Join Matt Bailey for an in-depth discussion in this video The value of words, part of Learning Web Analytics (2013).
Now beyond simply looking at keywords, content, and SEO, I want to look specifically at the value of individual words. Many times when we evaluate our search rankings, we look at them in terms of which words are ranking number one, and we consider that a measure of success. However, what most people don't do is look at the keywords that are not only driving traffic to the site, but the words that generate a significant amount of value to the business. It's entirely possible to have thousands of words ranking number one, or in the top ten in the search engines, but losing money.
You need to be sure that you are ranking for the right words, and the words that carry value and provide revenue for your business. That's where looking beyond the ranking report and using analytics to determine did people find what they were looking for and what searches are more valuable than others. You see when we look at some case studies we typically find these types of gold mines when it comes to words.
You see in this case we're looking overall the average aggregate numbers that there's a 0.2% conversion rate. That's not a lot. There's also another thank you form that's only getting a 0.7% conversion rate. Then there's the goal conversion rate, which is getting about 2.3% and a per visit goal value of $2.74. That means that every visitor that comes to that site is providing $2.74 on average.
Now, because it's an average, we know that it's made up with people bringing a lot more value and people bringing a lot less. So we want to break apart this per visit goal value because we know some goals are worth more than others. When we broke it down, we found that a very detailed key word phrase, which we called the long tail keyword. It's typically our key phrase with a few other words mixed in, but what that does is show how detailed the search word is. Now when we compare that to the primary keyword of that keyword group, that is the big bucket keyword, the big bucket keyword was worth $4.30 a visit. In other words, everyone who used that primary keyword when they came to the site, and those that converted, of all the value that was generated, it breaks down to $4.30 per visit for that primary keyword.
The long-tailed keyword generated nearly $19 of value per visit. And so this word should demand your time and your attention because it is five times as much value than the primary keyword. And so your search engine optimization campaign and work needs to evaluate and find which words carry more value per visit than other words.
Because it won't matter which word ranks number one if you're not ranking number one or have a top ranking for high value keywords that generate business. The quickest path to success and increasing your revenue is finding those words that are worth much more than other words and building those up first. This will allow you to work on the next level of words that may not be worth near as much in value, but can then be built up. In this way, you are prioritizing your work on the most revenue producing, hopefully profit producing words, first, then moving towards lower value words later.
You see even when we take an even more complicated report, we're looking at a number of goals, we're looking at the keyword, the landing page, the goal conversion rate and the per visit goal value. And looking at all the keywords that provide visitors to this website. It became apparently clear that one keyword generates visits worth $0.18 a visit. And the other keyword generates almost $7 a visit. Which keyword are you going to focus your time and attention on in order to maximize the revenue for your efforts? It becomes abundantly clear the more you dig into analytics and see the value of individual words.
What individual words give us is searcher intent. We can see what the searcher wants, we can go back and look at the landing page, and we can see the value that was generated based on that. But overall, what we don't want to lose is the intent of the searcher and looking at their visit from their viewpoint. We also want to compare the performance of these keywords, even though they may even have the same base word, there may be additional words that clarify the intent and also show a significant difference in the value of that visit. Always go back and look at your search engine optimization campaign goals and make sure that your optimization lines up by focusing on words that have the highest revenue rather than ones that are just simply easiest to get a number one ranking for.
And finally, it's all about value. Focus on understanding which words create high-value visits and you'll be very successful in no time at all.
- Defining analytics terminology
- The problem of numbers
- Building segments for comparison
- Finding value in your marketing
- Creating valuable reports