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Factors Pushing Bitcoin Prices Higher in 2017

Factors Pushing Bitcoin Prices
Higher in 2017

For newcomers to the market looking to make a quick win, the rollercoaster of a year has probably been a time of scratching heads and possibly a few tears shed. For the long-term investor, however, these periods are part of the journey and opportune times to snap up some more coins when the price takes a dip. Despite the precautionary cries of ‘bursting bubbles’, these market corrections are an anticipated occurrence.

    
Legislative Changes for Cryptos

Earlier this year, Japan announced that as of 1 April 2017, the country would recognise bitcoin as legal tender and make the provisions for administrative and accounting systems to be enhanced for cryptocurrency transactions to take place seamlessly. This was undoubtedly the major contributing factor to an initial surge in the price as Japanese individuals and corporations alike scrambled on exchanges to secure bitcoin for future purchases. Hundreds of thousands of retailers in the area are said to be equipping themselves to accept bitcoin payments, with a low cost airline, Peach, becoming the first commercial carrier to directly offer consumers tickets paid in bitcoin.

Australia quickly followed suit, announcing accelerated amendments to legislation that eliminated the incumbent double taxation on digital currency transactions. As it stands, Australians using bitcoin for transactions are liable for the 10% goods and services tax (GST) plus a further 10% tax for using ‘intangible property’ as a payment medium. Come 1 July 2017, these transactions will only attract GST, and be exempt from further taxation, no doubt fuelling a greater adoption of digital currency transactions. The proactive progression by these countries certainly paves the way for others to learn from their integration and regulatory practices, empowering mainstream bitcoin adoption, which naturally pushes the price higher as demand increases.

Scaling Debate Resolution

The scaling debate has been a long-standing hurdle for Bitcoin growth. The decentralised nature of bitcoin, which naturally is one of its most appealing qualities, presents some challenges when it comes to governance of remedial action. In an ecosystem where no single entity can dictate changes to the framework, a majority consensus must be reached. The fact remains that Bitcoin needs to scale from its current transactional capacity in order to meet the demands placed on the network in terms of the growing number of transactions, as the current block size is impeding quick and cost-effective transactions.

Whilst several proposals have been put forward, the Bitcoin community have yet to come to agreement on a viable solution that satisfies the majority, while at the same time doing what is best for the wider user base. In May 2017, at the annual Consensus conference, held in New York, an agreement has been signed by a ‘critical mass of the bitcoin ecosystem’ that set out a plan for the adoption of SegWit with a planned hard fork to a 2MB blocksize within six months. While further clarity is needed, it would appear that we may finally come to a point of breaking the stalemate, which will contributing factor in Bitcoin being able to advance and reach its full potential.

Economic and Political Uncertainty

One of Bitcoin’s undeniable drivers of growth are citizens who have lost confidence in their country’s ability to maintain sound economic and political policies, and desperately seek to establish their own sense of financial freedom outside the manipulation of governments.

Venezuela

Take Venezuela for example. An overly aggressive expansionary monetary policy has resulted in hyperinflation, which the International Monetary Fund (IMF) expects to reach an explosive 1,660% this year. This has led to an unparalleled economic and social crisis. The removal of the 100 Bolivar note (the largest denomination and still worth only a few US cents) from circulation in December 2016 alongside the lack of availability of the planned 500 to 20,000 Bolivar notes, led to widespread chaos and violent protests amongst Venezuelans, who for the most part were heavily reliant on cash but were effectively left without money for weeks on end.

It is reported that the minimum wage is around 200,000 Bolivars, yet a single basket of groceries costs in the region of 770,000 Bolivars, nearly 4 times the minimum monthly wage. Whilst the government provide some subsidised basic goods, the ‘outlets’ have become hotspots for vicious crime and citizens have to weigh up the risks of cheaper food against the dangers that face them in the queues. This is what happens when people reach such levels of despair to survive. The alarming surge in crimes such as kidnapping and murder leave most Venezuelans living in fear for their lives on a daily basis, with little in the way of respite.

India

India is another prime example, where the most recent, and possibly most extreme case of a modern-day war on cash occurred in December 2016. Under the pretence of curbing criminal action and tax evasion, Prime Minister Narendra Modi effectively wiped out 86% of notes in circulation overnight, when he announced the demonetisation of 500 and 1,000 Rupee notes with immediate effect. Exchange was possible, but within a limited time frame and only up to a certain amount, the rest having to be processed via a bank account. This, in a country where almost half its population has no access to formal banking, let alone a bank account. This is just one of the reasons bitcoin holds such appeal in tempestuous economic climates. With Bitcoin, you are assured a level of financial security your money is removed from the coercion of the centralised system, therefore protecting your wealth from political agendas, damaging inflation and capital controls.

Increased Inflow of Institutional Money

Financial institutions, who are historically wary about Bitcoin are increasingly showing signs of interest in the digital asset. When compared to the performance of stock markets and fiat currencies, combined with more and more regulatory structure coming into place, it is unsurprising that institutional money has started flow into the crypto-economy. Regulation is arguably one of the largest barriers to cryptocurrency investment for institutions. Two nations, in particular, have been influential in this regard; Sweden and Japan. Sweden was one of the first movers in terms of a regulated Bitcoin investment. Back in May 2015, the KnC Group launched the world’s first ‘Bitcoin Tracker’ known as an exchange-traded note (ETN), which is publicly traded on a regulated exchange. This represented massive progress for Bitcoin at the time and essentially opened the market for institutions and private individuals to gain a regulated exposure to Bitcoin.

The ETN is designed to mirror the price movements of the underlying asset being USD/BTC. The company offering the ETN, XBT Provider, is required to hold the equivalent number of bitcoins as the number of ETN’s issued. In other words, when a financial institution or private investor purchases, XBT Provider has to purchase the same amount of bitcoins to back up the note. Earlier this month, Hargreaves Lansdown, the UK’s largest brokerage, announced that their clients would be able to access the ETN via their SIPP and brokerage accounts. This has opened the doors for retail and institutional investors to gain a regulated Bitcoin exposure in the UK.

As mentioned earlier, Japan has played a crucial role in moving bitcoin into the mainstream. This move has provided institutional players with the much-needed vote of confidence required before they got on board. Russia and India are looking likely to be the next countries to announce positive legislation after an increase in interest within the regions. This will further stimulate institutional investment into Bitcoin, leading to a stronger and more prosperous market for all.

Mainstream Momentum

Perhaps this can be linked back to the fact that with growing interest, and impressive growth, the media have been covering Bitcoin more and more frequently, exposing it to a wider audience. Personally, I have had more and more dinner table discussions about Bitcoin with friends, family, ex-colleagues and acquaintances, outside of the ‘cryptocurrency world’, all now showing interest in Bitcoin.

It was this month that the Wall Street Journal mentioned Bitcoin on its front page, highlighting that Bitcoin has had a strong 2017. This mainstream recognition for Bitcoin’s performance has been long awaited and will be a stimulus for continual momentum. It was only 2 years ago that most of the mainstream news stations were reporting Bitcoin’s demise. What a turn of events it has been. The factors I have outlined above are merely a few of the positive fundamentals Bitcoin has going for it. Driving demand, expanding its utility and subsequently, increasing its value and price. So yes, I am confident when I say that Bitcoin will continue to break through all time highs and find favour above the $3,000 mark before the bells ring in 2018.

Chuck Reynolds


Marketing Dept
Contributor
Please click either Link to Learn more about -Bitcoin.

Alan Zibluk – Markethive Founding Member

The Cannabis Industry, the Blockchain, and Dennis Rodman Gives PotCoin a New High

The Cannabis Industry, the Blockchain, and Dennis Rodman Gives PotCoin
a New High

Cannabis has been legalized in numerous states

across the United States. However, the cannabis industry is still plagued with limited access to banking services as traditional banks want to avoid dealing with businesses that engage in business activities that are still largely illegal under federal law. That is where cryptocurrencies could offer a solution.

Due to the loosening of anti-cannabis laws across America, the legal weed retail industry has grown quickly over the years and is expected to keep growing rapidly as more states debate and decide on its legality. Both the medicinal and recreational use of cannabis has been legalized in Alaska, California, Colorado, Oregon, Washington, Nevada, Massachusetts, Maine, and the District of Columbia, while the medical use of cannabis has also been legalized in an additional 20 states across the US. In late 2016, leading investment bank Cowen and Company published a report on the Cannabis industry titled, “The Cannabis Compendium: Cross-Sector Views on a Budding Industry” which postulates that the industry would grow to $50 billion by the year 2026.

However, because cannabis is still illegal under federal law, most legal dispensaries are having to conduct purely cash-based business, given most banks and other financial institutions will not allow them access to financial services as a result of regulatory constrictions. This leaves weed retailers vulnerable to theft, which criminals have exploited, as evidenced by statistics on dispensary robberies. The blockchain industry is looking to remedy this. Due to the decentralized nature and inherent security of the blockchain, it offers a unique selling proposition as a payments solution for the cannabis industry.

Dennis Rodman Gives PotCoin a New High

PotCoin was created in 2014 to cater to the needs of the unbanked cannabis industry. The coin works on a proof of stake system with an Annual Percentage Interest (APR) of five percent. The coin also boasts fast processing time with relatively low fees. Though the coin has exhibited steady growth in its three years of existence, there has been a substantial spike in its price this week due to its sponsorship of retired Basketball star and Hall-of-Famer Dennis Rodman’s trip to North Korea.

According to PotCoin spokesperson Shawn Perez, the main reason for the sponsorship of Rodman’s trip was to support “Dennis Rodman's mission to bring peace to the world." Though the visit does not seem to have any visible ties to the cannabis industry, PotCoin has benefitted from the media attention that has surrounded Rodman’s journey to North Korea. According to Coin Market Cap, the coin has shown over 70 percent growth, from just below $0.10 to $0.17 since the sponsorship was announced.

POSaBIT

Washington-based bitcoin startup POSaBIT has created a financial platform that allows customers at weed retailers to make purchases using their regular credit cards. The platform uses bitcoin as an intermediate payment system. Jon Baugher, co-founder of POSaBIT explained: “There’s no industry – whether it’s the production and sale of cannabis or the production and sale of a cup of coffee – that can operate safely, transparently or effectively without access to banks or other financial institutions and traditional services. That’s where we thought we could leverage the use of digital currency.” The technology facilitates customers’ quick and easy access to bitcoin at the point of sale who can then use the digital currency anywhere that it is accepted. The platform is already in use by 30 dispensaries in the state of Washington.

The platform is attractive to cash-only merchants who want to accept another form of payment, retailers that want to be seen as more technologically savvy so as to differentiate themselves from the competition, and for small businesses that want to maximize profits by capitalizing on digital currencies’ low transaction fees. The technology is compliant with Know Your Customer (KYC), Anti-Money Laundering (AML), and Office of Foreign Assets Control (OFAC) regulations while complying with laws regulating the cannabis trade. Since the platform reduces the reliance on cash as a medium of exchange, it is making dispensaries safer working environments for employees as there is less of an incentive for theft.

SinglePoint and First Bitcoin Capital

Holding company SinglePoint and blockchain technology provider First Bitcoin Capital announced a partnership on June 6. The joint venture agreement aims to create an efficient and workable payments solution for cannabis retailers using blockchain technology. Greg Lambrecht, SinglePoint CEO, explained: "In January 2014 SinglePoint announced and started working on a bitcoin payment solution, shortly after we recognized the issue of minimal user adoption of digital currency. The payments industry has rapidly changed since that time. There is now tremendous momentum and demand for bitcoin acceptance as an alternative form of payment.

This Joint Venture with First Bitcoin Capital is perfect timing. Bitcoin payments are catching on, and cannabis dispensaries need a solution fast." SinglePoint has previously worked with leading companies such as AT&T, T-Mobile, Sprint and Verizon on technology integration systems that have allowed for a more robust use of communication technology as a payment solution. The company now hopes to use this experience to create a workable solution for weed retailers.

Greg Rubin of First Bitcoin Capital stated: "We are optimistic that our partnership with SinglePoint will produce positive cash flow to our bottom line. Between the two of our companies, we will have the ability to develop a best in class solution, and SinglePoint will be able to help in distribution. We look forward to providing cutting-edge products and services to all states through the establishment of this new venture." “As with the massive and widespread adoption of Bitcoin worldwide, the two companies will pursue opportunities to leverage their payment technology background and develop a proprietary solution specifically for high-risk payment verticals including the cannabis industry.” the press release adds.

The two companies believe they have found a way for a smooth customer experience at the point of sale at weed dispensaries. Using SinglePoints’ technology integration experience and First Bitcoin Capital’s tech background, the company will create an “all-encompassing payment solution” for the retail cannabis industry. The platform will be easy to integrate into the existing point of sale machinery through a simple download. With the retail cannabis industry set to grow quickly in the coming years and the continuing lack of regulatory support at the federal level, it seems like the industry will have to rely on blockchain technology and digital currencies to facilitate easy trade and to securely store its profits.

Chuck Reynolds


Marketing Dept
Contributor

Please click either Link to Learn more about -Bitcoin.

Alan Zibluk – Markethive Founding Member

Global Bitcoin ATM Proliferation Nearly Doubled During May

Global Bitcoin ATM Proliferation Nearly Doubled During May

The global proliferation of bitcoin ATMs nearly doubled during May when compared with April. The United States and Canada saw increases in the number of bitcoin ATMs by almost 8%, whilst Russia’s bitcoin ATM presence evaporated following the withdrawal of Bitlish.

Also Read: South Korea to Dispose of 216 Bitcoins in First Public Auction 

Coinatmradar Reported an Overall Growth in the Number of Bitcoin ATMs of 6.7% Internationally

May saw significant price gains. Last month also saw a considerable expansion in the number of bitcoin ATMs internationally.

Coinatmradar reported an overall growth in the number of bitcoin ATMs of 6.7 percent internationally, as May saw 95 new bitcoin ATMs installed. 17 bitcoin ATMs were closed bringing the total of reported bitcoin ATMs to 1236.

Global Bitcoin ATM Proliferation Nearly Doubled During May

The majority of the growth took place in North America, with America seeing 7.9% (+55 ATMs), and Canada seeing the growth of 7.8% (+12 ATMs). The United Kingdom saw growth of 11.5% (+7 ATMs), and Japan saw growth of 36.4% (+4 bitcoin ATMs).

Bitlish closed its three ATMs located in St. Petersburg, which were the sole bitcoin ATMs in Russia reported to the site Coinatmradar. Bitlish’s exit from the Russian market comes amidst claims that it plans to install 5,000 new bitcoin ATMs across Europe – although the company’s hasty exodus has left some analysts skeptical regarding how long the ATMs are likely to remain open.

North America Currently Host 75% Percent of All Bitcoin ATMs Globally

As indicated by Coinatmradar, The United States currently holds a significant lead over countries for the number of active ATMs, with 851 currently in operation. Canada is second with 167 ATM locations, followed by the United Kingdom (68 ATMs), Spain (34 ATMs), Austria (25 ATMs), and Finland (21 ATMs).

Global Bitcoin ATM Proliferation Nearly Doubled During May

North America currently host 75% percent of all bitcoin ATMs as reported by Coinatmradar. European ATMs accounts for 20% per cent of the total.

Coinatmradar’s data almost entirely pertains to major companies issuing bitcoin ATMs, and thus is likely an inacurate representation of the number of bitcoin ATMs that are independently or privately installed.

Although the number of ATMs issued by major companies in a region is a narrow indicator by which to judge the development of its cryptocurrency economy, this data suggests that much of the developing world still has a long way to go in developing its cryptocurrency economy and infrastructure.

Do you think that more bitcoin atms is a good thing for the cryptocurrency economy? Tell us your thoughts below!


Images courtesy of Shutterstock

Chris Corey 

CMO Markethive Inc

To learn more about Bitcoin Click here

Alan Zibluk – Markethive Founding Member

A little cooperation goes a long way

I like this story I read on LinkedIn. 

"A father left 17 ducks as asset for his Three Sons. When the Father passed away, his sons opened up the will.

The Will of the Father stated that the Eldest son should get Half of 17 ducks, The Middle Son should be given 1/3rd of 17 ducks, Youngest Son should be given 1/9th of the 17 ducks. 

As it is not possible to divide 17 into half or 17 by 3 or 17 by 9, the sons started to fight with each other. So, they decided to go to a wise man who lives in a cave. 

The wise man listened patiently about the Will. The wise man, after giving this thought, brought one duck of his own & added the same to 17. That increased the total to 18 ducks. 

Now, he started reading the deceased father’s will. Half of 18 = 9. So he gave 9 ducks to the eldest son. 1/3rd of 18 = 6. So he gave 6 ducks to the middle son. 1/9th of 18 = 2. 

So he gave 2 ducks to the youngest son. Now add this up : 9 + 6 + 2 = 17 & This leaves 1 duck which the wise man took back.

MORAL : The attitude of negotiation & problem solving is to find the 18th duck i.e. the common ground. Once a person is able to find the common ground, the issue is resolved. 

It is difficult at times. To reach a solution, the first step is to believe that there is a solution. If we think that there is no solution, we won’t be able to reach any"

If you would like to see how Markethive can solve your marketing problems, login here.  —-> Markethive

Markethive is always completely free and your best social network for entrepreneurs.

Thanks to 

Akella Gourisankar

Akella Gourisankar  for this information

 

Alan Zibluk – Markethive Founding Member

Topics in Mobile Redirect Issues Part 6: SSL- Redirect to Mobile Redirect-Problem and Solution

 

Glenn E. Fleming, MD, MPH, Contributor, MarketHive

(Reposted from Patrick Sexton, https://varvy.com)

There are four common types of redirects that affect how your users and Google see your mobile pages. Each of them is bad for performance (speed). They include:

       *    Initial redirect – canonical (www.example.com vs example.com)

  • SSL – secure pages redirect
  • Redirect to mobile version
  • Content driven redirects

Content-Driven Redirects

  1. Problem

          Content-driven redirects are not required to display a page. These redirects have been added because mobile and                   desktop versions of a given webpage may not display the same content.Thus, some mobile pages are redirected to                 other locations.

          Bottom-line: Content-driven redirects are more of a design issue rather than a technical issue.

       b. Solution

         The use of content-driven redirects should be avoided if possible.The solution here is to utilize responsive web design.            This will ensure that both website versions (mobile and desktop versions) display the same content with no need for a              content-driven redirect.

Alan Zibluk – Markethive Founding Member

Topics in Mobile Redirect Issues Part 5: SSL- Redirect to Mobile Redirect-Problem and Solution

Glenn E. Fleming, MD, MPH, Contributor, MarketHive

(Reposted from Patrick Sexton, https://varvy.com)

There are four common types of redirects that affect how your users and Google see your mobile pages. Each of them is bad for performance (speed). They include:

       *    Initial redirect – canonical (www.example.com vs example.com)

  • SSL – secure pages redirect
  • Redirect to mobile version
  • Content driven redirects

Redirect to mobile version

  1. Problem

            When you have a different web address (url) for your mobile pages than you do for your desktop pages, the mobile                 device must somehow get to the mobile version. The way it does so is through a redirect.

           In other words, the mobile redirect is the method in which your mobile page gets displayed.This redirect only occurs                when a different url is utilized for mobile devices versus the desktop version. This redirect does not happen when a                  responsive web design is employed.

 

       b. Solution

         As previously mentioned, a mobile redirect only occurs when a different url is utilized for mobile devices versus the                  desktop version.

         Using responsive web design or dynamic serving will remedy this issue by eliminating the need for separate urls for the          same website (i.e., mobile v. desktop version).

Alan Zibluk – Markethive Founding Member

Topics in Mobile Redirect Issues Part 4: SSL-Secure Pages Redirect-Problem and Solution

Glenn E. Fleming, MD, MPH, Contributor, MarketHive

(Reposted from Patrick Sexton, https://varvy.com)

There are four common types of redirects that affect how your users and Google see your mobile pages. Each of them is bad for performance (speed). They include:

       *    Initial redirect – canonical (www.example.com vs example.com)

  • SSL – secure pages redirect
  • Redirect to mobile version
  • Content driven redirects

SSL-Secure Pages Redirect

  1. Problem

               Pages that use SSL will often be redirected from the url

              "http://www.example.com" to the secure version of that page at "https://www.example.com"

              This redirect usually occurs when a webmaster uses a site-wide 301 redirect as a simple step to forward all pages to               the secure versions of the page.

       b. Solution

              A redirect exists for SSL sites typically because the webmaster used an "easy fix" of doing a site-wide 301 redirect to               make all traffic forwarded to the secure version of their pages.

             A better option would be to use HTTP Strict Transport Security (HSTS) which forces all traffic to use secure pages.                  This means your pages will be more secure and load faster by not using that 301 redirect.

 

 

Alan Zibluk – Markethive Founding Member

Topics in Mobile Redirect Issues Part 3: Initial Redirects-Problem and Solution

Glenn E. Fleming, MD, MPH, Contributor, MarketHive

(Reposted from Patrick Sexton, https://varvy.com)

There are four common types of redirects that affect how your users and Google see your mobile pages. Each of them is bad for performance (speed). They include:

       *    Initial redirect – canonical (www.example.com vs example.com)

  • SSL – secure pages redirect
  • Redirect to mobile version
  • Content driven redirects

Initial Redirect (Canonical)

 

  1. Problem

Example: The url "www.example.com" and the url "example.com" are actually two different urls even though they typically will have the same content.

One has the "www" and one does not. Oftentimes webmasters will choose one or the other throughout their site (www or no www).To ensure that pages are always using the same version of the url, a site-wide redirect is typically used.

Thus, when typing "google.com" into a browser, the end-result is "www.google.com".

  1. Solution

This type of redirect was typically implemented for SEO purposes.The common logic was to obtain credit for each link given to a page because some people link to the "www" version and some link to the non-version of a page.

As a webmaster, one must decide if this value even still exists and if so, is it worth the redirect?

Google understands pages and sites much better now than it did when this redirect became a common practice and Google even offers you a way via Webmaster Tools to choose which version you prefer (without the redirect).

Take Home Points:

*Regardless, make sure your site-wide redirects are smartly working with other redirects like ssl.

*Do not redirect users to one version of page just to be redirected again to the secure (ssl) version.

*The way to actually review / update / remove it for most webmasters is to go to their htaccess file and find it:

RewriteCond %{HTTP_HOST} ^domain.com [NC]
RewriteRule ^(.*)$ http://www.domain.com/$1 [R=301,NC]

Alan Zibluk – Markethive Founding Member

Who Are You Really Marketing To?

 

"…25-30 year old single women with annual incomes over $75,000, who live in San Diego, who like to shop…So if we are pretending we’re a clothing store, these might be some of the questions we should ask:

Where do they shop?

What magazines do they subscribe to?

What blogs might they read?

What do they struggle with when shopping?

How do they share their shopping experience?"     

      –Derric Haynie, CEO Splash

So, I'm new to the world of marketing.  No, it's not my educational background and I am surely not "fluent."  So, when I took a few minutes to read the above article (http://hive.pe/eG) written by Derric Haynie of Splash, I was amazed that there was so much to learn with regard to marketing!  Apparently, I'd been utilzing some aspects of marketing for quite some time now and hadn't even realized it. 

Have you ever completed a profile on an online dating site?  Whether or not you were providing misleading demographic information for your profile, you were probably marketing toward a certain mate.  So you created a profile in such a way that the hope was that you would attract a certain someone who had all the characteristics that you were looking for.  Am I correct?  Well, even though this example is quite simple, you were using some aspects of marketing.  If you included photos along with your description and traits, then you (in a nutshell), were utilzing the phenomenon known as "buyer persona."

I invite you to check out Derric's blog, especially if you are like me and you are new to this world of marketing.  I thought it gave a great overview of this topic and it has forced me to think more about who my target audiences are in more detail.

I'd love to hear thoughts once you've had a chance to read Derric's article.

Alan Zibluk – Markethive Founding Member

Google Analytics improves small business marketing

 

 

 

 

 

Google Analytics improves small business marketing

Google Analytics is a highly effective website analysis platform that allows businesses to assess how well they’re doing with their online marketing efforts. But for small business owners who aren’t all that comfortable with technology, the thought of digging into the analytics can be intimidating.

You don’t have to be an expert to glean valuable insight from Google Analytics, according to Mark Boyd, Search Engine Optimization Director at MIND Development & Design, and a SCORE blogger. By familiarizing yourself with how to pull some basic information, you can gain an understanding of how well your business website is performing. “Not only can you track results, but you can also track how you’ve gotten those results,” said Boyd.

With Google Analytics, you can track:

n Traffic volume. View your daily and monthly traffic and monitor ebbs and flows, highs and lows.

n Average time visitors spend on your website. See the pages visitors viewed while on your site and how much time they spent on them.

n Bounce rate. This reflects the number of visitors who left your website after only visiting one page. Bounce rate and average time spent on a website are closely tied. When a visitor views multiple pages, the time onsite is typically longer than if they land on one page and leave.

n Number and percentage of new and repeat visits. Knowing this can help as you build engagement with your audience. You can see what percentage of your daily, weekly, monthly and even yearly visits are new visitors versus repeat visitors.

n Traffic sources. You can see geographically where your website traffic is coming from, and if the traffic sources are organic listings, pay-per-click ads, referrals (such as from social media), etc.

n Compare current traffic to that of previous months and years. This enables you to compare performance and detect trends.

All of these can help you understand how your website engages visitors and how effective your off-site digital marketing efforts are at driving traffic to your website.

These are only the tip of the analytics iceberg. There’s much more data available, but interpreting some of it requires a higher degree of knowledge about the platform.

“My favorite part of Google Analytics is comparing current numbers to the previous year,” said Boyd. “It’s amazing how you can see the same traffic trends from year to year. That’s very helpful in planning your SEO, paid advertising and social media efforts.”

To power up your social media techniques, plan to attend the free SCORE workshop on May 10 at 6:30 pm, at the Traverse Area District Library, Woodmere branch. Seating is limited, so please pre-register at www.upnorthscore.com.

Michael McCrary is a principal at Pine River Consulting, LLC and has been providing marketing and strategy consulting to clients globally since 1990. He has been a SCORE mentor since June 2015.

If you believe that my message is worth spreading, please use the share buttons if they show at the top of the page.

Stephen Hodgkiss
Chief Engineer at MarketHive

markethive.com


Source: Michael McCrary: Google Analytics improves small business marketing | Local News | record-eagle.com

Alan Zibluk – Markethive Founding Member