How to Measure Performance of Digital Channels
Updated: Dec 10, 2020
In order to measure digital channel performance of our products , we first need to know our digital channels well. This requires 2 step knowledge. You might be one of those people who would know your product very well but believe me most digital marketers measure their products with wrong information.
First we need to know services and products we offer on digital channels by platform and by technology since everything depends on the technology. For instance if we are selling products on our website , we must know customer experience through this online sales process, we should know how customers move from one step to another and how customers complete a transaction successful. You should not jump to quantitative analysis without understanding the customer experience you are offering on digital channels. This would also include knowing your industry, business and your company. If you start crunching numbers with lack of know-how, I can guarantee you that you will end up with wrong and sometimes funny results . I have seen it all. You would need to handle Walmart’s data e different than Amazon’s data. Data is only meaningful with content and category. This step will be also very useful later when you receive so much data. At the end data science is cleaning irrelevant data so that real relevant patterns can appear.
Ok let’s say you know your business, industry , company, products and technology well, now you are ready to create some quantitative insight. One thing is for sure. When you know your business and products very well, you would not need to get lost in data that much. If you know most of your valuable customers come from mobile, then you would focus on mobile, you will not spend time comparing mobile with desktop, cause you already know.
At this stage I ask 7 questions to categorize channel knowledge.
1)WHO is coming to my digital channels? Visitor Analysis
2)WHERE do they come from ? Traffic Analysis and Campaign Analysis
3)WHY do they come? Content Analysis
4) WHAT do they do? Navigation Analysis
5)HOW do they behave?Navigation Analysis
6)DO they achieve their visit purpose? Funnel, conversion and UX/usability analysis
6)ARE they coming back? Loyalty analysis
This is the basis of all your digital channel analytics. If you start this way, then you can start to understand data better. Understanding data better means you will start to learn your customer behaviors which will show you some problems and opportunities. On my next articles I will try to explain each of these analysis methods