Presentation: I was on a panel (webinar) for minOnline and the presentation itself was directed towards the publishers & media industries. Updated deck version.
This section was to set a baseline for a few common ecommerce solutions with give examples. The story behind this section is that as a publisher you need to be aware that the type of products you “sell” and how you sell them needs to be consistent with your brand.
Goals not the individual metrics are what will make you successful with measurement.
This is the process I have successfully used for years for myself and my clients when selecting a vendor. The process is NOT limited to types and companies displayed.
March 24th, 2011 minOnline Webinar – Monetizing Your Online Content 45 Main Street #220, Brooklyn, NY 11222 Phone. +1 718 625 4843 firstname.lastname@example.org
Agenda. Selling On-brand Measure What Matters Vendor Selection Q&A
Metrics are everywhere, so how do you choose the right metrics? *Far from a complete list of metrics to choose from
Metric Selection Is A Counterintuitive Process:Many begin their measurement programs fretting over what metrics to track. Instead, if clearly define your goals first the right metrics will often fall into place.
How to define goals. Keep it simple – choose what you want to achieve and by when.
Goals are specific, quantifiable, & time-boxed. No
Increase Traffic on Top 20 keywords by 5% by end of next quarter
Decrease site-wide Bounce Rate by 10% within 30 days of next design update
The right metrics are those that directly affect your goal. Goal: increase “Average Order Value” by $3 in six months Key Performance Indicator (KPI): Current AOV* = $17 * AOV (Average Order Value) = Sum of Revenue Generated / Number of Orders Taken
Balanced Scorecards help you easily manage your goals. Example: Ecommerce Balanced Scorecard
Vendors are everywhere, so how do you choose the right vendor? Commerce Engine Onsite Search Web Analytics *Vendors listed does not imply endorsement by Marko Hurst
Vendor Selection Is A Counterintuitive Process:Most organization typically begin vendor selection by engaging with vendors from the beginning. Instead, if you define your goals, identify the time and resources necessary to achieve those goals the right vendor often becomes evident very quickly.
3-step vendor selection process. People Process Vendor
Step 1: Define goals & best case usage of the “product”. People Process Vendor Create desired outcome(s) Define KPIs Capture current process (if any) Perform gap analysis Create desired process
Step 2: Capture available resources, skills, and time needed to use the “product”. People Process Vendor Create desired outcome(s) Define KPIs Capture current process (if any) Perform gap analysis Create desired process Capture current resources Capture current resource:
External resources Perform gap analysis Perform ROI analysis
Step 3: Select a vendor that best fits your Process & People. People Process Vendor Create desired outcome(s) Define KPIs Capture current process (if any) Perform gap analysis Create desired process Capture current resources Capture current resource: