Once you establish your baseline and objectives, you can start analyzing the data you track and taking action to ensure that you keep improving your metrics and progressing toward your goals. Analyze and act: how much did we improve? B2B SaaS companies often achieve a 60 to 80 percent conversion rate, for example, while offline software companies average about 25 percent conversion. Your ability to improve that may depend on industry benchmarks. For example, you might have a shopping cart conversion rate of 30 percent.
Part of setting objectives involves understanding the benchmarks for your industry. Once you understand where you currently are, you can set goals for where you want to go. Begin measuring key metrics now to see where your business is today and how you can improve tomorrow.
Monitor: what is the current status?īefore you can improve your metrics, you need to understand the baseline you’re starting from. There are three stages to making every data-driven decision: monitor, set objectives, analyze and act let’s see what each is about. This blog post gets you started with setting up the website tracking software that will collect the data to help you make data-driven decisions. Website tracking analytics help you monitor visitor demographics, the number of unique visitors and their sessions, bounce rate, traffic sources, click-through rate (CTR), and many more. Tracking website visitors and customer flow through your website is key to understanding how to attract more visitors and increase conversion rates.
Web analytics tools can help any business gather data, gain new insights from website visitors activity tracking and use these insights to improve their business. Subscription management solution to maximize recurring revenueįull commerce solution built for digital goods salesĪdditional services to boost online sales Accept mobile and online payments from buyers worldwide
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