What is Web and Digital Analytics
From Wikipedia
The World Wide Web is a global collection of documents and other resources, linked by hyperlinks and URIs. Web resources are usually accessed using HTTP, which is one of many Internet communication protocols.[32]
- a system of globally unique identifiers for resources on the Web and elsewhere, the universal document identifier (UDI), later known as uniform resource locator (URL) and uniform resource identifier (URI);
- the publishing language HyperText Markup Language (HTML);
- the Hypertext Transfer Protocol (HTTP).[22]
Originally created by the US department of defense to network several computer science laboratories of their own and of their allies. The web started off as a top secret project named ARPANET
The grandfathers of all web developers Robert E. Kahn and Vint Cerf in the 1970s created the Internet protocol suite (TCP/IP) that we still use to this day.
It wasn’t till the mid nineties the internet that we currently know and enjoy allowed for commercial traffic.
I still remember the very first website I every visited being a very slow Library site with minimal content a nauseating screen color of #09dad0.
Only children of a certain generation can appreciate the frustration of those first dial up modems. These mid-evil dark times where you had to pick whether to be able to use the phone or be online. And if a sibling or parent picked up the phone you would be immediately disconnected and you would have to dial in all over again.
Now there internet is our primary mode of telecommunication, information and entertainment the challenge is to stand out from the noise.
The most valued trait for modern marketers is is to be able to properly analyze website data and competitors data. Store and cleanse that data and make it easy to understand for a variety stockholders.
For example if you had an eCommerce store you would be looking at your traffic acquisition, SEO and SEM. your users experience and funnel through your site and to measure your conversions.
Over the last 10 year Google Analytics continues to be leader in the data measuring game. The platform continues to be free and grows as technologies change. There is huge business value in being able to keep up and master the tools provided by google.
V1 = what the business spend on advertising monthly
V2= how many clicks are generated
v3= conversion rate
V4= average conversion value
v2 x v3 x v4= business income v5 / Return On Advertising Spending ROAS
v5 – previous months v5 = the economic value of web analytics
If a business spends $1,000 a month on digital advertising and garners 6,000 clicks and 300 newsletter signups. your conversion rate would be 0.05% . If you give news letters a value of 1 dollar.
Through the campaign the business makes 6,000 x 0.05% x 1.00 = $300 , In this case you might want to give more value to your signups and/or rethink the targeting/spend of your campaign.
Conversion rates are calculated by simply taking the number of conversions and dividing that by the number of total ad clicks that can be tracked to a conversion during the same time period. For example, if you had 50 conversions from 1,000 clicks, your conversion rate would be 5%, since 50 ÷ 1,000 = 5%. : Google
