Whether you like it or not, the entire manufacturing industry is changing.
Sure, we still rely on some traditional forms of advertising and even some older machinery, but a revolution is currently underway.
Known as Industry 4.0, the impending shift is a result of evolving technology such as the Internet of Things (IoT) and the continuing popularity of the Internet in general.
No. 1 - Visitors/Traffic
Perhaps the most basic statistic of any website, the overall number of visitors, or web traffic, tells you exactly how much exposure you have across the Web.
There are additional steps you can take to separate these numbers even further, such as unique visitors, demographics, country or state of origin and other, similar metrics.
No. 2 - Referrals
It’s also good to know exactly where your web traffic comes from. Are visitors finding your website through social media advertisements and promotions, or are they clicking links in your latest email blast?
Do they find your site through an online search engine — such as Google — or are they manually entering your web address into their browser? Uncovering this kind of information can show you exactly where you need to ramp up your efforts, and which tactics are already succeeding — or failing!
No. 3 - Bounce Rate
The term “bounce rate” refers to visitors who immediately close their browser or hit the back button after landing on your site. Numerous reasons cause visitors to bounce away, but it’s a typical result of being unable to find the product, service or information they need.
In this case, you’ll either have to update your website to include relevant products and services, or modify your incoming links for relevancy.
No. 4 - Conversion Rate
The conversion rate is one of the most important stats for determining the value added by your website.
Visitors who come to your website without making a purchase aren’t adding anything to your bottom line, so it’s critical to focus your online presence on making as many conversions as possible.
No. 5 - Pages Visited
You’ll also want to track the exact pages each customer visits. Not only does this give you a better idea of their overall length of stay, but it can give you valuable insight into the latest consumer interests and trends.
If you find most of your customers are visiting pages on competition products, for example, it’s safe to say they’re probably comparing features and prices.
No. 6 - Length of Stay
Depending on the structure and design of your website, customers might be able to compare the features of your products or services without having to navigate through multiple pages.
In this case, the number of pages visited is moot. Tracking the time each visitor stays on your site can give you insight into the overall usability of your website, the marketability of your products or services and the effectiveness of your promotional campaigns.
No. 7 - Value Per Visit
The final metric you need to watch is the value per visit of each user. If you really want to know if your website is effective, this is the statistic that will tell you. Unfortunately, this is also one of the most complicated metrics to determine.
A customer who purchases a product from your online storefront is adding obvious value, but comments, product reviews and even page shares add an intangible value that is difficult — if not impossible — to define.
Improving Your Website for 2018 and Beyond
While the IoT provides access to far more information than ever before, it’s critical for manufacturers to know how to interpret the raw data and turn it into relevant and usable insight.
Those who master this art form will see improved profitability, increased conversion rates and greater competitiveness in a highly dynamic and fast-paced industry.
Kayla Matthews is an independent technology writer at Productivity Bytes.