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Understanding purchase latency, the number of days between purchase events, is essential to any customer retention strategy.
If you know how typical customers behave you can identify those who are likely to defect when they don't purchase again within the average latency period, using so-called trip wire events.
If you can re-engage customers before they defect, you'll retain them longer and your revenues will rise.
As a web analyst, I have been playing around with Google Analytics for many years now and have increasingly enjoyed watching and waiting for new features that a)add better ability to gain insight about a web business and b) make my life easier!
Features such as custom variables and event tracking have been an absolute gift in terms of being able to understand who visits my clients’ websites, which features are interacted with and what value this delivers my clients.
Frustratingly of course, there are areas where things could just be a little bit better and that’s where (in all honesty) we get to have some fun by re-working the way Google Analytics delivers data by creating hacks and being creative with filters.
According to a recent Econsultancy report, the proportion of companies exclusively using Google Analytics for their analytics needs has risen to 44%, compared to 38% last year and 23% in 2009.
Our Online Measurement and Strategy Report 2011, produced in association with Lynchpin, looks at the extent to which companies are using Google Analytics, paid for analytics tools, and which tools they are using for which reporting requirements.
Below, we include some charts from the report and also some opinions on whether Google Analytics can meet all your needs.
Not since Google plumped for pay-per-click sponsored listings in 2000 has ‘The Big G’ made a decision as strategically significant as its recent commitment to path-to-conversion reporting in the guise of ‘Multi-Channel Funnels'.
In my experience, the day of the week and hour of the day at which marketing emails are sent is often based on little more than the gut feeling of the email marketer and the performance of previous emails, rather than real data.
As someone who could put the anal in analytics, I think that's a rather inexact science. Surely there's a more accurate way to figure out whether the assumption is really true?
Some call it multi-touch attribution, others call it engagement mapping. Google calls it Multi-Channel Funnels and it has to be one of the biggest talking points in online marketing measurement circles today.
Whatever you want to call it, it is now live in limited pilot for some lucky Google Analytics customers.
In today's competitive market, building a great technology company requires great ideas, great execution and great intellectual property.
Increasingly, however, it also requires something else: a great number of attorneys.
Chris Lake's earlier post How Econsultancy measures Twitter via Google Analytics gave some great insight into how Econsultancy was already tracking Twitter, and what trends it was observing.
However, inward traffic is only part of the picture, and with some additional tweaks it's possible to get a shedload of additional data on Twitter usage which could be used to further improve social media performance.
It has been a couple of years since we really started to make the most out of Twitter. Since then we have experimented with a live Twitter feed on our homepage and alongside our blog articles. We have hired a dedicated social media producer. And most recently we joined the Twitter Promoted Products beta.
I don’t want to talk about Promoted Products just yet, as we’re still making sense of things, but we’ve been using Google Analytics to measure Twitter since we started the @econsultancy account and I have a few insights to share. And some numbers too...
Many of us use Google Analytics as our day-to-day analysis and reporting tool, it's provided enterprise level analytics to everyone, and turned a legion of website owners into quasi-statisticians.
However, it's not without its flaws and weaknesses. As I've been a Good Boy this year, here are the ten things I'd love to have from Google Analytics for Christmas.
Google Analytics is used by a significant number of online publishers and businesses to track how internet users are interacting with their websites.
But data is data, and visualizing how Google Analytics data relates to specific pages can be a difficult task. So last week, Google launched In-Page Analytics, which it hopes will make Analytics more useful by adding "visual context" to data.
It would have been easy for Google Analytics to reveal how much traffic Google Instant is driving, but Google seems to be keeping this information under wraps.