Tracking your KPI’s online is important.
Tracking your Key Performance Indicators, otherwise known as K.P.I’s, can allow you to measure your results and make changes accordingly. If you don’t know if your website is effective, than it’s probably not. If you would like to generate leads from your site and the phone isn’t ringing then your probably not generating enough traffic or providing a clear message to produce qualified leads.
Success online means getting people to do what you want when they visit your site. You may be looking for people to go to your website and make a purchase, fill out a web form or contact you for further information, for example. Taking a deeper look at the KPI’s of your website or blog, will allow you to better understand how to increase your web traffic.
When looking at Google Analytics it can be a bit overwhelming. What metrics make sense to follow? Well this could be different for every business. All of the below are metrics:
- Number of Visits to your site
- Number of Page Views
- Bounce Rate
- Average Time on Site
- Number of visitors who fill out web form
Be careful though in identifying KPI’s, because they are unique to every business (even between competitors) and a great way to fail quickly at this step is to poorly select what KPI’s are important. Once you have your important KPI’s selected, it’s time to start tracking them. By tracking KPI’s you can then see what areas need improvement. It will change the way you do business online and hopefully increase your conversion rate.
Most of the time the key performance indicator of success is your Conversion Rate. This is the percentage of visitors to your site who do what you want them to do (i.e. call you, fill out web form etc.). If you want them to fill in a contact form, your Conversion Rate is the percentage of visitors who submit the form. If you’re selling online, your Conversion Rate is the percentage of visitors who buy something.
From what I have read, the average conversion rate across the web is 2%. Amazon are said to have the highest rate at 9%, though this is not a figure they will confirm. Once you know what your conversion rate is, you can better understand how to improve the results.
If your conversion rate is 2% or more, according to the average on the web, your site is doing well and you should concentrate on increasing it’s visitors. If your conversion rate is less than 2%, you’re not converting the visitors you’re getting and you should put your efforts into improving the site.
Click the link to read our most recent article on how to increase online sales.
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