Understanding the performance of your bank or credit union website is critical for determining if you need fresh design or content and if you’re effectively reaching the right audience. You can easily do this using Google Analytics, and you don’t need to be a web developer or have a technical background to use it. We’re going to help you understand what Google Analytics is, how to install it on your site, and how to use the software the generate useful information about your bank website.
Google Analytics is free software that you install on your website to analyze your web traffic. The collected data measures four key areas: audience, acquisition, behavior, and conversions.
Audience information provides demographic and psychographic insights about your customers, such as age, gender, geographic location, interests, and the type of device they use to view your site. Acquisition metrics report the search terms customers use to discover your website and how they’re directed to your site, such as a search engine, digital ad, or social media link. Behavior measures how customers interact with your site, such as how much time they spend on your website, the number of screens or pages they visit, and multimedia usage. Conversions track the achievement of your defined sales goals, including completing online applications, downloading documents, and submitting contact information.
To use Google Analytics, you’ll need to sign up for an account and obtain a tracking ID to paste into the HTML code of your bank website. If you already have a Google sign-in, such as a Gmail account, you can log into Google Analytics. However, rather than using your personal account, best practice is to set up a business account. Furthermore, don’t share your account login with a third-party vendor who may otherwise have access to your website, and don’t allow them to set up the account for you. If necessary, you can always grant them limited access to your Google Analytics.
Once you’ve logged into your account, you will need to enter information about your bank website and agree to Google’s terms and conditions to obtain your tracking code. You’ll need to copy and paste the code into every page of your website that you want to track. The final step is to define and set up your goals so you can begin analyzing your web data.
After you’ve set your goals, you can generate reports based on the four categories we mentioned earlier. You can use this information to create impactful content that will increase conversions. For example, if your website is experiencing a high bounce rate, Google Analytics will report which pages are the most problematic so that you can optimize them. By gaining better knowledge of who your customers are and how they access your bank website, you can create more effective marketing and advertising campaigns. Knowing what type of device your customers are using to access your site can assist you with the design and content of your website.
Monitoring the performance of your bank website with Google Analytics will help you increase conversions and create content that solidifies customer relationships. It can also allow you to glean insights about your customers to develop better products and services in the future. After you set up your Google Analytics account, our BankSITE® Services web development team can help you install the tracking code on your bank website so you can begin gathering data immediately.