Google Analytics is Google’s free web analytics service that allows you to analyze in-depth about the visitors on your website.
It provides valuable insights that can help you to shape the success strategy of your business.
Nowadays almost all the businesses have an online presence through a website.
Therefore, it becomes very important for you to learn the inner structure of your website to see whether it is accomplishing its purpose or not.
Google analytics is an incredibly powerful tool which gives you access to a lot of data if set up correctly…
But this is where most people get it wrong.
Most people do not know how to use Google Analytics the right way.
One of the biggest challenges I have seen for businesses or website owners is that they don’t know where to begin when it comes to analytics.
Well, Google Analytics provides us with tons of data…
But data on it’s own is meaningless!
Although data, when used properly will help you see what’s working well, what’s not working, and help you make decisions about “what to do next.”
Analytics is a critical component to building your business.
Without analytics, you’ll be running your website in the dark with no way to know what’s working and what’s not.
In this article, we will talk about how Google Analytics is important to your business and how the data provided by it can be used to increase your revenue, minimize your expenses & further increase your profits.
Well to understand how Google Analytics can be helpful…
Lets say a company’s website is receiving 10,000 visitors a month.
In those 10,000 visitors, 4,000 visitors a month are through Paid Advertising (Facebook Ads, Google Ads etc)
And about 6000 visitors a month from organic traffic.
Let’s say the company makes 500 sales a month from those 10,000 visitors on their website.
To generate these 10,000 visitors a month, the company does SEO & Paid Advertising on Google, Facebook & YouTube.
The company spends about 3 lakhs a month on Paid Advertising and 1 lakh a month on SEO.
In this scenario, it obviously makes sense to spend more on SEO since the company website receives most traffic due to SEO compared to Paid Advertising.
But let’s do a reality check…
What if 400 sales out of the 500 comes via Paid Advertising?
That means out of the 6,000 visitors generated for about 1 lakh a month via SEO, they are getting only 100 sales.
That’s 1,000 Rs per customer!
On the other hand it’s about 750 Rs per customer from Paid Advertising
It makes more sense now for the company to spend on Paid Advertising.
The company spends about 1 lakh a month on Facebook Ads and 2 lakhs a month on Google Ads.
Now the company realises that out of 400 sales generated via Paid Advertising, 300 are generated only via Facebook Ads.
This actually means that more than 50% of their sales are generated through Facebook.
In this scenario, the best strategy for the company would be to focus on spending more on Facebook Ads rather than spending on SEO or Google Ads.
Now the question that arises is how do you track which advertising medium is making the most revenue for you.
In order to track this, you need a tracking system in place.
And the tracking system we recommend is GOOGLE ANALYTICS.
Of course there are other softwares in the market similar to Google Analytics which provide you with customised analytics solution…
But the minimum price to get a subscription is substantially high.
So, unless you are a big company with a lot of traffic and a lot of revenue; it does not make sense to invest in any other external analytics tool.
Why Google Analytics?
- Its free of cost
- Has universal application – literally every website uses it
- Exposes you to a very big data set
- Tracks your data and also data from your competitor’s website & compiles them
- The data provided by Google analytics can be used in your Google Ads to be able to show ads to a better audience which are more likely to convert
- Easy integration with other tools and platforms
Google Analytics can do wonders for your business if used smartly.
It provides you with valuable insights about your target audience that can be used to improve the performance of your website and increase conversions.
Despite the fact that there are so many other analytics management platforms, Google Analytics remains a free & highly relevant solution for managing the analytics of your website.
If you want to know more on how Google Analytics can help your business then register for 1-1 free strategy session with our expert.
