Doing Stuff With Data or Putting analytics into action
What kinds of stuffdo people do onpublishers sites?• They find out more • They sign up for the about books. publisher E-letter.• They buy books • They find out about (Sometimes through authors and author Amazon or Chapters). readings/events.• They click on the • They read the blog. Publisher’s Facebook • They leave feedback or Twitter page. for the publisher.• They read excerpts. • They get the catalogue.
Let’s look at anexample.• http://www.chroniclebooks.com/
And guess what?All of these actionsare measurable.
With tools like GoogleAnalytics, we cantrack:• How many visits we get • Whether they stayed to our website. on the site, or fled in terror.• Where they came from (search engines, google • Who signed up for our ads, referrals from e-letter, liked us on other websites, or when twitter, or followed us your mom types the url on facebook. right into the browser). • Whether it was their• Whether they bought first visit or their anything. fifth.
But on its own, this infois kind of useless.• Avinash Kaushik • Analyzing is dividing notes the important those figures up, difference between comparing them reporting and to other figures, analyzing. considering important contextual• Reporting is what information, and dashboard does. it gives then making some you a bunch of figures. suggestions for action.
Reporting vs. Analyzing• Usually just numbers, • Considers the business’ raw data. targets.• The number of people • Breaks the data down doing this, the amount into segments (ie. new people spent on that, visitors, mobile traffic) the growth we’ve seen in • compares certain this quarter, etc. numbers against others. • Discusses probable contextual reasons for these numbers. • Interprets what this means for the company. • Suggests action to take in order to improve.
Why do we care?• Analyzing the data • But you’ve still gotta shows us where we’re do a lot of work to doing something wrong. figure that out. (And some guessing.)• Looking at the data for correlations (with other sets of data or with external factors that we’re aware of) can give us clues for how to fix it.
How does this apply topublishing?• Let’s look at Kaushik’s Four best Web Metrics for small business and apply them to some specific publishing examples.
1. Cost Per acquisition• Let’s say you’ve spent a facebook link) actually chunk of your meager made a purchase (which marketing budget on a was your goal). facebook ad campaign - • Each of those one where you pay per purchases, or click. acquisitions, cost you• 300 people clicked on $4. That’s your CPA. your ad. • Compare that to the CPA• You paid $1 per click. of a different initiative, and see which one costs• This campaign cost you more. $300. • Note: CPA can measure• 75 people (of those things other than who came from this sales.
2. Bounce Rate• You work for a fantasy • This tells you that fiction publishing the people who read house. this site don’t want to read your books. You’re• You always send new wasting your efforts titles to be reviewed by here. nerdblog.com, because they always write a • The Bounce rate can nice review. also tell you when a certain page just• Yet when you look at isn’t working, or is the bounce rate for downright offensive. people visiting your (If, for instance, site from this one, you everyone is leaving it see it’s 98%. immediately.)
3. Checkoutabandonment rate• You sell your books • Are they balking at directly from your the shipping price? website. Consider a discount.• However, you find • Make the process too many people are better. Make it nicer. beginning the checkout Make it simpler. (Maybe process, but not just go with paypal.) actually going through with the sale.• Take a look at which step in the process they’re leaving from.
4. Macro conversionrate• You Look at the people • You stop spending so who actually make much money on google purchases on your site. ads.• You see that 50% come • You can also look at to you from organic who buys, say, 3 books searches, 25% come at once. What kind of from facebook, 20% books are they buying come from blogs, and together? Should you only 2% come from consider marketing Google ads. those books as a bundle?
Your web trafficnumbers are tellingyou things.• They’re telling you what’s going right and what’s going wrong.• It’s up to you to try to fix the things that are going wrong.
Start with your goals.1. Sell a certain 2. Provide enough 3. Let yournumber of books. info for them to customer stay in buy . touch.
Then your actions.1. Sell a certain 2. Provide enough 3. Let yournumber of books. info for them to customer stay in buy . touch.Buy button isclear, buying Reviews, excerpts, E-letter is clearmethod is easy, images, and blurbs and attractive,payment method is on book pages. facebook andsecure. Popular titles on twitter links, home page. contact info is obvious, FB & Twitter run well.
And now your KPI’s.1. Sell a certain 2. Provide enough 3. Let yournumber of books. info for them to customer stay in buy . touch.Buy button isclear, buying Reviews, excerpts, E-letter is clearmethod is easy, images, and blurbs and attractive,payment method is on book pages. facebook andsecure. Popular titles on twitter links, home page. contact info isSales (and obvious, FB &sales growth), Visits to title Twitter run well.shopping cart pages, catalogueabandonment, downloads, on-site Traffic totraffic on book searches, clicks Facebook/twitter,pages. on author bios. increase in likes, new e-letter subscribers.
What’s The moral ofthe story?Use the information fromgoogle analytics to seewhat’s not working. Try tofix it, then look back to G.A.to see if those solutionsworked. Try and try again.