What is KPI, and how do you know if your website is working?
A simple and free way to track your website’s performance is available through Google Analytics.
With your site tied into Google Analytics, you’ll have a broad range of metrics to consider, including who visits your site, how long they stay, which pages they visit, what city they are from, what browser they are using, what pages they exit from, and other behavioral metrics. But which metrics are most important?
The six metrics below might be the key performance indicators (KPIs) to review, and apply whether your firm is an asset manager, asset gatherer, RIA, or other.
1. Page Views
Well, how many people are looking at your website pages, and what source brought them to you? Is three visits per day, or 300? For smaller and start-up investment firms, 10 per day may be a good start; for others, 10 per hour might not nearly be sufficient.
2. Traffic Sources
Page views can be fueled by email campaigns, organic searches, referrals, direct traffic (users that typed in your URL directly); and from seeing your blog posts, LinkedIn business page and posts, Facebook business page, and Twitter posts – if you have them. The quality and quality of your content on the web will impact page views.
3. Bounce Rate
The bounce rate shows if your prospects see what they came to see on your website…or if they left, or bounced, within seconds.
Duration refers to the average time visitors (including all types) spends on your site. A high bounce rate may be an indication that your content isn’t engaging or that your advertisements are misleading.
But a high bounce rate does not necessarily mean that your prospective client isn’t happy; they may have found the eBook, fact sheet, or pitch book and downloaded it immediately.
5. Blog Views
Do you have a blog? Well, no blog posts means no blog post leads. If you regularly post to your blog – perhaps up to two posts per week – your blog may produce a regular river of quailed (and, of course, some less-than-qualified) leads.
A few blogging tips: set and stick to, a consistent blogging schedule; show your company brand and personality; and think like your readers.
6. Form Submissions
A second critical way to track your firm’s site performance is to keep count of the number of potential investors who click on your landing pages. (A landing page is where your prospective new clients “land” when they respond to your free eBook, white paper, demo, or request for phone consultation on your website or blog. Each offer should have its own landing page.
The most effective landing page forms ask for the right amount of information – name, email, firm, and phone. For each additional line of information you request, you can expect fewer leads.
Effective forms are but part of the landing page, though. Headlines, content, colors, button placement and size, and calls to action (CTAs) all may impact the number of your prospective investors who submit the form for more information.
With these six metrics in your arsenal, you’ll be primed to track improvements as well as engage in effective strategies to ensure those improvements happen.