A new study launches today, backed by Site Intelligence, which shows that companies investing in web analytics can increase online conversion rates from 2% to 7%. The research also highlights 76% improved year-on-year conversion rates; with on average, conversion and revenue per visit increasing by 3% each year and customer profitability increasing by 4%.

The study by leading research company Aberdeen Group can be downloaded from the Site Intelligence website www.site-intelligence.co.uk
Other findings from the report show that Best-in-Class companies share common characteristics such as:

• 69% have a process for disseminating online data to key personnel in the organization
• 68% have defined performance metrics to measure online success

The key actions that come out of the report show that in order to become a Best-in-Class business companies must:

• Track ROI: 63% of Best-in-Class companies, compared to 31% of all others, track and measure the ROI from their web analytics solution. As is the case with any initiative, companies must ensure that they have a clear understanding of the benefits delivered before, during and after implementation.
• Solicit feedback from executive-level champions on the business value of web analytics. While the support of senior management is crucial to the success of an initiative, feedback regarding the value delivered is just as important. Companies should also link revenue or cost goals with metric reporting to help senior management understand the value of the analytics.

David Pool, Commercial Director at Site Intelligence, comments: “A key challenge for businesses is to ensure the right information reaches the right segment of business so they can put in strong action plans to improve sales and profitability.”

Published on: 3:47PM on 14th October 2009