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How You Can Use Analytics to Increase Profits

There are many ways you can use the internet to increase business profits, and one of them is through Google Analytics. Businesses rely on analytics to get insight into their consumer base—their demographics, preferences, and spending behaviour. They can then use this data to create better and more seamless online experiences for customers. Here, we discuss how you can utilise analytics to unlock hidden profits in your e-commerce, and ultimately boost your bottom line.

Find out what they’re interested in

Google Analytics’ Site Search feature allows you to see what users are looking for on your website. This feature helps both you and your audience—you’ll know what your audience is interested in, and at the same time, you help them find more information about the topics they’re searching for.

To enable this function, go to the Google Analytics and enable Site Search under the Admin section. Once enabled, you can head to the Behavior tab and look for Site Search and Search Terms. There you’ll get to see what customers are looking for, so you can create relevant content involving their searches.

Study how customers navigate your website

When people visit your homepage but don’t convert, analytics can help you find out why. When you study how customers navigate your website, you can make changes to it to help them find their way easier, and improve results. Google Analytics can do this with a behaviour flow report, under the behaviour tab.

Here, you can toggle between ways to segment traffic, and see how each unique traffic source behaves. You can also see the next steps someone takes on your website before deciding to leave or convert. Analysing the report will show you how many times people bypass your homepage, going from one landing page to another, without clicking back to Home. You can improve the experience by including more internal links or CTAs along each step, so you can keep people on course.

Set up goals to track conversions

Analytics is not just limited to measuring traffic and page views. You can maximise Analytics by setting up goals, so you can track which actions lead to conversions. When you know which marketing activities result in new leads, sales inquiries, or products sales, you’ll be better equipped to know where to focus next.

Turn social media likes to conversions

Take advantage of your 1,000 Facebook likes by looking at your Social Media Google Analytics Report. This helps you see how much traffic each social account is generating, and how many of those users turn to new customers.

The new, dedicated social media report will consolidate your social media channels into one place, so you can easily track how trends change when your ad spend or social activities increase.

Create a quality mobile experience

Potential customers are more likely to be on their mobile devices than on their desktops. That’s why creating a user-friendly mobile website should be one of your business growth strategies. Conversion rates tend to be lower, and people tend to leave your website if you have a poorly developed mobile website.

Head over to the audience tab in Analytics and click on mobile and overview. There you can see whether there’s a significant difference between your website’s conversion rates on desktop and mobile. If your mobile is significantly less than desktop, it means you’re losing sales due to a bad mobile experience.

Know your top converting pages

While some pages may bring high traffic, they may not necessarily be your top converting pages. Know your top converters so you can funnel your traffic there, and hit two birds with one stone—bring in traffic, and convert too.

You can do this by looking for the reverse goal path report under conversions. Select which goals you’d like to review, and see the individual pages people went through before converting. These are going to be the pages that help make the final push before individuals convert.  By knowing which pages these are, you can boost your marketing efforts for the pages that bring in traffic, and craft relevant content on pages to drive conversions.

Obtain context from a lifetime value report

Goal conversions are not completely foolproof when it comes to telling you what’s working or what’s not. You’ll need a different metric for that. Lifetime value allows you to get better context around which campaigns are churning out the best ROI.

To use it, you need to set your acquisition date range. Select which LTV metric you’d like to start with. Then pick a metric to compare your first LTV metric. LTV will show you how many site users acquired during a specific month and how their lifetime value changes based on the second metric you’ve selected, such as page views, and session duration.

Unlock your business’ full online potential!

At Bartercard, we understand every marketing dollar counts, and that’s why we encourage you to utilise the right digital analytics tools. With smarter insights, you can improve your marketing decisions, and get better ROI.

Let Bartercard Australia help you unlock your business’ full online potential. Our online B2B networking platform helps you attract new customers, increase your leads, and make more sales! We have satellite offices around Australia, including Bartercard Sydney, Adelaide, Brisbane, and more. Join our growing network today!


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