step by step analysis warm-up

In the spirit of World Cup these days I thought the above picture would be appropriate for our analysis warm up – so lets suit up and start stretching :)

Step by Step analysis frameworkIn part 1 we went through how to create our list of rocks to look under. In this post we’ll be focusing on our next step in our framework, Analysis warm-up.

Kicking the tires
What I mean by analysis warm up, is that I’m not into all the heavy duty reports yet, but are instead trying to get context. I’m basically kicking the tires. It is impossible to do good analysis in a vacum, so what you want to do is review the The process of kicking the tires for an analysiswebsite. Skim through all their variables used for Reports & Analytics (SiteCatalyst) and slowly dive into the data and answer some really basic questions. Questions that aren’t likely to generate any value. But rather questions that gives you context from the situation you’re doing analysis. How many pages do you have on your site? How many domains does the site span over? What are the average benchmarks for your main KPIs? What pages are visitors entering on? What pages are they leaving on? How do most visitors arrive on the site?
As you can see, basic type things to get you wamed up and get you in the mood for analysis.

If you look like a big question mark…
Because you have no idea how to answer the above questions, then no need to worry. If that’s the case, then use the below graphic.step by step analysis metrics to checkAnd check each of these metrics against the following reports:

  • by site section
  • by page type
  • by external marketing campaign
  • by internal promo campaigns
  • by internal search terms
  • by product or product category

To view by product, change:

  • Visits to Units
  • Yield to ASP (Average Selling Price)
  • Conversion Rate to UPT (Units Per Transaction)
  • Visits to ProdViews
  • Yield to Prodview Yield
  • Conversion to Product Conversion

This should help get you started. If you’re interested in other calculated metrics availalbe within Adobe Analytics, have a look at the following KB article.

Results from my warm up analysis
From the warm up analysis I did for our bank, Giant National Bank, this is what I found:

  • HUGE percent of their site traffic are return visits
  • Most visitors immediately navigate to secure pages (Online banking/netbank)
  • 54% of external campaign click-throughs are for returning visitors
  • 20% average application completion rate
  • 0,045% average application conversion rate

For banks it is very common that the majority of the traffic are return visits and that most of the visitor comes to the site with the purpose of logging in to the online banking. Often also referred to as the secure pages (at least here in my region). Online banking is where you go and make money transfers, check your statement, pay your bills, etc. As mentioned, this is quite common for banks. Now, I also learned that 54% of click-throughs are generated by returning visitors. Without having anything to back this up yet, it does seem like they are spending time and money to drive existing clients to the site.

Not a lot of comments to add to the average application completion rate (application completes / application starts). It is just simply a good benchmark to have. The last finding I did was the average application conversion rate of 0,045% (application completes for new accounts / visits to site), which is absolutely terrible. This points back to the fact that most traffic on the site is existing customers that immediately log in in order to use the online banking part.

Next step
As you can tell, I now have a pretty good feel of the site and what is going on. The results from the warm up analysis is not used to come to any conclusions, it’s just simply to get a feel for the overall performance of the site.
Take a note of the above numbers as I’ll be referencing them in future posts.

Next, in part 3 of our step by step analysis, we’ll dive into the analysis and begin looking into the rocks we idenfied in part 1.

Leave a Reply

Your email address will not be published. Required fields are marked *