This is important to Bang-Olufsen (BO) because it allows for users who are interested in the products to arrange a demo to try the product at a nearby store. This creates a sales lead by bringing a prospects to a physical store.
This is important micro-conversion for BO because it allow for them to keep in contact and build relationship with their customers and prospects. It also allows BO to build awareness for news and promotions to anyone on the list.
This is important because it allows for BO to provide better service for their product and services. This site allows users find content for self-help and troubleshooting. In addition, the customer service page provides product support downloads for software and user guides.
Number of Visits in which the Form is Submitted / Total Visits in which the Visitor Started Completing the Form = Form Completion Rate
This KPI will measure how effective it is for users to complete the form. If the number falls than the form will have to reviewed. Bang will then have to look in deeper in-depth to figure out where users are having most difficulty and which field are users struggling to complete the most. If the rates falls suddenly than BO need to check their marketing efforts to as they may have obtain a large amount of unqualified traffic that are less likely to convert (Peterson, 2006).
Sum of Acquisition Marketing Costs / Total Conversion Events = Average Cost per Conversion
Tracking this KPI allows BO input a dollar value in generating the lead. If number goes up, BO would have to review to their marketing campaign. If the campaign is PPC, BO would have to review the keyword used to generate the visit and also review the landing page that users land on. BO can also need to segment which marketing campaign is effective and which is driving up too much costs so they can better allocate their budget.
Total Number of Demo Requested / Total Visits = Requested for a Demo Conversion Rate Conversion Rate
The measures the % of visitors willing to request for demo after landing on the page. BO will have a sense of the effectiveness of the website at generating this type of lead. If the numbers goes down, it means that the page has become less effective at directing visitors to the goal. BO may want to look into the effectiveness of their hyperlinks and menu navigation. BO can also review the goal funnel path to see where the drops are.
Total Number of Subscription Completed / Total Visits = Subscription Conversion Rate
This gives BO an idea of the % of people interested in signing up for their newsletter and how successful the blog is at generating subscription conversions. If the % of this KPI goes down, BO will need to pay attention to what is driving people to subscribe such as links on the landing page or on the blog. If there’s a sudden large drop in conversion rate, there can be a technical problem with the form.
Page Views / Visits = Average Page Views per Visit
This is a measurement how engaged visitors are at BO’s content. If the % goes up, BO should look deeper at what type of contents are visitors must engaged with and clicking on to the most to go to the next page. If the % goes down, BO should review the content is find out which pages users are bouncing on the most. If there’s a sudden drop, there might be a technical issue with the site such as: slow loading time, 403 errors and etc.
Total Number of Visits of Two Clicks or Less / All Visits = Percent Low Click Depth Visits
Total Number of Visits of Three to Five Clicks / All Visits = Percent Medium Click Depth Visits
Total Number of Visits of More Than Five Clicks / All Visits = Percent High Click Depth Visits
This measures the retentions of visitors who follows BO’s content and identifies the amount of loyal visitors they have coming to the site. If the % of high frequency visitors were to go down, BO would have to review their retention strategies and see if they are doing enough to drive people back on the site.
Total Number of Visitors Who See at Least One “Search Results” Page / All Visitors = Percent Visitors Using Search
This give BO an idea of how people are interacting with the site’s internal search engine. If the % of this KPI goes down, BO will need to pay attention to other KPI’s such as: percent zero results and percent zero yield searches. If the % goes up suddenly, it means that BO should have provided content for what people are searching. They will have to dig further into which queries that users are searching that product no results. A sudden decrease could means there’s technically problems with the search function or perhaps there’s a site indexing problem.
Total Number of “Zero Result” Searches / All Search Results = Percent Zero Result Searches
This gives BO an indication of how effective their internal search engine is generating results users searching for. If the number is high, BO need to look into the search turn themselves. Are the results the same as what is expected? BO can look to see if they are implanting the correct tags to keyword users are searching for and look into what other terms users are searching for.
Number of Completed Downloads / Total Number of Download Requests = Download Completion Rate
BO’s site has product support downloads for: user guides, software and drivers. This KPI indicates how successful users are able to complete their download of the file they require. If the number were to suddenly go down, it would indicate there might be a problem with BO’s server or the user’s internet connection. BO might want to compress the files so they are smaller. BO might want to examine to location of the users who are having trouble with download to figure out if the downloading errors are due to distance and slower downloads.
A successful visit for the users to enter the landing page and click on the “GET A DEMO” button on the top right menu. The users may be entering in on several different landing pages but the “GET A DEMO” button is always on the top fixed menu. To measure this BO will want to set up a goal for the confirmation page where users have successfully requested a demo. BO can set up the goal flow chart and examine the goal path of the user.
BO would want users to be engaged in the blog and not bounce off the page. After landing on the page, BO would want to eventually subscribe to the blog or end up in one of the other goals of the webpage such as “GET A DEMO” or “FIND A LOCATION”. BO can measure the path users take when they are on the blog. Which pages do they go to the most or which do they bounce on the most.
BO would want users to be able to find the solution to the problems themselves and as fast as possible. BO would measure this by looking at the time of the page on each of the pages for the customer service section. BO would want to look into their log and see what users are searching for the most.
Senior Executives require these metrics they can have a-glance awareness of his or her business’s objective and profitability (Peterson, 2006). The KPI would be at three things: Conversion Rate, Average Cost per Lead, Revenue, Percent Low Satisfaction Visitors, and Percent High Satisfaction Visitors.
The report will be in excel since this will be the format that executives are accustomed to utilizing. (Manion, 2010 ). The data would be distributed via email using the BLUF method which opens with a quick summary of the important point of the data (Peterson, 2006).
Marketing Manager will require these metrics because it effects how their decisions making for marketing campaigns. Marketing Managers will want to know about the same KPI that executives know with additional more contextual KPI’s such as: New vs. Returning Visitors, Conversion Rates for Different Visitor Segments, Conversion Rate for Different Campaigns.
The report will need the additional context contained in a detailed spreadsheet (Wade, 2009). A link to the context can be provided next to the dashboard numbers. Marketing Managers will also want to have a shared view on an analytic software if the company is using one.
Web Production Team will need to know metrics that will can measure web performances and set benchmarks. They will also need to be aware of sudden spikes in data to spot a possible technical issue with the site. Web Production Team will have to be aware of KPI such as: Zero Yield Search, Download Completion Rate, and Form Completion Rate.
BO will be challenges in setting up events tracking in pages that have videos and some flash features. Cross-domain tracking would need to be implemented for tracking users moving from bang-olufsen.com to beoplay.com. It would also be best that BO create a separate filtered views to segment out customer coming into their site for different purposes. Separate views should be created for: the blog, beoplay.com, customer service section. BO should also keep a master unfiltered copy of everything together as well. Calculating download completion rate would also require that BO go into their download log files and measure if each attempted download matches the size of the KB of the files requested.
Manion, J. (2010 ). KPI Dashboard Best Practices. Retrieved from Stratigent, LLC: http://www.stratigent.com/community/websight-newsletters/kpi-dashboard-best-practices
Peterson, E. T. (2006). The Big Book of Key Performane INdicators. Web Analytics Demystified.
Wade, C. (2009, April 2). Web KPIs: What they are and what they mean for your business . Retrieved from mycustomer.com: http://www.mycustomer.com/topic/marketing/web-kpis-what-they-are-and-what-they-mean-your-business