7 Rules for Keeping Web Analytics Relatively Simple
Okay, let's be honest, 6 out of 10 web sites fail miserably according to a published Forrester report way back in 2003. Not surprisingly, some things change while others remain the same.
The unfortunate part about web site management is that Web sites fail.
But web sites often fail because they are simply mismanaged. Even after 10 years, there's still a lack of understanding around the channel.
So long as conversion rates hover at 2.5% there's still a lot of stars to be earned. Site managers still can't readily identify key performance metrics on their site.
Are you recovering from your 3rd redesign in two years?
Sorry to say it, but you aren't managing your business. Don't feel too bad though you are in the majority.
You can prevent this from occurring by simply focusing on Optimization in '08. Stop recovering! Stop building!
Getting More Out of Your Website through Website Optimization and Conversion
Let's define Web Site Optimization as the framework for identifying, analyzing and correcting potential problem areas on your site.
The smart site manager restricts these "problem areas" to activities that either generate profits or reduce spend, i.e improve the percentage of completed forms, increasing the number of site registrations, decreasing home page abandonment, or increasing the number of newsletter subscriptions.
Creating a Better Framework for Managing Your Website
It was really less than a decade ago, that logfile analysis was the only way to manage web sites, but in fact, most logfile analyzers were developed to measure server activity, not business performance.
Web analytics has changed how we measure the online business, creating new opportunities to better understand customer interactions.
If you really want success. Define it. Then work towards it.
Below, I've outlined what may be considered a framework for better managing and optimizing your site.
Rule 1 Prioritization
What are you trying to optimize? Start small. Develop your objectives early so you don't waste a lot of valuable time. Prioritize those objectives around activities that provide the greatest value and where possible the least amount of effort. If you try to optimize everything, you won't accomplish anything.
Rule 2 Apply the marriage of metrics
Develop key performance metrics around what you want to improve. Its okay to use universally accepted KPIs to run your business, but eventually you'll discover those that are unique to your needs.
Rule 3 Understand Your Own Business Model.
You'd be surprised at how often site managers don't know this. There are really 4 business models; Lead Generation, Content, Commerce and Self Service. Many websites are complex hybrids of all four.
Rule 4 Establish Site Benchmarks and Set Targets
After a few weeks of collecting data and defining problem areas, you'll need an understanding of where you are, before you can determine where your business can go.
Rule 5 Change Management
All of the data and performance metrics in the world won't help you if you don't take action. Don't let the sheer volume of reports you can run be your only success metric. Be aggressive. Stay focused.
Rule 6 Get the Right Web Reporting Tools for the job.
Find the right tools for the right job. There are many site management tools with strengths and weaknesses. Look to acquire those tools that truly fit your understanding of the business.
Rule 7 Hire Experienced Talent
Hire smart. They won't come cheap. Experienced analysts can generate salaries north of 100,000.
Look for web analytic professionals to measure and manage your site with at least 3 to 5 years of experience. Ideally, that person should be as familiar with reporting tools as he or she is with managing projects.
The unfortunate part about web site management is that Web sites fail.
But web sites often fail because they are simply mismanaged. Even after 10 years, there's still a lack of understanding around the channel.
So long as conversion rates hover at 2.5% there's still a lot of stars to be earned. Site managers still can't readily identify key performance metrics on their site.
Are you recovering from your 3rd redesign in two years?
Sorry to say it, but you aren't managing your business. Don't feel too bad though you are in the majority.
You can prevent this from occurring by simply focusing on Optimization in '08. Stop recovering! Stop building!
Getting More Out of Your Website through Website Optimization and Conversion
Let's define Web Site Optimization as the framework for identifying, analyzing and correcting potential problem areas on your site.
The smart site manager restricts these "problem areas" to activities that either generate profits or reduce spend, i.e improve the percentage of completed forms, increasing the number of site registrations, decreasing home page abandonment, or increasing the number of newsletter subscriptions.
Creating a Better Framework for Managing Your Website
It was really less than a decade ago, that logfile analysis was the only way to manage web sites, but in fact, most logfile analyzers were developed to measure server activity, not business performance.
Web analytics has changed how we measure the online business, creating new opportunities to better understand customer interactions.
If you really want success. Define it. Then work towards it.
Below, I've outlined what may be considered a framework for better managing and optimizing your site.
Rule 1 Prioritization
What are you trying to optimize? Start small. Develop your objectives early so you don't waste a lot of valuable time. Prioritize those objectives around activities that provide the greatest value and where possible the least amount of effort. If you try to optimize everything, you won't accomplish anything.
Rule 2 Apply the marriage of metrics
Develop key performance metrics around what you want to improve. Its okay to use universally accepted KPIs to run your business, but eventually you'll discover those that are unique to your needs.
Rule 3 Understand Your Own Business Model.
You'd be surprised at how often site managers don't know this. There are really 4 business models; Lead Generation, Content, Commerce and Self Service. Many websites are complex hybrids of all four.
Rule 4 Establish Site Benchmarks and Set Targets
After a few weeks of collecting data and defining problem areas, you'll need an understanding of where you are, before you can determine where your business can go.
Rule 5 Change Management
All of the data and performance metrics in the world won't help you if you don't take action. Don't let the sheer volume of reports you can run be your only success metric. Be aggressive. Stay focused.
Rule 6 Get the Right Web Reporting Tools for the job.
Find the right tools for the right job. There are many site management tools with strengths and weaknesses. Look to acquire those tools that truly fit your understanding of the business.
Rule 7 Hire Experienced Talent
Hire smart. They won't come cheap. Experienced analysts can generate salaries north of 100,000.
Look for web analytic professionals to measure and manage your site with at least 3 to 5 years of experience. Ideally, that person should be as familiar with reporting tools as he or she is with managing projects.
Labels: site management
<< Home