This essay sheds light on why why customer-driven data is worth more than gold bullion and elucidates how companies utilize your data. Moreover, how to protect your data is delineated and how to earn substantial money online so that you can afford to pay for cloud storage services is expounded upon in this essay.
It is no surprise that customer-driven data is worth more than gold bullion in the digital era. Companies garner customer-driven data for a multitude of reasons that extends beyond the ambit of collecting data in order understand their customer’s interests and create customer profiles. Companies can also leverage customer-driven data to feed product-recommendations algorithms that are able to recommend products to customers based on the customer’s unique product browsing history and purchasing history. The value that customer-driven data provides companies extends beyond the ambit of allowing companies to collect customer-driven data to meticulously understand their customers’ buyer behavior and preferences. Customer-driven data that is utilized to generate analytical data for instance allows companies to ascertain the effectiveness of their digital marketing campaigns, advertisements, and even the stickiness of their websites. Having access to customer-driven analytical data ultimately allows companies to ascertain whether or not their marketing campaigns are effective and if their websites are deemed attract to customers.
The average website session duration that is ascertained based on customer-driven website analytical data denotes how effective your website is at keeping your visitors engaged. “The industry standard is 2-3 minutes for the average website session duration” (“7 Website Analytics,” n.d.). Customer-driven website analytical data for instance allows companies to ascertain their “website bounce rate, the average amount of web pages visited per session, the average website session duration, the conversion rate, the percentage of new website sessions, the website click through rate, and their website traffic volume. Conversion rates for instance allow companies to learn about the effectiveness of their website and marketing efforts. The Industry standard conversion rate is 2%” (“7 Website Analytics,” n.d.) and companies should make an earnest attempt to maximize their website conversion rate. The bounce rate denotes the “percentage of single-page website visits. At the website level, bounce rate is useful as a general signal of user engagement and the state of content quality, and helps to identify when problems exist on your website” (“7 Website Analytics,” n.d.). Companies should do everything in their purview to minimize their bounce rate.
Companies should strive to maximize their web “pages per session rate” (“7 Website Analytics,” n.d.) by rendering their website as sticky as possible that it is deemed appealing to customers. The web “pages per session rate broadly gauges how compelling users find your content and the ease of access. The web pages per session rate also provides an average of the number of web pages viewed during a visit on your site. The unofficial industry standard is 2 web pages per session” (“7 Website Analytics,” n.d.). Customer-driven website analytical data helps companies identify critical weakness on their websites, and that ultimately helps them be able to streamline their websites. The valuable insights that customer-driven website analytical data provides companies extends beyond the ambit of guiding necessary website improvements to enhance the online shopping experience for customers. Customer-driven analytical data also allows companies to ascertain the effectiveness of their digital marketing efforts, which helps them refine their digital marketing campaigns so that they can elicit higher click-through rates and conversion rates.