Both these programs do pretty much the same thing and track views and visits your sites get.  You can see a breakdown of when people are viewing, how many times a certain page is being, viewed and all the other goodies that you might want if your trying to bring traffic to your site.  They even show you what kind of marketing practices are working for you too.  The main difference I see are that google analytics you set up with your gmail account which is cool cause I already use this service.  Google analytics for me is easier to navigate than sitemeter was.  Sitemeter had a bunch of extra stuff that, personally for me was not needed.  Another thing is that google analytics can handle all your sites.  If you want to do that with sitemeter you have to get that pro service which I have no need for.  The final thing is, I like the google analytics widget better for wordpress.  Right now I only have sitemeter one up but the google analytics one shows you right on the screen how many new visitors you have had to the site.  Unfortunately, mine was at 0 so I got rid of it for now.

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