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Web Analytics Glossary

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Analytics – the process of measuring and analyzing the traffic to your web site is something that most site owners know they need to do. But many are so confused they don’t even know what they should be monitoring, or even what most of the terms mean. Without being able to accurately measure your Web site’s effectiveness, you’ll have no idea what you are doing right or wrong, how to improve your sales. Is this post I’ll list some of the most common web site measurements and explain what they mean to you.

  1. Hits
    If your analytics tool uses this term – get a new one. Hits is a term from the “olden days” of the web. It was a measure of everything that was downloaded and viewed. In the beginning, there were no images, no flash, no video – just content. Each time a visitor looked at one page it was one hit. But when you start adding images etc., the hit counts become so far out of whack that they really are a useless number. Most programs no longer report it.
  2. Page Views
    Just like the name sounds, this is a count of how many times the pages on your site have been viewed. In general, you want this number to grow from month to month, especially as you add new content and attract new visitors.
  3. Unique Visitors
    Most programs use cookies to maintain a count of each unique visitor to your site. We usually speak in terms of visitors, but it’s actually each machine, each web browser even. If you have both IE and Firefox on your computer and you visit the same web site in each, you count as two separate visitors, since each has its own set of cookies. The same is true if you look at a web site from your home computer and also your office computer, you again count as two visitors.
  4. Visits
    This is the count of how many times all unique visitors came to your site. This one can also be a bit tricky. In most cases a visit will expire 20-30 minutes after the last activity made by a visitor. Think of it like this; You come to a site and browse pages for several minutes and then need a glass of water. Even if your browser stays on the page while you are away, there is no activity – no mouse clicks. If you return and click before 30 minutes has passed, you are still within in the same visit. With many analytics tools even if you close the browser and shut off your machine you are still within the same visit if your return before the time limit expires. Now if you take all of these scenarios, but you do not come back and click within 30 minute, then it will count as a new visit.
  5. Pages per Visit
    This tells you the average number of pages that get viewed during each visit. Higher numbers indicate that your visitors read multiple pages before they leave.
  6. Bounce rate
    This is the percentage of visits that the visitors leaves your site from the same page they entered on. IE, if they land on and exit from on the same page without going to any other pages on your site.  You want this number to be as low as possible. Average numbers vary by industry and type of site, but if your bounce rate is 70% or higher you may have a problem.
  7. Average time on site
    Another fairly obvious one. This tells you how long people stay when they visit your site. Longer times should correlate to higher pages/visit, or possibly your post are quite long or complex.
  8. % New Visits
    Of all the visits to your site, what percentage of them came to your site for the first time. By itself, this is nearly useless. But, when paired with other stats it can be illuminating. For example, let’s compare the number of new visitors to the number of page views. If your new visitor count is high and continues to grow, but your page views remains constant that would tell you that while you are attracting visitors, they are not coming back.
  9. Traffic sources
    This tells you how visitors get to your site, providing numbers for each of three methods;

    • Direct
      These visitors came to your site by manually entering the URL of the page.
    • Referring Sites
      These visits came to you by clicking a link on another site.
    • Search engines
      Can anyone guess? This traffic comes to you from being found on the various search engines.
  10. Keywords
    On your analytics, keywords tells you not how you want your site to be find, but rather how it actually was found. Of course, we want those things to be the same.
  11. Top landing pages
    This shows you which of your pages attract the most inbound traffic
  12. Top exit pages
    The pages from which the most people leave your site

There you have it – a basic analytics glossary to help you better understand the web traffic your site is getting. Hopefully this helps things make more sense to you, if I missed a term you don’t understand, let me know in the comments.

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Jack Leblond is a SEO/SEM professional working for a large corporation full time in Austin, TX. He is not a Realtor, he is our in-house SEO expert. Jack is the Director of Internet Strategy and Operations for TG (www.tgslc.org). In addition to managing the team that develops and maintains the company's multiple Web sites, he focuses on Search Engine Optimization (SEO), e-marketing and Social Media. Jack's background ranges from Submarine Sonar Technician/Instructor for the United States Navy, technical writer, pioneer in internet/intranet creation for McGraw-Hill and Times Mirror Higher Education, former Adjunct Professor for two Universities teaching web-related courses, has served as a city council member and co-founded Net-Smart, a web design and hosting company, where he managed networks and oversaw the development of hundreds of Web sites. As a free-lance SEO consultant, Jack performs SEO Site Audits for small/medium businesses that want their web sites to perform better in the search engine listings.

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17 Comments

17 Comments

  1. Eric Bramlett

    August 24, 2009 at 12:29 pm

    From my experience 30-40% bounce rate is a good goal for a real estate site. I would recommend drilling down to your most popular pages and trying to identify problem areas that way. There are certain pages that will naturally have very high bounce rates – your blog main page (as there’s lots of information, ) and a framed IDX (as analytics can’t track clicks through a framed element) are two of the most common examples on RE sites.

  2. Joe Loomer

    August 24, 2009 at 1:28 pm

    Jack – thanks for the great explanation of the individual terms – I am an infant in the SEO game and this helps me understand my site’s analytic tools much better.

    Thanks, Shipmate!

    Navy Chief, Navy Pride

  3. Matthew Rathbun

    August 24, 2009 at 4:52 pm

    Thanks for the great review this is a good 101 resource for folks just getting started!

  4. Doug Francis

    August 25, 2009 at 9:28 am

    I check out my Google Analytics and Webmaser Tools all the time and am amazed how they can vary daily. It is odd though that my “Bounce Rate” does not seem to be tracking (flatline since 8/2)… all other numbers fluctuate daily even when I was on vacation and not on the web.

    Any thoughts?

  5. Atlanta Real Estate

    September 30, 2009 at 9:09 am

    Jack:

    Nice run down. I remember the ‘ole “HITS” days. A lot of cash was made by the early internet settlers by selling web sites with high “hit count” to people that didn’t initially understand.

    RM

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Business Finance

You got an LLC and you’re ready to hire – 3 things lenders look for

(FINANCE NEWS) Yes, securing a small business loan of any kind is tedious and depends on varying lending organizations and business needs, but there is a list of general requirements small businesses should be aware of before getting knee-deep in conflicting information about lenders.

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If you are reading this, you probably have an LLC for your small business already, or money talk gets you going. If it is the former, let me say CONGRATULATIONS, and insist you pat yourself on the back in honor of your small business’s progression. Your arrival at a point where expansion is necessary is no small feat given half of small businesses fail in the first year. So, kudos to you.

Now, back to the money talk…

For LLC businesses looking to expand, please don’t fret about all of the information you’ve seen on the web. Yes, securing a small business loan of any kind is tedious and depends on varying lending organizations and business needs, but there is a list of general requirements small businesses should be aware of before getting knee-deep in conflicting information.

After some extensive research posing as the owner of imaginary businesses and annoying every loan officer who’d take my call, I’ve found three general lending requirements. I also provide a collection of the tangible information banks will likely review to meet those requirements. Take a gander:

Assets
Small businesses must have necessary assets: steady cash flow, financial reserves, personal collateral to support a variety of business fluctuations (i.e. unexpected employee loss), and a realistic pay off plan. These assets and financial safety nets are necessary for any lending organization to be confident in your business’s ability to support employee expansion in lieu of current expenses.

Proof of past
Just as you will come to expect from your soon to be employees, lenders want proof of the past and how you’ve managed past loans to align with your business goals. Historical evidence will further determine if your expansion is feasible, but also if it is worthy for the company to accept the lending risk.

Specific plans
Finally, be prepared to provide your small business’s explicit expansion plan, including how you arrived at your suggested loan amount and how you intend to divvy out the funds. It is important that you are as specific as possible in your projected numbers, seeing as one employee could make a $60,000 difference, and largely affect your expansion plan and financial need.

Before you go…

Now that you’re equipped with the magic three, you’re probably feeling empowered to walk into your nearest bank and demand your small business loan. Let’s first be sure you have all of the necessary information on-hand and ready to produce.

Lending companies that look for the magic three before investing arrive at their conclusion after collecting data from the following pertinent information:

– Proof of collateral
– Business plan and expansion plan
– Financial details
– Current and past loan info
– Debts incurred
– Bank statements
– Tax ID
– Contact info
– Accounts receivable information
– Aging
– Sales and payment history
– Accounts payable information
– Credit references
– Financial statements
– Balance sheet
– Profit and loss history
– Copies of past tax returns
– Social Security Numbers
– Assets and liabilities details

Now, my friend, do I release you as proud as a parent unto your nearest bank to secure your small business loan and begin growing your staff the way you’ve dreamed. I’m confident you will find the aforementioned information helpful in said quest, and would like to wish one last time (because it’s impossible to over-congratulate) a sincere CONGRATULATIONS on your businesses growth.

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Business Finance

How cryptocurrency works – basic vocabulary and concepts

(FINANCE) Cryptocurrency is a concept that dates back a decade, but as it becomes newly mainstream, many are struggling to catch up – knowing the basic concepts can get you up to speed.

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One of the most exciting things to arise out of new technology is the idea of better ways to optimize and improve concepts that we already find in the real world. None of us should be surprised when that includes currency.

With cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin, Dash, NEM, Ethereum Classic, Monero, and Zcash (to name a few), it may be hard for the average consumer not to just keep up, but to know what’s going on in this revolution in our modern day economy. Knowing how crypto works makes you a better consumer, as well as investor in your future. Let’s get started with the basics.

What is a cryptocurrency?

To ask what cryptocurrency is, one should also contemplate what modern day paper or coin currency is. At its most basic, all currencies share this core trait: you can exchange a unit (or units) which has predetermined value for either goods or services. Whether it’s dollars, Yen, the gold standard, or Dogecoin, all of these currencies allow you to complete basic transactions.

Where cryptocurrency is different, is how these transactions are completed and how cryptocurrencies are processed.

How does crypto differ from common currencies?

Cryptocurrency allows you to send money directly peer-to-peer (p2p) electronically instead of operating through third-party systems like banks or governments.

The technology that makes this happen is called Blockchain. Blockchain technology is the primary difference between the dollars in your wallet and the virtual currencies in your crypto wallet. The Litecoin School of Crypto uses a great analogy to explain how blockchains work:

“In its simplest form, blockchain is data. It’s a list of recorded information called “blocks” strung together in a chain. Think of blocks as folders stuffed with information i.e. how much Litecoin was sent, who sent it, and who received it. The great thing about blockchains is that it’s public and anyone in the world can see it.”

How does a normal crypto transaction work?

Here’s an example using the fictional cryptocurrency, bitquarters: Karen owes Jamal 10 bitquarters for her movie ticket, so she’s going to pay him back. Karen first requests the transaction through her digital wallet. Because of the nature of cryptocurrency, she can’t send him bitquarters she doesn’t have (there is no “overdrawn” account status in crypto, like modern banks), so it’s a good thing she just got paid!

When Karen initiates the transaction, she uses her private key to virtually “sign” it. When a transaction is completed, an individual will “sign” their transaction with their private key – the reason why cryptocurrency is called as such is because of encryption, after all. The requested transaction is sent via peer-to-peer (p2p) sharing to a network of computers called nodes. These computers validate Karen’s key and verify the transaction.

After the transaction is verified, it is added to the blockchain, the virtual ledger, that all bitquarter users have access to. After that is finished, in only a matter of seconds, Jamal is paid!

What is this cryptocurrency “mining” thing I’ve been hearing so much about?

Mining is a vital part of the cryptocurrency transaction. Miners are the only individuals in the crypto process that can confirm transactions. Their job is to take a transaction, to verify that it is legitimate, and spread them p2p in the network.

To make it a part of the public ledger (the blockchain) every node has to add it to its database. Because mining takes a computer’s energy and electricity to perform, miners are rewarded with small amounts of cryptocurrency per transaction (like how you pay to pull money from an ATM). However, to prevent fraudulent transactions, a computer must solve an encrypted puzzle in order to add it to the blockchain.

What are other important crypto terms I need to know?

Address: the only piece of information that needs to be used for a transaction, similar to a user name or email address. Each transaction uses a different address.

Block: a unit of data in the blockchain that holds and validates transactions. A blockchain is where all blocks of transactions reside.

Double spend: the action of trying to spend cryptocurrency to two different recipients simultaneously. Mining as well as the blockchain prevent malicious actions such as this from taking place.

Cryptocurrency is held up by some as being the currency of the future, while many others think that due to over-speculation, that it will be a investment bubble with irrevocable consequences for brick and mortar institutions. Regardless of any market forecasters perspective on cryptocurrency, the technology is here to stay and knowing the basic vocabulary can help you understand where things are going.

Don’t be intimidated by all of the language around this concept – if you choose to dive into the crypto waters, you’ll learn as you go along. If you invest in stocks, you know a specific concept and vocabulary list, and crypto functions differently but is just another finance mechanism, both of which can be overwhelming but learning the parts necessary to your goals is all that matters.

PS: If you’re more of a visual person, there’s a short video available that has circulated that explains Bitcoing well, and applies to crypto in general.

This story was first published in February 2018.

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Business Entrepreneur

Teach kids music and they’ll learn entrepreneurship

(ENTREPRENEUR) Sowing the seed of music education and appreciation in your child when they’re young is a great way to produce the fruit of entrepreneurship when they’re older.

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With all the focus sports gets as the petri dish for producing driven adults, I’d like to offer up a different extracurricular activity for your consideration: music. Supporting your child as they learn how to harmonize with others will help set them up for success later in life, as music cultivates many of the characteristics that entrepreneurs rely on every day.

Iteration

Anybody who’s played an instrument or been a part of a choir can tell you that the number one thing you’ll learn in a musical group is that you won’t make it unless you practice, practice, practice. Although in the moment it’s not that great to hear little Timmy or Ginny run through their C-scale a hundred times, a few years down the line when all those hours of iterating result in the lilt of Beethoven through your household, you can be sure that your kid has learned that repeating the little steps helps them achieve large goals.

Showmanship

A large part of being a successful entrepreneur is knowing your markets, or your audience, and able to keep their attention so that they come back to you when they need your business. Being a part of an ensemble not only teaches children to be comfortable in the spotlight but to crave putting on a show.

Teamwork

When young musicians come together to play in a band or raise their voices in a choir, they’re learning a lot about how to collaborate with others in order to achieve a goal. When a young alto sings alone, her notes may sound strange without the soprano tones filling out the melody. The duet that comes from them learning to work together and complement each other builds a strong foundation for any team venture your child will encounter later in their careers.

Competiveness

Although music provides a solid foundation in harmony, it also contains just as much grit and competition as the football field. Music groups compete in regional and national championships just as athletes do, and solos offer opportunities to self-select and advocate. Hell hath no fire like a second seat musician who dreams of being first chair.

Self Confidence

Unlike sports, music is accessible to those who might struggle with finding confidence. There are no “best” requirements to play—regardless of height, weight, and other characteristics that nobody has any control over—nearly anyone can pick up an instrument or find their voice. This perhaps may be the greatest gift that you can give your child, the confidence that no matter what they look like they can excel.

As your child begins to consider the different activities that will help them build toward their future, don’t discourage them from pursuing a musical path. When they have to stand in front of an audience of their peers and deliver a presentation with an unwavering voice, they’ll thank you for the years they spent getting comfortable in the spotlight. Especially if they pursue entrepreneurship!

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