Return on Investment (ROI ) for Web Content Management (WCM)
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Return on Investment (ROI ) for Web Content Management (WCM) -- Siteworx Webinar; presented with Beau Brewer
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Return on Investment (ROI ) for Web Content Management (WCM)
- 1. May 12, 2011 ROI for WCM Siteworx 11480 Commerce Park Drive Third Floor Reston, VA 20191 www.siteworx.com
- 5. Siteworx ROI for WCM Calculator
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Editor's Notes
- This is meant to be impossible to read – just making the point that this can seem overwhelming when you consider building the business case.
- This is how most companies decide to make a WCM investment – when they really feel the pain of a highly inefficient process to manage their web content Hardware consolidation via Cloud – talking point: this is a hot topic in technical circles, but once you get away from the jargon, it’s easy to understand the business case. Consider a tax preparation company or any company with high seasonality. If you pay for your own web capacity you have to pay for your peak utilization all year. Alternatively, if you adopt a WCM solution that is designed for cloud deployments, you can match your capacity (and cost) to your seasonable demand Examples - Large insurer (Nationwide) who found that it took 2 man-months of effort to publish a new article - Another insurer (XL Group) who built a business case for WCM simply to avoid multimillion dollar penalties when a state regulator told them that some new offering needed to changed or removed from their website because it conflicted with some part of state law - A bank (Navy Federal) whose CTO tried to sell WCM internally to marketing, but they liked being able to just write/design the content and send it to IT to implement. So the CTO built a technical business case about having his own people (even those with the technical capabilities to do web development) do the content updates more efficiently using a WCM.
- Since most people come to WCM because of painful inefficiencies, this point is often overlooked, but in most organizations, a good revenue driving business case is a great way to approve dollars Increased engagement – Talking point: People have an increasingly short attention span online. Supporting stat: decreasing time for people to bounce off your site—need to find this stat. To combat that practice, there are many best practices with online engagement--such as tying your landing page content to the keywords that brought people to your site OR better yet, automated personalization technologies—but to follow those best practices, you need a tool that makes you nimble at adjusting, tweaking, and personalizing content. Increased conversion – Talking point: To the short attention span point, there is a 50% drop out rate every additional screen in a checkout process. As a result, one of the first types of organizations to adopt online testing (A/B and multivariate) were eCommerce sites. As the online channel becomes increasingly important to banks and insurance companies, being able to do online testing on your conversion funnel is increasingly important but without a good WCM tool, the best analytics package in the world won’t let you adjust quickly. Examples - Channels - Mandarin ROI on mobile. Tie to Mobile banking. - Others?
- Branding is always tricky for ROI, but brand budgets within marketing departments are often huge. So one way to find the money to do a WCM implementation is to piggy back on a web redesign effort. In fact, since both redesign and WCM implementation/replatform/upgrade are disruptive to web presence, it makes sense to do them together. That’s why siteworx is structured in the way that we are (50/50 design and ux versus technical) Examples Large financial advising institution (AIG) who had an extranet portal used by many thousands of quasi-independent advisors to work with their clients. WCM implementation allowed each advisor and all of their customers see the consistent brand messaging (as well as advisor-specific content) through sophisticated multi-site management Multinational conglomerate (Brink’s) who built a business case almost exclusively around multi-site management so they could coordinate key brand images and messages across different countries while still allowing controlled localization.
- Examples - B2B2C Scenarios - Large insurer (Nationwide) who sold white-label online insurance sites to other companies. 2+ month delay from selling product to standing it up. - Large investment bank (Goldman) whose IT insisted they could build a better WCM than cots products—12 months later, IT underdelivered and Marketing turned to a managed hosting solution for a microsite deployment that let them completely take the management of their website out of ITs hands. - Can we work in the JPMC outsourcing fiasco in here?