Web analytics remains big business in the US. The San Jose/Silicon Valley Business Journal recently quoted a Forrester Research analyst as saying web analytics generates $500 billion to $600 billion worth of annual revenue in the US and is growing at double-digit rates. While Forrester does not break down how much of that growth is being produced by SMB customers, the SMB market certainly has plenty of need for managed web analytics services. Here's why.
As pointed out in a recent press release from web analytics solutions provider VisiStat, while web analytics can help a business of any size, it can have an especially dramatic impact on SMBs by reducing wasteful spending, increasing marketing efficiencies, increasing sales opportunities, and maximizing overall website effectiveness.
In particular, web analytics solutions can act as a “translator” for SMBs who lack the in-house expertise to sift through raw data and glean actionable insights that can make the difference in competing with larger rivals. And even large companies with established in-house analytical competencies can experience difficulty in sorting and classifying the exponentially growing reams of data that almost every company of any size now collects.
Most SMBs simply are not capable of effectively analyzing the data they collect every minute of every day. Many of these companies simply dump all their data into what amounts to “black hole” databases, where raw data sits unanalyzed and unused. Web analytics solutions allow companies to automate data sorting, classification and analysis, applying customized rules and exception-based reporting to only flag pieces of data that possess specific qualities a user wants to study in detail.
Web Analytics Ideal for MSPsWeb analytics solutions are also typically complex, involving dense algorithms and potentially substantial customization and tailoring. In other words, they are an ideal solution for MSPs to implement and host for SMBs who lack the time, knowledge and manpower to handle those tasks themselves.
To date, most substantial web analytics implementations have been performed by larger enterprises, meaning if you have SMB clients, most likely they do not currently use web analytics. Here are a few tips on identifying SMBs who may be especially in need of managed web analytics:
- SMBs who gather and/or store large volumes of data;
- SMBs who directly deal with consumers, such as retailers;
- SMBs who must track and comply with complex regulations, such as importer/exporters; and
- SMBs who sell a wide variety of products.
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