How to Turn Your Web Analytics into a Money Making Machine

Aug 11, 2009 - 4:45 pm 0 by

Below is live coverage of the How to Turn Your Web Analytics into a Money Making Machine from the SES San Jose 2009 conference.

This coverage is provided by Gaurav Sharma of Think Mantra.

We are using a live blogging tool to provide the real time coverage. You can interact with us and while we are live blogging, so feel free to ask us questions as we blog. We will publish the archive below after the session is completed.

How to Turn Your Web Analytics into a Money Making Machine(08/11/2009) 
1:41 Gaurav Sharma:  

How to Turn Your Web Analytics into a Money Making Machine

You tagged your website with analytics. You may even login to check your stats or get them emailed to you. What does it all mean? How do you find anything useful in the endless amounts of data provided? How do you turn those reports into insight and action? Join web analytics godfather, Jim Sterne, Avinash Kaushik, author of Web Analytics: An Hour A Day, and conversion and continuous improvement guru, Bryan Eisenberg for this fast paced session where each panelist will provide you with 3 solid tips to make money from your web analytics and answer questions about everything your wanted to know about web analytics but were afraid to ask.

1:49 Gaurav Sharma:  Session started by moderator Mike Grehan
1:51 Gaurav Sharma:  Back when Analytics was just looking at log files.
1:51 Gaurav Sharma:  

Avinash Kaushik to speak first.

1:52 Gaurav Sharma:  Smart Paid Search - Use data more effectively.
1:53 Gaurav Sharma:  

Showing bad landing pages for ads for flight ticket keywords.

1:54 Gaurav Sharma:  Bounce Rate is a great behavior metric.
1:55 Gaurav Sharma:  Traffic is diverse, understand their needs.
1:55 Gaurav Sharma:  Move away from aggregated reports of data.
1:56 Gaurav Sharma:  "Analytics is not one night stand"
1:56 Gaurav Sharma:  "Days to Purchase" is a great metric.
1:57 Gaurav Sharma:  46% of traffic from paid search converts on the first day.
1:59 Gaurav Sharma:  

Don't say "buy now" all over your landing page. Get them hooked by registeration or "email me if the price goes up/down by x%"

1:59 Gaurav Sharma:  "email me if the price goes up/down by x%" change made the company $19 Million.
2:00 Gaurav Sharma:  It is important to figure out revenue by Match Type.
2:02 Gaurav Sharma:  Revenue/Profit by Match type.

Gross Profit
Net Profit - This is something you should pay most importance to.
2:02 Gaurav Sharma:  Convert opinions into Hypothesis
2:05 Gaurav Sharma:  A Luxury car company didn't want to buy their brand keywords because they were#1 in Ogragnic. They ran an experiment over 6 weeks. During the time of paid search ads, organic traffic decreased, but they increased conversions a lot.
2:06 Gaurav Sharma:  Competitive Intel - Talking about Google keywords trends. Example of "acne" and Proactiv.
2:07 Gaurav Sharma:  Narrowing down to state and looking at the related keywords.
2:08 Gaurav Sharma:  There is a big mismatch between states people are searching for "acne" and where proactiv is getting traffic from. They can do a better job at geo-targetting for ads.
2:08 Gaurav Sharma:  "cancel proactiv" is the fastest rising search - ouch!
2:12 Gaurav Sharma:  

Kim Kardashian is most famous celeb in New York - got data from ad planner. Then get the list of all the websites which got search, gender, age. Mash them up and get a list of websites where these men went to.

2:12 Gaurav Sharma:  "rich old men" search for Kim Kardashian
2:13 Gaurav Sharma:  Brian Eisenberg is up next.
2:14 Gaurav Sharma:  1. Plan
2. Measure
3. Improve
4. Goto 1.
2:15 Gaurav Sharma:  Prioritization for website testing is based on budget, culture, resources.
2:16 Gaurav Sharma:  Tips to how to do it

1. To do list regularly (monthly perhaps) - what to test
2:16 Gaurav Sharma:  2. List all the objectives and prioritize them.
2:17 Gaurav Sharma:  Prioritization should keep in mind how long will it take to implement a feature.
2:18 Gaurav Sharma:  Avg. metrics produce avg. results - Don't average out things, segment different type of people on the website.
2:19 Gaurav Sharma:  Talking about 4 different personalities by Jakob Nielsen.
2:20 Gaurav Sharma:  Build personas and predicitive models. Then define what will be success for each of them.
2:21 Gaurav Sharma:  *Persuasion is a process not an event*
2:22 Gaurav Sharma:  Never look data in aggregagte. To see anything meaningful segment it.
2:22 Gaurav Sharma:  Always be Testing
2:23 Gaurav Sharma:  Don't only focus on the analytics, look for user testing for usability and voice of customer.
2:23 Gaurav Sharma:  Test on new marketing efforts.
2:25 Gaurav Sharma:  User testing has been extermely expensive - some cheaper options -, silverback, userfly, clicktale.
2:25 Gaurav Sharma:  "AlwaysTestingSJ" is a coupon code for worth $58.
2:26 Gaurav Sharma:  Jim Sterne "the god father" of analytics up next.
2:27 Gaurav Sharma:  3 Tips:
1. Do what Avinash said
2. Do what Brian said
3. Repeat
2:27 Gaurav Sharma:  Appreciating Amazon's 1-click checkout.
2:28 Gaurav Sharma:  3 actual tips
2:28 Gaurav Sharma:  
1. Optimize that basket/cart
2:30 Gaurav Sharma:  Profitability is what you should measure for.
2:30 Gaurav Sharma:  You should calculate value of the visit and see if you want to have that visitor or not.
2:31 Gaurav Sharma:  2. Determine visit value
2:33 Gaurav Sharma:  

Measuring based on conversion can be misleading.

2:34 Gaurav Sharma:  QnA started
2:37 Gaurav Sharma:  

Display a survey to a small sample of people leaving the website. You need 1200 responses to get statistcally segment users.

2:44 Gaurav Sharma:  Faster websites have higher conversion rates.



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