7 Secrets to Automate Analytics for Growth

7 Secrets to Automate Analytics for Growth Edited by Akin Arikan
Is your data gathering dust - or see the potential within your efforts. Calculate ROI for incre-generating dollars? mental improvements:Collecting detailed data from your website's interactions is . Gather baseline numbers for your website's traffic, con-easy. But too often, the information ends up gathering dust version rates and transaction values.instead of driving revenue. With next generation web analytics you can cross the action chasm and turn your data into . Create "Sliders" or other adjustable means for manipu-meaningful marketing activity that moves the needle and lating the baselines by degrees. What would improve-improves the bottom line. Here are seven secrets to automate ments of 10%, 20%, 30%, etc. mean to your business?analytics, gathered from industry experts and Unica customers . Crunch some hard numbers that demonstrate the impact who participated in our 2009 Web Analytics webcast series. of improving your baselines.- Use the online tool @ http://www.stratigent.com/ 1. Take the 5-step path to growing resources/download-form/ to calculate your business business value impact.Transforming your web analytics practices takes time. Follow a logical pathway that allows you to learn, act, collect 3. Concentrate testing on issues that matterfeedback and act again. These 5 steps demonstrate fiscal Like "analysis paralysis," a testing regime that's too compli-accountability and support defined goals: cated throws sand on the tracks toward progress. Instead of 1. Site Analysis: Gather data on basic web performance "slice and dice" testing that analyzes every possible per-towards your key indicators, e.g. for reaching, acquiring mutation of your site and its performance, concentrate your and converting visitors. testing on simple things that make a big difference.2. Site and Ad Optimization: Target underperforming What really matters? And where can you find the biggest pages and advertising spends to improve structure, bang for the smallest buck? In most cases, it's at the "intui-content, conversion rate and, ultimately, profits. tive" level - the ability of your website to make visitors feel 3. Segment Targeting: Deliver relevant content - including that their needs are being met and that they can have con-precisely targeted promotional offers - to the most fidence in your ability to fulfill your promises. Example: one promising visitor segments on your site. enterprise experimented with the location and messaging of the point-of-action section of their pages. By simply manipu-4. Interactive Marketing (Online): Move beyond seg- lating this one variable, they were able to increase sales by mentation to maximize the value of each visitor through a whopping 114%. But even a 1% improvement from a test personalized content, email, messages and more based would mean a million dollars of value for a site that is driving on individual behaviors and tastes. $100 million in sales per year.5. Interactive Marketing (Online + Offline): Coordinate a complete, cross-channel marketing dialogue that inte- 4. Focus your promotional dollars on the grates personalized online and offline communications right visitorsfor optimal communications and results. All customers are not equal. Therefore, your marketing efforts should not be equivalent across your customer base. Take 2. Build your best business case to a look at your recency curve, for example. Chances are, you get resources get your greatest revenue returns from those segments that Executives act on what they can see. And they like to see most recently engaged your brand or site, within the last their opportunities quantified in hard numbers. To build your one or two months. As the months stretch on, the return per best business case (and your best chance of obtaining the customer drops precipitously.resources you need), do the math and help your colleagues Now suppose you offer a flat discount to 7. Improve marketing at the everyone. The most likely responders will aggregate and individual levels be those who acted most recently; in effect, simultaneouslyyou've created a negative return from good Web analytics offer insights on both the aggre-customers who would have purchased anyway. gate and individual levels. Too many companies The alternative? Apply your discounts and leave money on the table, however, by not special promotions to the middle of the re... [download for more]