Web Analytics India Blog

Using Data to make Smart Business Decisions: This Presentation was given by Jason Burby and his team from Zaaz. I still dont have the copy of the presentation, but i’ll share as soon as i get that. 

Moving from data to action!

 Data –> Insight à Realize Value ( Action)

Zaaz’s session attracted the largest audience, the room was full and everyone had to shift to the ballroom so the audience could be accomadated.

The topic covered by them is something most discussed in the web analytics fraternity, and undboubtedly the important for any web analytics team.

Plenty of data, lots of tools no action!, If your not taking action your ROI is “zero”

Big Dog Syndrome!, The HIPPO, says I like that one! and that’s what ends up being the final decision and not what data says.  How to do you shift your organization to leverage data and get actionable insights.

So How do you over come BDS,

Methodology of success,

• 1.)    Business Metrics:
• 2.)    Reports
  • What data we have, what can we get. How can share this data
• 3.)    Analysis
  • Attitudinal data, Survey, Identify the problem, à how much lift can we get out it . If we move this much that will move conversion by x amount
• 4.)    Optimization and Action

Monetizing Site Behaviors: Jason

• Lack of Executive Process:
• Lack of Ad
• Small changes have significant impact:
• Integrating Data to Understand the full Landscape:

What’s important to understand to achieve this?

1. What do my customers think -
2.  What are my customers doing - Behavioral
3. What are my customers buying -
4. Awareness : Sample metrics, site visit , web search activity , awareness survye
5. Interest : Depth of Exploration
6. Intent
7. Purchase

Monetization Models

Description: Assigining $ value to diff site behaviours to understand and quantify the value of overall web profile.

 Some of the Metrics which can be used are

• Current conversion rate —-current estimated inc sales
• Avg forecast future conversion estimate — Futuree estimated increase sales
• Additional sales — Estimated Monthly Potential — Estimated Annual Potential
• Estimated Cost to Optimize — 12 Month ROI

Best Practice: Keep a library/track across organization - maybe according to verticals both wins and loses.

Tacking action:

Culture of Experimentation: A/B Testing, Multivariate Testing & Behavarioual Testing

Testing Possibilites are endless: You can test everything under the sun Pricing, promotion offer, headline copy, visual design , body copy, color , layout, cTA, button stle, font style, navigation, featured produc, registration form.

3 essential requirement for monetizing your experiment

1. Present Compelling Impact summary
2. Re Adjust values if you get push-back
3. Manager Risk
4. Consistency is far more important than perfection.

Account of Cannibalization:

Keep in mind that increasing one key metric on a page will usually impact other metrics on that page.

Make sure this is represented candidly in your model.

When you try to improve single thing you make sure it does not affect the other products.

What to Test

1. Pick what you believe is the one most imp aspect of ur site is to your business
2. Trace the value of the behavious form your site thur to the ultimate success
3. Start considering the value of the sale.

Common traits of success: 

• Analyze data based on bus goals
• Link attitudinal, behavioural and comp data to form insights
• Focus on opportunities and recommendation not just reporting
• Monetize all key site behaviours
• Prioritized based on greatest impact to the business
• Ongoing optimzation process
• Knowledge base of success and failure
• Understand customer exp online and offline