How To Capitalize On a Website Metric
A traditional business in order to understand its business functions relies on reports from the accounting, sales, marketing and other various departments. But in today's world with the Internet being a popular medium for businesses, consumers and personal life's companies have launched their business onto this medium. Once online the main challenge is where are the departments getting their data from since there is no physical interaction with its customers; this is where your Analytics and goals come to play.
Lets play a game of DUMB with our objectives
Doable
Understandable
Manageable
Beneficial
A business needs to understand what its goals are and how it plans to implement it. Let us try to understand on a scope of a fashion E-commerce company.
Every company needs to set their digital goals and company goals. Over here an fashion Ecommerce company will mainly focus on the following goals:
Get online presence
Get an higher conversion rate
Reduce bounce rate
Be active across all social media platforms.
Once this has been done the company should focus on their KPI's which vary from organizational needs as well as department needs. For instance the company is going to look at sales whilst the merchandisers are going to see which block or promotion gets the most sales. When I was in my previous company, we used to run weekly promotions in the form of banners in the home page and categories to amplify the sales. With a bit of trail and error and done the merchandisers could get user generated information from Google analytics which helped in reporting KPI's.
Once KPI's are generated we look into the target and how it is going to quantify on what we have achieved. For instance a super promotion across all categories has been a success, but what does that success mean? If we target to reach a sales target of $100,000 and we achieved $150,000 that would be a success and an excuse for an office party. But targets are not created on the same day or it is a wild guess. It is created with historical data and key insights from the higher management as well as the departments.
Today's companies are highly data driven with information flowing from Google analytics, marketing reports, sales reports, advertising reports and customer service reports.
With this huge clutter of information a company needs to funnel in relevant information which put's focus into another dimension. With the help of the merchandisers and the marketing team we need to identify which factor helps in amplifying the goal. The key targets for a mega sale will not only be the total sales but also return on investment, which categories sold out most and also what is the buyer behavior. What if the Fashion Ecommerce company was generating a lot of sales in baby category and also in the women dresses category. This will help the company to create more targets for the coming days and focus on that segment of the market. As mentioned earlier it will be on the basis on trial and error initially but once the segments have created their opportunities they have to manage that engagement via Social media ,email marketing and also through non digital channels.
This is a good marketing example for India's Ecommerce leading giant Flipkart who has managed to create some meaningful advertisements as well as comic ones.
How do we measure awareness once we have managed to accomplish the above KPI's and targets.
One good way to see is the total number of unique visitors on your website since the campaign or reviews from customers who have purchased your product.
Social media today helps you to track your campaigns and also your company's acceptance level in the market. Plan to track your youtube channel, see for the number of views each video generates; see the amount of likes and dislikes that are there on the video and as well as the comments. Some brands do not give rights to users to comment on these channels while others give rights. It all depends on the brand's social media marketer's recommendation.
Facebook provides a good platform for awareness since you are able to share it within your social circle as well as sponsored posts manage to get more awareness.
Awareness must not only be quantitative but qualitative, for instance an advertisement manages to get likes apart from the target market, the awareness for that advertisement will be minimal.With a rise of companies and people purchasing likes and followers, do read this article.
When it comes to using analytical tools for social media campaign analysis across all your platforms, a good bet would be Hootsuite or if its for your website just go ahead and use Google analytics and just attach the tracking code onto your HTML and go ahead and enhance using your skills using Google Partners.
If your website is built on wix and you wish to check your metrics it would be best to use Analytics application from the dashboard i.e for free or else just upgrade to premium in order to get google analytics access.
This is my current view for my blog.
This update is on the basis of August 31st and I do require more engagement with my second blog post. This is how you can identify which requires post/page required more interaction.
Do check out your Blog application on WIX to understand your market, audience on the basis of country and device.
This blog mainly focusses on how social media campaigns and digital marketing campaigns can be assessed and how to turn around your results. The Ecommerce company comes in with personal experience on how they went about their digital and email marketing.
Do comment below regarding your understanding and opinions regarding the topic mentioned and it would be great to understand your idea's too.
Kaushik, A. Digital Marketing and Measurement Model. Retrieved from https://www.kaushik.net/avinash/digital-marketing-and-measurement-model/
