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Developing a deep understanding of customer wants plays a key role in the success of any business. Having a business website is one of the best ways to achieve this, as it seamlessly allows you to collect, track and analyze customer behavior. Some important customer information businesses can collect via a website include their age, gender, product preferences, and buying behavior. This data can then be used to make informed business decisions and strategies. In this article by Homework Acers, we’ll explore the best practices businesses should follow to monitor website performance and the benefits it will provide for the short and long term.
What Metrics Should You Track?
Website metrics are set parameters that should be tracked on a daily, weekly, or monthly basis to stay on top of your website’s performance and learn about customer behavior. Here are three must-track website metrics to keep an eye on:
- Average Session Duration: The total time spent by a user on your website during their visit is known as a session. This metric provides businesses with a good idea regarding the performance of their website content. If your session duration is low, consider updating content on your pages and start including interactive elements.
- Top Pages: Your website is bound to have certain pages that garner higher traffic and engagements than others, a prominent example being the homepage. Once you have a list of the top pages, work towards driving greater traffic towards them and include sign-ups and product promotions as well.
- Conversion Rate: Your website can have various types of conversions, such as product purchases, account registrations, etc. The conversion rate will be calculated by the total number of visits to the site divided by total conversions. As reported by Word Stream, the typical online conversion rate stands at 2.35%. But, your aim should be to consistently improve your rate, as even a 1% growth can significantly increase revenue.
Importance of Using Business Process Management
In addition to the website, customer data will be collected through other mediums as well, such as performance marketing campaigns, email newsletters, in-app notifications, and more. However, your data will be stored on various applications scattered across different teams of the organization.
Business process management will bring some much-needed interoperability to the organization, leading to seamless sharing of data across all important teams such as marketing, sales, and product development. As a result, the business will have a holistic idea regarding website performance and make informed decisions on areas where improvements can be made.
Here’s an in-depth guide providing insights on identifying areas to improve through BPM and how to implement it for your business.
What Benefits Can You Expect?
Now that you’ve understood how to track your website performance, let’s look into the best benefits it’ll provide in the short and long run.
- Prevents Downtime: As reported by Aussie Hosting, downtime is referred to as a period when your website or parts of it are non-functional, this can lead to loss of revenue and customers. Prominent causes of downtime can be faulty code, hosting issues, or cyberattacks. But, consistently monitoring website performance will help you promptly spot any downtime signals and take preventive action.
- Accurately Tracks Business Performance: Your website performance will provide an accurate representation of your business performance. For instance, a steady increase in traffic can point to successful marketing campaigns. Conversely, low session times can highlight user flow issues which can then be addressed by the product and tech teams. The website will serve as a central platform to steer your business to success.
- Reduces Expenses: One of the main benefits of consistent monitoring is that it allows the business to take proactive rather than reactive steps. For instance, daily monitoring reports will make it easy to spot inefficiencies in performance and solve them before they have any adverse effect on the business. As a result, you’ll be able to achieve goals efficiently and minimize the need for excessive expenditure.
The learnings you can generate from a website can transform the business and help outperform competitors. Using BPM will only make things easier and help the business reap all the intended benefits of tracking website performance.