Why would your website need business intelligence?
The Pareto Principle says that 80% of our results come from 20% of our effort, and also that 80% of the problems come from 20% of the sources. This is never more important than in business. Business intelligence helps us to think more like Pareto.
As business owners we are constantly seeking the 20% of opportunities that will lead to the majority of our business success. We also need to constantly seek to eliminate the “small” obstacles that lead to 80% of our problems.
Let’s have a look at how this plays out with your website.
Right now you probably have pages on your website that are ten times more effective at converting your visitors than any other page. Do you know which pages?
Also, right now you probably have pages on your website that, when viewed by your visitors, cause them to leave your website and purchase elsewhere. Again, do you know which pages?
If you are investing in digital marketing to send traffic to your website, some strategies are bringing much more traffic than others. Do you know which ones?
And out of all the traffic that is coming to your website, some of those visitors are ‘converting’ (i.e. they are buying your products or contacting you about your services) and others are not. Do you know how to identify what this small group of VIPs do or don’t like on your website so that you can attract and retain more of those people who will buy from you?
Businesses who have both the answers to these questions, plus the resources to carry out what the market is demanding of them, are able to rapidly grow their sales and profitability. This is especially the case with internet-based businesses where a successful formula can be scaled rapidly, and a business can appear to be an overnight success.
When you see a successful business growing rapidly you can be confident that the business has a firm grasp of their numbers.
The Problem With Google Analytics
When it comes to internet-marketed businesses we have a set of tools that can be used to supply us with all this wonderful data about our businesses. Most of us have it installed already – it is called Google Analytics.
The problem is, we don’t make use of the wealth of knowledge that could be right under our noses because we don’t use it to the best of its capacity. In fact, most online businesses are barely scratching the surface when it comes to using Google Analytics – only capturing the default information that comes out of the box and no more.
This is partly because Google Analytics can appear terribly complicated and daunting, but also because frankly we don’t have enough time or inclination to use it well.
Using Google Analytics to its fullest requires you to learn how to configure in detail all the information that you might want to collect about your websites. Then once you’ve achieved that you’re now neck deep in numbers and rows and columns and weird-looking graphs.
It’s like starting an interesting new diet in the hope that you’ll look amazing in your new dress, only to discover that your diet requires you to weigh all your food and now you need to spend all your weekends fermenting cabbage.
Now this isn’t to be disparaging about Google Analytics – this tool along with several others in my website business intelligence toolkit can give you tremendous knowledge and insight about how to improve your business. And they’re free! The trick is to make it simple.
Keep it SIMPLE
In this case simple means –
- No looking at rows and columns of data until your eyes hurt.
- No having to wonder what it all means.
- No googling nerdy things like – “how do I implement cross-domain tracking” (and then having to actually understand what Google tells you).
- No having to remember when you last checked your data or keep up some kind of regular schedule.
Do you think that website business intelligence would help your business? Would you like it be be both effective and simple? If so, I hope you’ll join me in the next blog post as I share with you some tips about how to do it!