Using Google Analytics is beneficial for small businesses to determine how to drive revenue through online presence. Google Analytics is a tool that tracks data and then presents that data in easy-to-understand reports. This data is a powerful tool for small business owners because it can validate existing online strategies or point out a need for change.
Google Analytics uses a tracking code embedded in a site’s URL to collect data. Once the user enables the tracking code, the next step is to configure organizations, properties, accounts, and views. These settings determine how Google Analytics collects data from the website, and the data being collected cannot be modified retroactively.
The sample dashboard below is an example of the home page of Google Analytics. The dashboard is customized by adding or removing certain widgets, so only relevant information is displayed. For instance, the dashboard can be configured to show demographic information, the number of user sessions, or mobile visits to the website.
However, the data collected is only useful if it is relevant to the business’s goals. As a result, it is important to use key performance indicators (KPI) to determine how data is collected. KPIs are broken down into macro and micro conversions. An example of a macro conversion would be the purchase of a product from an online store. An example of a micro conversion would be a customer signing up to receive a newsletter. In essence, micro conversions are the steps taken to achieve the macro conversion. As a result, it is important to configure Google Analytics to track both macro and micro conversions.
Course of Action
The 40TUDE team has developed an actionable plan to implement Google Analytics for small businesses:
- Determine a goal
- Select a conversion metric (KPI)
- Determine audience segmentation (demographics, browser, device type, source/medium)
- Analyze conversion metric in source/medium tab
- Utilize the admin feature to create new channels to add customization
The 40TUDE team uses these steps to track relevant data for small businesses and uses the data to drive decision-making.
