Digital Analytics Flashcards
(37 cards)
What is Digital Analytics?
Digital Analytics is a set of tools for tracking how users (potential customers) interact with digital marketing; data collected by online tracking tools; data analysis from all digital channels, including websites, applications, emails, etc.
What are advantages of Digital Analytics?
Advantages of Digital Analytics is:
- reach more audience effectively
- measurable outcome
- high ROI
What is Google Analytics?
Google Analytics is a specific web analytics and app tool provided by Google that tracks and reports website and app performance; one of the most commonly used tools in Digital Analytics
Why is Digital Analytics Valuable?
Digital Analytics is Valuable because we can measure many different aspects of the Purchase Funnel in MKT:
- Track online behavior
- Use data to make decision about how to reach and influence customers
What is Web Analytics?
Web Analytics is a way to track and measure online user behavior so that we can optimize the conversion and results we are seeking
What are the Two Functions of Web Analytics?
- Analysis
- Implementation
What is the Analysis Function of Web Analytics?
What is the Implementation Function of Web Analytics?
How does Web Analytics Work?
Web Analytics collects data from your websites to create reports that provide insights into businesses:
▪ Gathering the data about the traffic on a website
▪ Provide summary reports of this data
Why do we study Web Analytics?
- Measure current website behavior
- Optimize your website to achieve behavior goals
- Use available data to increase conversion
- See how traffic acquisition, on-site behavior, and how they affects conversion rate
What are KPIs for Evaluating a Website?
- Traffic
- Conversion
- Revenue per Conversion
What does Traffic (KPI) look like when evaluating online retail?
- Sessions: a group of events recorded for a user in a given time period( by GA4). It refers to the number of times any user visits your website
- For example, a single session can contain multiple page views, events, social interactions, and e-commerce transactions
What does Conversion (KPI) look like when evaluating online retail?
Conversion (KPI) is an action that‘s counted when users/customers interact with an ad or free product listing (i.e. clicks a text ad, views a video ad) and then takes an action that you’ve defined as valuable to your business (i.e. an online purchase, a call to your business from a mobile phone)
How are Conversions Measured?
- Conversions are measured with conversion rate
How are Conversion Rates Calculated?
Conversion Rates are calculated by simply taking the number of conversations and dividing that by the number of total ad sessions that can be tracked to a conversion during the same time period.
- EX: if you had 50 conversions from 1,000 sessions, your conversion rate would be 5%, since 50 ÷ 1,000 = 5%.
What does Revenue per Conversion(KPI) look like when evaluating online retail?
Revenue per Conversion:
▫ Average order value
▫ Revenue per session
In the Example below, does the business gain or lose money from the ad channel?
▪ Example:
- Cost per session (CPC) = $2.00
- Revenue per session (RPS) = $1.50
Lose
What are Leads?
Leads in marketing refer to any individual or organization within your MKT reach who has interacted with your brand way or has the potential to become a future customer
What is Lead Generation?
Lead generation is the process of generating consumer interest for a product or service to turn that interest into a sale
How do we use KPIs for Lead Generation?
The KPI we use for Lead Generation are:
- Users (also refer to close rate and closed deal value) as influencing management of the website
- Why Should a Lead Generation Site Use ‘Users’ as a KPI Instead of ‘Sessions’?
- Which was the traffic KPI chosen for online retail websites?
How do we use KPIs for Media (Subscription & Ads)?
▪ Traffic: Sessions, Users (non-subscribers)
▪ Conversion: Pages per session, Sessions per user (per day)
- Conversion rate: New Subscribers / Users (non-subscribers)
▪ Revenue per conversion: Revenue per subscription, Trial conversion rate
