How Web Analytics Helped Find A Million Dollar Hole
You can read your web site stats well enough to tell how many visitors your site is getting.
How many pages they visit, and how long they stay on your site using your Web Analytics.
But those stats can help you do much more.
Here’s how one site analyst uncovered a problem that could cost customers and yourself. In numbers thousands of dollars in lost sales if you are not using Web Analytics.
Often people asked how to go about using Web Analytics to pinpoint problems that make the tools worth the investment. Many people are dubious when asked to fork out $50,000 a year to have reports about how people visit
their website using Web Analytics report.
What is cover is about to describe is a situation. where one of company could earn $1 Million per year because of the Web Analytics tool they have installed on their site.
This article will describe how to use a key performance indicator to raise the problems.
Then go onto describe how to found out what the issue was on the your site or your clients website. Then use Web Analytics to solve the problem.
The Key Performance Indicator or KPI (Web Analytics)
KPI! It’s the latest buzzword flying around in the industry. What key measurements to use is an important point, but much more important is how you use them.
One KPI written about before is page views per visit. Page views per visit is a KPI should always be use regardless of the site goal. The reason being it’s what is refer to as a tripwire metric.
Like a tripwire it gives you a warning when something is not right. The way you should use this KPI is to first find out how many pages it takes to complete the desired action in the Web Analytics.
In this case the desired action a sale took 7 pages.
Then consider what a good browsing experience that might be from your point of view.
In this case you can figure if the visitor viewed 5-7 pages. Then completed a buy (another 7 pages) it would be a good visit from the businesses point
of view this information can see using Web Analytics.
It means that the visitor finds out that more is on offer than the product they were looking for. Then you add another 7 pages on top of this to flag a too many pages warning.
So we have a bottom limit of 7 pages, a happy medium of 14 pages and a top limit of 21 pages.
Why is too high a warning? find out with your Web Analytics.
When an average visit to the website is more than 14 pages in our view it means one of two things. Either the visitor is happy with the website and is browsing around or the visitor got lost in the process and can’t find what they want. A good experience from any visitors point of view
on an e-commerce website is that they find what they wanted. In this case you figured that should mean browsing less than 21 pages on average.
What you can find will shows why the Web Analytics metric is important.
KPI went off the scale showing that on average a visitor viewed 22 pages per visit.
The next job was to figure out whether this was a good thing or a bad thing using your Web Analytics.
If an average visit took 22 pages it meant. That either the visitor was happy browsing around and the client should be happy. Or it meant that there was a problem and if so, needed to find out what and where.
Good or Bad? Happy or Sad? Web Analytics resolution.
The KPI had raised the warning signal so now there is a need to find out which visitors this KPI applied to. In HBX (and many other tools) it’s possible to segment the visitors into groups of people that follow the same behavior
patterns. You want to know if the visitors were flicking through pages (a sign that they were unhappy). Or if indeed they were traversing a great many pages each and spending a normal amount of time on the site (a sign that they were happy).
So segmented the visitors into only those that spent less than 2 minutes on the site and those that visited the shopping cart. This would enable you to see if the page views per visit. If those visitors only on the site for a short period of time were racking up lots of page views. Or whether it was those that hit the cart that had trouble finding what they wanted.
Less than 2 minutes showed normal behavior on Web Analytics report.
The people that spent less than 2 minutes on the website browsed 2 or 3 pages per visit.
The people that hit the shopping cart again went off the
scale but this time it was even more problematic. The average page views per session was 58 pages. Shows that the people who were having problems.
58 page views per visit? Web Analytics
Since the visitors who were having the problems now there is a need to know what they were doing.
How on earth could people be going through 58 page
views on average each? It seemed not normal – asked the developer to check that the tracking code is installed well.
But, when they checked the path analysis the problem on the website became crystal clear.
One visitor had traversed 97 pages. When you look through his visit path and you will notice that the path kept referring to one page – a search results error page.
Now checked other individual visits and noticed the same key trend the search results error page. Web Analytics is the key to finding these kind of error.
This lead to check the failed searches on the website using Web Analytics.
When you totaled them up there were over 2000 failed keyword searches and the big majority were
product codes. The sites internal search engine could not read a letter and number combination. Most of the product codes consist of numbers and letters.
Now the problem found using Web Analytics and this can help to control these errors.
The solution thus is to fix the search engine issue. This one fix is a huge find. There were over 1000 people that keyed in those failed keywords and did not complete the buy.
If customer brings in over $160,000 per month in online revenue from a little over 1700 people that did complete a buy.
That means by doing a little mathematics it’s easy to work out the potential in using Web Analytics.
It’s well over $1 million a year in lost revenue, that is a lot of lost revenue that could have not missed. Could have missed if and gone uncorrected if Web Analytics was not in use. You can tell that the implementation of Web Analytics is essential for success of all web sites yours or your clients.
It’s easy to worry about the cost of a Web Analytics system.
They are expensive and with everything that most businesses have going on they are not easy to get the most from.
What you need is an in house expert looking at the systems to pinpoint the problems or outsourcing to a consultancy to
get the most from the systems. But, to not use Web Analytics is like throwing away money and missing potential leads and sales.
This a frustrating and expensive waste of time and resources for any company and clients.
It is essential to use Web Analytics on your web site to get the best and make the most money online and generate leads from your site. People have no idea how powerful web analytic can be and the benefits associated to using on you their site. In the case of an ecommerce site web analytic is essential for best result.