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• Benefits and Shortcomings of Multi-Touch Attribution

  13 mars 2023, par Erin — Analytics Tips

  Few sales happen instantly. Consumers take their time to discover, evaluate and become convinced to go with your offer. 

  Multi-channel attribution (also known as multi-touch attribution or MTA) helps businesses better understand which marketing tactics impact consumers’ decisions at different stages of their buying journey. Then double down on what’s working to secure more sales. 

  Unlike standard analytics, multi-channel modelling combines data from various channels to determine their cumulative and independent impact on your conversion rates. 

  The main benefit of multi-touch attribution is obvious : See top-performing channels, as well as those involved in assisted conversions. The drawback of multi-touch attribution : It comes with a more complex setup process. 

  If you’re on the fence about getting started with multi-touch attribution, here’s a summary of the main arguments for and against it. 

  What Are the Benefits of Multi-Touch Attribution ?

  Remember an old parable of blind men and an elephant ?

  Each one touched the elephant and drew conclusions about how it might look. The group ended up with different perceptions of the animal and thought the others were lying…until they decided to work together on establishing the truth.

  Multi-channel analytics works in a similar way : It reconciles data from various channels and campaign types into one complete picture. So that you can get aligned on the efficacy of different campaign types and gain some other benefits too. 

  Better Understanding of Customer Journeys 

  On average, it takes 8 interactions with a prospect to generate a conversion. These interactions happen in three stages : 

  • Awareness : You need to introduce your company to the target buyers and pique their interest in your solution (top-of-the-funnel). 
  • Consideration : The next step is to channel this casual interest into deliberate research and evaluation of your offer (middle-of-the-funnel). 
  • Decision : Finally, you need to get the buyer to commit to your offer and close the deal (bottom-of-the-funnel). 

  You can analyse funnels using various attribution models — last-click, fist-click, position-based attribution, etc. Each model, however, will spotlight the different element(s) of your sales funnel. 

  For example, a single-touch attribution model like last-click zooms in on the bottom-of-the-funnel stage. You can evaluate which channels (or on-site elements) sealed the deal for the prospect. For example, a site visitor arrived from an affiliate link and started a free trial. In this case, the affiliate (referral traffic) gets 100% credit for the conversion. 

  This measurement tactic, however, doesn’t show which channels brought the customer to the very bottom of your funnel. For instance, they may have interacted with a social media post, your landing pages or a banner ad before that. 

  Multi-touch attribution modelling takes funnel analysis a notch further. In this case, you map more steps in the customer journey — actions, events, and pages that triggered a visitor’s decision to convert — in your website analytics tool.

  

  Then, select a multi-touch attribution model, which provides more backward visibility aka allows you to track more than one channel, preceding the conversion. 

  For example, a Position Based attribution model reports back on all interactions a site visitor had between their first visit and conversion. 

  A prospect first lands at your website via search results (Search traffic), which gets a 40% credit in this model. Two days later, the same person discovers a mention of your website on another blog and visits again (Referral traffic). This time, they save the page as a bookmark and revisit it again in two more days (Direct traffic). Each of these channels will get a 10% credit. A week later, the prospect lands again on your site via Twitter (Social) and makes a request for a demo. Social would then receive a 40% credit for this conversion. Last-click would have only credited social media and first-click — search engines. 

  The bottom line : Multi-channel attribution models show how different channels (and marketing tactics) contribute to conversions at different stages of the customer journey. Without it, you get an incomplete picture.

  Improved Budget Allocation 

  Understanding causal relationships between marketing activities and conversion rates can help you optimise your budgets.

  First-click/last-click attribution models emphasise the role of one channel. This can prompt you toward the wrong conclusions. 

  For instance, your Facebook ads campaigns do great according to a first-touch model. So you decide to increase the budget. What you might be missing though is that you could have an even higher conversion rate and revenue if you fix “funnel leaks” — address high drop-off rates during checkout, improve page layout and address other possible reasons for exiting the page.

  

  By knowing when and why people abandon their purchase journey, you can improve your marketing velocity (aka the speed of seeing the campaign results) and your marketing costs (aka the budgets you allocate toward different assets, touchpoints and campaign types). 

  Or as one of the godfathers of marketing technology, Dan McGaw, explained in a webinar :

  “Once you have a multi-touch attribution model, you [can] actually know the return on ad spend on a per-campaign basis. Sometimes, you can get it down to keywords. Sometimes, you can get down to all kinds of other information, but you start to realise, “Oh, this campaign sucks. I should shut this off.” And then really, that’s what it’s about. It’s seeing those campaigns that suck and turning them off and then taking that budget and putting it into the campaigns that are working”.

  More Accurate Measurements 

  The big boon of multi-channel marketing attribution is that you can zoom in on various elements of your funnel and gain granular data on the asset’s performance. 

  In other words : You get more accurate insights into the different elements involved in customer journeys. But for accurate analytics measurements, you must configure accurate tracking. 

  Define your objectives first : How do you want a multi-touch attribution tool to help you ? Multi-channel attribution analysis helps you answer important questions such as :

  • How many touchpoints are involved in the conversions ? 
  • How long does it take for a lead to convert on average ? 
  • When and where do different audience groups convert ? 
  • What is your average win rate for different types of campaigns ?

  Your objectives will dictate which multi-channel modelling approach will work best for your business — as well as the data you’ll need to collect. 

  At the highest level, you need to collect two data points :

  • Conversions : Desired actions from your prospects — a sale, a newsletter subscription, a form submission, etc. Record them as tracked Goals. 
  • Touchpoints : Specific interactions between your brand and targets — specific page visits, referral traffic from a particular marketing channel, etc. Record them as tracked Events. 

  Your attribution modelling software will then establish correlation patterns between actions (conversions) and assets (touchpoints), which triggered them. 

  The accuracy of these measurements, however, will depend on the quality of data and the type of attribution modelling used. 

  Data quality stands for your ability to procure accurate, complete and comprehensive information from various touchpoints. For instance, some data won’t be available if the user rejected a cookie consent banner (unless you’re using a privacy-focused web analytics tool like Matomo). 

  Different attribution modelling techniques come with inherent shortcomings too as they don’t accurately represent the average sales cycle length or track visitor-level data, which allows you to understand which customer segments convert best.

  Learn more about selecting the optimal multi-channel attribution model for your business.

  What Are the Limitations of Multi-Touch Attribution ?

  Overall, multi-touch attribution offers a more comprehensive view of the conversion paths. However, each attribution model (except for custom ones) comes with inherent assumptions about the contribution of different channels (e.g,. 25%-25%-25%-25% in linear attribution or 40%-10%-10%-40% in position-based attribution). These conversion credit allocations may not accurately represent the realities of your industry. 

  Also, most attribution models don’t reflect incremental revenue you gain from existing customers, which aren’t converting through analysed channels. For example, account upgrades to a higher tier, triggered via an in-app offer. Or warranty upsell, made via a marketing email. 

  In addition, you should keep in mind several other limitations of multi-touch attribution software.

  Limited Marketing Mix Analysis 

  Multi-touch attribution tools work in conjunction with your website analytics app (as they draw most data from it). Because of that, such models inherit the same visibility into your marketing mix — a combo of tactics you use to influence consumer decisions.

  Multi-touch attribution tools cannot evaluate the impact of :

  • Dark social channels 
  • Word-of-mouth 
  • Offline promotional events
  • TV or out-of-home ad campaigns 

  If you want to incorporate this data into your multi-attribution reporting, you’ll have to procure extra data from other systems — CRM, ad measurement partners, etc, — and create complex custom analytics models for its evaluation.

  Time-Based Constraints 

  Most analytics apps provide a maximum 90-day lookback window for attribution. This can be short for companies with longer sales cycles. 

  

  Marketing channels can be overlooked or underappreciated when your attribution window is too short. Because of that, you may curtail spending on brand awareness campaigns, which, in turn, will reduce the number of people entering the later stages of your funnel. 

  At the same time, many businesses would also want to track a look-forward window — the revenue you’ll get from one customer over their lifetime. In this case, not all tools may allow you to capture accurate information on repeat conversions — through re-purchases, account tier updates, add-ons, upsells, etc. 

  Again, to get an accurate picture you’ll need to understand how far into the future you should track conversions. Will you only record your first sales as a revenue number or monitor customer lifetime value (CLV) over 3, 6 or 12 months ? 

  The latter is more challenging to do. But CLV data can add another depth of dimension to your modelling accuracy. With Matomo, you set up this type of tracking by using our visitors’ tracking feature. We can help you track select visitors with known identifiers (e.g. name or email address) to discover their visiting patterns over time. 

  

  Limited Access to Raw Data 

  In web analytics, raw data stands for unprocessed website visitor information, stripped from any filters, segmentation or sampling applied. 

  Data sampling is a practice of analysing data subsets (instead of complete records) to extrapolate findings towards the entire data set. Google Analytics 4 applies data sampling once you hit over 500k sessions at the property level. So instead of accurate, real-life reporting, you receive approximations, generated by machine learning models. Data sampling is one of the main reasons behind Google Analytics’ accuracy issues. 

  In multi-channel attribution modelling, usage of sampled data creates further inconsistencies between the reports and the actual state of affairs. For instance, if your website generates 5 million page views, GA multi-touch analytical reports are based on the 500K sample size aka only 90% of the collected information. This hardly represents the real effect of all marketing channels and can lead to subpar decision-making. 

  With Matomo, the above is never an issue. We don’t apply data sampling to any websites (no matter the volume of traffic) and generate all the reports, including multi-channel attribution ones, based on 100% real user data. 

  AI Application 

  On the other hand, websites with smaller traffic volumes often have limited sampling datasets for building attribution models. Some tracking data may also be not available because the visitor rejected a cookie banner, for instance. On average, less than 50% of users in Australia, France, Germany, Denmark and the US among other countries always consent to all cookies. 

  To compensate for such scenarios, some multi-touch attribution solutions apply AI algorithms to “fill in the blanks”, which impacts the reporting accuracy. Once again, you get approximate data of what probably happened. However, Matomo is legally exempt from showing a cookie consent banner in most EU markets. Meaning you can collect 100% accurate data to make data-driven decisions.

  Difficult Technical Implementation 

  Ever since attribution modelling got traction in digital marketing, more and more tools started to emerge.

  

  Most web analytics apps include multi-touch attribution reports. Then there are standalone multi-channel attribution platforms, offering extra features for conversion rate optimization, offline channel tracking, data-driven custom modelling, etc. 

  Most advanced solutions aren’t available out of the box. Instead, you have to install several applications, configure integrations with requested data sources, and then use the provided interfaces to code together custom data models. Such solutions are great if you have a technical marketer or a data science team. But a steep learning curve and high setup costs make them less attractive for smaller teams. 

  Conclusion 

  Multi-touch attribution modelling lifts the curtain in more steps, involved in various customer journeys. By understanding which touchpoints contribute to conversions, you can better plan your campaign types and budget allocations. 

  That said, to benefit from multi-touch attribution modelling, marketers also need to do the preliminary work : Determine the key goals, set up event and conversion tracking, and then — select the optimal attribution model type and tool. 

  Matomo combines simplicity with sophistication. We provide marketers with familiar, intuitive interfaces for setting up conversion tracking across the funnel. Then generate attribution reports, based on 100% accurate data (without any sampling or “guesstimation” applied). You can also get access to raw analytics data to create custom attribution models or plug it into another tool ! 

  Start using accurate, easy-to-use multi-channel attribution with Matomo. Start your free 21-day trial now. No credit card requried. 

• Strategies for Reducing Bank Customer Acquisition Cost [2024]

  24 septembre 2024, par Daniel Crough — Banking and Financial Services

  Acquiring new customers is no small feat — regardless of the size of your team. The expenses of various marketing efforts tend to pile up fast, even more so when your business operates in a highly competitive industry like banking. At the same time, marketing budgets continue to decrease — dropping from an average of 9.1% of total company revenue in 2023 down to 7.7% in 2024 — prompting businesses in the financial services industry to figure out how they can do more with less.

  That brings us to bank customer acquisition cost (CAC) — a key business metric that can reveal quite a bit about your bank’s long-term profitability and potential for achieving sustainable growth. 

  This article will cover the ins and outs of bank customer acquisition costs and share actionable tips and strategies you can implement to reduce CAC.

  What is customer acquisition cost in banking ? 

  

  The global market volume of neobanks — fintech companies and digital banking platforms, often referred to as “challenger banks” — was estimated at $4.96 trillion in 2023. It’s expected to continue growing at a compound annual growth rate (CAGR) of 13.15% in the coming years, potentially reaching $10.44 trillion by 2028.

  That’s enough of an indicator that the financial services industry is now a highly competitive landscape where companies are often competing for the attention of a relatively limited audience. 

  Plus, several app-only banks based in Europe have made significant progress in attracting new customers to their financial products : 

  

  Unsurprisingly, this flurry of competition is putting upward pressure on customer acquisition and retention costs across the banking sector.

  Customer acquisition cost (CAC) — the sum of all costs and resources related to acquiring an additional customer — is one of the key business metrics to keep an eye on when trying to maximise your return on investment (ROI) and profitability, especially if your company operates in the banking industry.

  Here’s the basic formula you can use to calculate the cost of acquisition in banking : 

  Customer Acquisition Cost (CAC) = Total Amount Spent (TS) / Total New Customers Acquired (TNC)

  In essence, it requires you to divide the total cost of acquiring consumers — including sales and marketing expenses — by the total number of new customers your company has gained within a specific timeframe.

  There’s one thing you need to keep in mind : 

  The customer acquisition process involves more than just your marketing and sales departments. 

  While marketing and sales channels play a crucial role in this process, the list of expenses that may contribute to customer acquisition costs in banking goes well beyond that. 

  Here’s a quick breakdown of the customer acquisition cost formula to show you which costs make up the total amount spent : 

  • All advertising and marketing costs, including traditional (direct mail, billboards, TV and print advertising) and digital channels (email, Google ads, social media and influencer marketing)
  • Cost of outsourced marketing services, including any independent contractors involved in the process 
  • Salaries and commissions for the marketing team and sales representatives
  • Software subscriptions, including marketing software and web analytics tools 
  • Other overhead and operational costs 

  And until you’ve taken all these expenses into account, you won’t be able to accurately estimate how much it actually costs you to attract potential customers.

  Another thing to keep in mind is that there’s no universal definition of “good CAC.” 

  The average customer acquisition cost varies across different industries and business models. That said, you can generally expect a higher-than-average CAC in highly competitive sectors — namely, the financial, manufacturing and real estate industries. 

  Importance of tracking customer acquisition cost in banking 

  

  Customer acquisition costs are an important indicator of a banking business’s potential growth and profitability. Monitoring this fundamental business metric can provide data-driven insights about your current bank customer acquisition strategy — and offers a few notable benefits : 

  • Measuring the performance and effectiveness of different channels and campaigns and making data-driven decisions regarding future marketing efforts
  • Improving return on investment (ROI) by determining the most effective strategies for acquiring new customers 
  • Improving profitability by assessing the value per customer and improving profit margins 
  • Benchmarking against industry competitors to see where your business’s CAC stands compared to the banking industry average

  At the risk of stating the obvious, acquiring new customers isn’t always easy. That’s true for many highly competitive industries — especially the banking sector, which is currently witnessing the rapid rise of digital disruptors. 

  Case in point, the fintech market alone is currently valued at $312.98 billion and is expected to reach $556.70 billion by 2030, following a CAGR of 14%.

  

  However, strong competition is only one of the challenges banks face throughout the process of attracting potential customers. 

  Here are a few other things to keep in mind : 

  • Ethical business practices and strict compliance requirements when it comes to the privacy and security of customer data, including meeting data protection standards and ensuring regulatory compliance
  • Lack of personalisation throughout the customer journey, which today’s customers view as a lack of understanding of — and even interest in — their needs and preferences 
  • Limited mobile banking capabilities, which further points to a failure to innovate and adapt — one of the leading risks that financial services may face 

  7 strategies for reducing bank customer acquisition costs 

  

  When working on optimising your banking customer acquisition strategy, the key thing to keep in mind is that there are two sides to improving CAC : 

  On the one hand, you have efforts to decrease the costs associated with acquiring a new customer — and on the other, you have the importance of attracting high-value customers. 

  1. Eliminate friction points in the customer onboarding process

  One of the first things financial institutions should do is examine their existing digital onboarding process and look for friction points that might cause potential customers to drop off. After all, a streamlined onboarding process will minimise barriers to conversion, increasing the number of new customers acquired and improving overall customer satisfaction. 

  Keep in mind that, at the 30-day mark, finance mobile apps have an average user retention rate of 3% : 

  

  That says a lot about the importance of providing a frictionless onboarding experience as a retail bank or any other financial institution. 

  Granted, a single point of friction is rarely enough to cause customers to churn. It’s typically a combination of several factors — a lengthy sign-up process with complicated password requirements and time-consuming customer identification or poor customer service, for example — that occur during the key moments of the customer journey.

  In order to keep tabs on customer experiences across different touchpoints and spot potential barriers in their journey, you’ll need a reliable source of data. Matomo’s Funnels report can show you exactly where your website visitors are dropping off. 

  2. Get more personalised with your marketing efforts 

  Generic experiences are rarely the way to go — especially when you’re contending for the attention of prospective customers in such a competitive sector. 

  Besides, 62% of people who made an online purchase within the last six months have said that brands would lose their loyalty following a non-personalised experience. 

  What’s more shocking is that only a year earlier, that number stood at 45%.

  

  When it comes to improving marketing efficiency and sales strategies, 94% of marketers agree that personalisation is key : 

  

  It’s evident that personalised marketing supported by behavioural segmentation can significantly improve conversion rates — and, most importantly, reduce acquisition costs. 

  Of course, it’s virtually impossible to deliver targeted, personalised marketing messaging without creating audience segments and detailed buyer personas. Matomo’s Segmentation feature can help by allowing you to split website visitors into smaller groups and get much-needed insights for behavioural segmentation. 

  3. Build an omnichannel marketing strategy 

  Customer expectations, behaviours and preferences are constantly evolving, making it crucial for financial services to adapt their customer acquisition strategies accordingly. Meeting prospective customers on their preferred channels is a big part of that. 

  The issue is that modern banking customers tend to move across different channels. That’s one of the reasons why it’s becoming increasingly more difficult to deliver a unified experience throughout the entire customer journey and close the gap between digital and in-person customer interactions. 

  Omnichannel marketing gives you a way to keep up with customers’ ever-evolving expectations :

  Adopting this marketing strategy will allow you to meet customers where they are and deliver a seamless experience across a wide range of digital channels and touchpoints, leading to more exposure — and, ultimately, increasing the number of acquired customers.

  Matomo can support your omnichannel efforts by providing accurate, unsampled data needed for cross-channel analytics and marketing attribution. 

  4. Work on your social media presence 

  Social networks are among the most popular — and successful — digital marketing channels, with millions (even billions, depending on the platform) of active users. 

  In fact, 89% of marketers report using Facebook as their main platform for social media marketing, while another 80% use Instagram to reach their target audience and promote their business. 

  

  And according to The State of Social Media in Banking 2023 report, nine out of ten banks (89%) consider social media is important, while another 88% are active on their social media accounts. 

  That is to say, even traditionally conservative industries — like banking and finance — realise the crucial role of social media in promoting their services and engaging with customers on their preferred channels : 

  It’s an excellent way for businesses in the financial sector to gain exposure, drive traffic to their website and acquire new customers. 

  If you’re ready to improve social media visibility as part of your multichannel efforts, Matomo can help you track social media activity across 70 different platforms. 

  5. Shift the focus on customer loyalty and retention 

  Up until this point, the focus has mainly been on building new business relationships. However, one thing to keep in mind is that retaining existing customers is generally cheaper than investing in customer acquisition activities to attract new ones. 

  Of course, customer retention won’t directly impact your CAC. But what it can do is increase customer lifetime value, contributing to your company’s revenue and profits — which, in turn, can “balance out” your acquisition costs in the long run.

  That’s not to say that you should stop trying to bring in new clients ; far from it. 

  However, focusing on increasing customer loyalty — namely, delivering excellent customer service and building lasting business relationships — could motivate satisfied customers to become brand advocates. 

  As this survey of customer satisfaction for leading banks in the UK has shown, when clients are satisfied with a bank’s products and services, they’re more likely to recommend it. 

  

  Positive word-of-mouth recommendations can be a powerful way to drive customer acquisition. You can leverage that by launching a customer referral program and incentivising loyal customers to refer new ones to your business. 

  6. A/B test different elements to find ones that work 

  We’ve already underlined the importance of understanding your audience ; it’s the foundation for optimising the customer journey and delivering targeted marketing efforts that will attract more customers. 

  Another proven method that can be used to refine your customer acquisition strategy is A/B or split testing. 

  It involves testing different versions of specific elements of your marketing content — such as language, CTAs and visuals — to determine the most effective combinations that resonate with your target audience. 

  Besides your marketing campaigns, you can also split test different variants of your website or mobile app to see which version gets them to convert. 

  Matomo’s A/B Testing feature can be of huge help here : 

  

  7. Track other relevant customer acquisition metrics 

  To better assess your company’s profitability, you’ll have to go beyond CAC and factor in other critical metrics — namely, customer lifetime value (CLTV), churn rate and return on investment (ROI). 

  Here are the most important KPIs you should monitor in addition to CAC : 

  • Customer lifetime value (CLTV), which represents the revenue generated by a single customer throughout the duration of their relationship with your company and is another crucial indicator of customer profitability 
  • Churn rate — the rate at which your company loses clients within a given timeframe — can indicate how well you’re retaining customers 
  • Return on investment (ROI) — the revenue generated by new clients compared to the initial costs of acquiring them — can help you identify the most effective customer acquisition channels 

  These metrics work hand in hand. There needs to be a balance between the revenue the customer generates over their lifetime and the costs related to attracting them.

  Ideally, you should be aiming for lower CAC and customer churn and higher CLTV ; that’s usually a solid indicator of financial health and sustainable growth. 

  Lower bank customer acquisition costs with Matomo 

  Acquiring new customers will require a lot of time and resources, regardless of the industry you’re working in — but can be even more challenging in the financial sector, where you have to adapt to the ever-changing customer expectations and demands. 

  The strategies outlined above — combined with a thorough understanding of your customer’s behaviours and preferences — can help you lower the cost of bank customer acquisition.

  On that note, you can learn a lot about your customers through web analytics — and use those insights to support your customer acquisition process and ensure you’re delivering a seamless online banking experience. 

  If you need an alternative to Google Analytics that doesn’t rely on data sampling and ensures compliance with the strictest privacy regulations, all while being easy to use, choose Matomo — the go-to web analytics platform for more than 1 million websites around the globe. 

  CTA : Start your 21-day free trial today to see how Matomo’s all-in-one solution can help you understand and attract new customers — all while respecting their privacy. 

• Increasing Website Traffic : 11 Tips To Attract Visitors

  25 août 2023, par Erin — Analytics Tips, Marketing

  For your website and business to succeed, you need to focus on building traffic.

  However, you aren’t the only one with that goal in mind.

  There are millions of other websites trying to increase their traffic as well. With that much competition, it’s important to make sure your website stands out. Accomplishing that can require a great deal of strategy.

  We’ve compiled a list of tips to help you develop a solid plan for increasing website traffic, to expand your reach, grow your audience and boost customer engagement levels — creating more opportunities for your business.Using these tips, more visitors will find their way to your website — meaning more customers for your business.

  Why is website traffic important ?

  Website traffic is essentially the number of people visiting your website. When someone lands on your site, they’re considered a visitor and increase your website traffic. 

  When your website traffic is high, you’ll get more clicks, customer interactions and brand engagement. As a result, search engines will have a positive impression of your website and send more people there, meaning even more people will see your content and have the opportunity to buy your product.

  When using a website for your business or any other venture, tracking your website traffic using a web analytics solution like Matomo is critical.

  

  With over 200 million actively maintained and visited websites in 2023, it’s important to make sure yours stands out if you want to increase your website traffic and grow your online presence. 

  11 tips for increasing website traffic

  Here are 11 tips to increase your organic traffic and elevate your business.

  1. Perfect your SEO

  Optimising your website to show up in search engine results shouldn’t be overlooked, as 63% of consumers start researching a product by using a search engine. Search engine optimisation, or SEO, increases the visibility and discoverability of your website on search engine results pages (SERPs). SEO targets organic searches, which means it doesn’t add to social media traffic, direct traffic or referrals, and it isn’t paid traffic.

  SEO is number one on this list for a reason — most of these tips will directly, or indirectly, improve your SEO efforts. 

  Steps to improve your search engine optimisation can include :

  • Using relevant keywords that are incorporated naturally throughout your content
  • Using a web analytics tool like Matomo, with its search keyword feature, to gain insights and identify opportunities for improvement
  • Using descriptive meta titles and meta descriptions
  • Link to your own content internally with descriptive anchor tags, and make sure unused pages are removed 
  • Keeping your target audience in mind and marketing your content toward them
  • Making sure your website’s structure is optimised to be mobile-friendly, fast and responsive — such as with Matomo’s SEO Web Vitals feature, which monitors key metrics like your website’s page speed and loading performance, pivotal for optimising search engine results

  2. Research the competition

  It’s important to remember that while your business might be unique, it’s likely not the only one in its field. Thousands of other websites from other companies are also looking to improve their website traffic and increase sales, and you have to outcompete them.

  Looking at what your competitors are doing is vital from a strategic perspective. You can see what their content looks like, how they’re framing their specific use cases and what target audience they’re marketing toward.

  Knowing what your competitors are doing can help you find ways to improve your content and make it unique. Are your competitors missing a specific use case or neglecting a particular audience ? Fill in their content gaps on your website, and pick up the traffic they’re missing.

  3. Create high-quality, evergreen content

  If your content is high-quality, visitors will read more of it and stay longer on your site. This obviously increases the likelihood they will purchase your product or service, and it tells search engines that your website is a good answer for a search query.

  High-quality content will also be shared more often, leading to even more website traffic. You should aim to develop content that doesn’t lose relevance over time (aka “evergreen content”). If you include time-sensitive data, statistics or content in your website, blog posts or articles, it’ll be relevant only around that time frame. 

  While this month’s viral content is highly popular, it likely won’t be relevant in a few months. Instead, if you ensure your content is evergreen, it will continue to get engagement long after it’s published.

  4. Implement creative visuals

  It’s important to have engaging, fun and interactive media on your website to keep visitors on your site longer. Like good content, interesting visuals (and the resulting longer visits) can translate to more purchases (and favourable assessments by search engines).

  

  Media can take the form of videos, infographics, images or web graphics. 

  With Matomo’s Media Analytics feature, you can automatically gain even deeper insights into how your visitors engage with your media content, enhancing your understanding of their preferences and behaviours.

  If you have interesting, captivating visuals, visitors will be more likely to stay on your website longer and see what you have to offer. Without captivating visuals to break up walls of text, you’ll likely find visitors will tend to leave your site in favour of something more engaging.

  Just make sure you design your visuals with your target audience in mind. Flashy, fun graphics might not be a good fit for a professional audience, but they’re great for younger audiences. If you get your audience correct, they may also share the images with others. Depending on your business, that might be a useful infographic shared across LinkedIn, or a picture of a clever use case shared on Pinterest. 

  As a bonus, if other companies use your graphics on their websites, that earns you some backlinks — more on those in a bit.

  5. Create a comprehensive knowledge base

  Having a knowledge base is critical to making sure your service or product is well understood and well documented, especially in the tech industry. If a visitor or potential customer is interested in your product or service, they need to know exactly what it will do for them and that they have a good foundation of support in case they need help. A knowledge base is also a good place for internal links (more on those in a bit).

  Visitors can also use your knowledge base as a source of information, and if they cite you as a source, that’ll lead right back to more website traffic for you (see our backlinks section for more about this). If your website is a good source of information, visitors will come back to it again and again.

  6. Use social media often and consistently

  Digital marketing nowadays heavily relies on social media platforms. Having an online presence no longer means just having a website — if you’re not using social media sites, you’re missing out on a huge portion of potential visitors and customers.

  A strong social media presence with profiles on platforms like Facebook, X (formerly Twitter), Instagram or LinkedIn can be invaluable for increasing your website traffic. Visitors to your social media profiles will click on regularly shared content, read your blog posts and possibly become customers.

  Participating in relevant communities and networking with other companies in groups in your industry can also be invaluable. If you participate in online communities and forums for your niche, you can offer insight, answer questions and plug your website. All of this will increase your clicks, which will increase your website traffic.

  If you’ve managed to build your own community on social media, make sure to keep them engaged ! Implementing your own forum, hosting live chats and Q&As, offering helpful and engaging content will make sure visitors keep coming back and spreading the word. 

  7. Use email marketing or newsletters

  Having an email list and sending marketing emails or newsletters is a great way to increase website traffic. You can offer exclusive content, and promise discounts or resources to your subscribers for when they return to your website. This will help keep your loyal audience engaged, entice new customers to subscribe to your newsletter, give you a chance to upsell to people who have already expressed an interest in your product and potentially convert curious subscribers into customers.

  8. Make sure your content can earn backlinks

  A backlink is when a website links to a different website — ideally using relevant anchor text — and it’s an effective strategy for increasing referral traffic, that is, visitors who get to your website via a link on another website. The more backlinks you have, the more your referral traffic will increase. Social share buttons make it easy for people to cite you on social platforms, too. 

  We’ve already talked about making expert content that’s link-worthy, but also make sure that you’re creating linkable assets (like those interesting visuals mentioned earlier), building relationships with other sites that will link to you (like by inviting an expert or influencer to write on your page and promote it from their platform, or by writing your own guest content for their sites) and sharing your own content. All of this can help increase your referral traffic, particularly when you’re linked from websites with a higher domain authority than you have.

  You can also make sure your website is listed in online directories. Some sites will do interviews and roundups, as well — these are great opportunities to increase your backlinks.

  9. Optimise your CTR

  Click-through rate, or CTR, is the percentage of users who click on specific links to your website. A high CTR means your visitors are following a link — whether in an advertisement, a search result or a social media post — and a low CTR means they’re passing it by. Optimising your CTR can greatly improve your website traffic.

  To improve CTR, identify successful elements such as copy, imagery, and offers in your ads, enabling you to amplify effective elements and minimise less impactful ones.

  10. Ensure your website is responsive and mobile-friendly

  If a visitor is frustrated by your site being slow, laggy, clunky or not mobile-friendly, they won’t stay long. That doesn’t look good to search engines if that’s how your visitors got there. Your website needs to be clean, responsive, user-friendly and accessible.

  If your website is slow, try increasing your website’s performance by :

  • Optimising images : Reduce the size of images and compress them for faster load times. Opt for JPEG format for photos and PNG format for graphics. 
  • Limit the use of plugins : If you are using a CMS like WordPress, consider removing plugins that are unnecessary or not essential.
  • Embrace lazy loading : To further enhance site speed and reduce initial load times, set up your site to load images and content only as visitors scroll down. Prioritising the content and images at the top of the page makes the site feel faster. Some CMS platforms will offer this option, but others may require a bit of coding to set this up. 

  Many people rely on their phones to research services or products, especially if they’re doing a quick search. Make sure your website is friendly to mobile users. It should scale vertically and scroll smoothly so users aren’t frustrated when using your site. They should be able to find the info they need immediately without any technical issues.

  11. Track your website’s metrics

  As you test out each of these strategies to increase your web traffic, don’t forget to closely analyse the performance of your site. To truly understand the impact of your efforts, you’ll need a reliable web analytics solution. Think of a dependable web analytics solution as your website’s GPS. Without it, you’d be lost, unsure of your direction and missing out on valuable insights to steer your growth.

  Matomo is a powerful web analytics tool that can help you do just that by providing information on your site visitors and campaign performance, complemented by an array of behavioural analytics features that delve into user interactions. Among these, our heatmap feature stands out, enabling greater insights into user interactions and optimisation of your site’s effectiveness.

  

  Google Analytics is another powerful analytics option, though it has challenges with data accuracy ; there are multiple other web analytics solutions as well.

  Regardless of what web analytics solution you choose, the process of analysing your website metrics is incredibly important for identifying areas of improvement to increase website traffic.

  Increasing your web traffic is a process

  Increasing website traffic isn’t something you accomplish overnight. It’s a comprehensive, ongoing endeavour that requires constant analysis and fine-tuning. 

  By applying these tips to create consistent, high-quality content that gets spotlighted on search engines, shared on social media and returned to again and again, you’ll see a steady stream of increased traffic. 

  With Matomo, you can understand your visitor behaviour to see what works and what doesn’t as you work to increase your website traffic. Get your free 21-day trial now. No credit card required.