Analytics metrics have evolved over the past few years. In my last article, I discussed the dinosaur metrics that have fallen in value since the last mass extinction event. Since online marketing and digital advertising are rapidly changing, looking at outdated metrics can allow you to be completely blindsided in regards to your online revenue and profitability.
In this article, I cover the five super metrics that now dominate the analytics and marketing world. These metrics have been around forever but are more relevant today than ever. These metrics have always been are near and dear to my heart – this is not just an infatuation. They have helped me evaluate and transform hotel assets worth over $1B. So grab your cape. Let’s dive into the future.
#1: Bounce Rate
Bounce rate has been one of my personal favorites since 1999. This metric will tell you explicitly whether your design, content, navigation and marketing are working for you. It’s my ultimate reality check metric.
According to Wikipedia, bounce rate “represents the percentage of visitors who enter the site and then leave (“bounce”) rather than continuing on to view other pages within the same site.”
My personal definition for bounce rate is the failure to get your website visitor to perform any action on your website. In the case of hotel/travel websites, that action is not necessarily limited to booking. You can expect a visitor to do a number of things, including: sign up for your newsletter, check dates and rates, read blog posts, browse your photo gallery, watch a video tour, etc.
As with all super metrics, you must segment and dig deeper to get the best outcome and insights. You can segment your bounce rate by Source, such as:
- Google AdWords
- Google Display
- Direct Traffic
What’s a good bounce rate? Great question. For hotel and travel websites, anything over 40% deserves scrutiny. One exception is a blog, where most people will read your landing page and be done. But, dig deeper. How many of the bounced visitors are already subscribed to your list? Did you have a call to action on your blog post? Context is king, y’all.