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Digital Marketing Auditing - Conversion Funnel and KPIs

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Conversion Funnel & KPIs
Digital Marketing Auditing
Borislav Kiprin

"Defining the Business Goals. How to establish the conversion funnel?
Business existence is based on the ability to create an economic value for its stakeholders. In that sense, before building a website or make changes on one, we should define our business goals and ..."

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Digital Marketing Auditing - Conversion Funnel and KPIs

  1. 1. EI MDMK10 Borislav Kiprin Conversion Funnel & KPIs Digital Marketing Auditing – Session 1 Individual Report Plovdiv, 4024 Phone: +359 879993700 E-Mail: bk@borislavkiprin.com Web: www.borislavkiprin.com
  2. 2. 2 Borislav Kiprin Defining the Business Goals. How to establish the conversion funnel? Business existence is based on the ability to create an economic value for its stakeholders. In that sense, before building a website or make changes on one, we should define our business goals and the purpose of that site on the road to achieve them. The critical cycle or the so-called marketing funnel is as follows: Defining Awareness Interest Business Goals • Get the • Offer product/ differentiatio service out n and need there. satisfaction Create Purchase Awareness Consideration Purchase • Make • Create an product/ user friendly service info point of available purchase Consideration Drive Interest Defining KPI’s. How to construct KPI? Different KPI’s for different site types? Key Performance Factors help defining and measuring progress while trying to achieve set business goals. It is important to have the agreement among the leadership in the company when identifying and setting the KPIs. These indicators are quantifying results of taken actions towards achieving the goal(s) or identification of fields that need optimization or improvement. They represent metrics and ratios that differ depending on the purpose of the website at hand with the following examples: eCommerce Lead Generation Customer Service Content Branding • Overall • Overall • % Support • Ad-Based • Average Time Purchase Conversions Touches Served • Visits per Week per Visit Conversion • Conversio by Online • Visit Length • Page Views per • Average Order Campaigns • Average Cost • Ad Click Ratio Visit Size • Drivers to the per Touch • Recency & • Return Visits • Items Per Order Registratin • Drivers to Other Frequency over time • Step-by-Step Process Support Methods • Average Order • Subscription- Purchase • Registration • Onsite Search Based Value per Person Conversion Process Drop- Effectiveness • Conversion of • Purchase - outs • Survey Results Nonsubscribers funnel Defectors • Conversion of to Subscribers • First Time vs,. Leads to Actual • Active Returning Buyers Customers Subscriber Base • Average Subscription Length KPIs should be monitored on regular basis and in different intervals of time in order to obtain clearer picture on the trends of the website consumption and evaluate the impact of changes made to it.

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