7 Point Online Measurement Strategy
1. Install Analytics onto your Website
This is non-negotiable – just do it. See Google Analytics.
2. Generate Customised Reports
Ensure that different departments or people within your organisation are receiving periodic analytics reports which enable them to make informed decisions on how to extract more value from your website and peripheral online marketing activities.
Constant evaluation should be undertaken on the usability of the website, campaign conversion rates, campaign ROI, and search engine visibility.
3. Establish & Track ‘Conversion Goals’
A conversion goal is any measurable action of value which can be undertaken through your website. For e-commerce websites a typical goal would be the gross or net value of a completed transaction. Conversion goals are precise indicators of which traffic sources (or campaigns) are generating the best outcomes, and by extension the best returns on investment. Conversion goals don’t have to be financial; non-financial examples include a person signing up for a newsletter, filling in a contact form, downloading a store coupon, or filling in a survey.
4. Assign Values to all Conversion Goals & Calculate ROI
In the instance of non-financial conversion goals, assign an internal monetary value instead. For example, $80 might be considered a fair value exchange for a qualified lead (usually generated through a 'register your interest' submission box). If all goals are assigned a monetary value in this way, it makes it possible to calculate the ROI for each campaign; or put another way, the money spent on a specific campaign can be compared against the financial value of the accumulative goals which are directly attributable to the campaign.
5. Compare Timeframes
Compare traffic and conversion activity across different timeframes to determine the positive or negative effect of specific changes which took place between those periods. What happens for example when a new special is highlighted on the homepage; or if a discount coupon is offered at the start of the checkout process instead of at the end?
6. Track Offline Marketing Activity
When running offline campaigns attempt to make any call to action back to your website measurable. One way of achieving this is to display a different URL on the collective marketing collateral of each campaign and then have those URL's automatically redirect back through to your website. Referral traffic is easily broken down by individual URL source, and by extension the specific offline campaign activity which generated the referral.
7. Deploy Stand-alone Campaign Pages
Campaign pages are similar to the above idea, except that the visitor lands on a standalone page that has been set-up specifically for a campaign, and not redirected back to the website. In addition to isolating and tracking campaign specific traffic, standalone pages can be made visible only to the specific target segments. This is also a good technique for sample testing, differential pricing and customising campaign content by segment.
Want to Know More? Attend a NET:101 Internet Marketing & Social Media Workshop.
