Web Analytics
Web analytics is the analysis of the behaviour of internet users. It serves the following key objectives:
- Monitor the health of a website — Track and measure web traffic to assess performance vis-à-vis benchmarks and metrics.
- Improve effectiveness of the website in terms of conversion rates and other performance parameters by means of controlled website tests.
- Improve effectiveness of elements of the marketing mix. For example testing/evaluating digital marketing campaigns.
Web analytics tools use information from logs, cookies and/or page tagging processes to segment site visitors and track their progress down the prospecting funnel, from leads to enquiries, enquiries to prospects, and prospects to customers. They track conversion rates at each stage of the prospecting funnel.
Widely used web analytics platforms include:
Though platforms like Google Analytics are very versatile and highly sophisticated, they are syndicated services with limited scope for customization.
Custom designed platforms such as the one depicted in Exhibit 26.1 are better suited for specialized applications. However, they do incur high development costs and are therefore advisable only for big platforms that can afford to develop and maintain them.
Web analytics is an ongoing process of improvement that comprise these cyclical steps:
- Data Collection — Server (Web) Logs, Page Tagging.
- Data Processing — Metrics.
- Reporting — Analysis and Visualization.
- Industry Benchmarks and Competitive Intelligence.
- Optimizing.
This chapter dwells on each step to explain the web analytics process in detail.
Note: To find content on MarketingMind type the acronym ‘MM’ followed by your query into the search bar. For example, if you enter ‘mm consumer analytics’ into Chrome’s search bar, relevant pages from MarketingMind will appear in Google’s result pages.
Marketing Analytics Workshop
In an analytics-driven business environment, this analytics-centred consumer marketing workshop is tailored to the needs of consumer analysts, marketing researchers, brand managers, category managers and seasoned marketing and retailing professionals.
Digital Marketing Workshop
Two-day hands-on training on Digital Marketing, conducted at the NUS Business School. Designed to make you more effective in developing and executing digital marketing strategies. You learn to use Google Search Console, Google Analytics and Google Ads to execute online marketing initiatives, run search and display advertising campaigns, and track and optimize performance.
What they SHOULD TEACH at Business Schools
Is marketing education fluffy too?
Experiential Learning via Simulators | Best Way to Train Marketers
Marketing simulators impart much needed combat experiences, equipping practitioners with the skills to succeed in the consumer market battleground. They combine theory with practice, linking the classroom with the consumer marketplace.
