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Measure what Matters - Outcomes

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Presentation from CIMCIG Digital Marketing Workshop in March 2011. This presentation focuses on measuring what matters for your website.....outcomes or leads and understanding conversion rates.

Presentation from CIMCIG Digital Marketing Workshop in March 2011. This presentation focuses on measuring what matters for your website.....outcomes or leads and understanding conversion rates.

Published in: Technology, Business

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  • Ha ha, yep always hard to make a presentation work perfectly in Slideshare as you don't have all the verbal comments automatically included. Great presentation though, useful reading.
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  • Hi James,

    Of course. A lesson learnt here, if creating a presentation for speaking events, remember to add the points into the slide which were said verbally for when reading back on Slideshare.
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  • Thanks for sharing Pritesh. One comment about bounce rate - high doesn't necessarily mean poor page performance. It could be a logical outcome e.g. blog posts usually attract much higher bounce rate than product landing pages due to nature of visitor intent.
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  • Your website is at the heart of your digital marketing strategy. You are conducting campaigns to drive traffic through to your website. You are spending money on email campaigns to drive traffic through to your website or landing page. You are spending money on social media, advertising, search optimisation to drive traffic through to your website. Your website has a very important job to do and that is to turn visitors into leads. So whilst you are measuring retweets, clicks, opens and likes….you should be measuring the effectiveness/performance of your website to turn your visitors into leads. What is the point of driving more traffic to your website if your website doesn’t do what its meant to do already?
  • In order to measure the performance of your website you will need to have a measurement tool in place. The most common is Google Analytics which is free and easy to install. There are problems however, with all analytics software. They are there to puke out data. Marketers are faced with an overwhelming amount of data and its difficult to interpret that data and turn it into actionable insights. And then marketers often report fluffy metrics such as visits and page views rather than the must knows. The must knows are what your bosses or directors want to know. What impact is all this marketing having on the business?
  • This is nice to know. Why report that visitors have increased by 45%? So what? What impact has that additional 45% had on the business?
  • This is nice to know. Why report that more and more pages are being read? So what? What impact has that had on the business?
  • This is nice to know. Why report that search traffic has doubled over the last 9 months? So what? What impact has that additional traffic had on the business?
  • So marketers need to stop focusing on the ‘nice to knows’ like visits and pageviews and traffic from search in isolation. Marketers need to correlate the nice to knows with must knows. Visits to our website has increased by 50% which as resulted in an increase in leads generated by 10% Search traffic has doubled and we are now ranked on the first page for all of our product pages. We have also seen an increase in product brochure downloads because of this. Report results, report outcomes. Measure what matters.
  • Outcomes are goals. Outcomes are actions that you want to happen on your website. Every website needs to have at least one goal. One aim. If you don’t then why does it exist?
  • These are examples of goals or outcomes. They can be a combination of contact forms, downloads, requests, sign ups or registrations on your website. It is where the visitor to your website exchanges their details for your information or the value on offer.
  • Think of your website as a conversion funnel. Your bringing traffic to your site by implementing expensive campaigns across many channels. At the top of this funnel you will have some bad traffic. It is important to know how much bad traffic you are getting and quickly eliminating the sources of bad traffic. You will have a segment of visitors who just browse the site and do nothing else…how do you move these visitors onto the next stage where they become interested in downloading a brochure or requesting a call back? Then you have those who convert into leads. It’s only going to be a small percentage……but how many leads is your website generating for you? You need to focus your measurement on the conversions. Not the top. You need to know how many leads your website is currently generating in order to fix the top of the funnel.
  • You can measure your outcomes in Google Analytics by implementing Thank you pages and confirmation pages within your website after all the goals. For example, after your contact form have a thank you page. The only way visitors can view the Thank You page or confirmation page is to fill out a form or subscribe with an email address which you can capture.
  • Examples of Thank you pages or confirmation pages.
  • Set up Goals in Google Analytics to track visits to the confirmation pages. Enter in Goal name (e.g sign up or registration or download or request or callback) Enter the URL of the page Hit save. You can set 20 goals max for your website.
  • After 3-4 weeks log back into your GA account. Select the ‘Goals’ report and you will see something which looks like the above. You will now be able to see how many conversions you are receiving for each goal set on your website over the selected time frame. Now you can ask better questions such as “What did we do which resulted in the spike over these 3 days?” Was it your press release? Was it your banner ad? Was it a surge in traffic from your blog post? Now you are measuring what matters…..outcomes.
  • Important KPI to measure over time. Your website conversion rate. Monitor your conversion rate month on month. Compare this quarter to last quarter. Is it growing? If so why? Is it falling? If so why? Is it because you stopped doing your banner ads which was actually a good source of traffic and conversions?
  • Another important KPI is loyalty. How often to people keep coming back to your site? What is so great that people want to come back to your site? This should give you an idea of you social media efforts. The better the content (videos, blogs, white papers, podcasts, news) you provide the more loyalty you will receive and people will keep coming back for more. Measure this over time and see if you are increasing loyalty.
  • So its important to set objectives and goals for your website. Ask yourself Why does this website exist? What do I want to get out of it? Then set an objective and set some goals related to that objective. For example, if you have a specification tool on your website you may want to increase the number of specifications carried out on your website. Therefore your objective will be to increase product specification. Then you KPI’s are going to be conversion rate for sign ups/registrations for this online tool, how many people complete the specification and how many keep coming back to use the tool time and time again. If loyalty decreases it could be that your online tool is not as easy to use to some technical fault causing people to not return.
  • One key metric to focus on is Bounce Rate. Bounce rate is a metric which can tell you very quickly what is good and what is bad.
  • Bounce rate measures ‘the number of visits to your website with only one page view’. So obviously the higher the bounce rate the more visits with only one page view. The only exception is blogs. Blogs are meant to be one page view visits as most will read one blog post and then leave the site. If you have multiple product pages or lots of content on your website with appropriate call to actions then your bounce rate will want to be around the 35-40% mark. Average is 40%-60%. Anything higher than 60% requires immediate attention. High bounce rates could indicate you have a poor design resulting in visitors leaving the site straight away because your website does not look professional or looks very old. High bounce rates could also indicate that landing pages for your banner adverts or PPC ads are not relevant. Key messages within your adverts are not contained within the landing page. Don’t make visitors hunt for the information they saw in the ad. And finally, high bounce rates can also indicate that you are receiving unqualified traffic from sources.
  • View the bounce rate for your top pages. This will tell you which pages need urgent attention.
  • Check the bounce rate for keywords. Doe the keywords or terms match the content on your website?
  • Check the bounce rate for each source that bring you high volume traffic. Quality over quantity. Improve or eliminate the sources with high bounce rates.
  • Driving traffic through to your website is important. But do you know which sources are generating you leads and which ones are not? By measuring outcomes by source you can identify which sources (banner ads, links, paid ads, other websites) are sending you traffic which doesn’t generate you leads or sticky visitors (visitors who stay on your website to consume more info)
  • Measuring campaigns with multiple channels can get complex. All sources (emails, ads, social media, pr) all need to be tagged with parameters. Requires consistency so that data can be grouped within Analytics for each campaign and channel. Refrain from tagging with upper case and lower case. Example: source=Building and source=building. This is classed as two sources.
  • For print adverts use microsites or unique URLs to separate usual everyday traffic to the campaign traffic. Use unique phone numbers so you can measure how many phone calls have been generated from the campaign and from which channels.
  • This is the report you should be reporting to your bosses. This shows how many visits and conversions resulted from each source. You can see that banner ads are not generating and leads but the print ads have a 100% conversion rate. Don’t make decisions based on the number of visits each source generated. Measure what matters…outcomes.
  • Now calculate the cost per lead for your email campaign.
  • Repeat this exercise for all of your channels. Again, don’t make decisions based on visits. Look at conversion rates and cost per lead. Identify high volume, low cost channels and do more of that. Put your budget and resources to more effective channels.
  • If you have an e-shop, generate a report in Google Analytics which shows you the revenue generated by each source. Identify where more effort and resources can be put to increase revenue.
  • Measurement is part of a process. Be sure the set objectives, measure against those objectives with goals and outcomes, analyse the data and find out what's working and what isn't and then put some actions in place to either improve it or eliminate.
  • Transcript

    • 1. Measuring what matters By @priteshpatel9 Blog: http://blog.pauleycreative.co.uk Twitter: @PauleyCreative Facebook: www.facebook.com/PauleyCreative
    • 2. Measurement Tools
      • Problems or issues with measurement:
      • Reporting ‘nice to knows’ rather than ‘must know’
      • Overwhelming amount of data
      • Interpretation of data
    • 3. This is nice to know…
    • 4. And this….
    • 5. And this….
    • 6. Stop focusing on ‘nice to knows’ and start measuring the ‘must knows’
    • 7. Outcomes
    • 8. What are outcomes?
    • 9. The Conversion Funnel
    • 10. How do I measure outcomes?
      • Measure outcomes by creating ‘thank you’ pages after an action
    • 11. The ‘Thank You’ Page
    • 12. Tracking the ‘Goal’ page
      • Set up Google Analytics to track ‘thank you’ pages as Goals
    • 13. Measure what matters
      • Now you can view all the outcomes/goals which happen on your website over a period of time.
    • 14. Important K.P.I’s
      • Conversion Rate – how many outcomes have been generated?
      • But what are the other 76% doing?
    • 15. Important K.P.I’s
      • Visitor Loyalty – how often do people keep coming back?
    • 16. Setting Objectives & Outcomes
      • Objective: Get visitors to complete more online product specifications
      • KPI: Online specification sign up conversion rate
      • KPI: Online specification completion rate
      • KPI: Visitor Loyalty
      • Example of setting objectives and outcomes for a website which has an online calculation/specification tool to generate leads
      • Focus your measurement on what matters, your objective!
    • 17. Bounce Rate
    • 18. The Bounce Rate
      • The ‘sexiest’ metric of them all
      • Measures visits with only one page view
      • High bounce rates (60%+) requires investigation:
      • Poor content or design
      • Landing page has no relevancy
      • Poor quality traffic being sent by source
      Poor performance Good performance
    • 19. The Bounce Rate
      • View the bounce rate for all key pages on your site
      • Above data shows 2 key pages performing poorly. Must fix these pages in order to keep people on my website
    • 20. The Bounce Rate
      • View the bounce rate for keywords used to get to your site
      • Above data shows 4 keywords attracting poor traffic. Is it because the search query doesn’t match my content?
    • 21. The Bounce Rate
      • View the bounce rate for each source
      • Above data shows 1 source sending unqualified traffic. Either improve the messaging or eliminate from spending anymore
    • 22. Measure sources of traffic
    • 23. Tracking Sources
      • Tracking & reporting outcomes by source is important
      • This is where you are spending valuable budget on driving traffic to your website. You need to know if it’s well spent.
    • 24. Tracking Sources
      • Campaign set up is a pretty complex procedure
      • Involves tagging links and creating unique identifiers for all links
      • Tagging requires consistency across campaigns and channels
      Read our guide to Tagging : http://bit.ly/guidetotagging http://www.manufacturer.co.uk/? utm_source=building_apr & utm_medium=bannerad & utm_campaign=ProductAlaunch
    • 25. Measuring Print
      • Use unique URL’s or microsites (e.g www.mycampaign.co.uk)
      • Use shortened URL’s where possible (tinyurl, bit.ly)
      • Unique phone numbers (0845 445 445 and 0845 445 446)
    • 26. Conversions by Source
      • Make better decisions as to where more resources are to be placed and which sources are to be eliminated.
    • 27. Calculating Cost Per Lead
      • Specification tool email campaign
      • Cost = £500 to design and broadcast email to database
      • 556 visits to the landing page from the email campaign
      • 153 signed up for the Specification tool
      • 27.5% conversion rate
      • £3.26 per lead
      • Work out the cost per lead for all your activities. Which campaigns have cost the most to generate leads? Was it worth it?
    • 28. Cost Per Lead Comparison
      • View conversions and cost per lead for every campaign and source of traffic. Don’t make decisions based on number of visits
      Source Cost Visits Conversions Conversion Rate CPL Print Ad 1 £5,000.00 89 75 84.27% £66.67 Print Ad 2 £2,500.00 83 34 40.96% £73.53 Print Ad 3 £8,000.00 145 21 14.48% £380.95 Email 1 £550.00 550 146 26.55% £3.77 Email 2 £550.00 700 153 21.86% £3.59 Newsletter 1 £300.00 23 2 8.70% £150.00 Newsletter 2 £300.00 20 2 10.00% £150.00 Banner Ad 1 £2,500.00 87 3 3.45% £833.33 Banner Ad 2 £1,500.00 100 14 14.00% £107.14 Banner Ad 3 £3,000.00 7 0     Directory Link 1 £250.00 5 0     Directory Link 2 £100.00 8 2 25.00% £50.00
    • 29. If you have an e-commerce site
      • Identify which sources are generating you good revenue for little cost. Where do you put most of your efforts? Twitter? Blog?
    • 30. Part of an Ongoing Process
    • 31. Summary
      • Overwhelming amount of data – measure what matters
      • Important to set objectives for your website
      • Ensure you identify what the goals are on your website
      • Create Thank You pages or Confirmation pages for every goal
      • Create Goals in Analytics
      • Ensure you report Conversion Rates and Cost Per Lead
      • Keep testing and refining your campaign to increase conversion rate or reduce cost per lead
    • 32. Construction Marketing Blog: http://blog.pauleycreative.co.uk My Digital Insider Newsletter: www.pauleycreative.co.uk/my-digital-insider