How can Businesses Benefit from Using Analytics on their Website?

29Aug 2022 by Moonthemes 1867 Comments

Do you want to know how businesses can benefit from using analytics on their website? If yes, then you’re in the right place.

More than just retrieving data about your site, correctly interpreting the data is important for a business to succeed. And that’s when web analytics comes in. Web analytics is the measurement, collection, analysis, and reporting of website data to understand and optimize web usage. 

Further, web analytics is crucial for making business decisions. They help to carry out better online marketing strategies. Plus, there are many other benefits.

In this article, we’re looking at how businesses can benefit from using analytics on their website. Now, let’s start!

What is Website Analytics? – An Overview

Website analytics or web analytics is the process of collecting, processing, and analyzing website data. This includes tracking your website visitors and their activity on your website.

What is Web Analytics? Benefits for Business Websites
What is Web Analytics?

The main aim of carrying out web analytics is to derive useful data about your website audience and optimize user experience based on the collected data.

For example, Google Analytics is a popular web analytics software free by Google. It allows you to track your site’s traffic, source of the traffic, users’ behavior on your site, etc. 

Generally, web analytics tools measure the following metrics:

  • Audience Data – Number of visitors, visitor’s location, from which browser or device, traffic source, and more.
  • Audience Behavior – Pageviews, most frequently visited pages, the average time users spend, and more.
  • Campaign Analytics – Check which campaign made the most traffic, revenue, etc.

Using such data from web analytics, businesses can now easily streamline their business decisions. This not only helps to attract more visitors to the website but also retains existing customers.

Metrics in Web Analytics for Businesses to Analyze their Websites
Metrics in Web Analytics

How can Businesses Benefit from Using Analytics on their Website? (Top 10 Benefits)

Here is the list that shows how businesses benefit by using analytics on their website. To explain the merits more easily, we’re taking the example of the popular web analytics tool, Google Analytics.

Now, let’s get right into it!

1. Measure Web Traffic

Website analytics lets you know multiple things about your website like:

  • How many visitors are there on your website at any given time?
  • Where do the visitors come from? 
  • Which keywords are the visitors using to search for your products and services?
  • What are the visitors doing on your website?
  • How much time are your visitors spending on the website?

Moreover, web analytics shows you how much overall traffic your website has gotten. And that too from the different sources in an understandable way. Those sources of web traffic can be:

  • Organic – from search engines
  • Social – from social networking platforms
  • Referral – from other sources where your website is linked
  • Direct – from your site URL
Using Search Engine to Research Products
Web Traffic Sources

Through this web analysis, businesses can realize which activities produce the most profit. Further, it’ll ease them to determine in which channel they should focus and invest.

Additionally, it also identifies the conversions and bounce rates. This will help you understand how many potential customers you’re missing out on.

For example, measuring web traffic is crucial for eCommerce websites. With web analytics, shop owners can track the organic and paid traffic over time in real-time. As a result, businesses can now invest their time and money effectively.

In Google Analytics, you can see real-time reports of your site activity. That too based on the locations, content, etc. Moreover, the Traffic Sources option shows your site traffic via various sources. For instance, you can see that for a demo website in the screenshot below.

Sources of Web Traffic
Sources of Web Traffic

2. Track Bounce Rate

A bounce is when a visitor visits a page on a website but leaves without any interaction from the same page. Like without taking any action or clicking on any links on that page. Similarly, bounce rate is the total number of bounces divided by the total visits to the website.

If your website has a high bounce rate, then it can be one or more of the following reasons:

  • Visitors aren’t finding what they’re looking for.
  • No internal links.
  • Slow page load speed.
  • Browser compatibility issues.
  • Low-quality content, etc.

Therefore, due to weak user experience, web pages can have high bounce rates. As a result, this can reduce quality leads, sales, and other conversions to your business.

Website Bounce - Benefit of Using Analytics on Websites for Businesses
Website Bounce

So, to improve the site’s user experience, businesses should keep track of the bounce rate for every page. For that, web analytics is beneficial to improve the pages having a higher bounce rate.

Now, let’s take an example of tracking bounce rate in Google Analytics. In the Behavior section, you can find the overall bounce rate of your website. Plus, you get to check the behavior flow of your site users in terms of speed, content, search, etc.

Furthermore, you can also see the pages that are generating a higher bounce rate. For that, navigate to Behavior > Site Content > All Pages. Then, click on the Bounce Rate column to check the pages with maximum bounce rates.

Highest Bounce Rate Pages
Highest Bounce Rate Pages

Thus, you can now add value to the content of these pages to make them more user-friendly. In this way, businesses can benefit from using analytics on their website.

3. Find Top Performing Pages and Exit Pages

Web analytics tools also allow you to check the top-performing and exit pages of your site. Here, exit is a different metric from a bounce. Exit refers to when a visitor visits multiple pages on a site and then leaves.

Note: A high exit rate on pages like the ‘Thank You’ page on an eCommerce site after purchase is a good thing. Whereas the high exit rate on other pages indicates a bad thing. And such pages having any problem should be considered to reduce the exit rate.

Now, let’s see how web analytics help businesses find the top-performing and exit pages on your site. And that’s by taking the example of using Google Analytics.

In Google Analytics, you can easily check the top-performing pages. For that, navigate to Behavior > Site Content > All Pages. And on its results, you can see the top 10 performing pages of your site with their pageviews, page value, and more.

Check the Top Performing Pages of Your Business Website Using Analytics
Check the Top Performing Pages

On the other hand, you need to go to the Exit Pages option to analyze exits. There, you can see the top 10 exit pages of your website. 

In the screenshot below, the highest exit rate is on the home page. And that’s not a good thing. Thus, you must establish a better user experience for users in this case.

Find Exit Pages of Your Website Using Analytics
Find Exit Pages

In this way, analytics help businesses learn and benefit from their top-performing and exit pages on their website.

4. Optimize your Website’s SEO

Search engines like Google allow users to search for information on the web. Once users search and find your website, they can know about your business and your products/services.

If your pages rank higher on search results, then this brings more traffic to your site. As a result, your business can earn more revenue. Thus, your site must be easy to find by your target audience. 

For that, analytics makes reports on your website performance. In Google Analytics, Acquisition > All Traffic analysis shows the channels, sources, and mediums your visitors are coming from.

Find the Traffic Sources of Website for Improving SEO
Find the Traffic Sources of Website for Improving SEO

Similarly, on the Acquisition > Search Console option, you’ll find out these things:

  • Landing Pages: Overview of the popular and high-traffic landing web pages.
  • Countries: Countries sending the most traffic to your website.
  • Devices: The type of device people use to access your site most.
  • Queries: Different keywords visitors use to find your website. Every keyword includes clicks, impressions, and click-through rates.

Now, when you search for a keyword in the Queries, you’ll find similar words to use. For example, your target keyword is ‘youtube merch’. If you search for this keyword, then you can see a list of similar keywords. For reference, check the screenshot below.

Using Search Queries on Analytics to Improve SEO
Using Search Queries on Analytics to Improve SEO

By searching for keywords, you can do 2 things to improve web traffic:

  • Add those top similar keywords in the same content to get more impressions on your site.
  • Select keywords that are not ranking. Then, write new content using them to gain traffic.

This is how analytics can benefit businesses to improve the SEO (Search Engine Optimization) of their website.

5. Discover the Right Target Market

It’s important to find the right target audience for your products/services. If you focus on an accurate target group, then it’ll bring more profitability to the marketing campaigns you make.

For this, how does web analytics help?

Web analytics provides information on creating and finding the right target audiences. With that, businesses can easily create marketing materials to attract customers and increase sales.

In simpler terms, analytics reveal the current market demands in various geographical locations. For example, navigate to the Audience > Geo reports in Google Analytics. There, you can find the top languages your visitors are using and the locations where your content is most viewed.

Geographical Location and Language Analytics for Finding Target Markets
Geographical Location and Language Analytics

This helps you to identify what visitors from a location want. Now, accordingly, you can market those areas and audiences.

Moreover, you can also track the interests and demographics of visitors to your business. Plus, the time duration visitors spend on your website. Combining all these data is how you can discover the target market of your business.

6. Make Data-driven Decisions for Business

The main benefit of web analytics is that it allows businesses to find out how they can make their site more effective. And that’s by making data-driven decisions for achieving their business goals.

Making Data-Driven Decisions for Businesses Using Analytics
Making Data-Driven Business Decisions

Analytics tools like Google Analytics collect, extract, and format all sorts of data. With this information, businesses can make smarter decisions on their business goals. Such as making effective pages and content for a better user experience.

For a successful online business, you must offer your services and design your site based on your target audience. Specifically, look after their interests, behaviors, and other demographics. This is the ultimate goal of any business.

For example, go to the Demographics and Interests reports in the Audience option of Google Analytics. The Demographics report gives information about the age and gender of users. In contrast, Interests provide information on user preferences. 

Searching User Interests to Help Making Business Decisions
Searching User Interests to Help Making Business Decisions

These 2 reports help you find your target audience and reach the right people. Also, it guides you to make decisions about your marketing and content strategy.

7. Market New Products and Services

Another benefit businesses receive when using analytics on their website is the ability to market new products and services. But how? Let’s see it!

Web analytics tools show you the keywords your visitors search for on Google before visiting your website. You can use those keywords to introduce your new products/services that people are interested in for better rankings and marketing.

Share Brand New or Lesser Known Products - Benefits of Blogging
Market New Product or Service

Additionally, analytics tools like Google Analytics include tracking links. They track the different online or offline marketing campaigns.

This allows you to recognize which campaigns have attracted users and which are more profitable. For those potentially high-returning campaigns, you can invest more.

As a result, you can find the right campaign or channel to market your new products/services.

In Google Analytics, you can find the marketing campaign details in the Acquisition > Campaigns report. Here, you can track the best campaigns plus find the right paid and organic keywords for your products/services.

Analyzing Campaigns for Marketing New Products
Analyzing Campaigns for Marketing New Products

8. Conversion Rate Optimization

There are several conversions that a business should measure on its website. Few conversions that every business should measure are:

  • Entire purchase steps
  • Newsletter sign ups
  • User Registration
  • Video views
  • Clicks on text-links
  • Event registrations
  • Time spent on the website
  • Shares on social media, and more.
Lead Generation
Website Conversion

Here, the conversion rate is the number of completed goals by the number of users. And the main goal of optimizing the conversion rate is to make sure visitors complete their activities on your site. 

For that, web analytics helps businesses to analyze the conversion rates on their sites. Using them, you can optimize the conversions for more profitability and Return on Investment (ROI).

Further, Google Analytics gives you a complete conversions report on the Conversions option. For example, you can find the conversion analysis of shopping activities on the Ecommerce option. 

Optimization of Conversion Rate using Google Analytics
Optimization of Conversion Rate

In addition, you’ll see information about your site’s revenue, marketing campaigns, and products. Using them, you can optimize conversions for the growth of your business website.

9. Identify Content with More Social Shares

Identifying top-performing content on social media platforms is also important. Because you can learn from them and write similar or better content in the future. As a result, you’ll get more opportunities to build relationships. Plus, users shall show trust in your brand.

Finding Most Social Shared Content Using Analytics
Finding Most Social Shared Content

Most analytics tools also help you find the content driving more social shares. For instance, you can look at the Acquisition > Social reports in Google Analytics.

There, you must select the Shared URL option. Now, you can find out which pages or URLs are shared most and on which social platform. 

Therefore, with the help of this analysis, you’ll understand what kind of content needs to be written. And that’s to drive more social shares resulting in higher conversion rates.

10. Track Business Goals

The first step before starting the web analysis process is determining the goals. And businesses must track those goals to see how much they’ve achieved them.

When using Google Analytics, you can go to the Conversions > Goals report. There, you can check the percentage of your goal completion in terms of location and source/medium. 

Checking Goal Completion of Business using Analytics
Checking Goal Completion of Business

With such web analytics tools, you can easily track how well your business is doing against your goals. That’s because it lets you check how your visitors are interacting with your website, which pages are doing well or not, etc. 

Therefore, you can make the required changes to get closer to those business goals.

That’s all for the benefits of web analytics for businesses. Now, you may know how analytics benefit the website of businesses. So, let’s jump into the next section.

5 Best Web Analytics Tools and Services in 2022

Here, let’s check out the best web analytics tools and services available. Go through them and you may find a suitable tool for your business.

1. Google Analytics

Google Analytics is a popular online web analytics tool by Google used by over 60% of website owners. It’s a freemium tool present in free and premium plans. On top of that, you can also insert add-ons to your Google Analytics account to extend more features.

Google Analytics Platform - Best for Analyzing Business Websites

Moreover, this tracking tool collects web or app data to provide detailed statistics of the visitors, traffic sources, goals, etc. And then formulates reports about your users and how they interact with your website.

Key Features:

  • Helps you track the site’s conversions. Such as measuring the number of users who abandoned their cart.
  • Able to identify which keywords visitors used to find your site. That’ll help you improve the SEO and gain more traffic.
  • Compare your site’s performance in 2 different periods to understand the site’s growth.
  • Exporting the data from Google Analytics to other data processing tools is possible.
  • Using the user management option, you can invite your team members to work with you. Also, you can limit their access.

Pricing:

Google Analytics is a freemium analytics tool. If you have a small business, then it’s ideal to use the free plan having multiple great features. Such as real-time data, social reporting, conversion reporting, mobile and device tracking, and more.

Additionally, it also includes more advanced features. And these exclusive features come at a high price. Yes, you heard it right! Google Analytics Premium costs you about $150,000/year. 

Are you looking forward to using Google Analytics?

Check our article to learn in detail about Google Analytics from the link below. It’s ideal for everyone who wants to benefit from growing their business website.

2. Semrush

Semrush is a complete online visibility management and content marketing SaaS platform. It comprises 50+ tools for performing market research, advertising, and much more.

Semrush - WordPress SEO Plugins

Furthermore, the main aim of this toolset is to attract and grow users, then convert them into customers. With that, you can strengthen the search engine rankings of your website and even build a better social media presence.

Not to mention, it also helps you analyze your website, backlinks, and traffic. That’s why you can use it as an analytics tool to optimize your business. Now, let’s check the Semrush features.

Key Features:

  • Semrush keyword research helps you track your target keywords in different geographical locations. Also, finds the best keywords to target.
  • Allows you to analyze keywords, content, and strategies of your competitors.
  • With Semrush market analysis, you can analyze the position of your website in the market.
  • Able to check and compare the traffic volume of your or your competitor’s domain by Semrush Traffic Analytics.
  • The bulk analysis allows you to check and compare the backlink profile of 200+ sites.
  • Ability to make, launch, and optimize social media ads on platforms with Semrush social media marketing.

Pricing:

Semrush is also a freemium all-in-one marketing and analytical tool. You can use the free plan to add 1 project, check 10 domains and keyword results per request, etc.

For more features, there are 3 premium plans available. Each of them offers a 7-day Semrush free trial to get started with. The Semrush plans are:

  • Pro: $119.95/mo billed monthly, $99.95/mo billed yearly, 5 projects, 500 keywords track, 10K results/request.
  • Guru: $229.95/mo billed monthly, $191.62/mo billed yearly, 15 projects, 1500 keywords track, 30K results/request.
  • Business: $449.95/mo billed monthly, $374.95/mo billed yearly, 40 projects, 5000 keywords track, 50K results/request.

Do you want to learn how to use Semrush for free?

We have a complete blog on using the premium features of Semrush with the free trial. So, click on the button below to learn to use Semrush for free.

3. HubSpot

HubSpot is a powerful CRM (Customer Relationship Management) platform to improve customer experience. This platform contains or integrates various marketing, sales, content management, and customer service tools.

HubSpot Marketing Platform Best for Website Analytics for Businesses

Moreover, this platform includes a powerful marketing analytics tool. Using this software, you can measure the performance of all your marketing campaigns in one place. Thus, it gives you built-in analytics, reports, and dashboards to make data-driven decisions.

Key Features:

  • With social media management, you can connect with people on social platforms. Plus, you can build, publish, and monitor your campaigns.
  • Conduct highly targeted ad campaigns and get reports on how your ads are turning users into customers.
  • Manage your leads in one database. Also, you can segment lists, track the leads, etc.
  • Gives you SEO optimization suggestions to strategize your content for doing well on search engines.
  • Allows you to create impressive email templates by personalizing the subject and content for every recipient. 

Pricing:

HubSpot comes with multiple free tools for various functions. Such as marketing tools (forms, ad management), CMS tools (mobile optimization, drag-and-drop editor), etc.

For exclusive web analytics, you can buy a premium marketing product. It comes with the following options:

  • Starter: $45/mo or $540/year billed annually, 1000 marketing contacts, and includes marketing automation features.
  • Professional: $800/mo or $9600/year billed annually, 2000 marketing contacts, and includes all Starter features, campaign conversion, etc.
  • Enterprise: $3200/mo or $38400/year billed annually, 10K marketing contacts, and contains all Professional features, advanced reporting, and more.

Note that the pro plans also come with a 14-day HubSpot free trial.

4. Matomo

Matomo is one of the best web analytics tools businesses can use to benefit their sites. To use this platform, start a free plan or 21-day free trial. Then, add the tracking code to your site/app. Now, you can get real-time data, features, and reports to improve your site.

Matomo - Best Analytics Tool for Businesses

In addition, you can customize the features to meet your needs for web analysis. Not to mention, you can also extend the features. Since it integrates with 100+ technologies such as WordPress, WooCommerce, Magento, and more.

Key Features:

  • You can import your Google Analytics data directly into your Matomo account.
  • No limitations on the number of websites, users, and segments you can analyze.
  • Ability to track personal data like user IP addresses, events, geolocation, and more.
  • Includes multiple SEO analysis features like keyword ranking position, search engine reporting, etc.
  • Compiles all the user actions on your website and shows you in the visitor profile.
  • Contains features like goals and A/B testing to analyze visitor experience and improve conversion.

Pricing:

Matomo is also a freemium web analytics tool present in 2 price options. They are:

  • On-Premise: Free plan, hosted on your server, unlimited website usage, team members, etc. But you need to separately purchase the add-ons like activity logs, A/B testing, and more.
  • Cloud: 19 Euro, hosted on Matomo cloud server, 30 sites, 30 team members, and exclusive features like activity log, funnels, etc.

5. Mixpanel

Yet another analytics platform that helps you convert, engage, and retain more users is Mixpanel. It offers you multiple interactive reports such as the flows report, funnel report, retention report, impact report, and more.

Mixpanel - Analytics Tool to Benefit the Websites of Businesses

Not to mention, you can perform various things on the reports with just a few clicks. Like you get to visualize and break down engagement trends. Also, build funnels and find key retention drivers. Plus, check the impact of every product launch and experiment.

Key Features:

  • Able to quickly make custom dashboards in just minutes as per your need.
  • Get alerts about the changes in the metrics. Also, share the results with your team.
  • Group analytics allows you to measure the metrics at the account/company level. This helps to understand conversion rates.
  • Supports data integrations with which you can connect Mixpanel with your data stack. It means you can import or export for further analysis.
  • Supports integration to 50+ tools/platforms like Convert, AWS, Google Ads, etc.

Pricing:

Mixpanel is free to access unlimited data history, monitoring & alerts, data dictionary, etc.

Furthermore, it also has 2 premium price options for more features. They are:

  • Growth: $25/mo, all the free features, unlimited reports, data modeling, group analytics, etc.
  • Enterprise: A custom plan, so you must contact the sales team. It includes everything in the Growth plan, advanced access controls, experiments, and more. 

Conclusion

That’s all! Here, we came to know how businesses can benefit from using analytics on their website. Using website analytics helps you from the start of your new projects to growing them.

Further, we also hope you were able to select an analytics tool for the growth of your business. Among the various services, we recommend using Google Analytics. That’s because it comes with multiple reports, metrics, and more for free.

In case you want to know more about using analytics for your business, then comment down. We’ll be there to help you find the solution to your queries.

Moreover, you can read some of our helpful blogs on the best Google Analytics plugins for WordPress and the best WordPress email marketing plugins.

Lastly, make sure to follow us on our Facebook and Twitter handles.

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