In many columns I've written over the past four years, I've discussed the many opportunities to improve a Web site. The real issue is determining where opportunities exist and what initiatives to pursue.
Resources and time have always been in short supply compared to the opportunities and initiatives people want to roll out for any Web site. In a slowing economy, this is more of an issue than ever.
How many ideas for improving your Web site have been tossed around? What percentage of those will get accomplished in the next 30, 80, or 180 days? Most likely, the number of opportunities greatly outweighs the number that can actually be accomplished over the coming months. If this isn't the case, you aren't looking hard enough!
In previous columns, my colleague Shane Atchison and I have outlined the power of assigning dollar values to different site behaviors and monetizing the Web channel to better understand the impact of different online interactions with your business.
The ClickZ/ZAAZ Optimization Calculator allows you to forecast a potential ROI (define) with just a few easy entry fields. After you read this column, you will want to click here and bookmark the calculator page. There are a lot of different ways to determine how to monetize visitor interactions, but this is one way that we use internally at our agency to help our clients prioritize opportunities. But the process can obviously get much more complex.
Now let's get into how to use the tool, which has three key sections:
Remember, you don't need to be exact on the values or percentage lift, but try to be consistent with your estimates. This is a tool to determine the estimated impact. You'll find that you sometimes estimate too high and sometimes too low. At least you're drawing a line in the sand and aiming for something.
Use this tool as a way to prioritize your opportunities, forecast the impact of initiatives, and of course measure the impact of actual tests or changes you make to your site. Share this with your team and commit to using it for all initiatives as they are being prioritized and after they launch.
Keep track of your wins and losses. Talk about the financial impact of initiatives you roll out rather than jumping to the next project, just happy you finished the previous one.
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As the Chief Performance Marketing Officer for POSSIBLE, Jason supports the agency's global Marketing Sciences and Media Services programs.
His primary role is to help POSSIBLE teams and clients use data to craft digital strategies that attract, convert, and retain customers - maximizing ongoing ROI across paid, earned, and owned channels. He believes that brands can better serve their customers by understanding audience behavior, and that messaging should be targeted to individual customers through the use of testing, behavioral targeting, and CRM initiatives.
Jason has written extensively about digital analytics, optimization and digital strategy, including an ongoing column at ClickZ.com. He is the co-author of "Actionable Web Analytics: Using Data to Make Smart Business Decisions," which is one of the leading texts in the field of digital analytics. His client roster includes Microsoft, Nike, Nokia, Dell, Ford, Sony, PayPal/eBay, P&G, Alcoa, Expedia, Mazda, Intel, and Motorola, and more. Jason is a frequent speaker at conferences and seminars around the world ranging from the Cannes Lions, Adobe Omniture Summits, eMetrics, SES, ad:tech, BazaarVoice, and many other WPP events.
Follow him on Twitter @JasonBurby.
June 18, 2013
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June 20, 2013
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