Why every business should know digital analytics to truly understand customer’s online behaviour.
These days it’s important to understand how people behave before they purchase things online. The behaviour of customers otherwise known as a buyer’s journey, is split into stages down a ‘purchase funnel’ By stages, it’s better defined as the steps in a sales marketing funnel. That is, what are the different customer interactions they experience along the ‘purchase’ funnel that eventually leads them to a transaction.
3 Stages of a Buyer’s Journey – ABC
There are three (3) key stages in a ‘purchase funnel’ (buyer’s journey).
The first stage is known as acquisition. It’s all about building awareness and generating user interest.
The second stage is known as behaviour. Behaviour is when the users engage with a business.
The last stage is known as conversion. This is when the user becomes a customer and performs a transaction with a business.
The incredible power of the online world, is that, it is measurable and trackable using data like digital analytics unlike the offline world, where this would be hard to quantify.
Digital analytics can track information like what online behaviours led to a customer’s purchase, and businesses can use this data to understand about ‘how’ they can reach more customers, new and existing.
What are some examples of online behaviour data?
Let’s say, you have an online store and you recently ran some online advertising campaigns. Digital analytics can provide an insight into the success of such online campaigns, and measure which campaigns were most successful in increasing sales. Knowing this valuable piece of information means you know where to spend more of your marketing efforts to get the results you are after.
Other examples include using data to understand a client’s behaviour on a website that eventually leads them to the online cart section to complete a transaction.
It can also point out hurdles for customers to successfully complete their purchase. This can indicate the online cart process is taking too long, and customers are abandoning their shopping carts which means there is a real problems, and it requires an urgent fix.
Other useful data
Whilst the examples highlight the data that can be collected from websites, analytics like Google Analytics can also collect information from other systems like game consoles, mobile applications and other CMS (Customer Management Systems) and generate data reports that businesses can analyse and learn about their customers buyer behaviour and journey.
With factual insight, it’s easier for businesses to make smart and effective marketing decisions to reach more customers and to drive business goals further.
*Research: Google Analytics