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Jul 29, 2011

Who can use Web Analytics data in the orgranization?

In the organization, it’s not only the marketing department who can use Web Analytics insights.

Every department of the organization can use it but the key performance indicators will change accordingly.



Below are Key Performance Indicators for measuring Web Analytics data depending on the department of the organization:


1.     DESIGNERS:
 How a Web Designer can use the Web Analytics data?

Designers can use the Web Analytics data to get the information like:


          Browsers – You can see the browsers mostly used by the visitors like Firefox, Chrome, Opera, and Internet Explorer etc…

Is the Bounce Rate of the visit from a particular browser is high as comparative to others?

Is your site compatible with all the Browsers?


          Site Overlay Report – Site Overlay report will tell you where people are clicking the most. It will help you in putting your all web page pieces together. If top right hand side is the most clickable section, then place your Call to Action button there.

          Page Load time – Through this report you can know what the page load time of your site is. If page load time is high it affects site conversion rate.

          Navigation Summary/Path Analysis – Through navigation summary/Path Analysis, you can know that whether your bread crumbs are in order or not. Where people are exiting the website. What are the top bouncing pages?

          A/B Testing, Multivariate Testing



2.     INFORMATION ARCHITECTS

      Information architects deals with interaction design of the page, content writing and functionality of the web page. Web Designing comes under the Information Architecture domain. Information Architects wants to know how easy to use website their target audience finding it. Visits, page views, Key phrases report, pages report, navigation summaries, referrers report are the main data information architects can pluck from web analytics tool and use to make changes in the website.


3.     E-MARKETING

      Email Marketing guys can see how effective their email campaign is vis-a –vis other sources of traffic. How much conversions happening on the site from the email campaign traffic. How that traffic getting engaged with the website. The top key performance indicators to measure the effectiveness of email campaign are:


  •           Visits
  •           Page view
  •           Average time spent 
  •           Page views/visit 
  •           Delivery rate = (Number of emails sent – Number of bounce backs) / Number of emails sent    
  •           Open rate = Number of emails opened / Number of emails delivered  
  •           Click To Open rate  = Number of clicks /Number of emails delivered 
  •           Engaged Visits = Number of visitors  visited  xxx pages/ Number of Clicks 
  •           Conversion rate = Goals completed/Number of emails delivered
  •           Cost  per Email Sent = Total Revenue / Number of emails sent 
  •           Cost  per Visit = Total Revenue / Number of visits from email campaign
  •           Cost  per Engaged visit = Total Revenue / Number of engaged visits from email campaign  
  •           Profitability = (Revenue Generated – Campaign Cost – Cost of transactions done) /Number of emails sent


4.     DEVELOPER/TECHNICAL

       A developer/Technical role comes under the Information Architect.


5.     MANAGEMENT TEAM
     
      A management team/Stakeholders is your internal customer. They will see whether the business goals are achieved or not. They will not be interested in the trivial Web analytics details. The KPI’s useful for them are:  
  •           Conversion rate
  •           Transactions Done
  •           Revenue generated
  •           Campaigns Performances
6.     WEB PRODUCT MANAGER
     
      A website product manager understands their customers and designs the content and website based on the customer needs. For a Web Product manager the important web data will be:

  •           Top Bounce Pages
  •           Top Exit Pages
  •           Engagement Rate
7.      MERCHANDISIER -

      Data from the web analytics tools can be exploited to analyze the performance of product categories and increase your online merchandising. Merchandiser can conclude which are their underperforming and over-performing categories, where the effort needs to be put in.
            Some of the KPI’s which are useful for the merchandiser are:
  •           Visits to product category page/Total visit to the site
  •           Number of product viewed per category
  •           Basket Analysis
  •           Transactions Done
  •           Revenue generated
  •           Funnel Analysis


Jul 11, 2011

Are you in a Financial Industry???


 If answer is yes, then this blog post is for you. Before that can you answer the below two questions:

What is your bank online web strategy?
What are the business objectives of the Banks website?
Two types of people will be visiting the Banks website:

  • Banks existing customers
  • Prospects


Both these types of visitors will have different intention/purpose of their visits. Let’s study them one by one.

1)      Existing Customers

Banks want to make their website as a Self-Serve Channel. They want to reduce the cost of service by pursuing their customers to use their online self-serve channel.

How the existing customer will find your site:

Segmentation by Traffic Sources



Purpose of Visit of Existing Customer

  • To do Transaction
  • To look for new product/service

Key Performance Indicators for Existing Customers:

  • Total number of Visitors
  • Average Time Spent
  • Page Depth
  • % New Visitors
  • % Returning Visitors
  • Top Referrers
  • Top Landing Pages
  • Top Bounce Pages
  • Top Exit Pages
  •  Top Geographic  Locations
  • Top Key Phrases
  • Content Consumption (Pages Viewed)
  • Number of times Error Pages  thrown up
  • Sources of Error Pages
  • Error per Transaction
  • Visits to “FAQ” Page
  • Visits to “Support/Help” Page
  • % usage thru iPhones, Ipads, Andriods etc…
  • Path Analysis – Thru Path Analysis you can remove the unnecessary content and  reposition the complex content to later steps.

Create Personas (Customer Segmentation) 



Personas are the customer /market segments which help us in understanding that how visitor is going to engage with the website. Personas are primarily defined on the basis of goals and behavior.
First the Persoans should be created based on the goals and behavior of the visitor and then thru reverse engineering you can segment by their characteristics.

Create the Personas on the basis of:

·         Product/services pages visited
·         Time Spent
·         Goal Completion
·         Demographics
·         Age
·         Gender
·         Education
·         Work

Personas provide us the complete understanding of the customer.



Let’s now move on to Prospects.

For visitors whom we want to convert the most important metric is referring source and keyword used.
Referring source and the keyword used gives the light on customer’s intention. What are the product/service pages they are visiting?

Other KPI’s to measure them are:
  •   % Traffic from Social Media
  • % Visited to “New Account” Form
  • Form Analysis
  • Form Abandonment Rate

What are Key performance indicators you use to measure your financial sector website? Share with us through comments.









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