Yesterday I listened in on a Marketing Profs Seminar titled "Actionable Web Analytics: Unleash the Marketing Power of Your Web Data."  During this seminar Google Analytics evangelist Avinash Kaushik gave several straight forward tips on how to better harness web analytics data.

The tip that I liked the most is to look at the bounce rate data for referring pages. Of particular interest are the pages with the lowest bounce rates. A low bounce rate is a good indicator that traffic referred from this site is more likely to convert and accept the site's call to action.

Part of search engine optimization (SEO) is garnering high quality links on other sites that can help drive quality traffic to one's site, and using this bounce rate data is an easy way to identify some great sites to consider requesting more links from.  In fact, this strategy is not only accessible to analytics gurus, even those new to using web analytics programs can quickly find and analyze such data. 

The seminar costs money to view, but you still learn from Kaushik at his blog Occam's Razor.