measure what matters - outcomes
DESCRIPTION
Presentation from CIMCIG Digital Marketing Workshop in March 2011. This presentation focuses on measuring what matters for your website.....outcomes or leads and understanding conversion rates.TRANSCRIPT
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Measuring what mattersBy @priteshpatel9
Blog: http://blog.pauleycreative.co.uk
Twitter: @PauleyCreative
Facebook: www.facebook.com/PauleyCreative
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Measurement Tools
Problems or issues with measurement:
Reporting ‘nice to knows’ rather than ‘must know’
Overwhelming amount of data
Interpretation of data
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This is nice to know…
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And this….
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And this….
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Stop focusing on ‘nice to knows’ and start
measuring the ‘must knows’
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Outcomes
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What are outcomes?
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The Conversion Funnel
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How do I measure outcomes?
Measure outcomes by creating ‘thank you’ pages after an action
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The ‘Thank You’ Page
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Tracking the ‘Goal’ page
Set up Google Analytics to track ‘thank you’ pages as Goals
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Measure what matters
Now you can view all the outcomes/goals which happen on
your website over a period of time.
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Important K.P.I’s
Conversion Rate – how many outcomes have been generated?
But what are the other 76% doing?
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Important K.P.I’s
Visitor Loyalty – how often do people keep coming back?
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Setting Objectives & Outcomes
Objective: Get visitors to complete more online product
specifications
KPI: Online specification sign up conversion rate
KPI: Online specification completion rate
KPI: Visitor Loyalty
Example of setting objectives and outcomes for a website which
has an online calculation/specification tool to generate leads
Focus your measurement on what matters, your objective!
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Bounce Rate
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The Bounce Rate
The ‘sexiest’ metric of them all
Measures visits with only one page view
High bounce rates (60%+) requires investigation:
Poor content or design
Landing page has no relevancy
Poor quality traffic being sent by source
Poor performance Good performance
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The Bounce Rate
View the bounce rate for all key pages on your site
Above data shows 2 key pages performing poorly. Must fix these
pages in order to keep people on my website
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The Bounce Rate
View the bounce rate for keywords used to get to your site
Above data shows 4 keywords attracting poor traffic. Is it
because the search query doesn’t match my content?
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The Bounce Rate
View the bounce rate for each source
Above data shows 1 source sending unqualified traffic. Either
improve the messaging or eliminate from spending anymore
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Measure sources of traffic
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Tracking Sources
Tracking & reporting outcomes by source is important
This is where you are spending valuable budget on driving traffic
to your website. You need to know if it’s well spent.
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Tracking Sources
Campaign set up is a pretty complex procedure
Involves tagging links and creating unique identifiers for all links
Tagging requires consistency across campaigns and channels
Read our guide to Tagging: http://bit.ly/guidetotagging
http://www.manufacturer.co.uk/?utm_source=building_apr&utm_medi
um=bannerad&utm_campaign=ProductAlaunch
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Measuring Print
Use unique URL’s or microsites (e.g www.mycampaign.co.uk)
Use shortened URL’s where possible (tinyurl, bit.ly)
Unique phone numbers (0845 445 445 and 0845 445 446)
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Conversions by Source
Make better decisions as to where more resources are to be
placed and which sources are to be eliminated.
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Calculating Cost Per Lead
Specification tool email campaign
Cost = £500 to design and broadcast email to database
556 visits to the landing page from the email campaign
153 signed up for the Specification tool
27.5% conversion rate
£3.26 per lead
Work out the cost per lead for all your activities. Which
campaigns have cost the most to generate leads? Was it worth it?
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Source Cost Visits Conversions Conversion Rate CPL
Print Ad 1 £5,000.00 89 75 84.27% £66.67
Print Ad 2 £2,500.00 83 34 40.96% £73.53
Print Ad 3 £8,000.00 145 21 14.48% £380.95
Email 1 £550.00 550 146 26.55% £3.77
Email 2 £550.00 700 153 21.86% £3.59
Newsletter 1 £300.00 23 2 8.70% £150.00
Newsletter 2 £300.00 20 2 10.00% £150.00
Banner Ad 1 £2,500.00 87 3 3.45% £833.33
Banner Ad 2 £1,500.00 100 14 14.00% £107.14
Banner Ad 3 £3,000.00 7 0
Directory Link 1 £250.00 5 0
Directory Link 2 £100.00 8 2 25.00% £50.00
Cost Per Lead Comparison
View conversions and cost per lead for every campaign and
source of traffic. Don’t make decisions based on number of visits
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If you have an e-commerce site
Identify which sources are generating you good revenue for little
cost. Where do you put most of your efforts? Twitter? Blog?
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Part of an Ongoing Process
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Summary
Overwhelming amount of data – measure what matters
Important to set objectives for your website
Ensure you identify what the goals are on your website
Create Thank You pages or Confirmation pages for every goal
Create Goals in Analytics
Ensure you report Conversion Rates and Cost Per Lead
Keep testing and refining your campaign to increase conversion
rate or reduce cost per lead
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Construction Marketing Blog: http://blog.pauleycreative.co.uk
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