Analytics 2.0: Key Metrics, KPIs, and Customer Journey
Analytics 2.0 Components
Analytics 2.0 includes the following components for continuous improvement based on user experience:
- Analysis of quantitative data from your website and your competition.
- Clickstream analysis
- Multiple outcomes analysis
- Experimentation and testing
- Voice of the customer analysis
- Insights and competitive intelligence
Time on Site vs. Time on Page
Time on site is a key metric for determining how useful visitors find your entire website. It helps answer questions like: How long do visitors spend shopping before purchasing a product?
Digital Marketing Measurement Model
The components are:
- Define objectives, goals, and KPIs
- Measurement
- Segments
- Implementation
- Final product
Metric Definition
A metric is a quantitative measure that describes potential trends on a web page.
KPI Definition
A KPI (Key Performance Indicator) informs about business performance. It’s a quantitative objective that classifies goals, indicating whether progress is positive or negative.
Micro and Macro Goals
Micro Objective: A step in the conversion funnel, such as adding a product to the cart.
Macro Goal: Actions that represent the primary goal: CONVERSION, such as making a purchase.
Types of Conversion
Sales, Leads, Engagement, Event, and Subscription.
Customer Journey Phases
Awareness, Consideration, Purchase, Retention, and Advocacy.
8 Critical Web Metrics
- Sessions/Visits: A sequence of pages that a user visits on a website. (More than 29 minutes between sessions constitutes a new session.)
- Total Page Views: Every time a page is downloaded or viewed during a session.
- Unique Visitors: Unique browsers that access your site, identified by a cookie generated by your server to track successive sessions.
- Time on Page: Total time spent on a specific page.
- Bounce Rate: The percentage of sessions where users arrive and leave without interacting. A high bounce rate is generally undesirable.
- Exit Rate: Indicates the number of people who leave your webpage to visit another one.
- Conversion Rate: Examples include becoming a customer, responding to a marketing action, buying a product, or hiring a service.
- Engagement: Measures the impact of results.
Segmentation Examples
ATTIC & BUTTON
ABO: The Complete Customer Journey
- Acquisition: What we do to attract customers to our platforms.
- Behavior: What happens when they land on our platform.
- Conversion: What was the business impact.
Business Objectives
Generation of sales, generation of opportunities, awareness, vocation of service.
Conversion Funnel
A linear path composed of a set of steps that conclude in the achievement of a goal.
SEO Performance
SEO is the organic method to reach your website in a search engine using tools like keywords. It involves understanding user preferences.
To measure SEO performance and results, consider:
- Google Analytics (Organic traffic)
- Keyword Ranking
- Domain Rating
- Analyze % of bounce rate
Social Media Marketing
A tool used to promote products. It involves a series of techniques and processes to attract the target audience on social media. It’s a form of internet marketing that uses social media apps as a marketing tool. These social media platforms enable brands to connect with their audience to:
- Build a brand
- Increase sales
- Drive traffic to a website