What about IQNOMY EngageScore

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Visitor numbers are interesting, but in order to determine the actual value of website visitors, you must gain insights into their level of engagement. EngageScore is a unique real-time scoring method ...

Visitor numbers are interesting, but in order to determine the actual value of website visitors, you must gain insights into their level of engagement. EngageScore is a unique real-time scoring method which, based on consumption, participation and contribution, shows the average level of engagement of your current website or webshop visitors in real time.

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What about IQNOMY EngageScore What about IQNOMY EngageScore Document Transcript

  • Welcome to EngageScoreVisitor numbers are interesting, but in order to determine the actual value of websitevisitors, you must gain insights into their level of engagement. EngageScore is a uniquereal-time scoring method which, based on consumption, participation and contribution,shows the average level of engagement of your current website or webshop visitors inreal time.What does Online Engagement actually mean?Online Engagement is a users level of interaction on a website or webshop, Facebook,Twitter etc. The greater the interaction, the higher the level of Engagement.Online Engagement may occur either within your own domain (your website or webshop)or outside it. Examples of the latter include Facebook or Twitter. EngageScore currentlyfocuses on measuring Engagement within your own domain.How can Online Engagement help you?Engagement will have a different meaning for each website or webshop, as each websitehas its own objectives and audience. You will need to operationalize your engagementbased on the objectives of your website or webshop and the characteristics of the targetgroup(s).Sample objectives might include:  Visits: Increasing the number and frequency of visits  Feedback: Receiving feedback about your service and/or products  Co-creation: Developing new products or services together with the target group  Brand perception: Influencing the brand perception  Loyalty: Increasing customer retention and extending the customer lifecycle  Sales: Generating extra turnoverWhich forms of Engagement exist and what value can they offer to anorganization?There are various forms of Engagement within your own domain, such as:Consumption: The actual visiting of the site (the reading of the content) expressed interms of the time spent on the site, page views (per visitor), bounce rate, repeat visitorsvs. new visitors, direct or indirect traffic.Participation: These tend to be soft conversion indicators such as the number of timesthe desired action is taken. These include calculating personalized quotations orrequesting detailed information.Contribution: Sharing ones own content on the site, reviewing products, leavingcomments on pages and blog posts, giving feedback or subscribing to the newsletter &RSS feed.Copyright IQNOMY 2013 1
  • The value of “consumption” and “participation” can be quantified by making a distinctionbetween hard and soft conversions:The hard conversions which are achieved on a page can easily be translated into hardcash. The number of goals (products sold, leads or requests generated) multiplied by the(net) value provides a good indicator of the revenues. Calculating the ROI then involvesworking out the revenues minus the invested online budget. This can then easily bebroken down into costs per visitor.The soft conversions can be measured by attaching a value to the soft conversion. Forexample, if it becomes apparent that for every 100 people who calculate a premium, 10actually buy one, it is possible to attach a value to this soft conversion and to modify theonline communication statements accordingly.Why is Engagement important?Engagement is a very important online success factor, as it has a predictive value. Ifyour visitors are engaged, you can be sure that they will return frequently, have apositive brand perception, tell friends about your products and the brand and buyrelatively often.IQNOMY’s EngageScore will actively help you to improve your website in a targetedmanner by revealing any sticking points. This immediately shows you which adjustmentsyou must make in order to quickly and easily increase the level of engagement of yourvisitors.Measuring Engagement: IQNOMY EngageScoreThe IQNOMY EngageScore currently consists of the Dashboard which is divided intoseveral blocks. An explanation of each block is given below:IQNOMY EngageScore is a unique real-time scoring method which, based onconsumption, participation and contribution, shows the average level of engagement ofyour current website or webshop visitors in real time and compares it with the previousweek. The maximum EngageScore is 5.00.EngagePoints shows the total number of Engagement points for the current day andcompares it with the previous week. These points are based on the actions taken by theCopyright IQNOMY 2013 2
  • visitors. The greater the effort made by a visitor, the more points are awarded. Forexample, someone who is writing a product review will spend more time doing so thansomeone who is signing up for the newsletter.In essence, the formula for determining the EngagePoint value is based on an averagevalue of your visitors’ time of € 42.50 per hour. A commenter with an average level ofengagement, for example, will take 5 minutes to read and respond. Each EngagePointrepresents a value of € 0.47 ($ 0.62).Examples of EngagePoints:Direct visit to the site: 2 EngagePointsVisiting 3 pages: 3 EngagePointsVisiting 6 pages: 6 EngagePointsSubscribing to the newsletter: 5 EngagePointsHard conversion: 10 EngagePointsSharing via Twitter = 7 EngagePointsWriting a review = 10 EngagePointsBookmarking via Delicious = 5 EngagePointsVisitorValue shows the average financial value of a current visitor and compares it withthe previous week. As the average financial value of a visitor increases, the chance of ahigher conversion rate will likewise increase. The standard value is based on € 0.47 ($0.62) per EngagePoint. As more use is made of the EngageScore, this will be refined foreach sector.Copyright IQNOMY 2013 3
  • EngageValue shows the potential value of your current website visitors and compares itwith the previous week. The standard value is based on € 0.47 ($ 0.62) per EngagePoint.As more use is made of the EngageScore, this will be refined for each sector.Expected EngageValue predicts the current EngageValue based on historical data.Check out www.engagescore.com for more informationClick here to start your own free IQNOMY EngageScore account.Happy Engagement,The IQNOMY teamQuestions? Suggestions? Please mail us via support@iqnomy.com, or call +31-13-4653430Copyright IQNOMY 2013 4