BUS572-2 Web Analytic's and Conversion Optimization
Funnel Analysis explained:
Concept 1: Funnel
Analysis
One of the most important concepts
in eMarketing is understanding the goal of your website and how consumers/users
will achieve that goal, as well as what process they will use. This is commonly
referred to as funnel analysis, which is a defined path that visitors should
take to reach the final objective. An example would be as follows:
Event 1: Consumer does a search for
shoes
Event 2: consumer checks prices of
different shoes
Event 3: consumer chooses a shoe and
proceeds to check out
Event 4: enter personal/payment details
and confirm order
Creating
and analyzing a funnel analysis will help you measure
the success of the Web site or campaign and are crucial to maintaining focus
within online activities. Understanding the goal of your website and how
reaching those goals are separated into actions will help you to minimize
problems in the conversion process.
Although
it is helpful to plan out a funnel analysis it is also helpful acknowledge that
not all consumers are going to use your website in the way you intended.
Although you as a nosiness owner or website developer may think your
website/products are clearly defined and easy to access, a consumer might not
think so. It is important to explore all aspects of how a website may be used.
Concept 2: Content Characterization
Content characterization help characterize how visitors move through your Web
site. For example, content characterization can tell you how visitors react to
your content. Content characterization includes;
1.
Page exit ratio: Number
of exits from a page divided by
total number of page views of that page.
2.
Single-page visits:
Visits that consist of one page
3. Bounces (single
page-view visits): Visits
consisting of a single page view
4. Bounce rate: Single page-view visits divided by entry pages
This is
the one of the most important metrics to measure because it allows you to see
if visitors left your web-site after viewing it or view another page on your
web-site. If you are getting a large number of visitors who go to your site but
then leave, then you can begin to troubleshoot as to why that is. Maybe your
site isn’t visually attractive or they typed in a certain set of keywords
hoping your site would match, but it didn’t.
I am interested to see the AdWords content characterization tool and
what metrics it allows you to see.
Skill: A/B Split Testing
“A/B split testing” measures one variable at a time to
determine its effect on an outcome. An example of an A/B split test would be
creating two different advertisement headings and seeing which one proves
superior. This type of testing is useful because results can be interpreted to
see if there is a statistically significant difference between the variables
being tested. This is crucial during our campaigns because it will allow us to
see which campaign is more successful and if we have to drop or change our
strategy. The challenges to this method is the timing required to get accurate
results. You will have to allow your campaigns to run for a specific amount for
time before being able to test. For this project which is very short in
duration it might not be an effective test to use.
I really like your post Brittany, particularly how you explained the funnel analysis with the shoe example. This example really helped to enhance this type of model and make analysis more relatable to readers.
ReplyDeleteI also agree that it could be difficult to use A/B split testing during our ad campaign because the duration of the project is relatively short. We may be able to utilize this testing method some, but it may not be completely accurate. Perhaps A/B split testing could be done periodically throughout the ad campaign to see what types of results are generated.
Hi Brittany, great shoe example!
ReplyDeleteI'm wondering if you could ask questions that other members of the class can respond to. I'm also curious about your overall reflection, and goals for the next two weeks.