Why should I buy web analytics?
This is a question I deal with quite often, both internally within the agency I work for and when trying to convey the value of web analytics to clients.
The short answer is that you shouldn't buy web analytics - your agency should set them up for you and the cost of running them thereafter should be FREE!
Web analytics is a tool, a means to an end.
It has no inherent value by itself. It’s only through the analysis of data and providing actionable insights that it creates value.
So if you are going to buy anything going forward, it should be the consulting services that provide you with the value that can be gained by a proper web analytics implementation and actionable analysis.
Marketing people talk about selling the benefits, not the features.
Web analytics is a feature.
Improving the bottom line is a benefit!
A simple analogy is HTML (the code used to create web pages).
Imagine if we tried to pitch HTML services to you. You would probably be scratching your head as to why you need the service.
Now imagine us pitching web site creation services, providing real world examples on how businesses have improved their bottom line with their web site. Now you can see the value.
When providing services that include web analytics, we start with the end result in mind and then together work our way backwards. If we start with the prize (your business goals e.g. leads, customers acquired, sales, retention etc), then clients start to see the value of setting up, monitoring closely and then taking action on the results that the analysis of your web analytics reveal.
Here’s an example:
- I can help you make an additional £80,000 a year
- It will cost you a one time investment of £25,000 investment and £1,000 a month
- You’re currently doing 3,000 sales a year
- I will get you 400 additional sales a year (average sale value is £200)
- The additional sales will come from improving your overall conversion rate by 13.3%
- Improving the overall conversion rate will coming from decreasing bounce rates, increasing “add to cart” rates and decreasing cart abandonment.
- The above improvements will come from making changes on the web site
- We’ll test a few options until we find something that works (split testing)
- We’ll know what changes to test based on data that tells us what people are doing on your web site
- In order to get the data that we need, we have to install web analytics on the site and then spend time each month analysing the data and making recommendations based on that analysis.
The problem is that many web analytics businesses start their pitch with step 10 and then work their way to step 1 so clients can't see the benefit!.
When people ask me what I do for a living, the answers have changed over the years, but now I usually answer along the lines of:
We help web sites do better at whatever they’re try to do.
Specifically, I learn the business objectives and then do some detective work, finding issues that can be improved and then together we improve them.
If you don't have web analytics installed on your website, or they are installed but no-one is providing you with useful, actionable analysis on a monthly basis, then contact us now on 01454 261111 to arrange your initial consultation. There is no obligation, but during this meeting, together we should be able to work out if we can help you achieve similar increased business objectives.