Critical Components of aSuccessful Web Analytics Strategy?
Focus on Customer Centricity• Most Businesses ask question: – What is the Website doing for me?• Ask our own E – Commerce website: – Why are you here today?• Fact….. – Only 15 % - 20 % come to purchase and the rest come for jobs , order status, complaints , checking prices etc…• Measuring success with clickstream data and attributing success to it is wrong? – For eg. From a page view we cannot come to know whether the customers met their objectives after viewing the page.
• For long term success it is critical to ask – NOT what the website is doing for your company? BUT – How the website is doing in terms of delivering for the customer?• Focus on measuring how our website is delivering for our customers can help us immensely. – Consider the reason why the website exists? • Consider the reason from the customers perspective and not business perspective.• Solving for your customer’s needs encourages a long term mindset and in turn long term success. – Challenging to convince the Top Management that • Solving Customer Problems Will Solve Company’s Problem – As a Web Analyst it will help you measure beyond Click stream analysis and into deeper Outcomes and Qualitative Analysis both which will give us Actionable Insights to solve customers problems.
• Trinity Approach --> provides Customer Centricity → emphasis on measuring all facets of Customer Experience → Helps us to deeply understand “Why customers come to our website? & how website is doing in terms of solving their problems?”• Businesses using Trinity Strategy will have the following metrics: – Primary Purpose ( why are you here?) – Task Completing Rates ( were you able to complete your task?) – Content & Structural Gaps( How can we improve our experience?) – Customer Satisfaction
• In Trinity approach these metrics can be correlated to: – Bounce Rates ( can the customer quickly find what they are looking for?) – Conversion Rates ( Are those who come to buy able to accomplish the task?) – Revenue ( Is the revenue inline with our goals for the website?) – Multichannel Impact
Focus on Solving for Business• Before starting the Web Analytics journey ask the Business: – What questions they want answered?• Ask the Stakeholders: – What Real Business questions are worrying them & how can you help answer them. • How can I improve revenue by 15 % in the next 3 months from our website? • What are the most productive inbound traffic streams and which sources are we missing? • Are we able to solve our customers problems via self help on the website rather than customers feeling like they have to call us?
• What is the impact of our website on our phone channel?• How can I increase the number of customers through our website?• What are the most influential content parts on our website?• Does full trial or flash demos work better on our website?• What are the top 5 problems that our customers face on our website?• What is the effect our website on our off-line sales?
Most Important Foundational Element of any Web Analytics Program(1) Ask Real Business Questions.(2) Understand the Business Questions.(3) Have the freedom to do what it takes to find the answers to those questions.
• Start the process of Business Questions: – Before you have the web analytics tool. – Before you know what the site does or what the site is?• Doing this will mean that you are not just reporting but answering Business Questions.
Follow the 10/90 Rule• Problem: People / Business stakeholders/ Top management complain most of the time that they have huge amount of Data with reports , presentations but NO Actionable Insight , No Awareness of what is going on but only click stream data.
• Solution – Follow the 10 / 90 Rule • Spend 10 % budget on Tools and • 90 % on people (brains) who will be responsible for insights.
Success of Web Analytics lies in the People and not tools and cool technology.
If your Organisation doesn’t follow the 10/90 Rule ?1. Set up a free Google Analytics Account on www.google.com/analytics2. At the end of sign up you will get a Java Script Tag . Implement that on your organisations website. Also set up your expensive analytics tool.3. Compare the sets of data with difference from both the tools. ( visitors, conversions, page views etc)
4. Cancel the contract with your expensive Analytics vendor. Use the money to hire a smart and brilliant Web Analyst. The smart and brilliant analyst will be able to extract the same value or more from Google Analytics as from your old tool.5. Once the organisations understands this they will be willing to put money to hire more junior analysts and also acquire an expensive tool from a vendor.
Remember A Smart Brain can extract more valuefrom even a simple tool but thereverse is never true.