taking_your_analytics_data_beyon-davide_leigh.ppt

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  • [Steps based on http://www.promotionworld.com/tutorial/google/ http://www.hochmanconsultants.com/articles/internet-marketing-process.shtml http://www.associatedcontent.com/article/21573/owning_a_website_is_more_than_just.html?page=2&cat=15] You’ve got our business case nailed, your roadmap is defined and your goals are set… The economy is tough these days but your financing in place as is your go-to-market plan… Your website is ready and you were even ahead of the curve by getting it in front of some potential customers to get comments and feedback. Maybe you worked with an SEO consultancy or decided to go it alone – your campaign is in place and wha-da-ya-know? visitors are arriving on your site! Maybe even hundreds of site visitors… so what’s the problem? The problem is – they are typical visitors and they’re not buying. So what did we do wrong? Despite all the improvements in SEM, Search, Internal Search and analytics tools over the last 2-3 years, the average conversion rate, (and nearly without exception, regardless to your definition of conversion) for website visitors, who are left to their own devices is only 2% - or put another way, that’s 98% of all of your website visitors will land on your site and will provide you no value. Now there are speakers at PubCon far more qualified than me to tell you how to save money on these visitors and get them to your site for free – but this is basically our problem – and we can see it in our analytics reports: Visitors are abandoning their shopping carts Visitors are leaving the site without having completed the ordering process Some had payment issues of some kind And others we have to presume simply didn’t find the information or product they were looking for… That’s a lot of things we don’t know – and we’ve already seen some really smart and innovative ideas so far at PubCon for helping answer these questions – but what we do know for sure is that it’s costing us money to get a visitor to our site, and without engaging with that person somehow, we have a 98% chance of losing money on that click.
  • Here is how it happens -take out the Timpani -take out the visitor side area
  • E-Retailing is just about selling I want to tell you a little story if I may about my father-in-law… a lovely gentleman by the name of Nir Berman who owns a small but successful company called Nirtech, reselling computers and hardware on tenders and government contracts to large public institutions: schools, colleges, government agencies and the like. Now my father-in-law, bless him – prides himself on being an old fashioned salesman – he started off selling office supplies and telex machines. He doesn’t have a store these days, but he still loves the days when he can get out of the office, go see his customers face-to-face, look them in the eye and close the deal. But Nir said something funny to me a couple of weeks ago. One day I asked Nir why he started his website, and he said it was because a few years ago, everyone else in the computer business was doing it, and one of his customers suggested it would be a good idea for him to have an online catalogue too. So off went Nir and invested in a site, and in some online advertising and keywords, and till today he continues to invest a lot of time and energy and money in maintaining a site that he is very happy with. Except that he’s not happy with it – because he’s just not 100% sure that his site is actually working for him. He know that he’s happy with: the number of hits he gets the number of leads that it generates the prestige and web-presence it gives him – but remember that Nirtech caters for those “larger institutional companies who won’t order online” (that’s what Nir tells me) and Nir has absolutely no clue who are these other 3,000 visitors on his site every month and why they are there. He can see them there in his analytics reports, and he can see their searches in his keyword reports, but he has all the big customers he can handle right now and he doesn’t even have a shopping cart on his site. What’s frustrating him, and what frustrates many companies with single-digit conversion rates is not knowing why... In Nir’s case he realises that he might be wasting a huge proportion of his SEO spend on getting the wrong-type of visitor to his site OR as I suggested to him, these might just be the right-type of visitors and Nir might possibly have this whole new and lucrative potential business banging on his door right now. So I asked him what he’d do in the old days – back when he had a store and his answer was beautifully simple: he said: “I’d just say ‘hello’ and ask them what I can help them with”. And I thought that was such a great answer – because Nir is finally starting to understand what successful online retailers have already realized – and that is that nothing has changed between the virtual and real store. When we a build a store, or provide a service, we know the most important thing are our staff - they are the embodiment of our business and our values to your customers. In real time, great salesman, just like Nir, will welcome their customers, step back and watch from a safe distance and offer assistance as and when it’s required. Don't let you webmaster define your business/sales strategy - don't let them define the way you want to interact with your customers. Customers aren't on your website to buy your website- they're there to buy your products Many of the Conversion Optimization tools available today are truly impressive – and I do recommend you consider them too, but do consider that most online consumers check at least four sites before making a purchasing decision, so if you want to stand out from the crowd, you’ll want to consider what makes a difference to a potential buyer. Because more important than design, and layout and X, the most important thing is trust. Real people have an emotion experience every time they part with their money and given a choice, in a bricks-and-mortar store, or online – they will buy from someone they trust. So when you think about trust, think about real-time engagement. SLIDES I want to just ask a quick question – and we can have a show of hands - keep them up: How many of us here are selling something online? And how many of those are also selling offline – not on the internet? And how many of have ever personally met someone – and sold them something?
  • Real-time Engagement Really Works Why do customers like to chat? Instant Messaging for Instant Gratification Most customers look at at least four different websites before making a purchasing decision. That means that a customer will be looking for ways to make their selection easier. This is most commonly done by simply excluding those sites that don’t immediately answer their questions or requirements within the site content. Excluding means closing your window – that means there’s no second chances. Quicker than email - Most customers who send emails then leave the site immediately afterwards. If they happen to find their product in their next window, with your competitor they will simply buy there instead. No second chances. Less explicit than calling Customer wants to remain anonymous A call can feel more of a commitment than chatting Might not be able or be comfortable to call from certain locations such as work Live chat is free – calls cost money Quicker. They don’t want to wait in line for an operator, or have to navigate complex voice menus Some customers will simply not have access to a phone Chat is a differentiator Buyers compare prices before purchasing, but are more importantly, they also compare sites looking for something that makes one better or worse. Offering chat shows a commitment to service, and to listening to your customers. That speaks volumes to your prospects about how you value your customers. Visitors who chat demonstrate a higher level of satisfaction, loyalty and are X % more likely to purchase. Why do site owners like chat? Chat can be used to move the visitor closer to purchase Reduce abandonment and increase completion rate Increase average dollar value per order with chat engagements - the personal engagement with a sales or service agent at the time of purchase adds the potential to persuasively upsell or cross-sell additional products or services. Allows you to engage your site visitors in a conversation. This conversation is two-way and can help you learn: Which pages are the have trouble with? Should these be redesigned? What questions are being asked most commonly? Should you add more descriptive content? Which products are visitors looking for? Consider redesigning menus and navigation to more easily find special offers and popular items The ‘trust’ factor is often more important than price in online purchasing decisions. Build relationships and trust with your prospects by making you (or one of your customer service team) available to personally answer questions or help them to take action. Allows the site owner to monitor and maintain a high quality of customer service by regularly reviewing the chat transcripts. Most paid chat systems include real-time website monitoring allowing you to be more proactive about inviting visitors and not to wait until they come and chat with you. Most paid chat systems also include retroactive reporting tools which can compliment your own analytics reports (Google, Omniture, Hitbox) Cost savings - Customer service representative can only handle one phone call at a time versus 2-3 chats simultaneously. Using live chat can increase your conversion rate – but don’t forget – it’s not the chat that sells – it’s you or one of your customer service staff. Chat leverages your skills - you run your business because it's something you know – you're the expert – chat will let you go and sell. And the statistics back this up…
  • West Valley City, Utah
  • taking_your_analytics_data_beyon-davide_leigh.ppt

    1. 1. Beyond Analytics: Listen to your customers David Leigh, Product Marketing Manager, LivePerson Inc.
    2. 2. Why is SEM/SEO only the start of the story? <ul><li>Think of SEM/SEO as a means to an end… </li></ul><ul><li>We did that but we’re still not millionaires… </li></ul><ul><li>Non-Interactive Conversion Rate remains unchanged at 2-3% </li></ul><ul><li>Successful e-commerce sites have added ‘engagement’ to this process… </li></ul>Create an Internet marketing plan Evaluate your Website and fix the problems Use web analytics to learn from visitors Promote your website via PPC etc Search Engine Optimization Maintain quality of your site. Rebuild when revenue falls $$$
    3. 3. Engagement Turns Visitors to Conversions
    4. 4. The Challenge with Web Analytics Analytics provides you a ton of data about what just happened on your site. But how do you turn that data into information you can use? Does this data really tell you what you need to know about your site visitors? What if you could ask them?
    5. 5. <ul><li>Over 200M people use IM today </li></ul><ul><ul><li>Projected to be 400M by 2010 </li></ul></ul><ul><ul><li>31.2% use it for Business Communications </li></ul></ul><ul><ul><li>Gen Y and Gen X largest user population </li></ul></ul><ul><li>Immediate way for you to connect with your online customers </li></ul><ul><ul><li>>20% of customer that chat make a purchase </li></ul></ul><ul><ul><li>Provides information they need to make the purchase offline </li></ul></ul><ul><li>Shows you to see your SEO/SEM spend in real-time </li></ul><ul><ul><li>Allows you to align the right resource to the right situation </li></ul></ul><ul><ul><li>Providing a sales resource to a sales opportunity drives order value: 35% lift in AOV </li></ul></ul><ul><li>Reduce Costs by deflecting service related inquiries </li></ul>Why Chat?
    6. 6. The Power of Real-time Analytics What if you could see what was going on in your site in real time? Start a dialogue with those customers you feel are important Understand why they did what they did All while they are still on your site Building a relationship with your customers!
    7. 7. And the statistics back this up… <ul><li>Forrester Research, Inc. report: </li></ul><ul><li>The ROI Of Interactive Chat - A Total Economic Impact™ Analysis Uncovers Big Benefits Of Proactive Chat by Chip Gliedman (February 4, 2008) </li></ul><ul><li>Key findings: </li></ul><ul><li>Introduction of chat will add incremental costs to the organization </li></ul><ul><li>Forrester’s TEI analysis of interactive chat showed that investment in reactive chat is likely to produce a small positive return on investment (ROI) of 15% </li></ul><ul><li>Whilst an additional investment in proactive chat capabilities will produce an incremental 105% ROI </li></ul>
    8. 8. Real-time Engagement Really Works <ul><li>Why do customers like to chat? </li></ul><ul><ul><li>Instant Messaging for Instant Gratification </li></ul></ul><ul><ul><li>Quicker than email </li></ul></ul><ul><ul><li>Less explicit than calling </li></ul></ul><ul><ul><li>Chat is a differentiator </li></ul></ul><ul><li>Why do site owners like chat? </li></ul><ul><ul><li>Reduce abandonment and increase completion and conversion rate </li></ul></ul><ul><ul><li>Increase average $$$ value per order </li></ul></ul><ul><ul><li>Allows you to engage your site visitors in a conversation - never underestimate the power of ‘trust’ </li></ul></ul><ul><ul><li>Monitor customer service by reviewing chat transcripts </li></ul></ul><ul><ul><li>Watch real-time website traffic with influence if needed </li></ul></ul><ul><ul><li>Retroactive reporting tools to compliment analytics reports </li></ul></ul><ul><ul><li>Chat leverages you – you're the expert – chat will let you go and sell! </li></ul></ul>
    9. 10. Target Visitors – What should you look for? Visitor referred by a search engine or marketing campaign Web behavior provides clues as to visitor intent Frequency of visits to a particular page or item Visitors at risk of abandoning a cart or an application
    10. 11. Customers Results <ul><li>Increase Conversions </li></ul><ul><li>Increase Order Value </li></ul><ul><li>Customer Satisfaction </li></ul><ul><li>Reduce Service Cost </li></ul>
    11. 12. Customer Success Story
    12. 13. Client Overview <ul><li>Founded in 1996 with a $2,000 investment </li></ul><ul><li>Pure online retailer focused on outdoor gear </li></ul><ul><li>In addition to Backcountry.com, company has niche sites that cater to distinct consumer segments: Tramdock.com, DogFunk.com, SteepandCheap.com and Explore64.com </li></ul><ul><li>Started out using click-to-chat but wanted to explore chat as a proactive tool </li></ul>
    13. 14. Maximize ROI in Three Ways <ul><li>Reach out to visitors demonstrating purchase intent </li></ul><ul><li>Match “gearhead” product expertise to corresponding consumer interests </li></ul><ul><li>Elevate skills of customer service representatives dedicated to the online channel </li></ul>
    14. 15. Engagement in Action
    15. 16. <ul><li>Exceeded revenue goal by 20% </li></ul><ul><li>10x conversion rate growth: chatters vs. self-service </li></ul><ul><li>54% increase in average order value </li></ul><ul><li>80% customer satisfaction rating </li></ul><ul><li>80% future purchase intent as a result of chat interactions </li></ul>Results
    16. 17. Customer Feedback <ul><li>“ We’re always pushing the envelope from vendors and partners to prove ROI. </li></ul><ul><li>LivePerson stepped up to the plate and earned a spot in our customer acquisition and satisfaction strategy.” </li></ul><ul><li>Dustin Robertson, </li></ul><ul><li>Vice President of Marketing, </li></ul><ul><li>Backcountry </li></ul>
    17. 18. <ul><li>Any Company looking to… </li></ul><ul><li>… Increase online conversion rates </li></ul><ul><li>… Build better relationships with their customers </li></ul><ul><li>… Cross-sell and up-sell related products and services </li></ul><ul><li>… Reduce service related inquiries originating online </li></ul><ul><li>… Generate interest for offline purchases </li></ul>Who Should be Interested ?
    18. 19. <ul><li>To learn more about our solutions: </li></ul><ul><li>Visit us at our Booth (#52) or online at: solutions.liveperson.com </li></ul><ul><li>Presented by David Leigh on behalf of Philippe Lang, VP, LivePerson Inc. </li></ul><ul><li>[email_address] +917 477 0520 </li></ul>Visit LivePerson

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