How to use Analytics for Increasing Sales
Just over 45% of businesses use analytics to aid their sales according to a recent study. Have you thought about how you can manipulate the data that is available to you by using it to your advantage? The important factor that is going to decide whether you make it or break it, hinges on whether you decide to use the data that your analytics tools provide you. It goes without saying that in order to develop a healthy business you need to learn how to interpret the data and leverage it to your benefit. If you want to gain that edge over your competition, then you need to understand and act on it, fast. However, merely tracking the traffic to your daily deal website is not going to be sufficient.
So how exactly would you use the information at hand to decrease bounce and exit rates? And increase traffic and online sales? To understand a bit more about analytics, let us find out what can be done by studying the data you have at hand.
With Location Report, one can gain an understanding about where your traffic to your daily deal platform is coming from, and to deduce other vital details (such as number of visits, average page visits, duration of each visit and average duration). This will help you to formulate necessary marketing strategies according to the location. You can also gain information as to whether the visitor is registered or a subscribed one, the orders and revenue through him as well.
Using demographics, you can find out the age, gender and interests of existing, as well as prospective customers. With this knowledge in hand you can pinpoint the segment you need to target and effectively market your product.
Another feature is finding out your bounce rate. Bounce is used to represent the percentage of visitors who enter your website and leave it without continuing to view the pages in the site any further. You can view the number of bounces per page and seek to identify what the cause of the bounce could be and find out means to amend it.