Business Analytics
Web analytics

Web analytics – your lighthouse in the digital storm

One of the core principles of marketing lies in understanding and connecting with your customer. Analyzing the huge volumes of data that you gather from your business operations every day, can be an incredibly powerful tool to understand your market and how you can improve your business. Big Data can be overwhelming, but with the help of web analytics and its related tools, you can convert these numbers into valuable information to profit your customers, as well as your business.

Simply put, web analytics is the practice of collecting, measuring, and analyzing online data to comprehend and optimize your business’s online presence.

Here’s how web analytics can help your business:

With the web analytics data, you can better assess which marketing exercise is working for your business and how you can enhance your users’ online experience. Thus, generating more leads, sales, or conversions.

• It translates your customer’s user experience into quantifiable numbers. This customer analytics data allows you to discover what they want and how you can fulfill the same, making you stay ahead of your game.

• Various online analytics tools like Google Analytics help you identify your traffic sources, determine your ROI from advertising, number of visitors, the location of visitors, the duration of their presence on your site, and so on.

• Web analytics helps you narrow down the information, as sharp as a single page or a section on your online assets. You discover where you are losing traffic and at which point of the customer journey. By analyzing and reporting these weaknesses, you can improve those areas of your business, thus increasing your page traffic.

• It monitors your online data to help you analyze your visitors’ behaviors and demographics. Thus you can target the right audience and acquire new visitors.

• With web analytics data you can track metrics like Click-through rate, the number of conversions, type of referrals and bounce rate, and use it to improve your online presence.

If the digital landscape looks like an ocean, then Big Data is no less than a storm, and without a guiding light, your business will only be a small boat struggling to survive. That is why you need web analytics to your rescue and find your way through the digital storm.

How to ‘Growth Hack’ your amazon sales?

For most ecommerce businesses, sales on Amazon can be the difference between the success and failure of the brand. Right from listing to pricing to business analytics to customer reviews, it all adds up, determining the fate of your brand. After all it accounts for around 40% of the United States of America’s gross merchandise volume (GMV). In 2017, Amazon.in generated net ecommerce sales of around $561.4 million.

What is Growth Hacking?

Growth hacking is basically a process of continuous experimentation to identify the optimum ways to grow your business. Typically, it involves a low-cost approach as compared to the traditional marketing alternatives.

How to Growth Hack your Amazon Sales?

Increasing sales on Amazon boils down to one simple factor – Traffic. Relevant traffic. A user searching for a product on Amazon (using the site’s search engine) is more likely to purchase a product that one coming from an external site.

Hence, the keywords that you use for your product play a very important role in ensuring that your product listing page ranks better. Here are some tips:

  • Title of the product – Undeniably the most important part of your listing. The title is the main source for keywords in the search engine. Ensure that the keywords you choose are relevant and keep experimenting with them to find which work best for you.
  • Images – An image can speak a thousand words – use it optimally. They should be relevant, eye-catching and sell your product.
  • Product Description – Pay attention to how and how many details you provide here. It shouldn’t be too small or too lengthy. Add bullet points. Make it easier for the buyers to read. Write with the buyers’ perspective – NOT YOURS.
  • Customer Reviews – Reviews play an important role in the success of product. They are social proof that the buyer gets value for money. Ensure that you urge buyers to leave a review on Amazon.

Another important aspect is PRICING. Get this right or you might end up losing revenue or not making any sales at all! Before you price your product look at two important parameters:

  1. What is the lowest selling price that you can afford which offers a reasonable profit?
  2. What is the highest selling price as compared to industry standards?

Now calculate the best price and observe the behavior of the buyers closely before rampantly changing the product pricing.

Last but not the least, analyze all the parameters mentioned above regularly. Keep tweaking them if you find they are not fulfilling the objective of driving sales.

 

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