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Analysis Paralysis


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Erin explains why you shouldn't fear analytics

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Analysis Paralysis

  1. 1. Erin Steinbruegge Market STL Fall 2010 Free Yourself From Analysis Paralysis
  2. 2. [email_address] @steinburglar How You Can Reach Me <ul><li>Partner and Lead Marketing Strategist @theloudfew. </li></ul><ul><li>SEO and PPC Consultant and Instructor at Buzzhound Learning Labs. </li></ul>
  3. 3. <ul><li>Why Website Analytics is Important </li></ul><ul><li>Measure ROI </li></ul><ul><li>Troubleshoot issues </li></ul><ul><li>Gain business intelligence </li></ul><ul><li>Testing </li></ul><ul><li>Optimize performance </li></ul>
  4. 4. <ul><li>This is an EXCITING time for website analytics </li></ul><ul><li>Many great free options available </li></ul><ul><li>Programs are more robust and integrated than before. </li></ul><ul><li>Website analytics isn’t just for websites anymore… </li></ul>
  5. 5. Everything from your phone to your TV is becoming more measurable
  6. 6. The Analytics Geek is Evolving into a Hero
  7. 7. events referring websites visits exits campaigns bounce rate conversions traffic sources subscriptions keywords abandoned funnels landing pages PPC newsletter blog SEO banners affiliates mobile But How Do You Make Sense of All of This Data?
  8. 8. <ul><li>5 Causes of Analysis Paralysis </li></ul><ul><li>Goals are not clearly defined </li></ul><ul><li>You’re using “out of the box” reports </li></ul><ul><li>You aren’t focusing on actionable metrics </li></ul><ul><li>You aren’t testing or you are afraid to fail </li></ul><ul><li>Analytics was installed improperly or you selected the wrong analytics program. </li></ul>
  9. 9. <ul><li>So How Do We Go from Analytics Zero to Hero? </li></ul><ul><li>Goals for Today: </li></ul><ul><li>Organize your analytics program </li></ul><ul><li>Focus on actionable metrics </li></ul><ul><li>Start testing and failing </li></ul>
  10. 10. Step 1: Get Organized
  11. 11. <ul><li>Define Website Goals </li></ul><ul><li>EVERY website has goals, EVERY campaign has goals </li></ul><ul><li>Set both short-term and long-term goals </li></ul><ul><li>Be specific and write them down </li></ul>
  12. 12. <ul><li>Define Key Performance Indicators (KPI’s) </li></ul><ul><li>KPI’s are unique to each company </li></ul><ul><li>Interview business leaders and decision makers </li></ul><ul><li>Create a list of all KPI’s </li></ul>
  13. 13. <ul><li>Create a Measurement Dashboard </li></ul><ul><li>Track your progress towards goals </li></ul><ul><li>Set defined checkpoints for measurement </li></ul><ul><li>You can download a free analytics dashboard here: </li></ul>
  14. 14. <ul><li>Validate Your Installation & Analytics Program </li></ul><ul><li>Incorrect or incomplete installs are very common. </li></ul><ul><li>Compare reports with internal data such as server logs, sales reports, etc. </li></ul><ul><li>Have you selected the right analytics program? </li></ul>
  15. 15. Analytics Programs Are Not 1-Size-Fits-All
  16. 16. <ul><li>Configure Custom Reports </li></ul><ul><li>Standard “out of the box” reports are not useful </li></ul><ul><li>Custom reports give you a quick view of actionable metrics and important KPIs. </li></ul>
  17. 17. Google Analytics Custom Reports Example
  18. 18. Step 2: Learn to Focus on Actionable Metrics
  19. 19. <ul><li>3 Characteristics of Actionable Metrics </li></ul><ul><li>Don’t require an opinion </li></ul><ul><li>Highly relevant to your business goals </li></ul><ul><li>Required action is instantly obvious and useful </li></ul>
  20. 20. <ul><li>Stop Focusing on Visits </li></ul><ul><li>Hits, Visits and Sessions are all fairly useless metrics </li></ul><ul><li>Measure what people are doing on your website </li></ul>
  21. 21. <ul><li>Understand Conversions Rates </li></ul><ul><li>Default conversion formula = conversions/ visits </li></ul><ul><li>But should it be conversions/ unique visitors ? </li></ul>
  22. 22. Conversion Rates Example <ul><li>Many first visit conversions </li></ul><ul><li>Short buying cycle </li></ul><ul><li>Low commitment </li></ul><ul><li>Little research required </li></ul><ul><li>Small investment </li></ul><ul><li>Takes several visits to convert </li></ul><ul><li>Long buying cycle </li></ul><ul><li>High commitment </li></ul><ul><li>Much research required </li></ul><ul><li>Large investment </li></ul>conversions / visits conversions / unique visitors
  23. 23. <ul><li>Use Event Tracking </li></ul><ul><li>Measure user events such as watching videos or downloading whitepapers </li></ul><ul><li>Gain insight into the type of content your target audience prefers </li></ul>
  24. 24. Event Tracking: Insight to Audience Behavior
  25. 25. <ul><li>Use Advanced Segments </li></ul><ul><li>Quickly isolate subsets of traffic for deeper insight </li></ul><ul><li>Slice data by organic vs paid traffic, visits worth a certain $ value, etc. </li></ul><ul><li>Quickly answer questions from upper management </li></ul>
  26. 26. Creating Advanced Segments
  27. 27. Advanced Segments Example
  28. 28. <ul><li>Bounce Rate is Beautiful </li></ul><ul><li>Bounce rate of top landing pages </li></ul><ul><li>Bounce rate by keywords </li></ul><ul><li>Bounce rate by campaign </li></ul>= Massive Optimization Opportunity
  29. 29. Fix This Page!
  30. 30. Step 3: Test and Fail
  31. 31. <ul><li>Start A/B Testing Now! </li></ul><ul><li>A/B testing is critical to improving conversion rates </li></ul><ul><li>It’s a must that you test conversion pages and landing pages for paid campaigns. </li></ul>
  32. 32. Less than 40% of Marketers Currently A/B Test Hubspot: What’s Worth A/B Testing? Webinar 2010
  33. 33. <ul><li>What Elements Should You A/B Test? </li></ul><ul><li>Buttons and “call to action” links </li></ul><ul><li>Headlines </li></ul><ul><li>Copy </li></ul><ul><li>Offers </li></ul><ul><li>Images </li></ul>Hubspot: What’s Worth A/B Testing? Webinar 2010
  34. 34. <ul><li>Examples of Some Tools That Help You A/B Test </li></ul><ul><li>Google Website Optimizer </li></ul><ul><li>SiteSpect </li></ul><ul><li>Omniture Test&Target </li></ul><ul><li>Your email marketing program </li></ul>
  35. 35. <ul><li>Final Tip: Fail Faster </li></ul><ul><li>The faster you fail, the faster you succeed </li></ul><ul><li>Give each test adequate budget and traffic </li></ul><ul><li>Understanding a fail is a victory </li></ul>
  36. 36. <ul><li>Additional Learning and Recommended Reading </li></ul><ul><li>Google Conversion University </li></ul><ul><li>Web Analytics 2.0 by Avinash Kaushik </li></ul><ul><li>Occum’s Razor by Avinash Kaushik (blog) </li></ul><ul><li>Google Analytics Youtube Channel </li></ul>
  37. 37. Thanks! [email_address] @steinburglar