Meaning of Digital Analytics

Digital analytics is the process of collecting, measuring, and interpreting data from various digital sources to provide feedback on user or customer behavior.

According to Demand Jump, the goal of using digital analytics tools is often to improve customer experience, engage new audiences, and convert more of the consumers you engage with into paying customers.

Types of Digital Analytics and Their Uses

Every business should know the type of digital analytics that influences its online presence and performance on various channels. Below are some types of digital analytics:

1. Conversion Rate:

Conversion here means actions that organizations want customers to perform on their digital channels. It could be the purchase of a product, giving feedback, subscribing to newsletters, etc. Conversion rate is the total of potential customers that perform an action required by an organization on their digital channel. This data is so important for businesses to know which strategy and campaign work for them to learn and unlearn or readjust.

2. Site Traffic:

Site traffic as a type of analytics indicates the percentage of users who have visited a business’s digital channel. It measures the outcome of the business’s marketing campaigns indicating the best efforts in the form of unique visitors and page views.

3. Source of Traffic:

This shows data on channels that have generated the most users to a given digital platform which increased conversion rate.

4. Bounce Rate:

These analytics generate data showing the percentage of people who click away from a page on a website. It reveals poorly optimized webpages with slow loading time.

5. Session Time:

This indicates the amount of time a user interacts with a website or app letting you know how its visitors engage with the site. With such information, you will identify web pages or app features that are not performing well.

Data Provided by Digital Analytics

1. How people find your site
2. What people do after they get there
3. The content on your site that people engage with
4. When and how are people engaging with your content
5. The reason most people buy and others do not
6. Measure customer engagement
7. Measure data across multiple devices or platforms
8. Optimize advertising cost
9. Conversion rate
10. Measure content monetization
11. Analysis of online sales
12. Measure lead generation

Benefits of Digital Analytics

1. It helps to determine which marketing channels are not performing well so that one can decide whether to increase efforts there or decide if the content would be better used on a higher-performing channel. E.G of channels are; the web including social media sites, video marketing, affiliate marketing, search engine marketing, email marketing, influencer marketing, mobile apps, etc.
2. It shows the differences between views and conversions. For instance, you might note a higher traffic coming from one channel but a higher conversion rate from another. That may tell you that you are not targeting the right audience.
3. Digital analytics enables business owners to obtain actionable insight into the areas where they need improvement.
4. It also provides feedback, which in turn results in the achievement of desired goals or key performance indicators (KPI). KPIs are quantifiable goals that help you to track and measure success.
5. Digital analytics reveals the conversion rate of each digital channel such as email marketing, paid ads, social media marketing, etc.
6. Digital analytics helps brands to understand how their sites, apps, and social platforms are found and used online.
7. Companies can optimize user experiences across all digital platforms as well as optimize their marketing ROI, content offerings, and overall business performance with data gotten from digital analytics.
8. It collects data to show you how visitors arrive at your website and what they do once they’re there
9. This data also lets you measure performance against benchmarks and goals to see how your website is performing, where performance can be improved, and the effects of the actions you take to improve it.