Practical Solutions for Web Analytics

Transcription

1 Practical Solutions for Web Analytics Harnessing the power of digital trace data Molly Wasko, PhD Associate Professor and Chair, MISQ Collat School of Business University of Alabama at Birmingham

2 About Me

3 Multiplicity Strategy The What Clickstream Multiple Outcomes The How Much Experimentation and Testing Voice of the Customer Competitive Intelligence The Why The What Else The Goal! Insights Avinash Kaushik, Web Analytics 2.0

4 The What Clickstream Data The what is simply collecting and analyzing your website s click-level data Clickstream is foundational data to help you analyze all kinds of site behavior

5 The How Much - Multiple Outcomes A million visits to the site so what? You are trying to deliver on 3 simple things: Increase revenue Reduce cost Improve customer satisfaction/loyalty

6 The Why - Experimentation What is best received by the customer? Experiment first, and then build your strategy Take a bigger risk Rapid launch and test Fail fast

7 The Why Voice of the Customer Oh, this is why they abandoned! Your web analytics tool can only report what it records: quantitative vs qualitative data Surveys Lab usability tests Visual heat maps

8 The What Else Competitive Intelligence How do I compare to the competition? On the web, you can gather tons of information about your competitors Knowing how you re performing is good Knowing how you re performing against your competition is priceless

9 The Goal Insight! Adapt, test, and measure outcomes Avoid becoming overwhelmed by digital trace data The critical few Keep it simple Experiment Improve

10 Top Picks in Web Analytics

11 The Critical 8 Web Metrics 1. Visits (# of sessions opened) 2. Unique Visitors (# of people) 3. Time on Page 4. Time on Site 5. Bounce Rate (% of 1 page exits) 6. Exit Rate (% exits from this page) 7. Conversion Rate (Outcome/Visitors) 8. Engagement (degree of engagement, e.g. sign up, time, depth)

12 Custom Reporting Standard reporting does not reflect your important outcomes so create your own

13 Dashboards 5 Rules for High-Impact Dashboards 1. Context to improve actionability: trends 2. Isolate your few critical metrics ~10 3. Include insights 4. Fits on one page 5. Churn

14 SEO: Search Engine Optimization How do relevant people find your site? Page titles are an important aspect of SEO brief but descriptive Use description meta tags to provide page summaries Choose simple-to-understand URLs using words Simple, easy navigation through text Write easy-to-read text Google Webmaster Tools Top Search Queries

15 Keyword Performance Trends Google trends Easily compare search traffic and trends Focus geographically Compare trends Also visited to identify competition

16 PickFu Instant Market Trends Real consumer feedback in minutes, with written explanations. Great to compare images or test drive market copy

17 A/B Testing: Google AdSense, Optimizely Testing two or more situations: only 1 difference between each situation, must run both simultaneously

18 Feng-GUI Attention Analysis

19 Klout Uses social media analytics to rank users and measure online impact Great for monitoring performance against others Benchmark your performance over time Judged by the activity of followers

20 Multi-Media Strategies: QR Codes QR Codes: Paper-based hyperlinks Ability to measure impact of offline messaging Great for when key content changes quickly Product Details Coupons Event Details

21 Multi-Media Strategies: Campaign Tracking Ability to assess impact of specific media campaigns Capturing the Source and Medium for your referral traffic Helps identify the most effective ways to drive more visitors to your website

22 Can t Wait to Get More.

23 Molly Wasko, PhD Associate Professor and Chair, MISQ Collat School of Business University of Alabama at Birmingham