Website Metrics are an important part of every business. Used correctly, they help you know where to invest your time, money, and resources for the greatest returns.
The challenge comes in recognizing the numbers that matter for your company instead of getting lost in stats that don’t.
Think of vanity metrics like scammers. They seem like they’re offering something good and will be a wonderful addition to your life, but they only build up your ego to steal something of real value from you.
The Right Website Metrics Numbers for Your Business
Not everything measurable is worth measuring. The numbers that matter for you will vary depending on your business and its funnel.
Most Website Metrics funnels look something like this:
- Awareness of your business or product (Unique Visitors)
- Interest in what you offer (opt-ins)
- Conversion (sign up, purchase, etc.)
- Use of your product or service
- Repeated use/purchase(s)/referrals
At each of those steps, you have the potential to gain or lose customers. There are several different metrics you can look at during each phase, and choosing the ones that are right for you means looking at the information you gain and the pros and cons of each measurement.
Reliable and important numbers are those that indicate the success of your funnel at each step and offer at least some indicators of why prospects and customers are behaving the way they are.
Imagine getting 300,000 likes on your Facebook Fan Page. It feels good, but what does it mean? Are likes one of the metrics you should use?
It’s relatively safe to say that each like is a new visitor, so higher stats mean a greater awareness of your company/product. The reliability of demonstrating unique visitors and improved awareness is a “pro” of that stat.
However, some of those people might have got to your page because they enjoy looking at fit bodies but have no intention of ever buying your product. Awareness doesn’t correlate with interest or mean progression through your funnel. That’s a con when it comes to metrics.
Do new visitors result in future sales or are the likes on your Facebook page showing up after a sale has already been made? Without more information, there’s no way to know. Not understanding why your website or Facebook page got a new like or how people got there is another con of using visitors or likes as a metric (and make them a vanity stat for most businesses).
You want stats that show if you’re attracting your ideal client, converting them to customers, and leaving them happy with your product or service. If you aren’t sure if a number is vanity or worthwhile, the following will keep you in check.
Always Have Counter Metrics
For every number you use, have a counter stat that keeps it in check. Daily sales of 4000 units appear great, but if you don’t also know that there were 3970 returns, you’re missing an important part of the picture. What if you had 4000 sales, but you also had 400,000 visitors? Wouldn’t you want to know that the majority of people didn’t buy?
Likewise, having 3000 new likes without any idea of how they got there and without any trackable signups or conversions makes likes an almost meaningless stat.
Customize the website metrics that matter for your company, and you can focus your energy and efforts where they’re most needed for greater success.