How to develop actionable web analytics KPI's
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Session with Hyper Island students in Stockholm. This presentation goes through how to develop meaningfull KPI's in web analytics world.
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How to develop actionable web analytics KPI's
- 1. Beyond visits and clicks... Or how to develop actionable KPI’s Antoaneta Nikolaeva @outfox_sweden 1
- 3. Agenda •Web analytics and KPI’s •What is a KPI and how do we define it? •Some KPI measurement failures and how to avoid them •KPI presentation techniques 3
- 4. Just to make it clear ... 4
- 5. Why web analytics and KPI’s? Website objective Visitor behavior 5
- 6. Website objective Visitor behavior Conversion Why web analytics and website KPI’s? Use KPI’s to understand how well you are doing against your website objectives 6
- 7. The Web Analytics Process Understand business objectives Web analytics Why?%What?%Who?% Define%KPI:s%% Configure)your)web) analy/cs)solu/on) Start%tes(ng% Implement(a(web( analy-cs(solu-on(( Con$nuously)follow)and) analyze)your)KPI:s) Validate(your( implementa0on( KPI process Con$nuous'improvement' 7
- 8. The KPI Process Define%your%KPI:s% Define%your%website%objec5ves% How does this reflect the web?! Mission and vision! 8
- 9. Some questions to ask your clients What business objectives and goals do you have, regardless of channel? Which goal is the most important? What business questions do you want answered? How do you use the web as a tool for achieving your business objectives? What is your strategy for achieving your goals? What do you know about your target audiences? What are your major challenges? 9
- 10. The SMARTASSED KPI development framework * work in progress 10
- 11. Specific: Definition and calculation Meaningful: Does it impact revenue, cost, satisfaction? Actionable: Is it achievable? What is the criteria for achieving the goal? Responsible: Does it have a clear ownership? Trendable: Is it comparable over time? Can it be trended? Agreed: Is it agreed by the organization/client? Segmentable: Can it be segmented for further analysis? Sources: Which are the sources of data - GA, E-mail service, database..? Expectations: Are assumptions and expectations a factor? Driving: Does it drive the organization forward? How do we accomplish it? 11
- 13. Acquisition rate (political party website) 13
- 14. Cost per lead (B2B websites) 14
- 15. Inspire-to-buy ratio (e-commerce product websites) 15
- 16. Common failures & how to avoid them 16
- 17. KPI’s vs Metrics A KPI is a metric but a metric is not necessarily a KPI! 17
- 18. Nice to know vs need to know Average time on site Number of clicks on our Adwords Page views E-mails sent Visits 18
- 19. ? Don’t mix up your data! Without visits to mobile site 2.8% Mother’s day gift donations 19
- 20. Get to know your visitors Ask the right questions Be short Be concise 20
- 21. Read more about Operation Smile Find opportunities to volunteer Read more about donations and maybe donate Make a donation Other 0% 10% 20% 30% 40% 35% 34% 16% 11% 4% Everybody is not your audience 21
- 22. Define Your Target! 0% 4% 8% 11% 15% 2% 11% Conversion rate for donations Visits with the intention to donate 22
- 24. 24
- 25. Don’t get stuck on reporting! Dare to Take Action! 25
- 26. ✓KPI’s should be derived from organizational objectives and goals ✓Measure what matters ✓Act 26