Back to Basics-Establishing Objectives, Goals and KPIs

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objective. Goal, KPI

Back to Basics-Establishing Objectives, Goals and KPIs

analyticscomponetsSometimes the best thing we can do for our customers is point them in the right direction, help them define their objectives and goals and create a framework for measuring them (KPIs).

Here is a mock up of the building blocks for a robust analytics program.

Section 1: Clickstream-“clickstream is the foundational data which helps you measure pages and campaigns and helps you analyze all kinds of site behavior: Visits, Visitors, Time on Site, Page Views, Bounce Rate, Sources…”(Kaushik 2010, 7)

Section 2: Multiple Outcomes- “Focusing deeply and specifically on measuring Outcomes means connecting consumer behavior to the bottom line of the company” (Kaushik 2010, 8)

Section 3: Testing- “By leveraging the power of experimentation and testing tools, you can run experiments on your site and le your customers tell you what works best” (Kaushik 2010, 8)

Section 4: Competitive Intelligence- “Knowing how you are performing against your competition is priceless – it helps you improve, it helps you identify new opportunities, and it helps you stay relevant” (Kaushik 2010, 10)

Section 5: Reporting- “If we want executives to use our dashboards and take action, then we must give them information and not data” (Kaushik 2010, 288)

Key Metrics:

The key metrics I am interested in are visits to www.xyzwebsite.com and more importantly unique visitors. Bounce rate is important too. I want to know if people hit my site and “puke” as Kaushik states in chapter 3. If my visitors do bounce, what page in particular is causing this reaction, which incorporates exit rate, or a bad exit? Conversion rate is also important to me, as I want to convert unique visitors to subscriptions and even better guest blog submissions. Just as important to the success of www.xyzwebsite.com is Engagement. How did my visitors enjoy their stay? I can measure this in the form of comments, liking and sharing the post on social networks.

Web Analytics Framework:

*Business Objective: What are we trying to accomplish? www.xyzwebsite.com is trying to create brand name recognition through the web.

  1. Get visitors to the site, increase number or visits and unique visitors.
  2. Increase activity through comments and guest submissions, sharing link.
  3. Visitor Loyalty-subscriptions, following on social networks.

The end game is to create profit through click-thru advertising, paid freelance writing assignments, paid reviews and free products/services.

Are these simple objectives DUMB: Doable. Understandable. Manageable. Beneficial?

*Goals: Goals are specific strategies you’ll leverage to accomplish your business objectives. 1. do x 2. improve y 3. reduce z.

  1. Write more blogs-get name out there and search engines working.
  2. Improve SEO
  3. Improve site appearance-fix tags; re-install share buttons on the bottom of every page.
  4. Install Google Analytics program –What are the most popular posts? What time of day are people visiting the site? What is the referring site? Optimize site based on this data.

*Key Performance Indicators: A key performance indicator (KPI) is a metric that helps you understand how you are doing against your objectives.

  1. Number of unique visitors
  2. Number of Subscribers
  3. Number of comments/Guest blog/recipe submissions
  4. Sharing post link-number of likes and shares on social networks

*KPI Targets: Targets are numerical values you have pre-determined as indicators success or failure.

  1. 1000 unique visitors a week.
  2. 50 subscriptions a week.
  3. 2 comments on every post, one submission a week.
  4. 100 likes and 50 shares total.

 

(http://www.kaushik.net/avinash/web-analytics-101-definitions-goals-metrics-kpis-dimensions-targets/#goals)

Solter Consulting can help you get your business headed in the right direction. Contact us today.


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