Articles in the Key Performance Indicators Category

Three of my favorite Advanced Segments with Google Analytics

November 11th, 2008 by Joe Teixeira

Ever since Google Analytics officially released Advanced Segmentation about a month ago, I haven’t been able to stop using it. How can you blame me? It’s awesome to slice and dice data in ways I could never have sliced and diced data before – and the things that I can learn about my website’s data are invaluable.

Here are three of my favorite advanced segments (so far) with Google Analytics. In parenthesis below, I outline what each segment means. The first segment is a default segment; while the second and third segments are custom advanced segments (The names of the second and third advanced segments are also “custom”):

1.  Visits with Conversions / Visits with Transactions
(All Visits that have converted / made a transaction at some point in a visitor’s history with the website).

As I mentioned above, this Advanced Segment is one of the “default” or “pre-packaged” Advanced Segments that Google Analytics provides, without having to create your own. And, it’s one of the best ones. With it, you can see how visitors that have performed the actions that you have defined are behaving, what pages they are landing on, how often they return to your site, and anything else that you wanted to know, but were afraid to ask. You can learn a lot about your converted visitors with this segment (and get insights and ideas on what you can do to get them to convert again).

2. The Power of your Brand
(Dimension: Keyword; Condition: Contains; Value: the first word of company name; AND Dimension: Time on Site; Condition: Greater Than or Equal To; Value: 30; AND Dimension: Pageviews: Condition: Greater Than or Equal To; Value: 3)

Would you care to know how strong your brand name is, and how engaged visitors are that used your brand name or company name as their search term? This segment can give you excellent insight to your customers or potential clients who already know you by name, which means they are well beyond trying to find you, and are most likely closer to reaching out to you, or buying from you.

3. Social Media Awareness
(Dimension: Sources; Condition: Contains; Value: The name of any social media site: Facebook, MySpace, LinkedIn, Digg, Delicious, StumbleUpon, etc…)

Measuring the traffic that your website receives from social media platforms is becoming increasingly important towards these last few months of 2008, and you can expect Social Media to really become important in 2009. This advanced segment puts you in the game by allowing you to see all of the traffic from the more popular social media websites that are out there. Monitor this segment over time to get a feel for how interesting and engaging your social media initiatives are – if they are interesting, and if you have a strong social media presence, traffic will start coming your way before you know it.

BONUS Advanced Segment:

4. Are You Experienced?
(Dimension: Visitor Type; Condition: Matches Exactly; Value: Returning Visitor; AND Dimension: Days Since Last Visit; Condition: Less Than; Value:7; AND Metric: Time on Site; Condition: Greater Than; Value: 180; AND Metric: Transactions; Condition: Greater Than or Equal To: Value: 1)

This Advanced Segment excludes all pretenders, rookies, and newbies, and focuses on allowing you to analyze what your most experienced, best customers are doing. Use the clues that you find in your reports after applying this segment to learn what makes your best customers tick, and compare that against your customers who do not engage with your website at this level.

There are thousands of different possibilities with Advanced Segmentation, which means that once you start creating your own, you’re bound to come up with an advanced segment that will meet your specific needs, answer your specific questions, and become favorites of your own.

Posted in A/B Testing, Google Analytics, Key Performance Indicators, Site Usability, Web Analytics, Web Analytics Metrics, Yahoo! Analytics

The Trinity Strategy – Learn it, Live it, Love it

September 22nd, 2008 by Joe Teixeira

When I met the now legendary Avinash Kaushik for the first time at the Google Mountain View campus in November of 2007, I brought along my copy of Web Analytics: An Hour A Day for him to sign. I was very shy to bust it out in a room of over 100 people, but I finally got the guts and asked him to sign it, which he did! Now the question is: how much is a signed copy of Web Analytics: An Hour A Day worth on eBay? :)

The signature, much to the disbelief of every one of my co-workers here at MoreVisibility, does not say “To my #1 biggest fan of all time!”. Instead, a much more valuable, two line exclamation is found: “Trinity Rocks!”.  Sorry Tigers, but Avinash was referring to his Trinity Strategy, not the University located in Texas.

The Trinity Strategy is, basically, a way of thinking about Web Analytics in today’s Web 2.0 world. The purpose of this strategy, or mindset, is to obtain actionable insights and actionable metrics from the wonderful world of Web Analytics – specifically, your web analytics data.

As you probably predicted, there are three components to the Trinity Strategy:

1. Behavior – Behavior refers to the analysis of the piles and piles of Web Analytics data that we all collect on a daily basis. A long time ago, in a planet far, far away, marketers would simply want to know how many “clicks” or “hits” their website pages received, and their analysis pretty much ended right there (you remember all of those hits counters at the bottom of website pages, don’t you?). The Behavior component of the Trinity Strategy is intended to get you to look at your Web Analytics data at a different level, and, as Avinash loves saying, to “…take a leap of faith…” and make some educated guesses as to why people did what they did on your website (remember, Web Analytics can tell you the what and the when, the why, and sometimes the how is another story).

2. Outcomes - How well is your website ultimately performing? You wanted 40 leads a month from your pay-per-click marketing campaigns, or 5 sales from the new Banner Ad that you have running out there. Are you getting there? Where (and how) are you falling short?  The outcomes component of the Trinity Strategy is to get you to look at your bottom line and really take a look to see if your website is fulfilling its objectives.

3. Experience – Experience is all about a term that is starting to gain popularity in 2008 – VOC, or “Voice of Customer”. What do your customers like or dislike about your website or shopping cart? Which pay-per-click landing page works better than the rest, and which one converts higher than the rest? What frustrations did your customers have on your website, or what made them happy? The Experience component of the Trinity Strategy exists to get you to be a man / woman of the people, with the ultimate goal of improving your website for both your financial benefit and your customer’s web experience.

When you put it all together, you have a strategy – a mindset – that should help your business, your online presence, your email marketing campaigns, and so on. It’s a great strategy if you don’t already have a plan of action, or if you have a plan, but it’s not working and you need to change for the better. And why wouldn’t you want to change for the better?

Take Avinash’s Trinity Strategy, and see if you can apply it to your current online business model. Even if you can’t apply it all at the same time, try at least one part of the Trinity, and see what it can do for you. I promise you won’t be disappointed. At a minimum, you have allowed for a different way of thinking about your online business and presence – although it may not seem immediately useful, the seed of knowledge has been planted.

The Trinity Strategy – Learn it, Live it, and Love it.

Posted in Key Performance Indicators, Site Usability, Surveys / Polls, Web Analytics, Web Analytics Metrics

Five Google Analytics metrics that you’re probably not using

September 11th, 2008 by Joe Teixeira

When talking about Google Analytics or Web Analytics in general, some metrics and reports get seemingly all the attention (and rightfully so). Metrics like Bounce Rate, while loved by Web Analysts on all corners of the globe, are just too popular. In fact, Bounce Rate is now trendy! Do you think it’s become a buzzword as well?

Anyway, while Bounce Rate, Revenue, Goal Conversions, and Transactions are as popular as your local high-school’s starting quarterback / class president / homecoming king, there are other metrics to look at in Google Analytics, you know! These next five metrics are probably some that you’ve seen before in reports, and probably available in SiteCatalyst, WebTrends, ClickTracks, and other Web Analytics programs, although they could be known by another name in those programs.

1. $Index – This metric basically tells you what the average value of each page is on your website. It takes the amount of either Ecommerce Revenue or Goal Value that each page was responsible for, and divides it by the number of Pageviews for each page to give you a financial value in your currency of choice. You can find it by going to the Top Content report in the Content section, all the way to the far right of the report table. Log-in to GA and bring this report up in your profile, and check out what the $Index is looking like for each page. The values may be as small as a couple of dollars, to as high as a few hundred dollars per page. The Goal here is to find that page or two that has a higher $Index than most of the other pages, that also has a good amount of Pageviews. It could benefit you greatly to further optimize that page, or, to create some special offers or promotions directly on that page.

2. % Search Exits – If you have an internal search function on your website (and if you don’t, why not?), this metric calculates the percentage of people who left your website altogether, immediately after they performed a search. These people did not go any deeper into your website, or did not refine their search at all – they simply left. Think of % Search Exits as the “Bounce Rate” of your search function. Now, there is the possibility that they found exactly what they were looking for and they are going to come back later. However, if a lot of people are doing this, chances are your search function isn’t working properly, or serving up relevant results. Our loyal readers of this very blog know that that is a pet peeve of mine.

3. Per Visit Goal Value - Another interesting economics-oriented metric, found toward the right-hand side of the main report table, underneath the Goal Conversion tab. Use this type of micro-analysis to evaluate how valuable each and every one of your website’s visits are (so basically this is $Index for your Visits, instead of for the pages on your site). And, much like $Index, this number can either be very small or very large, depending on your Goal Values and how valuable each visit is to your website.

4. Revenue Per Click – Are you noticing a trend here? If you’re advertising with Google AdWords and if both your AdWords and your Google Analytics accounts are properly synched up, this very small number can tell you exactly what the name of the metric reads – the revenue that each click on your ads generated for you. This will allow you to say “Hey, Ad “C” or “Keyword X” is delivery $0.87 a click!” This can definitely place your click management strategy under a whole new light

5.  Abandonment Rate – This metric is available via the Goal Abandoned Funnels report within the Goals section of your Google Analytics profile. Having the ability to view this metric should not be an issue – because every profile SHOULD have Goals and Goal Funnels. This statistic is telling you the percentage of people that are leaving your Goal Funnel at some step along the way. Chances are that they are leaving your Goal Funnel, and not coming back to complete and match your Goal. If this number is very large, you need to evaluate the way people can get to your Goals (every page along the way). Even if this number isn’t very large, you should stay on top of the path that your visitors take to reach your Goals. It’s actually very surprising to me that this metric, and even this train of thought, is very under-utilized in Web Analytics, so I feel compelled to add it to this list.

Now log-in to your profiles and check these out for yourself!

Posted in Google Analytics, Key Performance Indicators, Web Analytics, Web Analytics Metrics

This types of stuff happens eh-veh-ree-DAY!

July 17th, 2008 by Joe Teixeira

In my latest, most desperate of attempts at trying to make our loyal blog readers think I’m hip by using titles that come straight out of popular phrases in rap songs (which is in conjunction with my last attempt with a blog post entitled “Tryin’ to make a dollar outta fifteen cent!“), I’d like to give you an idea of what the typical day-to-day life is like here for me at MoreVisibility. Every time I describe what I do to friends, colleagues, co-workers and even some clients, I talk about how being in Web Analytics is like being a private investigator or a federal agent of the internet. You gather data, compile statistics, find clues, compile some more data, interview a couple of people, and solve the mystery! Then you typically have to present your findings to your boss(es) and your clients, and then talk about where to go from there.

Here’s an outline of a typical day for me (which is sort-of a false statement, because no two days are the same, so there really is no such thing as a “typical” day…but you get the idea).

Date: Wednesday, July 9, 2008, Boca Raton, FL, USA (Temp: 91°)

7:04 AM – I have just woken up, and I’m already thinking about what I’m going to be doing for that day. Do I have an Analytics presentation to give? Do I need to check the coding on a site before it launches? What accounts will I be doing some investigating on? Do I have enough laundry to last until the weekend?

7:57 AM – I arrive at my office, turn on my computer, and see a yellow sticky note on my monitor that reads “Joe – Please see me about [Client]’s Top Landing Pages.”

8:01 AM – While my computer is loading and my email is downloading, I catch my co-worker who explains that our client is concerned that the exits from their homepage is too high. I suggest evaluating the page’s Bounce Rate and maybe a quick Navigation Summary to get a better idea of what is really going on with their homepage. I also mention something about A/B testing with Google Website Optimizer.

8:02 AM – I log-in to my Google Reader account and catch-up with the 60+ Web Analytics and Search Marketing blogs that I subscribe to, while simultaneously responding to emails with questions and discussions from co-workers.

8:41 AM – I am finalizing my speech for an in-person Analytics Presentation to one of our clients, when Amber (Client Strategist) buzzes me and tells me her client added an email address to their Google Analytics account, but they cannot log-in. She tells me she knows what the reason is: “The Email address is not a Google Account yet! It needs to be a Google Account in order to log-in with that Email address into their GA Account.” I start smiling, because that’s exactly right.

9:15 AM – I meet with Shawn, our newest co-worker, and begin to review all of the great things that is Web Analytics. Of course, I have to throw in my private investigator / federal agent simile. I also explain that Javascript-based programs like Google Analytics are only able to collect data from users who have both Javascript and Cookies enabled on their browser of choice. If they don’t, Google Analytics simply cannot track those individuals.

10:30 AM – I am out of water, and I’m starting to get hungry. I think about all of the different possible ordering options, and think how cool it would be if some of our favorite local take-outs would have an online ordering option, and imagine what I would give for a large turkey & swiss right now.

10:35 AM – I start to open up a brand new Google Analytics account for a new client. I provide our client with the necessary tracking code to be placed on every single page of the website. I also explain the many different options available, such as SiteSearch, Ecommerce, Benchmarking, and Filters that can be utilized.

10:59 AM – I receive a phone call from another client who asks me to explain the difference between A/B Testing and MVT (Multivariate Testing). We throw around some ideas of what to test and experiment back and forth, and we agree to launch an experiment using Google Website Optimizer for their AdWords Campaign’s landing page.

11:33 AM – Okay I am REALLY hungry right now and I can’t imagine being able to last another 27 minutes without eating something!

11:34 AM – Marni (another Client Strategist) sends me an IM that reads “It’s working!!!” She is referring to the neat advanced filter that we wrote which added the name of the source and the visitor type in front of the transaction ID in this particular client’s Ecommerce Report section. This is great news, as I’m sure the client will be very happy to hear about this.

12:00 PM – I’m about to grab my sunglasses and walk across the street when I see an Email come in that reads “GA Tracking Issue – Please Help!”, flagged as High Importance. Guess lunch is going to have to wait a while…

12:19 PM – Problem solved! Turns out there were two sets of Google Analytics tracking code on the same page, one urchin.js version and one ga.js version, which is bad news. I then proceed to solve another problem – my hunger.

1:10 PM – I return and find some great discussions starting up on the Yahoo! Web Analytics Forum. It’s really a great forum to check out whenever you can.

1:15 PM – My in person analytics presentation is in 45 minutes. I am very obsessive when it comes to presentations, as I like everything to be perfect, neat, and organized, so I visit our client’s website one more time, and find that they have repaired a bug in their shopping cart that was the focus of one of my main points in the presentation!! I think of a good way to still use this slide in the presentation.

1:38 PM – One of Khrysti’s (Director of Optimized Services) clients is in a bind. They cannot figure out why they are not seeing “yahoo / cpc” or “msn / cpc” in their Google Analytics profile, like they can for “google / cpc”. I reference my latest blog post about Google Analytics URL Coding, and I strut away confidently as I’ve capitalized on another opportunity to tell someone about my Analytics Blog. :)

2:00 PM – It’s showtime! Our clients have arrived, and I hand out my business cards and begin with introductions. It’s always great to be able to meet people in person and talk analytics, Site Search, and Shopping Carts to them. This particular client is using both Google Analytics and WebTrends, and they were really concerned about the differences in data between the two, even though they swear that they have everything installed properly. I explained that different analytics packages will always report different values for the same metric, no matter how perfect your installation and coding is.

3:32 PM – I come back and check my own Google Analytics profile for this blog, and I’m surprised to find so much referring traffic from European blogs! I love that someone in Austria and someone in the Netherlands is reading a blog written by someone half-way around the world. I know this because I frequently check my referring traffic reports, to see who is bringing me additional traffic.

4:00 PM – Another one of Khrysti’s clients cannot for the life of them understand why people type in such simple, generic words such as “shoes”, “belts”, and “hats” into their website’s search feature on their online clothing store. They believe something is wrong, broken, or not working correctly. I am pretty sure that their search function is working properly, but I go to their site and double-check with some test searches anyways. After I verify that it is working properly, I pick up the phone and begin to explain to the client that people have much different behavior (and level of tolerance!) when they perform keyword searches on Google or Yahoo vs. performing keyword searches on someone’s website. Again, I direct their attention to my blog by referencing my post about a website’s internal search function.

4:45 PM – My day is starting to come to a close. I like to take a few minutes each day and “spot check” different analytics accounts, just to ensure that everything is still running smoothly and data is being collected and displayed properly. I’m glad I did this, because an important Goal in one of April’s (Director of Strategic Accounts) clients’ accounts has stopped collecting data. After a test on the client’s website, it turns out that the Goal URL has been changed from “thankyou.html” to “thanks.html”. Websites are updated all the time, which is a good reason to routinely double-check your Goals to make sure they are working properly.

5:03 PM – I’m just about wrapping it up here and saying good night to everyone in the office. Out of nowhere, Danielle (my boss) catches me right before I walk out the door. She explains that a new client needs to speak with someone urgently (first-thing tomorrow morning) about what analytics platform they should choose between Omniture SiteCatalyst Hitbox (HBX) or ClickTracks. They also need help in defining new Key Performance Indicators for their executive team, and possibly setting up some custom reporting. I love to think about things like this, especially on off-hours, so I’m glad I have this opportunity.

7:00 PM – Analytics is going to have to wait a while – an episode of Law and Order is on right now that I’ve never seen before. :)

All in a day’s work. :)

Posted in A/B Testing, AW Stats, Feedburner, Google AdWords, Google Analytics, Google Website Optimizer, IndexTools, Key Performance Indicators, MSN Gatineau, Multivariate Testing, Site Usability, Surveys / Polls, Web Analytics, Web Analytics Metrics, Webside Story (HBX), Yahoo! Analytics

Figuring Out Your Ecommerce Sales Cycle

May 22nd, 2008 by Joe Teixeira

Today’s post is all about something that every single business man or woman should already know – their sales cycle. As soon as you read “sales cycle”, a number, an amount, or some percentage should have immediately popped up in your head, that corresponds to the amount of time it takes your customers to buy things from you.

It’s imperative that you know what your sales cycle is! You need to know this so that you can:

  • Gain a further level of insight with your customers / shoppers
  • Understand what makes your customers “tick”
  • Learn what it is about your products / landing pages / messaging that encourages your customers make that impulse or that “on-the-spot” purchase
  • Discover what the best ways are for you to market to your audience
  • Find out (through testing) what works, what doesn’t, and what you need to do

That sounds like a list of bullet points for a seminar or a conference presentation, but knowing your sales cycle – and how you can shake things up – helps answer a lot of questions that you may not have known the answers to.

But let’s say that you don’t really know what your sales cycle is. That’s OK – your secret is safe with me. Besides, your sales cycle is always changing, isn’t it? You’re testing different marketing messages, different shipping offers, and different “Add to Cart” buttons, and all of these things affect your Visitor Loyalty, and when Visitors purchase stuff, don’t they? Of course they do!

Google Analytics, being the rock star that it is, has thrown in a few Visitor Loyalty reports within its interface that can help you keep track of how long and after how many visits people are buying things from your online store. If you have my favorite Web Analytics program (and if you don’t, why not?), log-in and visit your Ecommerce reports section. At the bottom of the list of reports you will find links to a “Visits to Purchase” report and a “Days to Purchase” report.

These two reports are great, especially when compared to a previous date-range. You can use this report in conjunction with other marketing or Ecommerce reports, and really get a much deeper understanding of how your online business is doing.

A couple of notes: Generally speaking, the lower the cost of your items, the faster your sales cycle. People will usually buy sneakers / hats / ipods after one or two visits. Things like flights, cruises, resort packages, and to an extent, membership applications, will have a much slower sales and ecommerce cycle than your material goods counterparts. Most people will do a lot of research and comparison shopping first, before they pull the trigger on a flight to Japan from the United States, so that they can get the best deal possible. This sometimes takes a few more visits and days than buying a t-shirt or a new CD (Do people even buy CD’s anymore? :) ).

Posted in Google Analytics, Key Performance Indicators, Web Analytics, Web Analytics Metrics

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