what indicates success or failure. Fortunately, you can utilize these five key metrics to get a good idea of whether your site is doing well, or if there is room for improvement.
1. Conversion Rate
Each business can define their own conversion rate. It may be that conversions are direct sales, emails, or downloads from the website. Having a well-defined conversion rate will tell you if your website is contributing to your direct sales or lead generation.
2. Return Visitor Conversion
Not every visitor to your site will convert immediately. However, tracking how many people return and become leads or customers can give you information about your clients and whether your website is able useful enough that potential customers will come back.
3. Bounce Rate
A “bounce rate” measures the number of people who visited your site and left after viewing only one page and not interacting with that page. Having a bounce rate is inevitable as people not looking for your services accidentally click on your site link, realize they don’t need your offer and click away. However, a high bounce rate indicates that your homepage is off-putting or unhelpful to potential customers.
A good rule of thumb is that a bounce rate above 55% could be improved. However, if your rate gets above 70% then you need to change something about your website, fast.
4. Clickthrough Rate
This indicates how many times your URL was clicked when someone saw it online. Usually, this is measured by Google Analytics, so it means that the person who clicked through to your site saw it on Google Search or somewhere on the Google network. So, if you have a 5% clickthrough rate, it means that you had 5 clicks out of 100 people who saw your site.
This can indicate how well your ads are doing. Additionally, by getting the Organic Clickthrough Rate, you can find out if your company’s SEO efforts are panning out.
5. Traffic Sources
If your company is running multiple marketing campaigns, traffic sources will immediately tell you what is working and what is not. For example, if your company has purchased ads on Facebook, Google, and Instagram, but you aren’t getting any Instagram traffic, you know that campaign isn’t producing results. From here you can get your marketing team to dig deep and find out what is causing this poor result.
Understanding the above metrics can help you get an overall picture of your website’s success and the success of the campaigns your marketing team may be running. However, every statistic is an indicator of a whole – showing you how your company is doing overall. If you are ready to do a deep dive into your company’s metrics and create a business success strategy – contact Business Success Consulting Group today. We will provide a free efficiency evaluation and help you grow your company from there.