Tuesday, April 25, 2006

Where is the "R" in ROI for your online investment and what are the right benchmarks?

Following are links to the presentations and handout from this session:
Additional thoughts from the ROI Session -

Of those within the target market that visit your site, you can identify measurable objectives based on other communication goals, marketing objectives, and sales objectives.

These objectives might include:
  • The number/percentage of target market site visitors that subscribe to receive ongoing information from your company via email;
  • The number/percentage of target market site visitors that will request additional information about your organizations products or services;
  • The number of customers who successfully resolve customer service needs online.
  • The projected number of products and services sold online, or transactions originating from Internet visits.
  • The number of new monthly visitors and repeat monthly visitors to your Web site.
Using Web statistics, you can calculate a number of useful marketing-relevant indicators:

Penetration = [unique visitors to home page] / [unique visitors] Penetration reflects the percentage of site visitors that go beyond your organization's home page. It's not uncommon for Web sites to lose 50% or more of its visitors before the home page finishes loading. A home page that has 5,000 visitors a month with a penetration of less than 50% may be less effective than a site with 4,000 visitors with higher penetration.

Conversion = [unique visitors taking desired action] / [unique visitors]Conversion reflects the percentage of site visitors that take a desired action. You can measure the conversion for several actions simultaneously. For example, the percentage of site visitors that purchase online; and the percentage site visitors that subscribe to your organization's electronic newsletter.

Migration = [visits to content area]/ [site exits from the content area]Migration refers to the number of site visitors that leave your site from a specific content area. Content areas with the highest migration are typically less effective than areas with lower migration.

Clicks to Action = [Average number of clicks from home page to desired action]CTA reflects the number of clicks it takes from the Home Page to reach a desired action. For example, reducing the CTA to complete an order should result in a measurable increase of customer conversion for online orders.

Source: http://www.evolt.org/roI-how-hard-is-your-web-site-working

Is your organization working towards effectively monitoring these activities so you can display the ROI for your online investment?

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