Metrics. How Does it All Measure Up?Posted: April 4, 2012
A metric in its most basic form is a standard of measurement. A metric then allows a researcher to standardize his analysis on a given topic. This allows researchers to compare studies from different cases. When one is researching web metrics he is usually seeking different measurements that can tell him how well a website is performing in comparison to other websites. In order to successfully gage a website’s viability one should conduct proper web analyses. Web analysis according to the knowledgeable guys over at the DAA (Digital Analytics Association) is the measurement, collection, analysis and reporting of Internet data for the proposes of understanding and optimizing Web usage. I encourage you to follow the link provided below to the google analytics page. Google has packaged every metric needed for understanding and optimizing a website. Users wanting to gage the success of their Facebook pages can refer to Facebook Insights for detailed Facebook specific metrics.
Wake up, look around. Every startup, every restaurant, bakery, babysitter, non profit to multibillionaire organizations have some sort of web presence. Some of these organizations can’t even tell you why they have a web presence all they know is their competitors seem to have one. Understanding how all the metrics add up will lead to more optimal usage of your website and perhaps more revenue as well. Researching metrics can become overwhelming for a website manager due to the amount of information a site can collect from each visitor. Before you begin it’s important to note what to track and measure. Maybe you want to sell ad space on your startup company’s website. Understanding and improving your metrics can boost your value to advertisers. Information like website traffic, website referrals, average click through on content, how users navigate through your website, what stories are viewed the longest or viewed the most are valuable and can be utilized to influence strategy and increase value. Below is an example of the type of data that can be gained by researching your company’s website.
Metrics available today are updated in real time. Those metrics really become useful when a company can apply context to the quantitative data. Companies can improve their online presence and perhaps increase revenue with algorithms created from specific metrics. For example, when an individual is referred to a story on your page from a friend on Facebook and spends 10 minutes on the page that might maybe a success to you if you are an online newspaper and your main goal right now is to drive views to web stories. That would look something like (Referred from Facebook)*(10>Mins)= success. If you get success thousands or millions of times you know that that strategy is working. Advertisers then can see thousands or millions of views times 10 minutes as an opportunity to deliver related advertisement with that same data.
Numbers don’t lie.