Recent research by the Aberdeen Group has highlighted the need for web analytics, just one of the features included in WhosOn. The report has found that companies that use web analytics can increase online conversion rates from 2% to 7%.
The researchers also found that 76% of companies in the study improved year-on-year conversion rates with, on average, conversion and revenue per visit increasing by 3% each year and customer profitability increasing by 4%.
But the report warns that many executives find web analytics too hard to interpret and that instead of raw data they need actionable information. This suggests the authors is the reason many best in class organisations use paid analytics solutions, either standalone or in combination with free products.
Other findings from the report show that best-in-class companies share common characteristics such as:
- 69% have a process for disseminating online data to key personnel
- 68% have defined performance metrics to measure online success
The key actions that come out of the report show that to become a best-in-class business companies must:
- Track ROI: 63% of best-in-class companies, compared to 31% of all others, track and measure the ROI from their web analytics solution. As is the case with any initiative, companies must ensure that they have a clear understanding of the benefits delivered before, during and after implementation.
- Solicit feedback from executive-level champions on the business value of web analytics. While the support of senior management is crucial to the success of an initiative, feedback regarding the value delivered is just as important.
Companies should also link revenue or cost goals with metric reporting to help senior management understand the value of the analytics.
Parker Software’s Business Development Manager Ian Rowley says “Web visits can be one of the most valuable lead generation tools a business has, and Parker’s WhosOn live chat software enables a more efficient and customer-friendly way of transforming online visitors into valuable leads“.
“WhosOn not only gives an historical analytics view of site visits but it also provides a clear real-time view enabling organisations to act instantaneously rather than looking at purely historical data and acting on this when a visitor has left a site, this in addition to establishing a personal communication link online via live chat between the customer and the business ultimately increases the likelihood they will establish a relationship with a sales representative, ask more questions and ultimately buy.“