IntroductionWelcome| 00:00 |
(music playing)
| | 00:04 |
Hi, I'm Matt Bailey, author, speaker, and
president of Site Logic, an online
| | 00:09 |
marketing agency.
Very early in my online marketing career
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I discovered information that saved me
hundreds of thousands of dollars in adspend.
| | 00:20 |
I found that a source of visitors was not
only my least amount of cost but also my
| | 00:24 |
greatest amount of business.
Information like that can radically
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change a business as you find out which
actions lead directly to revenue and
| | 00:33 |
profits rather than muddling through and
guessing which direction to take.
| | 00:39 |
Analytics is misunderstood to many as a
boring, tedious job of combing through
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numbers and reporting information.
In this course, I'm going to teach you
| | 00:49 |
how to transform your thinking and your
approach to what analytics is, what it
| | 00:52 |
can do, and how it will change your
online business.
| | 00:57 |
I've consulted with some of the biggest
brands in the world.
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Teaching them how to implement a common
sense analytics plan.
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And now I have the opportunity to share
this knowledge directly with you.
| | 01:09 |
You'll learn what the terminology
actually means and how current analytics
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is remarkably insufficient.
Starting with your business goals, you'll
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learn how to apply value measurements to
your website, and learn which pages push
| | 01:21 |
people away, and which pages push people
to become customers.
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You'll also learn how to integrate and
measure your search engine optimization
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and social media campaigns, so that you
can measure the full benefit of each.
| | 01:37 |
Finally it all comes down to
understanding human behavior.
| | 01:41 |
When seeing some of these reports and
what is possible, you'll find that you
| | 01:45 |
are only limited by the questions you
ask.
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The answers are always in the data.
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1. Intro: The Fear of AnalyticsThe fear of analytics| 00:01 |
As an introduction, the first thing we're
going to cover is the fear of analytics.
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I believe a lot of people, when they
approach analytics, just aren't really
| | 00:10 |
sure what they're getting into.
And because of that, it causes fear.
| | 00:14 |
Fear of the unknown, fear of uncertainty.
Really fear of not knowing what to look for.
| | 00:20 |
Usually when I talk to people about
analytics, I find that all of them have
| | 00:24 |
the same thing in common.
They open up their analytics program.
| | 00:29 |
They expect that the first thing they see
usually has the most important information.
| | 00:35 |
And because of that, people see the
charts the graphs, they see what looks
| | 00:39 |
like important information.
Visitors, visits per day, pages viewed,
| | 00:44 |
those types of things which look
important, but unfortunately can be
| | 00:49 |
distracting from what really is going on.
You see there's no formal education when
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it comes to analytics we're really left
to our own devices to find out how to do
| | 00:59 |
this effectively, and in order to do it
effectively we have to learn to ignore
| | 01:03 |
this interface.
You see analytics is a one size fits all package.
| | 01:10 |
Regardless of whether you do ecommerce,
lead generation, or if you're a publisher
| | 01:15 |
or any other type of site, analytics is
built to satisfy each one of those
| | 01:19 |
business types.
The only way that you're going to get
| | 01:25 |
information that is specific to your
business and your website, is through a
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high level of customization.
And so what we're going to accomplish in
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this lesson is to figure out how we can
better make analytics work for us, and
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how we can customize it to be specific to
our business.
| | 01:46 |
There's a word that has fallen out of use
in the English language.
| | 01:50 |
It's called velleity.
What velleity means is the intent to
| | 01:54 |
change, but not enough intent to actually
take any action.
| | 01:59 |
Unfortunately this describes many
business and their approach to analytics.
| | 02:04 |
Many businesses want to be a datacentric
organization.
| | 02:09 |
They want to use analytics to grow,
improve, and optimize their business.
| | 02:14 |
Unfortunately, no one has enough intent
or desire to do even the first steps to
| | 02:19 |
get towards implementing a full analytics
program in their business.
| | 02:26 |
So really it comes down to two options:
are you doing analytics?
| | 02:31 |
Or are you reporting information?
You see, if you are an analytics centered
| | 02:36 |
in business, if analytics is part of your
culture, then what you have when you log
| | 02:41 |
in to your analytics program and start
evaluating what's happening, is you have
| | 02:45 |
insights into the business.
Insights as to what you can do to improve
| | 02:51 |
your website, to improve the calls to
action that you're asking users to take.
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Insights lead to action, things that you
know you can improve right away because
| | 03:01 |
the data backs up the assumption.
You can make comparisons.
| | 03:06 |
Comparisons among different segments of
people, comparisons between two pages.
| | 03:11 |
Comparisons between two offers.
And you can ultimately make judgments on
| | 03:15 |
those comparisons.
Because analytics is all about finding value.
| | 03:20 |
How valuable is this call to action
compared to others?
| | 03:25 |
What is the bottom line value?
Can you put a dollar value on all of the
| | 03:29 |
calls to action, on all of the conversion
points, on the marketing that you are
| | 03:33 |
doing for your website, because when you
can do all that, then you have a
| | 03:37 |
direction as to how you can accomplish
your goals.
| | 03:43 |
You see, if you're not focusing on
analytics, and you're not building a
| | 03:47 |
culture of analytics.
Then what you're doing is focusing on reporting.
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Reporting leads to what I call
cut-n-paste reports where we pull open
| | 03:56 |
our analytics program and we cut or copy
the numbers out of there and we paste it
| | 04:00 |
into our report.
And it's all focused on those numbers
| | 04:04 |
that are in the initial report, page
views, time on site, visitors.
| | 04:11 |
That's really all we're looking at.
And as a result, it gets repetitive and
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there's no clear action.
There's no clear purpose to what you're
| | 04:21 |
trying accomplish.
So what we are going to be covering is
| | 04:24 |
what analytics can do.
I believe a lot of people have a fear of
| | 04:28 |
analytics because their not sure what the
potential is.
| | 04:32 |
They know what it might look like but
they're not sure how to get there.
| | 04:35 |
So we're going to look at what analytics
can do for your business.
| | 04:39 |
We're going to look at how data is
created, and how you can build customer
| | 04:42 |
segments, and understand how to better
market to people, and how to better spend
| | 04:46 |
your marketing dollar to reach the right
people at the right time with the right information.
| | 04:54 |
And really, it's all focused around
value.
| | 04:57 |
How do you know if your marketing is
making a result?
| | 05:01 |
How do you know if your search engine
optimization program is profitable?
| | 05:06 |
Value answers the big questions.
Because value helps you understand how
| | 05:10 |
you can make your search engine
optimization your social media, your pay
| | 05:14 |
per click, your email, or your display
campaigns profitable, and also it will
| | 05:18 |
tell you what it is working and why.
It's all about action.
| | 05:25 |
That's what we're going to cover in this
course.
| | 05:27 |
I look forward to going through it with
you and it's going to be a lot of fun to
| | 05:31 |
learn how you can use analytics to grow
your business.
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| Why is analytics so difficult?| 00:02 |
So why is analytics so difficult?
Why do so many people seem to struggle
| | 00:07 |
with understanding even the basics of
analytics, or even understanding the
| | 00:11 |
potential of what analytics can deliver
to your business?
| | 00:17 |
I believe it starts in a number of
different ways, but really what we have
| | 00:20 |
to do is look at analytics with the right
understanding of the potential what it
| | 00:24 |
can do.
Analytics are essential to your Online
| | 00:28 |
Marketing campaigns.
Anything you do online can be tracked,
| | 00:33 |
tested, and optimized.
If you're not using Analytics properly,
| | 00:38 |
then you don't know what do do to improve
your marketing.
| | 00:42 |
If you have a website, and you're using
your website for sales, for leads, for
| | 00:47 |
development of any type for your
business, then analytics are your primary
| | 00:51 |
means of measurement.
It's the only way to know if you are
| | 00:56 |
really making money with your website.
Or, as some business owners have asked
| | 01:01 |
me, should I even have a website, because
I don't know what it does.
| | 01:06 |
Analytics is the only way to know what it
does.
| | 01:10 |
If you are doing any search engine
optimization, or paper click, email
| | 01:14 |
campaigns, online display, or any type of
conversion testing, that is, making your
| | 01:19 |
website better.
If you're doing any of those things, the
| | 01:24 |
only way you're going to know if they're
truly working is analytics.
| | 01:29 |
And analytics will provide a specific
return on investment measurement for all
| | 01:34 |
of your marketing activities.
It's a requirement for anyone who's doing
| | 01:40 |
online marketing to know if anything
they're doing, works.
| | 01:45 |
However, there's a problem.
And this is the obstacle that most people face.
| | 01:52 |
You see the problem with analytics, is
that there is no formal schooling.
| | 01:58 |
There's no university or college course
which will allow you to major in website analytics.
| | 02:05 |
There's some online courses that are now
offered, and some universities that are
| | 02:09 |
leaning towards website or online
marketing courses.
| | 02:14 |
But very few get into the specifics of
how analytics work.
| | 02:18 |
And what they provide.
And really anyone in this industry has
| | 02:22 |
less than 20 years of true experience in
eCommerce, paperclick marketing, search
| | 02:26 |
engine optimization.
And so we're still a very young, very
| | 02:31 |
immature industry.
And that has resulted in people having to
| | 02:35 |
take their own initiative to learn how to
do things better, whether through
| | 02:40 |
attending conferences, reading books, or
utilizing digital training courses like this.
| | 02:48 |
Another question has been, is this a
marketing responsibility or an IT responsibility?
| | 02:54 |
Traditionally IT has been responsible for
analytics even though marketing needs it
| | 02:59 |
to better understand what's happening.
And that's created some problems in
| | 03:03 |
between those two departments
traditionally.
| | 03:07 |
The reason why you can't have just one
person in the marketing department or one
| | 03:11 |
person in the IT department or either of
those departments being solely
| | 03:14 |
responsible for analytics, is that it
involves multiple disciplines of
| | 03:17 |
understanding the technical side of
analytics as well as the marketing side,
| | 03:21 |
the implementation as well as the
interpretation.
| | 03:27 |
And so it requires both technical and
marketing savvy in order to truly
| | 03:32 |
implement and understand analytics.
So now, the problem with analytics is
| | 03:38 |
that because it's largely been an
individual effort, and there's no formal
| | 03:41 |
instructions as to how to do it, it's
been a battle between marketing or IT as
| | 03:45 |
to who is responsible.
Or, who has to implement it.
| | 03:52 |
You see, the IT department has
traditionally been the one in charge of
| | 03:55 |
analytics, because it requires a level of
skill in the implementation and programming.
| | 04:01 |
However, marketing needs access to
analytics.
| | 04:05 |
Because it requires a level of, well,
understanding what's happening.
| | 04:09 |
And interpreting the data from a
marketing standpoint.
| | 04:13 |
This has resulted in a clash between
these two departments.
| | 04:17 |
And no one person or one department
should be responsible for analytics.
| | 04:23 |
You see, analytics involves multiple
disciplines.
| | 04:26 |
It needs the technical side to know the
implementation.
| | 04:29 |
It needs the marketing side, to
understand the interpretation.
| | 04:33 |
It also needs a mix of sales, business
analysis, understanding, really, the most
| | 04:39 |
important part, is the business side.
How are we making money?
| | 04:46 |
How can we monetize better?
How can we develop the site into a better
| | 04:50 |
marketing vehicle?
And so it also involves some level of
| | 04:55 |
design work.
In changing, programming, testing
| | 04:59 |
different calls to action.
It requires both technical and marketing
| | 05:04 |
savvy in order to take the most advantage
of analytics.
| | 05:10 |
The results of analytics is you can have
an educated approach.
| | 05:15 |
To how you budget your online marketing.
You see when you have, results from your
| | 05:19 |
search engine optimization an pay per
click campaigns, you'll better know where
| | 05:23 |
you can spend the money for the most
effective return.
| | 05:28 |
An then also, you can set specific
targets of where you want to be, because
| | 05:32 |
now you know where you are.
Without analytics, without understanding
| | 05:37 |
all of these things, you can't have clear
goals, clear budgets, clear expectations
| | 05:41 |
for how each of your campaigns are
going to run.
| | 05:45 |
And analytics, and what I think is the
most exciting thing is, you can have an
| | 05:49 |
environment of testing and improvement.
You see, whenever anyone says I think or
| | 05:55 |
I assume or I suppose this works.
That tells me you're not running in an
| | 06:00 |
analytics based office environment.
An analytics based business focuses on
| | 06:07 |
testing in order to try those
assumptions, come to a conclusion, and
| | 06:13 |
improve the site based on the findings.
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2. Defining Analytics TerminologyTerminology: Visitor and visitor sessions| 00:02 |
Now let's continue our look at the
terminology of analytics.
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In this module we're going to cover
visitors and visitor sessions.
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The first question is to understand what
a visitor truly is.
| | 00:16 |
A visitor is not just a human.
You see we're tracking the interaction of
| | 00:21 |
computer devices and how they interact
with one another.
| | 00:27 |
While you are looking at a web site, it
is through the device that you are using
| | 00:31 |
that communicates directly with the
server that delivers the webpage.
| | 00:36 |
And so when we talk about visitors, we're
not actually talking about humans.
| | 00:41 |
We're talking about devices.
And really the way you use the Internet,
| | 00:46 |
could largely impact the number of
visitors on a website.
| | 00:51 |
Many people have more than just one
device that they use to access the Internet.
| | 00:56 |
If you've got a smart phone, a laptop, a
desktop, an iPad, or any other type of
| | 01:02 |
device that can access the Internet, that
can be one visitor.
| | 01:09 |
If you use your work computer to browse a
website, then go home and use your iPad,
| | 01:14 |
or a mobile device, you've now visited
the website three times.
| | 01:20 |
It depends on how many devices have
visited the website.
| | 01:25 |
That's how many visitors there are.
So even though you can be one individual
| | 01:30 |
person, you can create three different
visitors to the website.
| | 01:35 |
So, right away we realize that simply
tracking visitors can be a completely
| | 01:40 |
inaccurate way to look at how your
website is being used.
| | 01:46 |
Now, visitor session is how long someone
was on the website and what pages they
| | 01:52 |
looked at.
Different software interprets the session
| | 01:57 |
in a different way.
Sometimes they timeout after, pages have
| | 02:02 |
not been requested after about 30
minutes.
| | 02:06 |
That means that someone can still have
the website up on their computer, but if
| | 02:10 |
they walk away to go to lunch, or go to a
meeting or something like that, and the
| | 02:13 |
web page still is on their screen, and
they do not go to a new page, download a
| | 02:17 |
file, or interact with the website at
all, then the session will end.
| | 02:24 |
Now if that person comes back to their
computer and they go back to the homepage
| | 02:28 |
where they continue in their session, now
this is considered to be a second session.
| | 02:35 |
So even though, in your mind, you have
been on the website for an hour or two,
| | 02:40 |
or maybe even longer than that.
The 30 minute cutoff between sessions
| | 02:47 |
makes it two different user sessions.
So a visitor session is the sum total of
| | 02:53 |
your activity for one user at a specific
point in time.
| | 02:58 |
There may be a break in the session.
You can bookmark the website and then
| | 03:03 |
come back to it ten minutes later, and
you may still be in the same session.
| | 03:08 |
So there are sessions according to the
analytic software, and then there's the
| | 03:13 |
general word, the visitor's session,
which entails their interaction with the
| | 03:17 |
website over a certain period of time.
Unique visitors are measured differently.
| | 03:24 |
However, because of the device, this is
still the next level of user verification.
| | 03:30 |
The device you use still can be counted
as a visitor.
| | 03:34 |
And what is critical about this is what's
called a cookie.
| | 03:39 |
A cookie is a small text file that is
downloaded by your browser onto your device.
| | 03:47 |
If your device accepts that cookie, that
then shows the server that this is a
| | 03:52 |
unique device that has accessed the
website.
| | 03:57 |
So even though your laptop which will
accept cookies and your smart phone which
| | 04:01 |
can accept cookies and your desktop which
accepts cookies.
| | 04:07 |
While they are still unique devices, they
are still going to be considered three
| | 04:11 |
unique visitors because they each accept
cookies.
| | 04:15 |
Because the device can accept cookies and
because now the next time you go back to
| | 04:19 |
the website with that device, the server
knows that you've been there before.
| | 04:26 |
And that's how you are able to count
returning visitors or existing visitors
| | 04:30 |
to a website is because that cookie is on
your browser, and the server can now
| | 04:34 |
verify that this device has been to this
website before.
| | 04:40 |
So the number of identified visitors, or
devices, to a website over a specific
| | 04:45 |
time period is what makes someone or
something a unique visitor.
| | 04:52 |
So the basics of analytics, every
analytics program is going to provide
| | 04:57 |
visitors, and visitor sessions.
If your analytics program relies on
| | 05:03 |
cookies to bring in data, then you will
see unique visitors as part of the
| | 05:08 |
visitor numbers.
But really, what we've got to look at,
| | 05:13 |
are these numbers even important?
Because we're measuring devices and not people.
| | 05:17 |
And it's entirely possible that every
person could have multiple devices.
| | 05:22 |
And so, the concept of accuracy, when we
report visitors, is going to be very
| | 05:26 |
difficult to wrap your mind around.
And the problem is many people use the
| | 05:32 |
number of visitors as the cornerstone of
their reporting, within their business.
| | 05:37 |
So first, a clear understanding of what a
visitor is will enable you to clarify
| | 05:44 |
much more as we go on through this
course, understanding how to accurately
| | 05:50 |
report success.
| | 05:54 |
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| Terminology: Referrals| 00:02 |
In our continuing look at analytics
terminology, a word that describes really
| | 00:06 |
an action is referrals.
Referrals are simply, where do people
| | 00:12 |
come from?
So when we talk about a referral, what we
| | 00:16 |
are doing is making the equivalent of an
offline action and interpreting it online.
| | 00:22 |
You see, offline we ask for referrals
when we look for directions, when we ask
| | 00:26 |
other people for their recommendations.
And also when we look for testimonials to
| | 00:33 |
find what does someone think about a
certain product, a service, or a doctor.
| | 00:40 |
We're always asking for referrals because
we trust that third party opinion.
| | 00:44 |
Well the same thing happens online.
So when we look for referrals online,
| | 00:50 |
what we are looking for is how someone
found our website.
| | 00:55 |
Did they find it through a search engine?
Did they find it from another website,
| | 01:00 |
such as a forum?
A social media website, like Facebook or
| | 01:04 |
Pinterest or Twitter.
Or did they find it on a news website?
| | 01:10 |
And the way they would have found it on a
website is through a link on any one of
| | 01:14 |
those types of sites.
And so we say that is a referral from
| | 01:18 |
that website, or a referral from the
search engine.
| | 01:23 |
And also, we can consider email as a
referral source.
| | 01:27 |
Even though that visitor was already a
lead, or a contact for our website.
| | 01:34 |
If that's the way that someone came back
to the website, and initiated a new
| | 01:38 |
session, then we would consider that an
email referral.
| | 01:44 |
We can also look at specific campaigns,
such as ad campaigns, or display ads
| | 01:48 |
online, and know that that generated a
visitor.
| | 01:54 |
The referral is ultimately assigning a
value based on where that person came from.
| | 02:00 |
Now sometimes in our analytics, we'll see
something that says no referrer.
| | 02:05 |
And what that means is either it was not
reported by the website that sent the visitor.
| | 02:12 |
Sometimes, technically, they can hide
that information or simply it doesn't get
| | 02:17 |
passed along, and so it doesn't show up
in the analytics.
| | 02:21 |
Also, analytics programs are currently
not providing all of the information of
| | 02:27 |
referrers because Google is not passing
that information to analytics.
| | 02:34 |
And so as a result, a certain percentage
of your traffic will show up as No
| | 02:38 |
Referrer, or Not Reported, even though
those visitors still used Google and used
| | 02:44 |
keywords, that keyword data is not being
shown in your analytics, and so, it will
| | 02:49 |
show up as not reported.
Now another way that we don't see the
| | 02:57 |
referring information, is if someone
directly navigates to your website.
| | 03:03 |
By that, we mean if they click on a
bookmark, or they have their own portal
| | 03:07 |
page that has links to the sites that
they always go to.
| | 03:12 |
Or if they type it in directly, into the
URL bar, those people show up as direct
| | 03:17 |
navigation visitors, meaning, there is no
referrer.
| | 03:22 |
They simply entered your site through a
click, or by typing in the domain,
| | 03:25 |
because they already knew about it.
So in short, referrals are simply where
| | 03:30 |
visitors came from.
It's important to know because that helps
| | 03:35 |
us understand which of our campaigns or
which of our marketing is working to get
| | 03:40 |
new visitors as well as to get returning
visitors back to the site.
| | 03:46 |
But really understanding where visitors
come from, impacts the visit.
| | 03:51 |
It helps us understand much more.
What they wanted to see, which means we
| | 03:56 |
can measure that.
And then we can optimize the site, based
| | 04:00 |
on understanding, what people wanted,
because of where they came from.
| | 04:05 |
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| Terminology: Bounce and exit rates| 00:02 |
In our continuing look at the terminology
of analytics, two important pieces of
| | 00:06 |
information that will help you figure out
whether people enjoy your website or
| | 00:11 |
reject your website.
It's the bounce rate and the exit rate.
| | 00:16 |
The exit rate refers to those people who
have visited more than one page.
| | 00:24 |
They've been on the site, they've used
the site, but then this is the last page
| | 00:28 |
in their session.
Usually we see the home page as the exit
| | 00:32 |
rate, that someone completes the
information they were looking for and
| | 00:36 |
usually will go back to the home page as
a sense of closure and then leave the website.
| | 00:42 |
Other highly exited pages are pages that
are exited after a specific task has been
| | 00:48 |
completed such as registration, the lead
form, an e-commerce transaction.
| | 00:56 |
The thank you page is typically the exit
page, because there's been an exchange of
| | 01:00 |
information, and the process is complete.
The exit rate focuses on the activity of
| | 01:06 |
the person and then shows you the last
page they were on before they left the
| | 01:10 |
site and went to another website.
The bounce rate is the one, that shows
| | 01:18 |
what people think of your website in a
split second.
| | 01:22 |
You see the bounce rate is how many
people leave your site as soon as they
| | 01:27 |
get there.
This is the only page that they will see,
| | 01:31 |
and then they choose to leave.
This could be seconds, it could be
| | 01:35 |
minutes, of how long people stay on that
initial page.
| | 01:41 |
Primarily though, what we are measuring
is what are people doing, why did they
| | 01:45 |
get to that page, and why did they choose
to leave?
| | 01:49 |
So when we start agonizing about that
question, why, you've gotta look at the
| | 01:54 |
information that's necessary to figure
out what were people looking for.
| | 02:01 |
The first result that we can come up with
is that someone, even though seeing that
| | 02:05 |
single page, they got the information
that they were looking for.
| | 02:10 |
In one case we found out that many people
were going to the website in order to get
| | 02:14 |
the phone number of the company.
And so just by going to the homepage or
| | 02:20 |
just by going to the contact page that
was in their bookmarks, they got the
| | 02:23 |
contact information for the company and
left the website.
| | 02:28 |
They got the information that they were
looking for and left.
| | 02:33 |
It could also be that the name was the
same as another company that they were
| | 02:37 |
looking for.
In many cases, there are different kinds
| | 02:41 |
of businesses that use the same name, and
so people that do a search for a company,
| | 02:45 |
and then they simply click on the first
result, or one that looks right, and they
| | 02:49 |
realize that it's not the right company.
And so, they leave immediately.
| | 02:56 |
Or it could be a difference in product
terminology.
| | 03:00 |
Not just companies have the same name.
Many times, products have the same name,
| | 03:05 |
or are referred to with the same
vernacular.
| | 03:08 |
And so the terminology might correct, but
it means something completely different.
| | 03:14 |
Or it could just be that you have a bad
website.
| | 03:17 |
And in looking at the first page, from
the search results, or from a link, they
| | 03:22 |
realize that this website is not going to
help them, and they leave immediately.
| | 03:29 |
Now the assumptions a lot of people make
about bounce rate, is that if you have a
| | 03:33 |
high bounce rate, such as 60, 70, or 80%
of people that come to your website leave immediately.
| | 03:40 |
A lot of people assume that it's always
bad.
| | 03:43 |
Now there's always a reason as to why the
bounce rate is high.
| | 03:47 |
Now, it could be that some people have
the type of website where they publish
| | 03:51 |
closing market information.
And if people were only interested in
| | 03:55 |
getting those closing numbers, then
they're not going to spend a lot of time.
| | 04:00 |
They want that immediate information,
they got it, and they left.
| | 04:04 |
You see there's always a reason.
It can be a good reason, and that is that
| | 04:07 |
people are getting the information that
they need within seconds and then they're
| | 04:11 |
done with their session.
It's good to be curious about bounce
| | 04:16 |
rates and to try and troubleshoot it but
don't be obsessed.
| | 04:21 |
The trick is you need to look at the
details in order to understand why.
| | 04:26 |
You always measure both bounce rates and
exit rates in context.
| | 04:32 |
You can't look at them in an isolated
format and expect to learn anything.
| | 04:35 |
You have to evaluate by the page, and
then by the visit, and then finally the
| | 04:40 |
intent of the searcher or the user.
And that will give you a road map to
| | 04:46 |
understanding your bounce rate and your
exit rate in context.
| | 04:51 |
| | Collapse this transcript |
| Terminology: Conversion rate| 00:02 |
Now, the next term that we're going to
look at is going to be one of your most
| | 00:05 |
important terms and the most important
subject when it comes to analytics and
| | 00:09 |
that is your conversion rate.
Now the c, term conversion is used
| | 00:14 |
frequently in the realm of online
marketing because the conversion is
| | 00:19 |
ultimately what we need people to do in
order to make money.
| | 00:25 |
And so the question is, what makes you
money as a business?
| | 00:29 |
We need to measure the visitor actions
that are going to make us money.
| | 00:33 |
It could be very simple, it could be
E-commerce, it could be leads, it could
| | 00:37 |
be clicking on ads, it could be
subscribing.
| | 00:41 |
What are the things that make us money?
If it doesn't make us money directly,
| | 00:45 |
then indirectly, how will it make us
money?
| | 00:49 |
For example, a lead generation site, you
don't make money when someone fills out a
| | 00:53 |
lead form, but it's an action that will
lead to money.
| | 00:59 |
With some subscribes to your email it
doesn't mean that that's going to make
| | 01:03 |
you money right away, but that lead, that
email address, marketing now to that
| | 01:07 |
person who has given you their email
address, could lead to money.
| | 01:13 |
And then also, things that don't make
money, but they could eventually make you money.
| | 01:19 |
And this could be any type of an action,
such as people just coming to the site
| | 01:23 |
and looking for information, wanting more
information and they just don't convert,
| | 01:28 |
but they could.
So, those are the three primary goals
| | 01:33 |
that I look at when I'm looking at
conversion.
| | 01:36 |
What makes me money?
What will lead to me making money?
| | 01:39 |
And what could eventually make me money
with some marketing?
| | 01:44 |
So ultimately, the conversation rate is
your goal.
| | 01:47 |
What are the goals that you have for your
business and for your web site?
| | 01:51 |
A goal is sales, leads, getting contact
forms, maybe just having people comment
| | 01:57 |
on your blog, video views, page views,
dwell time.
| | 02:03 |
Now in page views I'm not just talking
about the amount of pages people look at,
| | 02:06 |
usually what I'm looking at is page views
within a specific section based on how
| | 02:10 |
people found the site and ultimately what
they did after viewing those pages.
| | 02:17 |
Dwell time could be, how long did they
look at specific content prior to doing
| | 02:22 |
something else?
And you can always combine these goals
| | 02:27 |
and make another conversion rate based on
how many people looked at so many pages
| | 02:31 |
prior to conversion.
So that can give you a sense of
| | 02:36 |
understanding people's behavior even
more.
| | 02:40 |
Of course, ad clicks, if ads make you
revenue, subscriptions to your content.
| | 02:46 |
The conversion rate is the granddaddy of
all measurements and it's most utilized
| | 02:52 |
when there is a monetary goal.
When you can have a specific monetary
| | 02:57 |
goal for each conversion, that will help
you assign value to the conversions that
| | 03:02 |
are worth more to your business than
others.
| | 03:06 |
There has to be an action goal.
What is it that people do that provide
| | 03:11 |
that value, such as viewing content?
Can you subscribe behavior of watching
| | 03:17 |
videos toward increased conversions?
In that case it's an action.
| | 03:23 |
And also engagement, the amount of pages
people look at prior to subscribing, how
| | 03:27 |
people find your site and how long they
stay.
| | 03:31 |
And so, there are different types of
conversions that you can create in your
| | 03:36 |
analytics that will show the value of
actions, actions that lead to the value
| | 03:40 |
and also how people are engaging on your
site.
| | 03:46 |
Ultimately, the conversion is, what do
you want people to do on your site and
| | 03:50 |
how do you measure successful visits?
| | 03:54 |
| | Collapse this transcript |
|
|
3. The Problem of NumbersCaveman analytics| 00:00 |
Now, in beginning to look at the
concepts, that a company analytics.
| | 00:06 |
One of the important concepts, to look
at, is what I like to call Caveman Analytics.
| | 00:12 |
You see we covered this earlier, but I
want to delve much more into it.
| | 00:16 |
Because so many organizations are
trapped, in what I call Caveman Analytics.
| | 00:21 |
And that is they generate these reports
that talk about page views, Hits, top
| | 00:26 |
pages, monthly visitors, and time on
site.
| | 00:30 |
In every month, it's the same exact
report.
| | 00:34 |
You see the problem is, these reports
have been around as long as online
| | 00:37 |
marketing, as long as web sites.
You see, these were the earliest numbers
| | 00:43 |
that we could generate from websites, and
as a result, things have barely changed
| | 00:48 |
at all.
We haven't evolved.
| | 00:52 |
So many companies are still wrapped up in
these numbers, without realizing the
| | 00:57 |
inaccuracy of the numbers such as visits,
and how many visitors.
| | 01:04 |
You see, when you rely on this type of
reporting as an indicator of success, the
| | 01:08 |
number of visitors, and their time on
site, you're looking at very, very
| | 01:12 |
general information that doesn't
specifically point to why, and that's
| | 01:16 |
what we want to know, is why.
And when you look at just a typical
| | 01:23 |
dashboard, with no customization, no
goals and no conversion rates.
| | 01:29 |
This is all you're going to receive.
So as a result of that is a self
| | 01:33 |
fulfilling prophecy.
You want to get better numbers but
| | 01:36 |
without changing anything you'll never
get those better numbers.
| | 01:41 |
And so you're locked to that cave men
analytics way of thinking.
| | 01:45 |
You see, analytics started out in the IT
department.
| | 01:49 |
In the early days, analytics were a way
of measuring the amount of bandwidth that
| | 01:55 |
a website used.
It was important to know that, because
| | 01:59 |
that's how companies were being billed
for their Internet usage, was based on
| | 02:03 |
the amount of bandwidth of people using
the website.
| | 02:07 |
So, the IT department needed to know how
much bandwidth was being used by their
| | 02:12 |
website in order to develop a budget for
accounting.
| | 02:17 |
Now, some of these bid with measurement
programs would also provide visits, hits,
| | 02:22 |
time on sight, the most rudimentary
methods of measuring this data.
| | 02:29 |
Someone in the marketing department found
out that IT was able to produce a report
| | 02:34 |
on how many people visited the website.
So all of the sudden, it started to
| | 02:40 |
become a regular reporting device, and
then has developed into our current,
| | 02:44 |
online corporate culture.
How many visits did you get to the website?
| | 02:50 |
How long did people stay?
How many pages did people view?
| | 02:54 |
But unfortunately, those numbers are so
inaccurate, and people don't realize that
| | 02:59 |
they're not actually measuring anything
that shows success.
| | 03:05 |
So we need to evolve.
And how can we evolve?
| | 03:10 |
The first thing is to educate yourself,
and that's what you're doing with this
| | 03:12 |
course right now.
The second thing is not to be satisfied
| | 03:16 |
with general numbers that don't guide you
towards improvement.
| | 03:22 |
If all you're looking at is visitor
numbers, how do you know what to change
| | 03:26 |
on your website?
It doesn't lead you to a specific, clear
| | 03:32 |
goal or a specific clear plan of what you
need to change on your website and why.
| | 03:39 |
See you can't be satisfied with the
numbers.
| | 03:41 |
The goal is get to actionable information
so that you know what to change and why
| | 03:47 |
and what to expect as a result.
That's how you get beyond Caveman analytics.
| | 03:58 |
| | Collapse this transcript |
| Numbers without context| 00:02 |
One of the problems with analytics is the
use of numbers in reporting and as
| | 00:05 |
indicators of success, without knowledge
of the context that's necessary to give
| | 00:10 |
those numbers meaning.
For example, we'll see this in a report
| | 00:16 |
many times, where visitors equal 200,000.
I love to ask people well is 200,000, is
| | 00:23 |
that good, or is it bad?
For some people they initially say it's
| | 00:27 |
good or bad, depending upon what kind of
site you are.
| | 00:30 |
But eventually after thinking about it
for a few seconds, people come to the
| | 00:34 |
realization that, well, that depends.
And that's the answer.
| | 00:39 |
You see, it depends.
On what?
| | 00:41 |
Visitors equaling 200,000, it's not good,
and it's not bad.
| | 00:47 |
What it is, is data.
It's a piece of data, and data is value neutral.
| | 00:53 |
There is no good or bad value to data.
And this is simply data.
| | 00:59 |
We don't know anything surrounding this.
We don't know the time frame.
| | 01:03 |
We don't know what page.
We don't know anything other than what we
| | 01:08 |
think it means.
The same thing when we start looking at
| | 01:11 |
additional numbers.
Page views equals 800,000.
| | 01:16 |
It's not good or bad.
It's a piece of data, because it doesn't
| | 01:19 |
tell us which page views.
What's the time frame?
| | 01:22 |
Is this a day, an hour, a week, or a
month?
| | 01:26 |
There's not enough data to ascribe value.
So even when we talk about something like
| | 01:32 |
average time on site.
What you're doing is taking thousands of
| | 01:36 |
visitors with thousands of different
reasons, and putting them together and
| | 01:40 |
saying well, their average time on site
was 6 minutes.
| | 01:45 |
This is value neutral.
It's neither good nor bad, it's just a
| | 01:49 |
number that doesn't explain anything.
And so, in order to move beyond our
| | 01:54 |
initial impression of what analytics are,
we need to realize that our first
| | 01:59 |
reaction to analytics, which is looking
at the numbers in the admin panel, and
| | 02:03 |
assuming that they mean something.
We need to understand what they actually mean.
| | 02:12 |
And that is, it's not good or bad, it's
just a piece of data that doesn't help
| | 02:16 |
you improve your website.
You see, we're talking about data, and
| | 02:23 |
data, it's not good or bad.
Data needs context in order to be understood.
| | 02:30 |
And so, in your reports, when your
reports are very simple, and contain not
| | 02:34 |
a lot of information, go back and look at
your reports and see how much of your
| | 02:38 |
report is built on pieces of data.
And because your report is built on data,
| | 02:45 |
a clear path of action is impossible,
because you're not looking at the context
| | 02:51 |
that surrounds the data.
And so in order to have a good analytics
| | 02:56 |
program, what you need to do is become
more complicated.
| | 03:01 |
And I'm sure that doesn't thrill you, but
if you want a plan to improve your
| | 03:05 |
website, and improve your business, your
data needs to be more complicated.
| | 03:10 |
So what do we need to do?
Number one, have clear goals.
| | 03:15 |
What is it that you want to accomplish?
And then those goals have to have context.
| | 03:21 |
If you know where you want to go, how are
you going to get there?
| | 03:24 |
What does success look like?
And then you need to build relationships.
| | 03:29 |
Beyond just the number of page views, or
the number of visitors, how did they get there?
| | 03:34 |
What did they do?
Build an understanding of what success
| | 03:38 |
will look like.
And make sure that in your future
| | 03:41 |
reporting, you report according to your
goals.
| | 03:45 |
How did you meet those goals, and how did
they enable the success of the business?
| | 03:50 |
| | Collapse this transcript |
| Goals| 00:02 |
In further looking at concepts that are
important to a broad understanding of
| | 00:06 |
analytics, it's important to know goals.
Goals are the centerpiece of analytics.
| | 00:14 |
Without goals, you have no direction.
You're only reporting numbers.
| | 00:17 |
And so in order to move beyond numbers,
and report success, you need to know what
| | 00:22 |
success is defined as.
Those are your goals.
| | 00:27 |
If you want to transform your analytics,
there are three primary questions that
| | 00:32 |
you need to ask.
Simply asking these three questions will
| | 00:37 |
completely change how you view analytics
or reporting for your organization.
| | 00:43 |
You see my number one question is where
did visitors come from?
| | 00:46 |
Just based on that question, you'll start
to understand that visitors behave
| | 00:50 |
differently based on where they come
from.
| | 00:54 |
Your search visitors behave much
differently, than visitors who click on a
| | 00:58 |
link from another website.
And they react and behave much
| | 01:02 |
differently from people who have a
bookmark or type in your domain directly.
| | 01:08 |
Knowing where visitors come from, will in
large part enable you to understand them
| | 01:13 |
much better.
The second question is understanding what
| | 01:17 |
did they do?
This is where your goal comes in.
| | 01:21 |
What did visitors do on your site?
Did they meet a goal?
| | 01:25 |
Did they convert?
Did they do something of value?
| | 01:29 |
Something that you can measure,
understand, and apply in your marketing plan?
| | 01:36 |
And the third question is, what is your
marketing plan?
| | 01:39 |
How do you respond to the information
that you've just learned.
| | 01:43 |
Just by asking these three primary
questions, it will push you to move
| | 01:47 |
beyond just reporting numbers.
Because without these three questions,
| | 01:53 |
you'll never know if your website is
successful in making your business money.
| | 01:58 |
You see, it's all about understanding the
goal.
| | 02:02 |
The primary goal is what helps us know if
we're making progress.
| | 02:08 |
Unfortunately, people rarely do one
action on the website that just promotes
| | 02:13 |
the goal.
Instead, what people do on the website,
| | 02:17 |
is they move from one page to the next.
Sometimes they go backwards.
| | 02:21 |
Sometimes they go sideways.
Sometimes they hit their back button.
| | 02:25 |
Other times they use your navigation.
And so, when we try to look at a session
| | 02:30 |
it's a jumble of information.
The goal helps us understand the overall
| | 02:35 |
purpose of what we want them to do.
But analytics, in breaking things down to
| | 02:40 |
their elements such as: what did they do
and what should we do, will help us
| | 02:44 |
understand all the jumble of information,
and the behavior that visitors show.
| | 02:51 |
Understanding that people on websites
don't do linear objectives, meaning they
| | 02:57 |
don't move from point a to point z in a
linear fashion.
| | 03:02 |
They do weird things like going
backwards, going sideways, hitting
| | 03:06 |
buttons that seemingly look important,
but might not be.
| | 03:11 |
In usability, we call this behavior pogo
sticking, foraging, and berry picking.
| | 03:17 |
Hardly terms that sound like an organized
and thoughtful approach to browsing a website.
| | 03:24 |
In other words, we need to understand
that people come to our website with
| | 03:27 |
vastly different motivations.
You see, on a financial website, there
| | 03:32 |
are some people that come to the website
looking for news, immediate news.
| | 03:38 |
Where did the markets close?
What are the closing numbers?
| | 03:42 |
What are the ticker information?
What is this company's call sign?
| | 03:47 |
You see their looking for immediate
information and so as a result their
| | 03:51 |
visits are going to be shorter maybe one
page and it's going to have a high bounce rate.
| | 03:57 |
Maybe only one or two pages but they're
going to be very short visits in duration
| | 04:01 |
and their going to behave much
differently.
| | 04:05 |
Than another group of people that are
coming looking for long-term forecasts.
| | 04:09 |
Analysis articles.
Columns of authors that they enjoy reading.
| | 04:15 |
You see, these people are going to stay
on the site much longer.
| | 04:17 |
They may click through articles to see
additional articles or analysis.
| | 04:22 |
Because they're interested in something
completely different.
| | 04:27 |
And so the first lesson of goals is that
we have to realize that our visitors have
| | 04:32 |
vastly different goals in mind, and the
only way we're going to better understand
| | 04:37 |
that is if we measure our visitors
differently.
| | 04:42 |
So, in analyzing goals, we need to
understand what happened, why, and then
| | 04:48 |
deduct how we should react.
We need to understand what makes us
| | 04:54 |
money, and what do visitors do that will
enable us to make that money.
| | 05:00 |
What do we want the visitor to do?
That's the conversion point.
| | 05:04 |
That's our goal.
And then by analyzing, what provides
| | 05:08 |
revenue, will help clarify your marketing
plan.
| | 05:11 |
What can you do to take advantage of the
data you have uncovered, that will allow
| | 05:16 |
you to make your website marketing much
more effective for your business.
| | 05:23 |
| | Collapse this transcript |
| Context| 00:02 |
In this module we're going to cover what
I like to call the three Cs of analytics,
| | 00:06 |
context, contrast and comparison.
the moment you realize that your website
| | 00:13 |
visitors are made up of groups of people
that behave differently and have
| | 00:19 |
different motivations, you are on your
way to developing a clearer understanding
| | 00:25 |
of analytics and developing a more
comprehensive plan of attack.
| | 00:33 |
You see, when we analyze different groups
of visitors and how they react based on
| | 00:38 |
what content they were looking for, what
website they came from or any other type
| | 00:42 |
of action or behavior.
You see, we're ascribing a specific level
| | 00:49 |
of motivation as to what they want.
When we understand what people want, we
| | 00:54 |
can then measure and analyze them
separately from the overall group of
| | 00:59 |
visitors that come to the web site.
You see, when you look at the big
| | 01:06 |
numbers, what you're doing is looking at
the aggregate data and then when you try
| | 01:10 |
to deduce what's going on and how you can
improve your web site, you can't do it
| | 01:15 |
with the big numbers, the aggregate data.
You've got to break it down into small elements.
| | 01:24 |
And the best way to break it down to
small elements is by understanding the
| | 01:29 |
three Cs, context, contrast and
comparison.
| | 01:34 |
When we talk about context, what we are
doing is telling the story about a
| | 01:38 |
specific group of visitors.
You see, when you tell the story, the
| | 01:43 |
primary element in the story is the
motivation.
| | 01:47 |
Why did they come to the site?
What were they looking for?
| | 01:50 |
What information is important to them?
What was their purpose in visiting the site?
| | 01:57 |
What factors make up this group of
people?
| | 02:05 |
So in our financial website example,
people that came to the website looking
| | 02:09 |
for quick, market closing numbers, quick
news, that daily news.
| | 02:14 |
They were our group of people that come
frequently to the website, they have
| | 02:18 |
short visits, they're looking for
specific information.
| | 02:23 |
And so, that tells us the motivation, the
factors and the story about those groups
| | 02:27 |
of visitors, and we can start to build on
them, to understand the thinking for that
| | 02:31 |
group of people.
The quickest way to develop context is to
| | 02:36 |
simply ask the five most basic questions:
who were they, what did they want, why
| | 02:41 |
did they want it, when did they come and
how do they act when they come to the website?
| | 02:49 |
That's how you develop a clear context to
the groups of visitors to your website.
| | 02:57 |
The next thing is to draw comparisons.
Looking at the multiple groups of people
| | 03:02 |
that come to the website.
We start to ask what does this group have
| | 03:07 |
in common with other groups?
Are they similar search terms?
| | 03:11 |
Is it a source?
Maybe it's the source of where they come
| | 03:15 |
from that makes them behave a certain
way.
| | 03:18 |
Is it another website?
Is it another source?
| | 03:22 |
Is it direct navigation to your website?
What do they have in common with other groups?
| | 03:28 |
Are they taking actions that are common?
Do they have common results?
| | 03:32 |
What can you find common between
different groups of visitors?
| | 03:36 |
What are the traits of this group that
are similar to other groups?
| | 03:43 |
And so that moves us to contrast.
You see, comparison finds like factors.
| | 03:49 |
How are these groups alike?
Contrast focuses on what is unique to
| | 03:53 |
this group?
What distinguishes them from the other
| | 03:57 |
groups that are there?
You might find that it's the search term,
| | 04:01 |
it's the behavior they exhibit.
It's maybe actions that they have on the
| | 04:05 |
website or their objectives.
By looking to find the commonalities and
| | 04:10 |
the discrepancies among the groups of
people that come to your site, it will
| | 04:15 |
help you build context and better
understand those groups and what they are
| | 04:19 |
looking for and the behavior they exhibit
on your website.
| | 04:26 |
And so we've got to question the data.
One of my favorite quotes is from a
| | 04:30 |
sociologist, Neil Postman.
Question asking is the single greatest
| | 04:35 |
tool that humans have.
I find that the best analysts are the
| | 04:40 |
ones that have more questions.
They're always asking why.
| | 04:46 |
They don't just settle for knowing how
many visitors came to the website, they
| | 04:50 |
want to know why those visitors came to
the website.
| | 04:54 |
They don't just settle in knowing that a
certain group of visitors exhibited a
| | 04:58 |
certain group of behavior and it just
happened to be the most profitable group.
| | 05:04 |
They want to know why.
In order to be a great analyst and in
| | 05:07 |
order to make your analytics program
excel you've got to ask questions.
| | 05:15 |
No amount of software will give you the
answers you need by themselves.
| | 05:20 |
Every software program needs a human to
ask the questions first.
| | 05:25 |
| | Collapse this transcript |
| Segments| 00:02 |
To complete our lessons on analytics
concepts, the biggest one is the segment.
| | 00:07 |
The segment is what we've been talking
about in previous modules, but really the
| | 00:11 |
word segment shows us the different
groups of people that are coming.
| | 00:16 |
Our news segment are our identified
visitors that come frequently, with short
| | 00:21 |
visits, looking for a specific type of
information that is one segment.
| | 00:28 |
Then we have our analysis segment.
They're looking for long term analysis.
| | 00:33 |
They spend more time on the site.
They look at more pages, and so what we
| | 00:38 |
have done is segment out these groups.
We call them segments.
| | 00:43 |
Our analysis segment versus our news
segment.
| | 00:46 |
And so knowing that you can't treat
everyone the same way when they come to
| | 00:51 |
the website, we need to assign different
behaviors and different understandings to
| | 00:56 |
these groups.
We talked about contrast and comparison.
| | 01:02 |
You need to identify the groups with a
couple of different questions.
| | 01:06 |
The first is, what types of visitors do
you have?
| | 01:11 |
When you identify those types of
visitors, five types, the types are the segments.
| | 01:16 |
Are they news segments?
Are they analysis segments?
| | 01:20 |
Are they repeat visitor segments?
Are they repeat buyer segments?
| | 01:25 |
Identify the clear segments of visitors
and the types of visitors that are coming
| | 01:30 |
to your site.
Another type of segment that you can
| | 01:35 |
develop is the purpose.
Why do people come to your web site?
| | 01:39 |
You can develop segments based on the
goal or the purpose.
| | 01:44 |
So do this for your website.
Start to develop segments by identifying
| | 01:48 |
the types of visitors and the reasons
that people come.
| | 01:53 |
You now have ten distinct segments of
visitors that come to your website.
| | 01:59 |
Start listing the characteristics.
What do these people look for?
| | 02:03 |
What's important to them?
What are they trying to accomplish?
| | 02:07 |
And what can you predict knowing the
behavior based on the type of segment
| | 02:14 |
that it is?
You can segment by all kinds of information.
| | 02:19 |
You can segment by motivation.
I like using search terms here.
| | 02:21 |
Because search terms show motivation.
They're telling you what they want.
| | 02:26 |
Did they find it?
That's the action.
| | 02:29 |
You can segment by people that viewed
videos on your website.
| | 02:33 |
People that subscribe to your newsletter.
People that added a comment to your blog
| | 02:38 |
or to your article.
You can segment by action to find people
| | 02:42 |
that are more engaged than other people.
You an segment by result.
| | 02:48 |
Just look at the people that converted on
any one of your conversion points or all
| | 02:52 |
of them.
You can segment by result.
| | 02:56 |
You can segment by source.
Source, such as a specific search term.
| | 03:01 |
Source, such as a specific website, or,
people that typed in your domain directly.
| | 03:08 |
You can also segment by choices that
people make, such as, everyone who views
| | 03:12 |
the homepage and clicks a specific tab in
the navigation.
| | 03:17 |
You can then segment by that action, that
choice.
| | 03:22 |
And then evaluate the behavior of those
visitors.
| | 03:26 |
There are multiple ways to segment and
it's only limited by your imagination and
| | 03:30 |
how you view your website and the needs
that people have as they come.
| | 03:35 |
You can also segment by the amount of
time people spend on your website.
| | 03:41 |
And when you combine time with other
segmentation, it enables you to get a
| | 03:45 |
clearer understanding of who's coming to
your website and why.
| | 03:50 |
The power of segmentation.
It enables you to measure groups of
| | 03:56 |
similar visitors and get patterns as to
what is unique to them.
| | 04:01 |
Which allows you to have some insight as
to what might be working, or what may not
| | 04:06 |
be working for those groups.
You start to understand behavior analysis
| | 04:13 |
better, based on the motivations or the
actions that these groups exhibit.
| | 04:20 |
You can then develop specific actions to
improve these visitor sessions.
| | 04:27 |
Because now that you understand the
motivation, you see the pattern and you
| | 04:31 |
understand the group better, you can then
better analyze what you can do to improve
| | 04:36 |
your website.
Different sources of visitors will show
| | 04:41 |
differences in their behavior.
People will react differently based on
| | 04:46 |
where they come from.
And we're going to show how you can
| | 04:50 |
analyze that to make your website a much
more effective tool for marketing your business.
| | 04:57 |
| | Collapse this transcript |
|
|
4. Building Segments for ComparisonAcquisition segments| 00:02 |
Now when you start building an analytics
approach, what I specifically tell people
| | 00:07 |
to do is to build segments.
The first segment that I find is easiest
| | 00:12 |
to build and also provides the most
insight as to why people use your site,
| | 00:16 |
is to focus on the acquisition.
Why did they come to your site?
| | 00:22 |
What were they looking for?
This is very easy to identify looking at
| | 00:26 |
search terms.
And the first thing that I look to do, is
| | 00:30 |
build segments based on the key word.
Now, usually, we'll start with the
| | 00:36 |
primary general word.
I like to call that my big bucket
| | 00:40 |
segment, because those types of segments
are typically one word, very general.
| | 00:45 |
And then we just lump everyone who uses
that word into that bucket.
| | 00:51 |
Now, an example of this would be for CRM
software.
| | 00:55 |
That would be my big bucket word.
However, after we have lumped everyone
| | 01:00 |
who has used the term, CRM as their
search phrase, then we tear that apart.
| | 01:07 |
And we look for all the other words that
are used in addition to CRM.
| | 01:13 |
I call those my small bucket segments.
So, for example, I have CRM Software.
| | 01:19 |
You see what has happened here is we are
looking at the searchers that have
| | 01:24 |
expressed what it is they are looking
for, by adding an additional work.
| | 01:30 |
So, we have CRM software, CRM management,
and free CRM, and a few others.
| | 01:35 |
From more of an ecommerce standpoint, we
can look at this from the term watch.
| | 01:41 |
There are many different ways that people
search for watches.
| | 01:44 |
People are looking for different kinds.
They're also looking for different functions.
| | 01:49 |
Like repair, or batteries.
You see, even though you want to rank for
| | 01:54 |
a specific term, what we need to realize,
is that there are many different ways
| | 01:58 |
that term is used and searched on.
And that will help us better understand
| | 02:04 |
how well we are doing at targeting
specific searchers.
| | 02:09 |
Now to build these types of big bucket
and small bucket segments, I'm going to
| | 02:13 |
show how to do this in Google Analytics.
The first thing that I am looking for is
| | 02:20 |
keyword contains, then my keyword VW, and
it will then show me how many visits I
| | 02:24 |
received for that key phrase.
Now, isn't that better than just looking
| | 02:31 |
at a report that tells you that you had
20,000 visitors?
| | 02:35 |
Here, I know exactly what those visitors
were looking for.
| | 02:39 |
Something to do with a VW.
Then is the and or statement.
| | 02:44 |
Here is where I associate the word VW to
another phrase that tells me more
| | 02:49 |
explicitly exactly what about a VW they
wanted.
| | 02:54 |
The or statement will allow you to use
multiple forms of similar words so that
| | 02:59 |
you can find shared associations.
But I'm going to use the and.
| | 03:04 |
And so I'm looking for anyone who
searched on the phrase for sale.
| | 03:09 |
I only have to use the word sale because
at looking through my keywords that's how
| | 03:13 |
it's used and I usually like to use the
shortest form.
| | 03:17 |
This tells me that I had 5,000 visitors
looking for the phrase for sale.
| | 03:23 |
Now when I combine my big bucket and my
small bucket phrase, I now have 3,000
| | 03:28 |
visitors that used the word VW and also
used the word for sale.
| | 03:35 |
So now I have identified that small
bucket phrase for a very specific key
| | 03:40 |
phrase, and I can assess my performance
on that acquisition.
| | 03:49 |
So, when you are setting up segments,
identify your primary search term, or
| | 03:52 |
your anchor term, is a good way to think
about it.
| | 03:56 |
It going to be a central term, to
multiple phrases within that family of
| | 04:00 |
key phrases.
Make sure that its short enough to cover
| | 04:04 |
the plurals, or multiples or different
ways of saying the word.
| | 04:09 |
This is a good way to look for themes.
Look for the keywords that are showing up
| | 04:14 |
in your analytics, and as you compare
your small buckets in terms of volume or
| | 04:18 |
the types of words, you'll see themes
start to appear.
| | 04:23 |
Make sure you look at your small bucket
segments.
| | 04:26 |
This will start you on the path to
understanding what types of visitors you
| | 04:30 |
are getting to your website, and
attracting to your website.
| | 04:34 |
And then we start to measure intent.
| | 04:40 |
| | Collapse this transcript |
| Source determines behavior| 00:02 |
Next, in our development of a clear
analytics program, is we need to
| | 00:05 |
understand where people came from.
In prior modules we looked at search,
| | 00:11 |
determining intent and the search term
providing the motivation of the visitor.
| | 00:17 |
In this module, we're going to look at
the source, where people came from.
| | 00:22 |
And how that affects the behavior that
they will exhibit on the website.
| | 00:26 |
One thing to look at is the context of
links on other websites.
| | 00:32 |
In one project we started developing an
understanding of where people were coming
| | 00:37 |
from, based on the type of link, and
trying to see if that affected their behavior.
| | 00:43 |
Well, once we saw this on one site, we've
seen it exhibited on multiple sites, and
| | 00:47 |
that is a very similar pattern of
behavior.
| | 00:51 |
If people come from a contextual link on
another site, and by contextual link I
| | 00:57 |
mean a link that is in the editorial, or
in the content of another website.
| | 01:05 |
When our client site is cited and people
follow that link, they stay longer, read
| | 01:09 |
more pages, and they convert at a higher
rate.
| | 01:15 |
If it's an advertisement, we find that
people will convert at a high rate, but
| | 01:19 |
typically, your time on site is going to
be lower.
| | 01:23 |
Links on blogs are the next best
performing segment in terms of overall
| | 01:27 |
conversion rate, page views, and time on
site.
| | 01:32 |
Then after that, we have our four primary
keyword segments, and they all perform
| | 01:36 |
about the same.
And at the very bottom, we typically find
| | 01:40 |
that social news produces the least
amount of conversions, the least amount
| | 01:44 |
of engagement, but pretty high numbers in
terms of sheer volume of visitors.
| | 01:49 |
Why is that?
Context.
| | 01:53 |
Everything has to do with context, and
understanding why that link is so critical.
| | 01:59 |
You see, when people are on a site, and
they look at the editorial content that's
| | 02:03 |
there, typically, they will see links
within the content, and the links are
| | 02:07 |
specific to the subject matter they are
reading about.
| | 02:14 |
So the reader is already engaged with
that subject matter.
| | 02:18 |
When they see a link, that will give them
more insight, or more information they
| | 02:23 |
click on that link, and they are going
with the intent to learn more.
| | 02:30 |
You see they're already engaged with the
content before they even get to your
| | 02:33 |
site, and that's why they'll stay longer.
As opposed to a typical Twitter link,
| | 02:39 |
where sometimes the link is hidden in the
short code, and so based on the content
| | 02:44 |
of this tweet, we don't know what they're
trying to say.
| | 02:51 |
We don't know what we're going to see.
And so as a result we're a disengaged
| | 02:55 |
reader, and we're not sure what we're
going to see.
| | 03:00 |
And so we approach it hesitantly, even
though we might be looking for a
| | 03:04 |
distraction or looking for something,
we're not engaged, prior to clicking on
| | 03:08 |
the link.
Now, let's look at discussion forums,
| | 03:13 |
where people are actively engaged in
sharing information, sharing links to
| | 03:18 |
other sites, sharing links and
information, and references, and testimonials.
| | 03:25 |
People that come from discussion forums
are fantastic in terms of engagement
| | 03:30 |
because they're getting a one to one
referral on specific information.
| | 03:37 |
And then most news sites, when they're
writing the articles, will link to
| | 03:40 |
companies that they refer.
And in doing so, they're lending a
| | 03:45 |
certain amount of their credibility, by
linking to that site.
| | 03:50 |
So based on how engaged someone is with
the content, will determine how engaged
| | 03:53 |
they are when they come to the site.
People that come from blogs and articles,
| | 04:00 |
social sites, reviews and Youtube, tend
to stay longer and do more because of the
| | 04:05 |
context of the link being a high context,
high engagement type of content.
| | 04:12 |
However, in those articles there's very
little competition for the reader's attention.
| | 04:20 |
They're reading the article, they see the
link, they click on it, and go to your site.
| | 04:24 |
There's very little competition as
opposed to something like Twitter.
| | 04:29 |
Twitter, there is a lot of content, a lot
of competition, a lot of people posting
| | 04:33 |
to Twitter that depending upon the reader
that you're using you could be
| | 04:36 |
overwhelmed by the amount of content on
Twitter.
| | 04:42 |
And there's very little context, because
people are tweeting about thousands of
| | 04:47 |
different subjects, and so as a result,
you have very disengaged readers and
| | 04:51 |
visitors coming from Twitter.
Search in the middle because it's
| | 04:57 |
dependent upon the searcher to determine
context.
| | 05:01 |
The context of the search results page is
determined on the type of phrase the
| | 05:05 |
searcher uses.
The competition is always the same.
| | 05:09 |
There's nine other organic results.
Maybe there's some local results.
| | 05:14 |
Maybe there's some paid results.
The searcher knows if they don't find
| | 05:17 |
what they want, they can always click the
back button.
| | 05:20 |
And so as a result, compared to
everything else, search is a very medium
| | 05:25 |
engagement channel.
So when you look at who's coming to your
| | 05:32 |
website and where they're coming from,
always look at where those links are and
| | 05:37 |
report them in context.
Look at the page that has the link to
| | 05:42 |
your site.
How is that link presented?
| | 05:46 |
Is it in context?
Make sure to get a screen shot of it and
| | 05:49 |
include it in your next report, because
that will shed a lot of insight as to why
| | 05:53 |
those visitors act differently than
others.
| | 05:57 |
Estimate the type of engagement that they
are looking for, the content they're
| | 06:01 |
looking for, and what they expect to see.
Look at the entry page.
| | 06:06 |
When there's a link to your site, are
they sending people to the home page?
| | 06:10 |
Or are they sending people to a product
or an article?
| | 06:14 |
That's vitally important in order to
maintain the continuity of context.
| | 06:19 |
Measure and compare the different link
sources among each other to see who's
| | 06:24 |
most engaged, and who is providing the
best quality visitors.
| | 06:31 |
| | Collapse this transcript |
| Search determines intent| 00:01 |
What I love about looking at acquisition,
from the standpoint of search engines, is
| | 00:06 |
that search words show me the searcher's
intent.
| | 00:10 |
If I understand their intent, then that
begins my in-depth evaluation of analytics.
| | 00:18 |
Are people finding what they want?
In order to measure that, you need to
| | 00:23 |
know what they want, and that's the
intent.
| | 00:26 |
So when we look at our buckets, such as
watch, and we look at all the different
| | 00:29 |
words that people are using, to search on
and have found the site.
| | 00:34 |
Now depending upon what type of site you
are, you'll be happier to see some
| | 00:38 |
searches than others.
For example, if you don't offer watch
| | 00:42 |
repair, then that's not going to be
interesting to you.
| | 00:46 |
But to see how many searches end up at
your site, will be interesting, because
| | 00:50 |
you'll have to look and see, what you are
doing, that attract those searches.
| | 00:56 |
In another way, you'll realize that you
can't sell the same way to everyone, even
| | 01:00 |
though, they might be looking for a
watch.
| | 01:04 |
For example, someone who is looking for a
luxury or a vintage watch, is not going
| | 01:08 |
to be sold on the same factors, as
someone who's looking for a cheap watch.
| | 01:14 |
They're looking for very different
things.
| | 01:16 |
They're driven by price, and they're
looking for the lowest price possible, on
| | 01:21 |
something inexpensive.
Someone looking for a luxury watch, is
| | 01:25 |
prepared to spend a lot of money, and is
looking for something that is going to
| | 01:29 |
fit what they're looking for.
Someone looking for vintage.
| | 01:34 |
You may not know what type of vintage,
but they want to see older watches.
| | 01:38 |
You see, those three different groups of
buyers, even though they're looking for
| | 01:42 |
the same thing, in terms of a watch, they
need to see different things, and they
| | 01:46 |
need to be sold differently.
And so, in looking at the intent of the
| | 01:52 |
search word, where they enter on the
website, will make a remarkable amount of
| | 01:57 |
difference, as to how well they go
through your site and finish their objective.
| | 02:04 |
Are you meeting each one of these small
bucket or small segment searchers on
| | 02:09 |
their own terms?
Or are you trying to be everything to
| | 02:13 |
everybody, regardless of their intent?
You see, when I showed the searchers who
| | 02:19 |
were looking for Volkswagens for sale.
Ideally, I want those searchers to enter
| | 02:25 |
the site at a specific page, that deals
with Volkswagens for sale.
| | 02:30 |
People looking for Volkswagen repair
advice, or Volkswagen restoration?
| | 02:36 |
I don't want them to enter the site at
the For Sale page.
| | 02:41 |
You see, when you understand what people
are looking for, then you'll view your
| | 02:45 |
site very differently, because you'll be
looking at it, in terms of, your
| | 02:49 |
searcher's intent.
And then, the next logical step is what
| | 02:54 |
did they see?
This goes to our example, of the two
| | 02:58 |
visitors that go to a new site.
One visitor is looking for immediate information.
| | 03:04 |
They're only going to stay a little
while, and then they're going to leave
| | 03:08 |
the site.
The other visitor comes maybe less
| | 03:11 |
frequently, but stays longer, absorbing
more information, and reading more
| | 03:15 |
articles; viewing more pages.
In this way, we need to evaluate the
| | 03:20 |
behavior, that each different intent
would reflect.
| | 03:25 |
So do you have a commuter type of
visitor, which is regular?
| | 03:30 |
They're a repeat visitor with short
visits.
| | 03:33 |
Or do you have a traveler type visitor,
who comes infrequently, but they stay for
| | 03:38 |
a long time, and maybe just a single
session, rather then multiple sessions?
| | 03:44 |
So, look at the acquisitions that you're
making to your site, by search term.
| | 03:50 |
Try to work through what their intent is,
and then figure out what type of behavior
| | 03:56 |
would they display, based on that intent.
When you start looking in terms of
| | 04:03 |
intent, find the action words.
Find the words that define the larger term.
| | 04:09 |
Look for the differences within your key
word groups, your small bucket segments.
| | 04:15 |
Look for the words that define, but then
also show a very disparate intent, such
| | 04:19 |
as the difference between luxury and
cheap, because those two visitors are
| | 04:24 |
looking for very different things.
And they should find very different
| | 04:31 |
content on the site that they're going
to.
| | 04:34 |
Make sure you look also, and this is
where we're going to start building an
| | 04:38 |
understanding of our visitors, based on
the segment.
| | 04:43 |
Which words result in longer visits, and
which words result in shorter visits?This
| | 04:48 |
will help you determine the behavior that
different words bring when bringing
| | 04:52 |
different visitors.
And then also, which words bring frequent
| | 04:59 |
visitors back, again and again and again.
This is how we can start to deduct
| | 05:05 |
behavior from the intent.
| | 05:07 |
| | Collapse this transcript |
| Action determines engagement| 00:02 |
To better understand how people act on
our website and how we can improve our
| | 00:06 |
conversion rates, we need to evaluate the
actions that people take on the site that
| | 00:11 |
show engagement.
The more engaged people are, the more
| | 00:16 |
unlikely they are to perform actions that
lead to conversion.
| | 00:21 |
One of my favorite reports to do that
shows engagement, looks at the articles
| | 00:25 |
that are on the site, how many people
viewed those articles, and then what
| | 00:30 |
those people did that led to a
conversion.
| | 00:35 |
This report shows specifically how many
of those people that viewed the page, did
| | 00:40 |
something that was a profitable
conversion.
| | 00:44 |
When we look at this report, what we're
seeing is that there are five specific
| | 00:49 |
articles which lead to a
revenue-producing action.
| | 00:54 |
These articles differ from the rest
because they can double or quadruple the
| | 00:59 |
chances That someone is going to do
something that brings revenue to the business.
| | 01:06 |
And so, when you see 100% more than
average, 200% more than average, all of a
| | 01:10 |
sudden, reading this article becomes an
action that can lead to a prediction that
| | 01:15 |
the people that read these articles,
these articles are the highest influence
| | 01:20 |
articles that will lead to a revenue
producing conversion.
| | 01:27 |
We see the same thing based on where
people come from and the links they follow.
| | 01:34 |
For example, this site does not send many
readers to the web site, but the readers
| | 01:39 |
they do send, traditionally about 15% of
them, will fill out a sales or a lead form.
| | 01:47 |
Because they are businesspeople that are
looking for additional help.
| | 01:51 |
They're looking for resources.
And so they come to the website with a
| | 01:57 |
very different mindset of those that
might find it on a well-known website.
| | 02:04 |
Now, a link on that website will probably
bring some great search rankings because
| | 02:08 |
of the authority of that link.
But the visitors that come from that,
| | 02:13 |
very few, if any, became a lead.
Now, from an even bigger perspective,
| | 02:17 |
this link brought in tens of thousands of
visitors to the website, but none of them
| | 02:21 |
because a lead, none of them did any
revenue producing actions.
| | 02:26 |
Because it was on a social news network
and people view the articles very
| | 02:30 |
differently than someone who is looking
for a resource or an expert opinion on a
| | 02:34 |
particular subject.
Based on where they came from, their
| | 02:39 |
actions were predictable so we can
measure the engagement of these users but
| | 02:43 |
we can also predict how new users will
act, by how they find the website.
| | 02:49 |
One of the things you can do on your site
that will help you understand engagement
| | 02:53 |
a little bit more, is look at the about
the author or about the company page.
| | 02:58 |
By looking at that page, and then looking
at which content people look at prior to
| | 03:03 |
going to the about the author or about
the company page, and then looking at the
| | 03:08 |
pages that people go to after viewing
that page.
| | 03:14 |
One of the things we found is that prior
to conversion, a lot of people like to
| | 03:18 |
know a little bit more about the author,
about the president, or about the company
| | 03:22 |
they're about to invite into their life
to do business with.
| | 03:28 |
And so by looking at the conversion page
and then looking at which pages send
| | 03:32 |
people to the conversion page.
That's where we found the About page
| | 03:37 |
tends to be a very highly trafficked page
and a high influencing page on conversion.
| | 03:45 |
This website found out that their best
customers only stayed on the site for seconds.
| | 03:52 |
You see when we looked at the bounce
rate, we found that one particular page
| | 03:56 |
when people viewed that page, they were
151% higher than average going to leave
| | 04:00 |
the site within seconds.
The company initially thought they had
| | 04:06 |
big problem with their website because
the bounce rates were so high, but when
| | 04:10 |
we looked at which page it was.
It was a page that contained conversion
| | 04:14 |
charts for sugar packets.
People were looking to see how many
| | 04:18 |
packets of sugar substitute were needed
for a cup, a half a cup, or a quarter cup
| | 04:22 |
of measurement for a recipe that they
were cooking.
| | 04:26 |
When you stop to consider what this
person is doing, they are not sitting on
| | 04:31 |
the couch, passively browsing the
Internet.
| | 04:35 |
Chances are, they're in the kitchen, they
need an answer right away because they
| | 04:39 |
are in the middle of cooking with a
recipe.
| | 04:43 |
And so, this company realized that this
was their best visitor because they did a
| | 04:47 |
branded search on the sugar substitute in
order to find out how to use it in a
| | 04:51 |
recipe that they were cooking in.
And so people that came to that page were
| | 04:59 |
performing a specific action that was
profitable to the company, and they
| | 05:03 |
needed a way then, to reach these people
and to make the connection that much more valuable.
| | 05:11 |
However, these people were in the middle
of another larger action.
| | 05:15 |
Which was cooking in their kitchen.
They just needed to know a piece of
| | 05:20 |
information very quickly.
So when you're looking at the actions,
| | 05:25 |
that people perform on a website.
There are numerous actions that you could measure.
| | 05:30 |
If you have video views, on your website,
you can look at how many people are
| | 05:34 |
viewing those videos, and then comparing
to those visitors that don't view videos.
| | 05:41 |
How influencial are those videos to
conversion, comparing those that view
| | 05:45 |
videos and those that don't.
How about contact information?
| | 05:50 |
How many people view the contact
information as opposed to converting?
| | 05:54 |
Or, prior to converting, do they look at
that page?
| | 05:57 |
If people are downloading files, if you
have white papers, articles, e-books,
| | 06:03 |
anything like that that people can
download, is that an influencer towards conversion?
| | 06:10 |
If so, then that action can predict how
many people that take those action Are
| | 06:14 |
going to eventually convert and become
customers.
| | 06:19 |
Look at your conversion points, and then
look at the actions or content or links
| | 06:24 |
that come prior to the conversion.
Look for trends.
| | 06:29 |
Look to see which pages are heavy
influencers towards that conversion point.
| | 06:35 |
For contact information, what pages are
people looking at prior to looking at the
| | 06:40 |
contact information?
Are they articles?
| | 06:44 |
Are they author profiles?
Are they product profiles?
| | 06:48 |
Look to see where the trends are, and
which types of content are being viewed
| | 06:52 |
the most, prior to people looking for
information about you or your company.
| | 06:58 |
And then the about page.
That's always a great place to start, to
| | 07:02 |
look to see, what are people looking at
before they go see who's website it is
| | 07:06 |
and who's running the show.
People are always interested to know more
| | 07:11 |
about the company or the person they're
about to do business with prior to conversion.
| | 07:16 |
| | Collapse this transcript |
|
|
5. Value: The Master MetricWhat is value?| 00:02 |
The critical component of analytics is
measuring value.
| | 00:06 |
You see, a lot of people get sidetracked
looking at visitors and page views and
| | 00:10 |
time on site, which are a beginning of
understanding the behavior that people
| | 00:14 |
exhibit on the website.
But behavior falls short of showing you
| | 00:20 |
how to make your website better, and also
showing which marketing tactics you are
| | 00:24 |
performing that are working.
Value is the master metric.
| | 00:31 |
It's the only metric that will show you
the profitability of your actions.
| | 00:38 |
When we want to track conversions, the
primary goals that we're looking to track
| | 00:42 |
are revenue goals.
What is it that makes your business money?
| | 00:48 |
Those are the primary goals that you
should be tracking.
| | 00:52 |
Your secondary goals are anything that
leads to revenue.
| | 00:56 |
This could be people that register for
oh, downloads, such as a white paper.
| | 01:01 |
It can be people that subscribe to a
newsletter by giving you their email address.
| | 01:07 |
It's actions that don't directly produce
revenue, but can lead to revenue, because
| | 01:11 |
people are then giving you the permission
to market to them because they've given
| | 01:16 |
you their email address and contact
information.
| | 01:21 |
And then there are the tertiary goals,
people that really don't register, don't
| | 01:26 |
subscribe, don't produce revenue, but
they show engagement.
| | 01:31 |
They're viewing content, they're reading
articles.
| | 01:34 |
They're coming back often, these are the
peoples that are typically called lurkers
| | 01:39 |
because they are using your website as a
resource but they haven't contacted you yet.
| | 01:44 |
So you can use actions, content, things
that engage people show you that they are
| | 01:50 |
actively completing a goal or a task that
they have when they come to your website.
| | 01:58 |
The big three questions that will
transform your entire analytics are,
| | 02:03 |
where did visitors come from, what did
they do, and how do you respond?
| | 02:08 |
By asking these three questions, you will
change your analytics, because they are
| | 02:13 |
going to be focused on looking at
visitors by their source, how they found
| | 02:17 |
your website, what they were looking for,
their intent, and then, looking at the what.
| | 02:25 |
What did they do?
What pages did they view?
| | 02:28 |
What were they trying to accomplish?
When we start to understand where
| | 02:33 |
visitors came from their intent, and what
they did, their actions, it'll show us
| | 02:38 |
how we can respond by looking at what it
produced in terms of conversions and value.
| | 02:47 |
You see, search engine optimization is
just a piece of the puzzle, design,
| | 02:52 |
marketing, copywriting, analytics.
All these things come together, and they
| | 02:57 |
must work together in order to provide
business value.
| | 03:02 |
Because when you measure everything by
business value, you can then apply that
| | 03:06 |
knowledge to improve each area of
marketing your website online.
| | 03:13 |
You see, this is the value equation which
we are going to use throughout the rest
| | 03:16 |
of the course.
We want to know where people came from.
| | 03:21 |
That's their source.
What did they see?
| | 03:25 |
What did they do?
The primary aspect of this is knowing the
| | 03:29 |
first page they saw of the website based
on how they found the website.
| | 03:35 |
And then we want to know how many of
those people that came from that source
| | 03:39 |
and saw that page, converted.
Because this gives us a full context, of
| | 03:45 |
the visit, and the visitor, and their
intent.
| | 03:50 |
We can then get a full context, of that
group of people, based on what they were
| | 03:54 |
looking for, what they did, an then their
conversion.
| | 03:59 |
We can then get a value, of that group of
people.
| | 04:03 |
And understand how profitable that group
of people are in comparison to other
| | 04:08 |
groups of people, based on their source,
or what page they saw.
| | 04:13 |
This is the primary equation that will
help you breakdown success on your
| | 04:18 |
marketing and know what's working, what
isn't working, and more importantly, why.
| | 04:26 |
So what's the goal?
The goal is to increase your sales, your
| | 04:30 |
leads, your subscriptions, ad clicks,
anything that drives revenue.
| | 04:35 |
Or, it could be those actions that lead
to conversions, or actions that show that
| | 04:40 |
consideration or engagement.
But ultimately, the number one goal which
| | 04:46 |
a lot of people forget about is simply to
make money.
| | 04:50 |
That's what keeps businesses working,
that's what keeps people employed.
| | 04:56 |
The primary goal is to make money, and we
can't lose sight of that.
| | 05:00 |
So we have to measure by value.
| | 05:03 |
| | Collapse this transcript |
| How do you track value?| 00:02 |
So knowing that value makes all the
difference when it comes to analyzing our
| | 00:06 |
websites and our marketing, the next step
is to track that value.
| | 00:11 |
How do you implement it into your
analytics to ensure that you know what's happening?
| | 00:18 |
The way to develop value reports, is to
understand the different ways that value
| | 00:22 |
is produced.
If we go back to our value equation,
| | 00:26 |
understanding that not all people search
the same way, not all people are looking
| | 00:30 |
for the same thing.
And not all are going to do what you want
| | 00:35 |
them to do.
So we start first by identifying the
| | 00:39 |
different functions of the value
equation.
| | 00:43 |
And so, if we look specifically at the
conversion, because the conversion is
| | 00:46 |
what provides the value immediately.
It is that conversion action that
| | 00:52 |
provides immediate revenue, leads or
whatever makes your company business.
| | 00:57 |
So let's start there because that is the
crux of all of the measurement when it
| | 01:02 |
comes to value.
Now for this example I'm going to use
| | 01:07 |
Google analytics because that right now
is the predominant analytics package out there.
| | 01:12 |
When you go into your analytics this is
part of your analytics profile settings.
| | 01:18 |
So, you have to have of course,
administrator access to get into this screen.
| | 01:24 |
When you get into the goal settings,
there are three steps that are required
| | 01:28 |
in order to setup goals in Google
Analytics.
| | 01:32 |
And these steps are very close in other
analytics programs as well.
| | 01:38 |
The first step is to identify the goal.
So for example, in this website, the goal
| | 01:43 |
here, one of them, is to place a
classified ad.
| | 01:47 |
This results in immediate revenue to the
company.
| | 01:52 |
So here is our goal, to place the
classified ad.
| | 01:55 |
That is typed in by the administrator.
And so we have identified one goal.
| | 02:00 |
Then we track that goal.
So we know that anyone who hits the thank
| | 02:06 |
you page, and it's a match to that
specific URL.
| | 02:13 |
Every time that URL is requested and
Google Analytics sees that URL, it knows
| | 02:19 |
that that thank you page is the
completion of that goal.
| | 02:25 |
And when that completion is made, then
there is an assigned value.
| | 02:30 |
So for this website, it costs a user $5
to place a classified ad on this website.
| | 02:37 |
So for that action, which is identified,
it's tracked through a thank you page
| | 02:41 |
once that user has completed the process
of putting up the classified ad, paying
| | 02:46 |
for it, and then they receive that thank
you page.
| | 02:51 |
Once that URL is requested, Google
Analytics knows that as many page views
| | 02:56 |
for that URL that are in the analytics
then that is the value, $5 per page view.
| | 03:04 |
For that thank you page.
And so that is the three step process to
| | 03:08 |
fullfilling goals on your website and
measuring value.
| | 03:14 |
Identify the goal, track how that goal
will be tracked and viewed in analytics,
| | 03:19 |
and then assign a value to the completed
action.
| | 03:25 |
Identify, track the goal whether it's a
thank you page, a completed transaction,
| | 03:30 |
an action, a view, a click, a download,
each of these things can be tracked in
| | 03:35 |
different ways.
Different analytics programs may do it differently.
| | 03:42 |
But a lot of it revolves around tagging
appropriate URLs or actions within the
| | 03:47 |
web site.
And then finally, assign a value.
| | 03:52 |
This is where most people tend to leave
because they don't really understand or
| | 03:57 |
really don't know the value.
The worst thing you can do here is simply
| | 04:02 |
leave the value at zero, and decide to
come back to it another day.
| | 04:07 |
Start somewhere, because if everything is
worth nothing, then everything is equally useless.
| | 04:14 |
You've got to start measuring something,
and even though the value number may be
| | 04:19 |
off by a little bit, you can always
revise it.
| | 04:24 |
And once you start measuring and
tracking, you will most likely revise it,
| | 04:28 |
but you have to start with some sort of
value.
| | 04:32 |
| | Collapse this transcript |
| What's the value of a lead?| 00:00 |
When doing analytics, when the primary
goal is measuring value, it's always
| | 00:04 |
easier in an e-commerce or any other type
of site that has a monetary transaction,
| | 00:09 |
when it comes to lead generation, it's
much more difficult to place value on the
| | 00:14 |
conversion actions people take.
Technically its the same amount of tracking.
| | 00:22 |
First Identify what it is you want people
to do.
| | 00:27 |
Second it's track that action.
Now with lead generation best practice is
| | 00:31 |
that you have a thank you page which
confirms the action or the transaction
| | 00:35 |
that people have made.
It can be registration for a demo or a
| | 00:39 |
webinar, or simply signing up for a
newsletter, or subscribing to any type of information.
| | 00:46 |
Having a thank you page enables you to
give your analytics program a specific
| | 00:51 |
page, which notifies the program that
someone made the conversion process.
| | 00:59 |
Finally and most difficult, is figuring
out a value for that action.
| | 01:04 |
Now when it comes to lead generation,
it's more difficult because we don't have
| | 01:08 |
that easy transaction to track.
What we have is directing people to a
| | 01:14 |
specific landing page or to a specific
process based on what they're looking for.
| | 01:20 |
We can get them to watch a demo, ask for
more information, request a sales person
| | 01:25 |
to call, request downloaded white papers
or any other information.
| | 01:31 |
And so what we're really getting is the
contact information of that person.
| | 01:35 |
The first place you can start in terms of
value is, how much would it cost to buy a
| | 01:40 |
lead from a third party source?
The value of those leads that you would
| | 01:45 |
buy from a third party source are based
on how relevant they are, and how
| | 01:48 |
qualified they are.
The ones you generate yourself are more
| | 01:53 |
valuable because they've been to your
website, they know your brand and they
| | 01:56 |
took that action to request you to call
them.
| | 02:01 |
You see, I learned about the value of a
lead, when I was in telemarketing.
| | 02:05 |
And doing some really just basic sales
techniques.
| | 02:09 |
And it's all about the numbers.
When I was in telemarketing, I had a
| | 02:12 |
miserable time.
I didn't enjoy it at all.
| | 02:15 |
I didn't like calling people,
interrupting them, and being told no.
| | 02:19 |
However, there was another gentleman who
loved the job.
| | 02:22 |
He loved picking up the phone call and
talking to people, and if it didn't go
| | 02:24 |
his way, he'd pick up the phone again and
was right back at it.
| | 02:28 |
I asked him one night, why do you love
this job so much?
| | 02:32 |
And he explained to me that, well, out of
all the calls that I make in a night,
| | 02:35 |
I'll probably get about, oh, about a
fifth of them will be leads.
| | 02:40 |
But if I average that through the entire
week, and then I average that the entire
| | 02:44 |
month, I get a bonus because of how many
leads I've generated.
| | 02:48 |
If I average that through the quarter, I
get my monthly bonuses and a quarterly bonus.
| | 02:53 |
If I average that for six months, I get
my monthly bonuses and then two quarterly
| | 02:56 |
bonuses, and then a six month bonus.
On and on he went with an annual bonus,
| | 03:01 |
and then an annual top producer bonus,
and then also the top producers are all
| | 03:04 |
entered in a contest, where they get a
two week paid vacation.
| | 03:09 |
He says if I break down all of the money
that I am eligible for, it turns into
| | 03:13 |
$5.50 a phone call.
Well that blew my mind.
| | 03:18 |
Because he knew how many contacts he
needed to make in order to get a certain
| | 03:22 |
number of leads, which generated a
certain amount of sales.
| | 03:26 |
And then he took that number and worked
it back into the value of all of the
| | 03:30 |
leads that he had to make.
And so we need to do that as an organization.
| | 03:36 |
And going and finding out how many leads
does it take for us to get a sale, and
| | 03:40 |
how much is that sale worth?
Work the numbers back into how many leads
| | 03:45 |
you typically get and start to assign a
value.
| | 03:49 |
It may change over time, but you've got
to start somewhere.
| | 03:54 |
So, what is the value of a lead?
The first question is, what all are you tracking?
| | 04:00 |
Different registrations, or different
contacts or conversions, might be worth a
| | 04:04 |
little different.
So, registration for a webinar may have a
| | 04:08 |
different value than a registration of
someone simply asking for a sales person
| | 04:11 |
to follow up with them.
So, what are your goals for the organization?
| | 04:17 |
Is your goal just to generate leads or
are you responsible as well for
| | 04:22 |
generating lead sales?
Are you tracking everything from web
| | 04:26 |
leads through to organizational sales?
If so, your analytics program is going to
| | 04:31 |
have to be very dynamic, in order to
track the leads generated by your
| | 04:35 |
website, to track all the additional
followup marketing that's done, and then
| | 04:39 |
tracking your sales tracking program, and
how many of those leads became sales.
| | 04:46 |
And then being able to establish the
value of where they came from.
| | 04:50 |
You see, the goal is to be able to know
how much a web lead is worth compared to
| | 04:54 |
how much a direct mail lead is worth
compared to how much a trade show lead is worth.
| | 05:01 |
So you know where to put your marketing
dollar for the best leads.
| | 05:05 |
Now on this topic, there are a number of
things you can do that can not only
| | 05:08 |
increase your conversion rate in getting
leads, but can also increase your sales rate.
| | 05:15 |
You see, you can increase your close
rate, simply by starting the conversation
| | 05:19 |
with this new lead.
You see you've started a brand new
| | 05:23 |
relationship, and it's time for them to
learn more about you, and you to learn
| | 05:27 |
more about them.
So instead of just giving someone a blank
| | 05:31 |
thank you page and letting them leave the
site, engage them.
| | 05:35 |
Ask them if they have any additional
information that they need to share in
| | 05:39 |
order to help the sales person.
Or, until the sales person calls, have
| | 05:43 |
them get information ready that's going
to be necessary in that follow up call.
| | 05:48 |
One company increased their sales close
rate on that initial phone call by 200%
| | 05:53 |
just by having people gather the required
information prior to the call.
| | 05:59 |
Little things can make big differences.
And so, in order to provide better
| | 06:04 |
service, you can help your new lead learn
more about the company.
| | 06:08 |
And also provide links to white papers or
downloads that will assist them in
| | 06:12 |
getting more information, or educating
themselves on your products, before that
| | 06:16 |
follow up call.
| | 06:18 |
| | Collapse this transcript |
| Finding value in your marketing| 00:02 |
As we use the value metric as the
centerpiece of all of our analytics, it
| | 00:06 |
will then transform how we view
everything.
| | 00:11 |
How we view our search engine
optimization, our website improvements,
| | 00:15 |
our lead generation and our sales will
all be affected by the cornerstone of value.
| | 00:23 |
When we look again at our value equation,
we want to know where people came form
| | 00:28 |
and what they were looking for.
We want to know what did they see and as
| | 00:33 |
a result what did they do.
And that will tell us the value of that
| | 00:37 |
group of people.
And by breaking that equation down into
| | 00:42 |
little parts, and looking at those small
segments of people and what they were
| | 00:46 |
looking for and what they accomplished,
it will help us understand what small
| | 00:51 |
parts to improve, which will result in
large improvement on the website.
| | 00:59 |
So in breaking down how value enables us
to see where we are and how we can grow.
| | 01:05 |
So for example, one of the things that I
enjoy doing for a company is looking at
| | 01:11 |
where are you at right now, and what
would happen if you grew by 20%.
| | 01:18 |
So we start with the basic overview of
the website and the marketing in getting
| | 01:22 |
a baseline of where we are going to
measure in order to estimate what would
| | 01:27 |
happen if things were to grow.
We start by looking at the average number
| | 01:34 |
of visitors for that quarter or that
month, depending upon the seasonality of
| | 01:38 |
the business.
We look at the average sale, the average
| | 01:42 |
conversion rate, and what that produced.
So those four numbers, highlighted in
| | 01:48 |
red, show us an average of about 50,000
visitors, around $45 average sale, and an
| | 01:53 |
average conversion rate of 1.58%.
That results in about $35,000 of sales in
| | 02:00 |
that time period.
Now if we were to grow this business
| | 02:05 |
there's a couple of different ways we can
grow it.
| | 02:09 |
First is by doing search engine
optimization and increasing the amount of
| | 02:13 |
visitors to come to the website.
So when we take those numbers and we
| | 02:18 |
start looking at, well, if we want to
double the sales, that means we need to
| | 02:22 |
go from 50,000 visitors to 100,000
visitors.
| | 02:27 |
That's the only way you're going to go
from $35,000 of sales to $70,000 worth of sales.
| | 02:34 |
It might be more realistic to say that
we're going to grow by about 20%.
| | 02:38 |
We're going to go from 50,000 visitors to
60,000 visitors.
| | 02:42 |
And we can see that the increase in
revenue is fairly significant, but only
| | 02:47 |
about little less than $10,000.
So this gives, a view of understanding,
| | 02:54 |
the proper role of search engine
optimization.
| | 02:58 |
That it's going to take a lot of work to
double the amount of visitors, in that
| | 03:03 |
time period.
And really, when you do implement a
| | 03:07 |
search engine optimization campaign, it
does depend on, the age of the website.
| | 03:13 |
How long has the business been around?
What type of marketing do you do?
| | 03:17 |
And is there a prospect of even the
ability to double the amount of visitors
| | 03:23 |
to your website?
It's a significant amount of work.
| | 03:28 |
But one of the other things that we need
to look at, is are people doing what you
| | 03:31 |
want them to do, what is the conversion
rate and can we improve the conversion rate.
| | 03:38 |
You see, the conversion rate right now
for this company is 1.5%.
| | 03:42 |
That in reality is one and a half people
out of 100.
| | 03:48 |
We've got a significant level of
opportunity here.
| | 03:51 |
Just one and a half out of 100 people are
doing what they need to do in order to
| | 03:56 |
create revenue.
If we double one and a half, that's three people.
| | 04:03 |
We're only looking for three out of 100
visitors to take that action.
| | 04:08 |
And so if we were to double that, another
1.5%, to 3%, automatically we've nearly
| | 04:16 |
doubled sales.
And so now we're starting to understand
| | 04:22 |
the role that both search engine
optimization and analytics and usability
| | 04:26 |
and testing are able to produce.
Because just by doubling the conversion
| | 04:32 |
rate we can double sales.
And when we start to look at increasing
| | 04:37 |
the amount of visitors, we're also
increasing our ability to do a
| | 04:41 |
significant impact of raising the revenue
of this company.
| | 04:47 |
The yellow blocks are the sweet spot.
That's what happens when you increase
| | 04:51 |
both the conversion rate and the amount
of visitors.
| | 04:54 |
That all of a sudden now you're into that
realm of doubling the amount of revenue
| | 04:58 |
for that time period.
So you can either double revenue through
| | 05:04 |
increasing the useability and the market
ability of the website or increasing the
| | 05:08 |
amount of visitors.
But when you do both at the same time,
| | 05:12 |
then you can only do this by having value
set apart as a goal for your marketing.
| | 05:20 |
And you can see how this sweet spot there
of doing both increasing your visitors,
| | 05:25 |
and increasing the ability of your
website to meet the needs of the visitor.
| | 05:32 |
Becoming more marketable, usable, and
allowing people to find what they want to
| | 05:37 |
do more easily.
That produces revenue as well.
| | 05:42 |
And so what we're looking at here is the
opportunity.
| | 05:46 |
And so you've got to look at right now,
creating the baseline.
| | 05:49 |
What's your average number of visits,
sales, and conversion rate in a specific
| | 05:54 |
time period?
What will it take to increase visitors?
| | 05:58 |
Are you actively doing search engine
optimization right now, or have you done
| | 06:02 |
it in the past?
If you have already been utilizing search
| | 06:05 |
engine optimization.
Then you're not going to see a massive
| | 06:09 |
increase in visitors because you've
already begun developing the tools and
| | 06:13 |
the things you need to do to increase
those visitors.
| | 06:17 |
If you've never done search engine
optimization, then you will see a
| | 06:20 |
significant climb.
What will it take to increase conversions?
| | 06:25 |
Review your site and find out is it easy
for people to do what you want them to do?
| | 06:30 |
There is some simple useability tests and
techniques that you can do that can
| | 06:35 |
increase the amount of conversions on
your website.
| | 06:39 |
What can it take to increase the average
sale?
| | 06:41 |
How can you add on additional sales or
additional products?
| | 06:45 |
What would a 20% increase mean to your
business?
| | 06:48 |
This is the second step of looking at
your goals for your website.
| | 06:53 |
When we initially talked about goals, it
had to do with what makes you money.
| | 06:57 |
The second layer here, is what does it
take to grow by 20%.
| | 07:01 |
What does it look like in terms of
visitors.
| | 07:05 |
And what does it look like in terms of
your conversion rate.
| | 07:08 |
By looking at the value of your site and
the value of actions that contribute to
| | 07:12 |
your business you'll be able to create a
reasonable opportunity analysis that will
| | 07:17 |
set the goal for your marketing.
| | 07:21 |
| | Collapse this transcript |
|
|
6. Everything Is MeasurableThe value of content| 00:02 |
When you're measuring by value you can
measure everything on your web site.
| | 00:06 |
One of the most important areas to
measure is the content of your web site.
| | 00:11 |
What are people reading and does it help
them?
| | 00:15 |
When we start breaking down our segments
and we start looking at our segment
| | 00:18 |
equation for analytics, we looked for
where people came from.
| | 00:22 |
What were they looking for?
What we're going to be looking at here,
| | 00:25 |
is which page they entered at, and what
they saw, because that's a critical part
| | 00:29 |
of the conversion and then establishing a
value for visitors in this specific segment.
| | 00:36 |
We're going to be looking at the landing
pages, and the content that they saw And
| | 00:40 |
how we can derive value from that.
So when we're looking at this report,
| | 00:45 |
what we're looking at is this goal set.
There are four goals in the goal set and
| | 00:51 |
of the four goals there is a 7.76%
conversion rate.
| | 00:56 |
That's very good.
We're looking at about almost 8 out of a
| | 00:59 |
100 people doing what we want them to do.
Now we're finding the keyword in the
| | 01:04 |
report and then the landing page.
Now as you can see the landing pages are
| | 01:09 |
showing up.
If it's just the forward slash that means
| | 01:12 |
they're going to the homepage as their
first landing page.
| | 01:16 |
And then we measure the goal converstion
rate and then the goal revenue.
| | 01:22 |
So, just by looking at this chart on
analytics, it's going to give us a number
| | 01:26 |
of key information points that will allow
us to determine how successful someone
| | 01:30 |
was in finding the information that they
wanted.
| | 01:36 |
So for our first keyword, VW Thing for
Sale, we see that they are entering at a
| | 01:41 |
specific page, however their conversion
rate is only 0.77%.
| | 01:48 |
The goal revenue generated was $1.30.
Not a lot for that keyword.
| | 01:53 |
However if we compare that to number 3,
which is old VW Beetle for sale, people
| | 01:58 |
entered the home page, and from that, it
resulted in a 9% conversion rate, and $5
| | 02:02 |
of goal revenue.
So now we can look and see that specific
| | 02:09 |
pages assist the conversion rate based on
what people were looking for and what
| | 02:13 |
they saw.
And so we can compare and contrast which
| | 02:19 |
landing pages are working for us.
We can also look at the bounce rate in
| | 02:24 |
determining which pages are working
against us.
| | 02:27 |
You see, in the pages that are circled
here in red, that means that people are
| | 02:32 |
more likely than average to bounce out of
the site, that is to leave immediately
| | 02:36 |
after viewing one page.
If they view these pages.
| | 02:42 |
For articles number six, for that page,
we had 241 people view that page.
| | 02:49 |
And of those people, they were 40% more
likely than average to leave the site.
| | 02:58 |
And so, for some reason, that page just
wasn't working well when it came to a
| | 03:02 |
bounce rate.
And so we can target our bounce rates.
| | 03:05 |
Instead of looking at one overall bounce
rate, and getting worried.
| | 03:09 |
Such as the 66 percent up top.
We can look individually at our articles
| | 03:13 |
and at our pages.
And see which pages of content.
| | 03:18 |
Push people away from the website.
Conversely, we can look to see which
| | 03:23 |
pages, either reduce the bounce rate, or
have none at all.
| | 03:26 |
The 100% reduction in bounce rate, or the
100% in the green bars, means that nobody
| | 03:32 |
bounced out of these two pages.
Everyone that saw them, moved on through
| | 03:38 |
the site, to additional pages.
Now, beyond bounce rate, you can also
| | 03:43 |
measure the revenue.
How much revenue did people generate when
| | 03:48 |
they went to a certain page on the
website?
| | 03:51 |
And so we can see here, how much money
was created, and then compared to the
| | 03:56 |
site average, we can see where five
articles specifically created double or
| | 04:01 |
quadruple the chances that someone would
make a revenue producing action based on
| | 04:06 |
viewing those pages.
So in measuring our content we can see
| | 04:13 |
which types of content keep people on the
site, and push them towards revenue
| | 04:17 |
producing conversions.
And we can also see which content takes
| | 04:22 |
people off the site, or makes them less
likely to produce revenue conversions.
| | 04:30 |
When working with content value, ask a
couple of very basic questions.
| | 04:35 |
When you tie content to actions such as
bounce rate or revenue, which content is
| | 04:40 |
attracting visitors?
Ask yourself which content is
| | 04:45 |
contributing to your overall goal, and
which content makes people leave.
| | 04:50 |
Just by asking those 3 questions, you'll
be able to evaluate your content and know
| | 04:55 |
which content is producing actions that
are keeping people on the site and
| | 04:59 |
keeping them producing revenue producing
actions.
| | 05:04 |
As well as finding which content makes
people leave the site immediately.
| | 05:09 |
By asking those three questions, it will
leave you with the final question, how
| | 05:12 |
are you going to approach your content,
once you know these answers?
| | 05:17 |
| | Collapse this transcript |
| The value of the entry page| 00:02 |
Now let's look specifically at the value
of the entry page, the first thing
| | 00:06 |
someone sees.
Again, visitors who searched for a
| | 00:10 |
specific term or came from a source.
We're looking specifically at search
| | 00:16 |
visitors, and their search for specific
information.
| | 00:19 |
Because those are the ones that exhibit
the bounce behavior and are particular to
| | 00:23 |
the first page that they see.
So we're looking at that entry in order
| | 00:27 |
to determine the value.
I'm going to start with an example.
| | 00:31 |
A case study of one company where we
worked with them.
| | 00:34 |
And they had a primary key word that
generated business for them.
| | 00:39 |
Now the average keyword conversion rate
was 2.2%.
| | 00:43 |
That means about 2 out of a 100 people
that came from a search engine would
| | 00:47 |
become a lead for them.
So based on that it was a pretty good
| | 00:52 |
conversion rate for the term.
But when we started breaking down by
| | 00:57 |
landing page, how people acted, we saw a
very different story.
| | 01:03 |
You see, the homepage ranked number 3 for
this keyword.
| | 01:07 |
We received almost 3,000 search visitors,
but the bounce rate was higher than average.
| | 01:14 |
And the conversion rate was lower than
average.
| | 01:16 |
Both numbers are red, because the bounce
rate was higher than average and the
| | 01:20 |
conversion rate was lower than average.
Not good.
| | 01:25 |
But resulted in 48 conversions in that
time period.
| | 01:28 |
Now there was also a category page from
the same website.
| | 01:32 |
Which ranked on the number two page of
search results and had a ranking of
| | 01:36 |
number 12.
They had a third of the search visitors.
| | 01:41 |
But the bounce rate was significantly
less.
| | 01:44 |
And the conversion rate was more than
double.
| | 01:46 |
And it resulted in almost the same amount
of conversions.
| | 01:50 |
That changed our thinking dramatically,
because what we saw is that when people
| | 01:54 |
entered the site closer to their
destination and on a more relevant page
| | 01:58 |
to the information that they were looking
for, they're more likely to become a conversion.
| | 02:05 |
You see, in another company we have the
same product, the portable ultrasound
| | 02:10 |
machine, has rankings and is sending
people to the website.
| | 02:17 |
One is sending people to the home page,
the other is sending people specifically
| | 02:20 |
to that product page.
However, there's a dramatic difference in
| | 02:24 |
the conversion rate.
The product's page converts people at
| | 02:28 |
26%, the home page converts people at
12%.
| | 02:32 |
More than double a conversion rate for
people entering further into the site for
| | 02:36 |
the same exact word.
So when we analyze entry pages, the first
| | 02:42 |
question we need to ask, is this the best
page for the search term?
| | 02:47 |
If you find that your home page is
appearing for search terms, and that
| | 02:51 |
you're having a high bounce rate and a
low conversion rate, chances are it's
| | 02:55 |
time to de-optimize the home page for
rankings.
| | 03:00 |
And put your effort into a product page
or a product category page or another
| | 03:03 |
page that's much more relevant, and
you'll see your conversion rate climb.
| | 03:09 |
Look at how people are reacting to the
content.
| | 03:13 |
The bounce rate, the conversion rate,
where people go from those pages.
| | 03:18 |
Those are great ways of looking at the
information in context to know if the
| | 03:22 |
entry page is the right page for the
search.
| | 03:26 |
Look at the behavior of your searchers.
Compare the entry rates of different
| | 03:30 |
pages and how people are behaving based
on the bounce rate, conversion rates, and
| | 03:35 |
time on site.
Focus on the right pages.
| | 03:40 |
It's easy to make a decision when you see
clearly which pages are keeping people on
| | 03:44 |
the site, and converting them to become
customers.
| | 03:49 |
Make sure that you focus on those pages
to get rankings for the right pages not
| | 03:53 |
rankings for pages just because you can.
| | 03:57 |
| | Collapse this transcript |
| The value of SEO| 00:02 |
When you start calculating value, the
value permeates into every area of your marketing.
| | 00:07 |
You can now measure everything that you
are doing in order to generate business
| | 00:11 |
to your site, such as search engine
optimization, social media marketing,
| | 00:16 |
content development, everything you do
that is designed to bring people to your
| | 00:20 |
site and make them take an action can be
measured.
| | 00:26 |
In the previous module we looked at how
content can be measured for effectiveness.
| | 00:31 |
That goes hand in hand with search engine
optimization.
| | 00:34 |
You see when we start building these
segments, when we look at visitors who
| | 00:38 |
wanted a particular subject or they
desired something, we can look at what
| | 00:43 |
they searched for, what page they entered
on and what they did.
| | 00:50 |
What people wanted is the cornerstone of
this equation because that's how we can
| | 00:54 |
measure the effectiveness of our web
site.
| | 00:58 |
And by breaking things down, such as our
search visitors, into the individual
| | 01:02 |
terms that they were looking for or
groups of terms we can then determine if
| | 01:06 |
this strategy is the right strategy and
most importantly, a profitable strategy
| | 01:10 |
for us to be pursuing.
In one example, we took a vacation
| | 01:18 |
destination in South Dakota.
We looked at a number of web sites that
| | 01:24 |
were used for the tourism industry and we
took a snapshot of a month's worth of data.
| | 01:30 |
In that month, we found that there were
over 14,000 visitors who searched for
| | 01:35 |
some form of the word map.
Now this could be regional maps, road
| | 01:40 |
maps, hiking maps, any type of map.
What we were looking for is the group of
| | 01:46 |
words, the big bucket of words that
contained the word map.
| | 01:51 |
The main reason we focused on this is
because it was fascinating to see what
| | 01:54 |
was happening.
It was one of the larger terms that
| | 01:57 |
people were searching for, but it was one
of the worst performing groups of terms.
| | 02:04 |
As you can see, everything in red means
it was below average.
| | 02:07 |
It was below average their time on site,
below average their page views, above
| | 02:12 |
average, the visits less than five
seconds, below average, how many people
| | 02:16 |
found the page that they were looking for
and a significantly below average
| | 02:20 |
conversion rate.
You see, when we're looking at things
| | 02:26 |
like page views, time on site, they don't
make sense when it's by themselves and
| | 02:30 |
you're looking at an aggregate number of
visitors.
| | 02:34 |
You see, here we're only looking at the
amount of people who wanted something in
| | 02:38 |
particular, and we find that that segment
of users, that segment of people who
| | 02:42 |
wanted that particular thing, were under
performing compared to everything else on
| | 02:47 |
the site.
So there's a significant problem here,
| | 02:53 |
but because we've broken it down by
segment, we can identify what the problem
| | 02:57 |
is and fix it.
So we go back to some old SEO techniques
| | 03:01 |
and that is, looking at the keywords and
phrases that people are using, using the
| | 03:05 |
word map and what they're looking for.
We'll look at all the prefix words and
| | 03:11 |
the suffix words and how many people are
searching for them and looking for
| | 03:15 |
patterns and phrases that people use in
order to find what they're looking for.
| | 03:21 |
We then went to Google Insights and typed
in the four most predominant types of
| | 03:25 |
phrases that people used when they were
searching for maps.
| | 03:30 |
Interestingly, we found out there were
significant trends that repeat themselves
| | 03:34 |
year after year after year for each of
the groups of maps.
| | 03:38 |
It helped us better understand how to
arrange those phrases in our search
| | 03:42 |
engine optimization and implement those
throughout the sites.
| | 03:48 |
It also helped us look at how are the
pages designed.
| | 03:52 |
The old page, as we showed before, very
few people were finding the actual maps
| | 03:57 |
page or visiting it or entering at it.
We found that the maps page on the old
| | 04:03 |
site really wasn't specific that this is
the maps page.
| | 04:07 |
The new page was redesigned to show
people that you are here on a page of
| | 04:11 |
maps because there were maps on the page.
And as you scrolled down there was one
| | 04:17 |
predominant map and then other maps that
were related.
| | 04:21 |
Because we saw the interchange throughout
the year of significant maps that were
| | 04:26 |
requested more than others the primary
map rotated throughout the year based on
| | 04:30 |
the seasonality of what people were
requesting in search terms.
| | 04:37 |
All these changes and the focused search
engine optimization made some fantastic differences.
| | 04:45 |
In two years the amount of visitors
finding these sites for the words maps
| | 04:49 |
related to South Dakota went from 14,000
to 42,000 visitors.
| | 04:54 |
From below average two minutes and 13
seconds time on site, to a well above
| | 04:58 |
average seven minutes and 30 seconds time
on site.
| | 05:03 |
From a below average four page views to
an above average ten page views.
| | 05:07 |
From a bounce rate that was high at 43%
to a 12% bounce rate.
| | 05:13 |
But in terms of profitability and
revenue, people searching for the word
| | 05:17 |
maps, were only converting at a half a
percent.
| | 05:20 |
That grew significantly to a 4%
conversion and it had a dramatic impact
| | 05:25 |
in the revenue of these websites for
people that were requesting information
| | 05:30 |
and booking vacations.
So, when you measure by value, you can
| | 05:36 |
measure the words and segments that you
are utilizing in your search engine
| | 05:40 |
optimization campaign.
You identify and measure each different
| | 05:45 |
segment and you find opportunities that
are available in the content and look for
| | 05:50 |
big problems or big opportunities.
Look for the behaviors, the trends and
| | 05:57 |
the common factors that are being
exhibited by the visitors based on the
| | 06:01 |
keyword or key-phrase that they're
looking for.
| | 06:05 |
They're going to behave in a way that
lets you know that they are either
| | 06:08 |
finding what they want or they're not
finding it and leaving the site and this
| | 06:12 |
will enable you to focus on the right
words.
| | 06:17 |
And by right words, I mean the ones that
are most profitable and making you the
| | 06:21 |
most money.
That way, you can focus your search
| | 06:25 |
engine optimization on the words that are
bringing you business rather than
| | 06:29 |
focusing your time and effort and money
on words that might not be as profitable.
| | 06:36 |
| | Collapse this transcript |
| The value of words| 00:02 |
Now beyond simply looking at keywords,
content, and SEO, I want to look
| | 00:07 |
specifically at the value of individual
words.
| | 00:12 |
Many times when we evaluate our search
rankings, we look at them in terms of
| | 00:16 |
which words are ranking number one, and
we consider that a measure of success.
| | 00:22 |
However, what most people don't do is
look at the keywords that are not only
| | 00:27 |
driving traffic to the site, but the
words that generate a significant amount
| | 00:32 |
of value to the business.
It's entirely possible to have thousands
| | 00:39 |
of words ranking number one, or in the
top ten in the search engines, but losing money.
| | 00:46 |
You need to be sure that you are ranking
for the right words, and the words that
| | 00:51 |
carry value and provide revenue for your
business.
| | 00:58 |
That's where looking beyond the ranking
report and using analytics to determine
| | 01:02 |
did people find what they were looking
for and what searches are more valuable
| | 01:07 |
than others.
You see when we look at some case studies
| | 01:12 |
we typically find these types of gold
mines when it comes to words.
| | 01:19 |
You see in this case we're looking
overall the average aggregate numbers
| | 01:24 |
that there's a 0.2% conversion rate.
That's not a lot.
| | 01:29 |
There's also another thank you form
that's only getting a 0.7% conversion rate.
| | 01:38 |
Then there's the goal conversion rate,
which is getting about 2.3% and a per
| | 01:44 |
visit goal value of $2.74.
That means that every visitor that comes
| | 01:51 |
to that site is providing $2.74 on
average.
| | 01:56 |
Now, because it's an average, we know
that it's made up with people bringing a
| | 02:00 |
lot more value and people bringing a lot
less.
| | 02:04 |
So we want to break apart this per visit
goal value because we know some goals are
| | 02:08 |
worth more than others.
When we broke it down, we found that a
| | 02:14 |
very detailed key word phrase, which we
called the long tail keyword.
| | 02:19 |
It's typically our key phrase with a few
other words mixed in, but what that does
| | 02:25 |
is show how detailed the search word is.
Now when we compare that to the primary
| | 02:32 |
keyword of that keyword group, that is
the big bucket keyword, the big bucket
| | 02:37 |
keyword was worth $4.30 a visit.
In other words, everyone who used that
| | 02:44 |
primary keyword when they came to the
site, and those that converted, of all
| | 02:49 |
the value that was generated, it breaks
down to $4.30 per visit for that primary keyword.
| | 02:58 |
The long-tailed keyword generated nearly
$19 of value per visit.
| | 03:06 |
And so this word should demand your time
and your attention because it is five
| | 03:12 |
times as much value than the primary
keyword.
| | 03:18 |
And so your search engine optimization
campaign and work needs to evaluate and
| | 03:24 |
find which words carry more value per
visit than other words.
| | 03:30 |
Because it won't matter which word ranks
number one if you're not ranking number
| | 03:36 |
one or have a top ranking for high value
keywords that generate business.
| | 03:43 |
The quickest path to success and
increasing your revenue is finding those
| | 03:46 |
words that are worth much more than other
words and building those up first.
| | 03:52 |
This will allow you to work on the next
level of words that may not be worth near
| | 03:55 |
as much in value, but can then be built
up.
| | 03:59 |
In this way, you are prioritizing your
work on the most revenue producing,
| | 04:03 |
hopefully profit producing words, first,
then moving towards lower value words later.
| | 04:11 |
You see even when we take an even more
complicated report, we're looking at a
| | 04:15 |
number of goals, we're looking at the
keyword, the landing page, the goal
| | 04:19 |
conversion rate and the per visit goal
value.
| | 04:24 |
And looking at all the keywords that
provide visitors to this website.
| | 04:29 |
It became apparently clear that one
keyword generates visits worth $0.18 a visit.
| | 04:35 |
And the other keyword generates almost $7
a visit.
| | 04:40 |
Which keyword are you going to focus your
time and attention on in order to
| | 04:44 |
maximize the revenue for your efforts?
It becomes abundantly clear the more you
| | 04:52 |
dig into analytics and see the value of
individual words.
| | 04:58 |
What individual words give us is searcher
intent.
| | 05:01 |
We can see what the searcher wants, we
can go back and look at the landing page,
| | 05:06 |
and we can see the value that was
generated based on that.
| | 05:11 |
But overall, what we don't want to lose
is the intent of the searcher and looking
| | 05:15 |
at their visit from their viewpoint.
We also want to compare the performance
| | 05:22 |
of these keywords, even though they may
even have the same base word, there may
| | 05:26 |
be additional words that clarify the
intent and also show a significant
| | 05:31 |
difference in the value of that visit.
Always go back and look at your search
| | 05:39 |
engine optimization campaign goals and
make sure that your optimization lines up
| | 05:43 |
by focusing on words that have the
highest revenue rather than ones that are
| | 05:47 |
just simply easiest to get a number one
ranking for.
| | 05:53 |
And finally, it's all about value.
Focus on understanding which words create
| | 06:00 |
high-value visits and you'll be very
successful in no time at all.
| | 06:06 |
| | Collapse this transcript |
| The value of social media| 00:02 |
As with any other channel, you can
determine the value of marketing in those channels.
| | 00:06 |
We can do the same thing with social
media.
| | 00:10 |
The first thing to remember is that not
all social media channels are equal.
| | 00:15 |
They're all very different because they
appeal to different types of people who
| | 00:19 |
communicate in very different ways.
Some channels are very active and require
| | 00:25 |
an active approach from the visitor.
Others are very passive, and so people
| | 00:31 |
that take in those streams of information
will act in a passive manner.
| | 00:36 |
Also, when measuring just different
activities that lead to conversions, we
| | 00:41 |
talk about the number of posts.
Exact Target did a study of multiple
| | 00:46 |
companies and the marketing work they did
in different channels.
| | 00:51 |
When broken down, all of the work by
number of posts, that is, the number of
| | 00:55 |
posts that were made to Twitter, to their
blogs, and to discussion forums.
| | 01:00 |
46% of all their posts went to discussion
forums, 37% to blogs, and 17% to Twitter.
| | 01:07 |
This is where the activity of multiple
companies was focused in developing their
| | 01:12 |
online social media marketing plan.
However, when it came to the number of
| | 01:18 |
impressions that people looked at as well
as lead to conversions, blogs
| | 01:22 |
overwhelmingly generated the most amount
of conversions, whereas forums and
| | 01:27 |
twitter were miniscule in comparison.
So not all activities that you work in in
| | 01:34 |
social media will lead to conversions.
Now, a lot of this is dependent upon what
| | 01:40 |
is a conversion for you, and what are you
expecting.
| | 01:45 |
So when we talk about social media, we
need to have a specific clear goal of
| | 01:49 |
what you are trying to accomplish through
the use of that social media.
| | 01:55 |
If all you're trying to do is develop
reach or awareness, then what you're
| | 02:00 |
going to be measuring are simply
impressions or views.
| | 02:05 |
Because, that's all that really is,
people are aware that it's available, and
| | 02:09 |
so it's very difficult, if at all, to
attribute some sort of value to that.
| | 02:15 |
Because there really, other than that
reach or awareness metric, there's not a
| | 02:19 |
lot of value other than that awareness.
Now in consideration, we're looking at
| | 02:25 |
people using your social media channel to
the point where they become a member and
| | 02:29 |
then also integrate themselves into other
features that you may be offering.
| | 02:35 |
Such as contests, reading the information
that's there, installing an app or other
| | 02:40 |
type of program.
This is consideration stage, and so
| | 02:44 |
again, determining value may be very
difficult.
| | 02:48 |
When you're looking at how many members
or friends you have on Facebook, that
| | 02:52 |
doesn't really translate into an
immediate ratio of sales.
| | 02:57 |
So, you're not looking so much at a hard
number, maybe something like fifty cents
| | 03:01 |
or a dollar for a visitor, but you've got
to track what's happening.
| | 03:07 |
The next stage is favorability, and this
is where you know that someone likes you
| | 03:12 |
because they've passed it along, they've
forwarded things, they've shared it,
| | 03:16 |
liked, or specifically left comments or
linked to your blog or something else
| | 03:21 |
beyond there, where there was an active
approach to favoring your content.
| | 03:30 |
When that active step has been made, now
you can attribute a higher level of value
| | 03:34 |
to those actions.
Of course, if someone refers you through
| | 03:39 |
a link, and they refer someone else to
your product or your company, that's a
| | 03:43 |
referral, and so we can count it as such,
till eventually you get to that purchase
| | 03:48 |
or that lead, where we can attribute the
value.
| | 03:54 |
So, in social media, the key is in
understanding what you are trying to
| | 03:57 |
accomplish with each channel and how you
will measure success based on the
| | 04:01 |
interaction available within that
channel.
| | 04:07 |
So when we integrate it, number one, know
your goal.
| | 04:10 |
Are you trying to use this channel for
customer service?
| | 04:14 |
Or is it simply a conversation medium to
build interest?
| | 04:18 |
Is it direct sales, or are you looking
for people to share your information and
| | 04:23 |
link to it and then for them to repin,
retweet or paste it on their own
| | 04:27 |
Facebook, share it beyond your
boundaries?
| | 04:32 |
If so, then you need to measure each one
of these things differently, because
| | 04:38 |
they're each in different stages of
consideration, favorability or loyalty.
| | 04:46 |
| | 04:46 |
| | Collapse this transcript |
| The value of email| 00:02 |
Now, of course, when we talk about
measuring different methods of online
| | 00:05 |
marketing, we can't forget about email.
Email has developed sort of a bad
| | 00:10 |
reputation and really isn't considered
sexy when it comes to marketing online,
| | 00:15 |
but we can't neglect it because people
view email differently and different
| | 00:19 |
email messages are sent.
And so we need to evaluate our email,
| | 00:25 |
just like any other form of marketing and
find where we can optimize and find
| | 00:30 |
better value in what we're doing.
When we go back to our value equation, we
| | 00:37 |
want to know how do people get to the
site, where they entered and how many of
| | 00:40 |
them did what we wanted them to do, in
order to figure out what they're worth.
| | 00:47 |
So when we look at our source, where
people came from, email fits into that.
| | 00:53 |
Now, when they come from email, we have a
number of links on that email and so we
| | 00:57 |
can determine which page they enter.
For example, the logo in a typical email
| | 01:03 |
will link to the homepage.
However, the links in your email which
| | 01:08 |
link back to products or articles or
other information can all be tagged so
| | 01:13 |
that you know which link people click on
and where they go based on what they're
| | 01:17 |
interested in.
And so we can measure the source, measure
| | 01:23 |
where they came on the website and what
they did as a result.
| | 01:29 |
Now like I said, email isn't sexy, it
suffers from three primary problems.
| | 01:34 |
Number one, it's untimely, it usually
doesn't make sense when we're getting a
| | 01:38 |
specific email.
Number two, it's not personal, it's the
| | 01:42 |
same email that everyone else is getting
and it may or may not be relevant to what
| | 01:46 |
you're doing right now.
So because of those three problems,
| | 01:51 |
people believe that, well, most email is
spam because even though you may have
| | 01:55 |
signed up to receive that email, if it
doesn't make sense for where you are
| | 01:59 |
right now and what you're doing it is
most likely an intrusion on your time
| | 02:03 |
rather than an invitation to participate
with that company.
| | 02:10 |
So you've got to think of email
separately as a way of building a
| | 02:14 |
relationship rather than constantly
feeding information.
| | 02:19 |
Look at email like a conversation, very
similar to social media, email is a
| | 02:24 |
channel with which to build your
clientele.
| | 02:29 |
So, do you offer personalized
communications in your email?
| | 02:34 |
Do you build relationships?
Do you customize based on segmentation?
| | 02:39 |
You see, in our analytics, we segment
people out based on what they wanted and
| | 02:43 |
what they did.
Does your email program segment your
| | 02:47 |
email messages based on how people found
you, what type of customer they are, and
| | 02:52 |
what they've expressed interest in?
So you can segment your marketing
| | 02:58 |
messages the same way you can segment
your analytics.
| | 03:02 |
And what is it that your customer does
that would promote a conversation?
| | 03:09 |
You see, when your customer is ready to
talk, they'll come visit your site,
| | 03:12 |
they'll look for information.
And so, you can develop a conversational
| | 03:16 |
event through your email and measure it
much more effectively.
| | 03:21 |
For example, if someone abandons their
cart, you can send them an email to
| | 03:25 |
remind them their cart is abandoned and
you would track that very differently
| | 03:29 |
because it's a different message than
your typical monthly marketing email.
| | 03:36 |
This is an action, it's a conversational
event, you're reminding someone to come
| | 03:40 |
back to the website and complete a
transaction and so it's a completely
| | 03:43 |
different conversation and should be
measured differently.
| | 03:48 |
If they have already purchased something,
you send a thank you email inviting them
| | 03:53 |
to look at additional products, review
the product.
| | 03:57 |
You can even add in the review as a
separate email a week or two later.
| | 04:02 |
I'm always amazed at the request to
review a product before I've even
| | 04:05 |
received it.
Make sure you've timed these things out
| | 04:09 |
so that even annually I get an email
thanking me for being a customer or a subscriber.
| | 04:15 |
These are all conversational events that
can be tracked differently and then I can
| | 04:19 |
track what are the most profitable
communication channels that I've got
| | 04:23 |
through email because each of these is a
channel, such as someone simply coming
| | 04:27 |
and browsing through the products, but
not taking any action at all.
| | 04:34 |
They're expressing an interest and what
are you going to do with it?
| | 04:39 |
And that's why you can personalize your
emails and send them out to different
| | 04:43 |
people based on, what have they expressed
an interest in?
| | 04:48 |
What type of customer are they?
What type of products have they purchased
| | 04:51 |
before or what type of content do they
read?
| | 04:54 |
And you can see that a different email
that's personalized to you based on your
| | 04:58 |
interest, it's not going to be as
intrusive as a typical monthly marketing
| | 05:03 |
email that everyone gets.
So in developing tracking for email, what
| | 05:10 |
I like to do is break down every quote
unquote channel of email.
| | 05:15 |
You see, each of these is a different
means of communication.
| | 05:19 |
A cart abandonment email is very
different from an invitation to review
| | 05:23 |
the product.
That's very different from a browse email
| | 05:27 |
or a thank you email or a reminder to
reorder.
| | 05:31 |
This company started sending out emails
that were triggered based on reordering
| | 05:37 |
and reminding 30 days out to order
another 30 day supply or a 60 day supply.
| | 05:45 |
They sent out 744 triggered emails,
received eight orders, which is a
| | 05:49 |
conversion rate of a little over 1%.
Based on the amount of names that were
| | 05:55 |
sent in emails, they made $0.63 per name
and if you know anything about email,
| | 06:00 |
it's pennies for email or less and so,
the return on that investment is
| | 06:04 |
extremely high.
Now the next month they added reviews, so
| | 06:12 |
if you had purchased a product you are
now getting an invitation to review that
| | 06:15 |
product a week or two later.
They ran that also with the reorder
| | 06:20 |
reminder, but as you can see out of
almost 5,000 review emails they received
| | 06:25 |
25 orders, a response rate of about half
a percent which is great.
| | 06:32 |
Month four, they added cart abandonment
emails, they added everything else such
| | 06:38 |
as thank you emails, browse emails,
reorder reminders, reactivations.
| | 06:45 |
They had a response rate, overall, of
over 1% and $0.75 per email.
| | 06:53 |
And as you can see, the response rate
was very different based on which message.
| | 06:59 |
Almost a 5% conversion rate for cart
abandonment, the first email.
| | 07:04 |
The browse campaign, even though almost
9,000 emails went out, it only resulted
| | 07:10 |
in three orders, a 0.3% response rate.
But then again the reorder reminder,
| | 07:16 |
great response there with over 1.5%
responding.
| | 07:22 |
Now month six, they've been able to test
and apply different things they've learned.
| | 07:27 |
The browse campaign has gone up
significantly.
| | 07:30 |
The amount of browse emails has gone
down, the amount of orders gone up
| | 07:34 |
because they've been able to test the
message that went out in that campaign.
| | 07:40 |
It has produced quite a bit of revenue
and also the amount per name is a great
| | 07:44 |
return on investment.
Measuring email also enables you to see
| | 07:51 |
which messages are getting response from
your customers and enabling them to carry
| | 07:57 |
on a clear conversation with you based on
the channel that they are initiating.
| | 08:05 |
So the value of email, make sure that you
segment your customers, your offers and
| | 08:09 |
your responses and you measure according
to the segments that you create.
| | 08:14 |
You can personalize your communications,
which in turn makes it relevant, timely
| | 08:20 |
and triggered based on the conversation
that people initiate with you.
| | 08:28 |
Measure the results.
Don't just measure email as one activity,
| | 08:32 |
measure all your email activity as
separate channels and separate campaigns
| | 08:37 |
within that channel and you'll be
surprised at which emails or which
| | 08:41 |
campaigns are more profitable than
others.
| | 08:47 |
| | Collapse this transcript |
|
|
7. Creating Valuable ReportsReplacing ranking reports| 00:02 |
Now that we're learning so much more
about value and understanding how words,
| | 00:06 |
your content, your landing pages, your
search phrases, all these things come in
| | 00:11 |
to understanding a better idea of what
people are looking for.
| | 00:17 |
By now, you should understand that your
ranking reports do a very poor job of
| | 00:21 |
showing how well your search engine
optimization is actually doing.
| | 00:26 |
The best thing you can do is to replace
you're ranking reports with analytics
| | 00:31 |
reports that focus on the value of the
words.
| | 00:37 |
Ranking reports are extinct for a number
of reasons.
| | 00:40 |
Number one, they have no context.
You don't know what is being compared.
| | 00:45 |
Other companies, other words, other
landing pages.
| | 00:50 |
You're not really sure what this is in
reference to.
| | 00:52 |
Now some ranking reports may also include
estimated traffic levels, how many clicks
| | 00:59 |
that were actually made from that
ranking, to the website.
| | 01:06 |
You see, when you don't have anything as
far as expected traffic or actual
| | 01:10 |
traffic, along with the rankings, you
don't know what else is happening.
| | 01:16 |
There are many regional variations that
you can rank very well in the city which
| | 01:20 |
you do business in, but not outside that
regional area.
| | 01:25 |
There's always that top funnel approach,
that these are the words that are top of
| | 01:29 |
mind, but you're not actually tracking
words that are bringing people to the site.
| | 01:35 |
And so you're always focused on the
primary words, the big words, rather than
| | 01:40 |
the words that are doing the work.
And of course, your ranking reports are
| | 01:46 |
not directly tied to revenue.
And because they're not tied to revenue,
| | 01:50 |
you can't get a clear return on your
investment, and you can't show, clearly,
| | 01:54 |
the results of your actions.
You see we can look at a report, and this
| | 01:59 |
is off of the Bing search engine, in the
webmaster tools you can see how many
| | 02:03 |
clicks you receive from search.
How many times your listing appeared in
| | 02:10 |
search results.
What the click through rate is.
| | 02:13 |
And the average search position.
Now, that's a little more context than
| | 02:17 |
most search reports will show, but I want
to go far beyond that.
| | 02:21 |
The first thing that I want to look at is
revenue.
| | 02:24 |
We've been talking about revenue this
entire time, because revenue is
| | 02:28 |
foundational to understanding how well
you're doing in analytics.
| | 02:33 |
And so one of the first reports that I
look for is a keyword analysis by revenue.
| | 02:38 |
I want to see how much revenue was
generated by each keyword.
| | 02:44 |
And so in this report here, I can see
that most of my revenue was generated by
| | 02:48 |
people searching for the word, dog
blankets.
| | 02:53 |
It has a high per-visit value.
The revenue was about $1,200, and a
| | 02:57 |
conversion rate of almost 2%.
However, if you look two down from there,
| | 03:01 |
there is a brand name horse blanket.
There were only three transactions,
| | 03:06 |
however the revenue was over $500.
So that's a per-visit value of $23, one
| | 03:11 |
of the highest that we've got, and a
conversion rate of 13%.
| | 03:16 |
You see, this report here will show you
which words are generating value, rather
| | 03:22 |
than simply looking at where they rank.
So change your report.
| | 03:28 |
Focus on what's important.
Group your keywords by common intent.
| | 03:34 |
Compare the entry pages.
Make sure that those are the right pages
| | 03:38 |
for the intent of the searcher.
Track the engagement.
| | 03:42 |
Which pages bounce them out?
Which pages lead them in?
| | 03:46 |
Focus on building a report that shows a
contextual understanding of what the
| | 03:51 |
searcher looked for, what their options
were, what they saw, how many clicked
| | 03:56 |
through to your site, and what they did
as a result.
| | 04:02 |
And include revenue, as that will
transform your ranking report into an
| | 04:07 |
actual business report that you can use
to make clear decisions on which words
| | 04:11 |
are the most important words for your
attention.
| | 04:18 |
Now when we look at keyword reports that
include the keyword, the rank, the
| | 04:23 |
landing page, the number of visits, and
Google's average monthly searches.
| | 04:29 |
This is a report that adds a little more
context.
| | 04:32 |
It's from a company called Linkdex.
And it provides much more context around
| | 04:39 |
the ranking report.
And what we've done is segmented all of
| | 04:43 |
the keywords so that we can get a look at
these common keywords and see our average
| | 04:48 |
rank for this keyword family.
We can then look at the analytics and see
| | 04:54 |
that we've got a per-visit goal value of
about $4.
| | 04:59 |
That tells me we're doing well, because
we're averaging about $4 a visit, and
| | 05:03 |
that all of our rankings are between one
and ten, and so we're doing very well.
| | 05:09 |
There's not a whole lot you can do to
increase your rankings, and you've got
| | 05:12 |
good value.
So you want to go beyond measuring
| | 05:15 |
rankings and measure your content.
Compare the value to see how you're doing.
| | 05:21 |
Look at the overall rankings of a family
of key words.
| | 05:25 |
Look at the value of each, and then the
conversion rate and per-visit value of
| | 05:30 |
that group.
This will help you identify opportunities
| | 05:34 |
and problems, when you start comparing
your groups to see which ones are
| | 05:37 |
performing well, which ones are
performing poorly.
| | 05:41 |
Be aware of singular and plural words.
These are the tricky parts of search
| | 05:46 |
engine optimization, but it usually can
be answered in your analytics when you
| | 05:50 |
find that singular words are most likely
producing more value than plural words.
| | 05:57 |
Look in your analytics and find out what
the differences are.
| | 06:02 |
Remember, measure by value, not rankings,
and you'll see a dramatic impact in your business.
| | 06:09 |
| | Collapse this transcript |
| CEO reports| 00:02 |
When presenting information and reporting
analytics, it's very important to know
| | 00:06 |
who you are reporting to.
If you're reporting to the CEO or any
| | 00:11 |
C-level executive, it's important to
prepare and to have the relevant
| | 00:16 |
information that they are going to be
interested in.
| | 00:22 |
Giving too much information and too much
detail might take too much of their time,
| | 00:27 |
and you might lose their interest.
That's the worst thing you can do as an analyst.
| | 00:33 |
Customize your reports.
In order to communicate effectively to
| | 00:37 |
the C level group, you need to make sure
that you have different reports for
| | 00:42 |
different people depending upon their
areas of responsibility, you need to make
| | 00:47 |
sure that you are reporting to their
areas.
| | 00:53 |
Look at the needs.
What needs to happen on the website in
| | 00:56 |
order to improve the marketing
capabilities?
| | 01:00 |
Are there any holes?
Is there tracking?
| | 01:03 |
Is it complete?
What can be done to improve conversions?
| | 01:08 |
Go in there with your information, but
also make sure your information points to
| | 01:12 |
a specific objective.
What needs to happen?
| | 01:16 |
In order to engage people and keep them
interested in analytics, you first need
| | 01:21 |
to make a proposition of what needs to
change or be improved.
| | 01:27 |
Or can be enhanced by the website.
Then you bring information to back up
| | 01:31 |
your claim, and then allow them to make
the decision.
| | 01:35 |
Communicate the essentials that they will
need in order to make that decision, and
| | 01:39 |
make sure that you have the detail
available, and that it's provided to
| | 01:43 |
those people who will need it or ask for
it.
| | 01:48 |
Give the facts but be ready with the
details.
| | 01:53 |
The first thing I will give for the CEO
report, or the C level report, is what's
| | 01:56 |
called the channel report.
For the channel report, we are looking at
| | 02:01 |
all the different areas through which we
are marketing our online presence.
| | 02:06 |
Organic or SEO, pay per click.
Referrals of people clicking links from
| | 02:10 |
other websites back to us, and that could
also be social media included in the
| | 02:14 |
referral marketing.
Email marketing, direct marketing,
| | 02:19 |
display ads, and, if you're an e-commerce
site, you can put a shopping feed in this
| | 02:23 |
as well.
What I'm interested to show a CEO here,
| | 02:27 |
is the amount of visitors that were
generated from each channel, the amount
| | 02:31 |
of revenue that was generated from each
channel, and the per visit value.
| | 02:37 |
Those are the three biggest areas that I
focus on.
| | 02:40 |
Because number one, we're looking at
sheer numbers.
| | 02:44 |
Based on how much you spend in each
medium could determine, in large part,
| | 02:48 |
why certain visitors are there.
Organic is typically going to be your
| | 02:53 |
highest, if you have an active search
engine optimization program.
| | 02:57 |
Next, I'm concerned about revenue,
because revenue is going to justify the visitors.
| | 03:03 |
Where I have my highest amount of
visitors, I also have my highest amount
| | 03:06 |
of revenue.
Which means that, that is producing a
| | 03:10 |
good value.
But also revenue, in terms of visitors.
| | 03:14 |
When I look at my per visit value, it may
show some areas where I can invest more,
| | 03:19 |
in order to provide better results.
For example, my email had 49,000 visitors.
| | 03:27 |
It produced $49,000 in revenue and a per
visit value of $1.72, which is one of the
| | 03:32 |
highest per visit values of all my
channels except for my shopping feed.
| | 03:40 |
That means that I could put more money
into this.
| | 03:43 |
It's a highly profitable channel and we
could grow this and because we know we
| | 03:48 |
are already profitable at that rate.
So looking overall at the channels and
| | 03:55 |
comparing and contrasting the visitors,
revenue, and per visit value can provide
| | 04:00 |
a unique insight into the big picture of
how the company is marketing itself.
| | 04:08 |
Then I focus specifically on the
conversion points.
| | 04:12 |
While looking at the channels can give us
the performance level of each individual
| | 04:16 |
channel, looking at the conversions can
show us more behavioral based analysis of
| | 04:20 |
what's happening on the website.
We can see which specific goals are
| | 04:26 |
performing well, and then also
contrasting that to the previous
| | 04:29 |
reporting period.
So we can see what's going up, what's
| | 04:33 |
going down, and then don't forget to add
your value, and that is the bottom line
| | 04:37 |
dollar of how much money was made in the
past period.
| | 04:42 |
Every once in a while, for the CEO
report, I like to put in what I call a
| | 04:45 |
gold nugget, and that's something that we
found through research.
| | 04:49 |
For example, here, we found that one
word, which was the primary keyword in
| | 04:54 |
the SEO campaign, was only bringing in
$4.30 cents worth of per visit value.
| | 05:00 |
However, we found a long tail keyword,
that's the primary keyword with some
| | 05:04 |
additional words built in.
We get a lot of visitors with that long
| | 05:09 |
tail keyword and the people that found
the site for that word, were worth $18 a visit.
| | 05:15 |
That's a gold nugget because what that
does, is it significantly changes our
| | 05:19 |
search engine optimization program.
Because now we can focus on words that
| | 05:24 |
are higher revenue than other words.
That's a little gold nugget that let's
| | 05:28 |
the CEO know that you are digging deep
into the information, and that you are
| | 05:32 |
always on the lookout for higher revenue
opportunities.
| | 05:38 |
So when you're developing your CEO
reports, focus on your facts.
| | 05:42 |
Make sure you show comparisons, maybe to
competitors, but also progress.
| | 05:47 |
Comparisons to previous time frames,
comparisons from quarter one this year to
| | 05:51 |
quarter one last year.
Don't just do month-to-month comparisons,
| | 05:56 |
because there's always a trend and you'll
miss big picture information.
| | 06:01 |
Highlight big wins or insights or those
gold nuggets.
| | 06:05 |
Make sure everything is simple and to the
point and keep the detail in the
| | 06:11 |
briefcase until someone asks for it.
| | 06:15 |
| | Collapse this transcript |
| Manager reports| 00:02 |
The next level of reporting, are to brand
or product managers, or to managers that
| | 00:06 |
are responsible for different areas of
marketing or the website, or the business.
| | 00:13 |
For manager reports, it's important to
know who you're reporting to, and what
| | 00:17 |
information is specific to their area of
responsibility.
| | 00:22 |
Brand managers are going to be interested
in brand reports, product managers are
| | 00:25 |
going to be interested in product
reports.
| | 00:28 |
So, maintain their attention and maintain
their respect by giving them the
| | 00:32 |
information that they need to make
decisions for their area.
| | 00:38 |
Show opportunities that you have found,
that can enable them to do their jobs
| | 00:41 |
better, that can enable them to show
higher sales or higher conversions, that
| | 00:45 |
can enable them to position their
products or information more effectively online.
| | 00:52 |
Sometimes you may be called upon to be
the mediator between product managers or
| | 00:56 |
editorial or different groups within the
business that are vying for space online,
| | 01:01 |
whether it's on the homepage or certain
pages of the website.
| | 01:07 |
You can show which areas are more
profitable, which areas get more
| | 01:11 |
interaction from customers, and provide
clear, fact based information that allow
| | 01:15 |
people to make better decisions.
Make your case when you show these
| | 01:21 |
opportunities about how you can draw
these conclusions, and show that there
| | 01:25 |
will be an increase based on what you're
recommending.
| | 01:30 |
Now again, we start with the channel
report which we gave the CEO's because
| | 01:34 |
this helps to break down where our most
valuable visits are coming from, and the
| | 01:37 |
revenue that is developed by each
channel.
| | 01:42 |
But then we bring it down specifically,
if we are looking at, let's say the
| | 01:46 |
search engine optimization manager, the
person that's responsible for the search
| | 01:50 |
engine optimization campaign, and showing
results based on that.
| | 01:57 |
We break down the search engine
optimization by keyword segments.
| | 02:01 |
The keyword family groups that are
specific, such as a core term, and then
| | 02:06 |
other related terms in that core term.
We break down the conversion rate by each
| | 02:13 |
of those keyword segments and then show
some behavioral information; such as,
| | 02:17 |
bounce rate, conversion rate and then
some financial information; such as, the
| | 02:21 |
value per visitor.
The profit margin to the company for
| | 02:27 |
those conversions, and then the average
ranking of those keyword family groups,
| | 02:31 |
and then what's the action plan?
Is it good or is it bad or what's the
| | 02:37 |
difference here?
You see, if we look at segment number
| | 02:41 |
one, we've got a 5% conversion rate.
35% bounce rate, which is fairly low.
| | 02:47 |
The conversion rates fairly high.
$4 per visitor.
| | 02:51 |
And an average profit margin of 35% and
that segment has an average ranking of
| | 02:56 |
about four.
You see, we're looking at probably 30 or
| | 03:01 |
40 words within that keyword segment and
if we have an average ranking of four,
| | 03:05 |
there's not a whole lot you can do to
improve that segment.
| | 03:10 |
However, in segment number two, we have a
4% conversion rate, 38% bounce rate.
| | 03:16 |
A higher dollar per visitor value, a
higher profit margin, and lower rankings.
| | 03:23 |
So immediately we know right there in an
segment that we are doing well if we
| | 03:27 |
improve the rankings we can improve the
sales.
| | 03:31 |
In segment number five, we have a very
low conversion rate, a very high bounce
| | 03:36 |
rate, a low value per visitor, but also
the lowest profit margin of any of the segments.
| | 03:44 |
So there's low value, low conversion, and
we've got some pretty good ranking so
| | 03:49 |
again there's not a lot to be done there
and also I wouldn't put this segment at
| | 03:53 |
the top of my list to work on because its
a low profit margin and there's not a lot
| | 03:57 |
of opportunity for growth.
Segment number six has a 40% margin, and
| | 04:06 |
an average ranking of 15 for a high
conversion rate.
| | 04:10 |
That tells me there is a great
opportunity for growth.
| | 04:13 |
And that segment number six should be the
top of my list in order to improve the rankings.
| | 04:19 |
Segment number two should be the next on
my list to improve rankings and to
| | 04:23 |
improve the conversion rate.
This is my plan to give to the SEO
| | 04:29 |
manager, so that they can direct the
marketing of the site, and direct the
| | 04:33 |
search engine optimization.
For a pay-per-click manager, what I want
| | 04:39 |
to do is break down how much money we are
getting in return, for every dollar
| | 04:43 |
that's spent.
For this company, we found that, for
| | 04:48 |
every dollar that was spent in their
first quarter of paper clip marketing,
| | 04:51 |
they only receive 23 cents in revenue.
Now they made changes in second quarter
| | 04:57 |
and improved it significantly for every
dollar that was spent they received 71
| | 05:01 |
cents in revenue.
They were able to improve that in 4th
| | 05:05 |
quarter up to 92 cents in revenue per
dollar spent but it was still a losing proposition.
| | 05:10 |
In organic marketing, the SEO program,
for every dollar that was spent, they
| | 05:16 |
were making between $3 and $5 in revenue.
That's the equation that we look for in
| | 05:22 |
analytics, to know dollar for dollar, how
much are we spending, to how much are we making.
| | 05:28 |
And it will immediately tell you the
value of each channel and the value of
| | 05:31 |
each campaign that you're running.
This is from an analytics program called
| | 05:37 |
AT Internet which allows me to break down
new customers, returning customers, and
| | 05:41 |
then I can look specifically at sales.
Sales, number of orders in sales,
| | 05:47 |
shipping fees, tax, discounts, product
promotions.
| | 05:52 |
I can screen out or see all of the
information that I want to see.
| | 05:56 |
So for an e-commerce manager this is very
valuable information, to know for a
| | 06:00 |
certain time period how many new
visitors, returning visitors, how many
| | 06:04 |
used promotions, how many used discounts.
and what were the total amount of sales,
| | 06:10 |
and revenue, and taxes, and everything
that was collected in order to better
| | 06:14 |
build a report, for them to provide.
In addition, we can look specifically at
| | 06:20 |
a product report to see, for this time
period, how many visits did we have, how
| | 06:24 |
many conversions, Compared to the last
time period.
| | 06:28 |
What's the conversion rate, and the
variation to the last time period.
| | 06:32 |
And the total number of sales.
Jutst by looking at these numbers, and
| | 06:36 |
looking at the promotions that were going
on, on this site, can help you understand
| | 06:40 |
which promotions are working or not
working, by looking at the variations
| | 06:43 |
from tyhe latest time periods.
When you're reporting to the management
| | 06:50 |
level make sure that you report the
information according to their goals and
| | 06:53 |
what they want to accomplish.
That means its important to talk to those
| | 06:57 |
managers and find out what kind of
information they need.
| | 07:01 |
But also it's up to you to show them some
of the information, because some managers
| | 07:05 |
may not even be aware of the type of
information you can produce in analytics.
| | 07:11 |
So you both need to ask questions.
And you need to provide reports
| | 07:15 |
ultimately that tie everything to
revenue.
| | 07:19 |
And finally give people the knowledge
they need to get better.
| | 07:24 |
You are a resource and you're providing
resourceful information that allow people
| | 07:28 |
to make better decisions about their role
in the company and how to make the
| | 07:32 |
company more money.
| | 07:35 |
| | Collapse this transcript |
| Action reports| 00:00 |
Now action reports could be used at any
level of reporting.
| | 00:05 |
They could be used at the C level, the
manager, level, or, if you're responsible
| | 00:10 |
for everything, or have a role in
reporting to multiple people in the
| | 00:14 |
organization, action reports are all
about knowing what to do and why.
| | 00:21 |
I love action reports because they detail
what's going on, what needs to be changed
| | 00:26 |
and are specific about the actions or the
pages or words or anything else that
| | 00:31 |
needs to take place in order to improve
the customer's experience and the revenue
| | 00:35 |
of the web site.
They're all about the day-to-day activities.
| | 00:42 |
What can people be working on that can
make an immediate improvement on the website?
| | 00:47 |
They also provide direction for ongoing
campaigns in feedback, if things are
| | 00:51 |
going well, and also any adjustments that
need to take place.
| | 00:57 |
When we're looking at keyword groups, as
you've figured out by now, I like to look
| | 01:01 |
at the goal conversion rate and the
per-visit goal value for this keyword family.
| | 01:07 |
This lets me know for this keyword
family, this keyword segment, we're doing
| | 01:11 |
fairly well in the conversion rate with a
high per-visit goal value.
| | 01:16 |
So I go look at another keyword family to
see what's going on here.
| | 01:21 |
This is a program called Linkdex, which
allows me to see the ranking of my
| | 01:25 |
keywords, which landing page is ranking,
and then also it compares it with
| | 01:29 |
Google's average monthly searches so that
I can see the amount of visits that I
| | 01:33 |
received, and how many estimated people
are searching for that keyword on Google.
| | 01:43 |
This lets me know that even if I have a
high ranking, it could be for a word that
| | 01:46 |
doesn't get a lot of activity.
When I look at that keyword group and see
| | 01:52 |
that my conversion rate is a full point
lower, and my per visit goal value is
| | 01:55 |
about $2.00 less, I see that it's not
performing at the same rate as my other
| | 01:59 |
keyword family that I was looking at
previous.
| | 02:05 |
So, what can I do to fix that?
Well the first thing I can do is get in
| | 02:09 |
and start looking at the keywords, and
one of the things that was noticeable in
| | 02:13 |
the ranking report is my primary keyword.
At the top of the page here, my primary
| | 02:19 |
keyword was horse blanket, and I was
looking at all the keywords in the
| | 02:23 |
blanket category.
However, my primary keyword horse blanket
| | 02:28 |
and horse blankets, had an average
ranking of number 20.
| | 02:32 |
All the other keywords in that family
were high, and the keyword group that I
| | 02:35 |
compared it to earlier had an average
ranking of four.
| | 02:39 |
So this tells me right away that there
are visitors out there that are not
| | 02:44 |
coming to my site.
Google says that there's about 1,000 for
| | 02:49 |
horse blanket singular, and about 3,600
potential visitors searching for that
| | 02:53 |
keyword on Google.
However, I only received a few in this
| | 02:58 |
time period.
One of the things that's interesting,
| | 03:02 |
though, is when you compare words,
singular to plural, they each will carry
| | 03:06 |
with them a very different behavioral
aspect.
| | 03:11 |
You see, when we look at horse blankets
plural, we have about 500 visitors.
| | 03:15 |
At half a percent conversion rate.
Which makes it a per visit goal value of $0.67.
| | 03:23 |
Horse blanket singular brought in
significantly less people but at a higher
| | 03:28 |
conversion rate, four and a half percent.
And that resulted in a $5 per visit goal value.
| | 03:36 |
Now, it was about the same amount of
sales were generated by each word.
| | 03:42 |
But one word has a higher goal value
because we receive less visits but more conversions.
| | 03:48 |
The other word will attract more people
to the site but produce less value.
| | 03:55 |
So it's all about what you are trying to
accomplish with your website.
| | 04:00 |
People that tend to be looking for the
singular version of these words tend to
| | 04:04 |
be buyers.
People that look for the plural version
| | 04:08 |
tend to be shoppers.
I want both, but knowing that the
| | 04:11 |
singular version is most likely going to
produce more conversions, whereas the
| | 04:15 |
plural version will bring more people to
my site.
| | 04:20 |
So it's good to help build those
expectations and to compare where it's
| | 04:23 |
like that on your site.
Let's go back to the segment report that
| | 04:28 |
we looked at in an earlier module.
This helps me, from a search engine
| | 04:32 |
optimization standpoint, know where to
spend my time first in order to get the
| | 04:37 |
most revenue for my actions.
I build on this report to know what the
| | 04:44 |
profitability is.
I want to know what the profit level is
| | 04:48 |
for each medium, as well as just the
revenue and the per visit value.
| | 04:54 |
I can do that by adding in the marketing
cost so I know how much the company is
| | 04:58 |
spending on marketing in that time
period, look at it against the revenue
| | 05:02 |
produced and know which channels are more
profitable than others.
| | 05:09 |
I can then make good decisions as far as
how to grow more profit, especially if
| | 05:14 |
there's opportunity available.
For example, email was one of my higher
| | 05:20 |
profit activities.
Based on the amount that was spent, and
| | 05:24 |
the amount that was produced in revenue,
that's a significantly high amount of
| | 05:28 |
profit, and we can continue to grow that.
For search engine optimization in the
| | 05:33 |
organic channel, we may be at the top of
the visitors that we can get for this site.
| | 05:39 |
However, it's a high profit activity, and
we know that we can grow it.
| | 05:42 |
Now, building even more on profit, now
that we know our marketing cost, we know
| | 05:47 |
our revenue, and we know what was
produced, we can add another column.
| | 05:53 |
So in the segment profitability report,
we look at the revenue for each channel
| | 05:58 |
and the profit.
Then we move on and we look at what I
| | 06:03 |
like to call the ROI equation.
The ROI equation takes the marketing
| | 06:09 |
cost, divides it into the revenue, and
looks at the profit that was available.
| | 06:15 |
And now I know for every dollar I spend,
what am I getting in return?
| | 06:20 |
For every dollar I spend in SEO and
organic marketing, I'm getting $13 in revenue.
| | 06:27 |
For every dollar that I spend in e-mail,
I'm getting $20 in revenue.
| | 06:32 |
For every dollar I spend in shopping
search, I'm getting five in revenue.
| | 06:36 |
This is a healthy way of evaluating in
very clear terms, and understandable
| | 06:40 |
terms, for everyone in the organization
how you can better budget your marketing
| | 06:45 |
based on the analytics and the value of
measuring everything that's happening in
| | 06:50 |
your analytics for your business.
So in the action reports, the most
| | 06:58 |
important thing is knowing what is the
best use of your time.
| | 07:02 |
Spend it in the most profitable areas.
Improve the obvious areas that show the
| | 07:07 |
most potential first and then, move down
into areas that are going to be difficult
| | 07:11 |
to deal with and determine why they are a
problem.
| | 07:16 |
Look for the quickest and most profitable
areas to spend your time.
| | 07:20 |
The quick fixes, the low hanging fruit,
spend your time there, and work where you
| | 07:25 |
know you're going to make money because
you're already making money.
| | 07:30 |
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