Wednesday, February 5, 2014

BUS 572-2 Blog--Utilizing Conversion Optimization and Multivariate Testing

During the past week, the most important topics I learned were conversion optimization and multivariate testing. As defined by Qualaroo, conversion optimization is:

"...the method of using analytics and user feedback to improve the performance of your website. CRO can be used to improve any metric on your website that’s important to your business–often called key performance indicators (KPIs)–that you’re trying to improve, but it’s often associated with acquiring new customers, registrations, downloads, etc. Put another way, it increases the percentage of website visitors who experience the “aha moment” (or the must-have user experience) that turns passive browsers into valuable conversions."


Multivariate testing "...allows you to test many variables at once and still determine which version of each variable has a statistically significant effect on your outcomes. For Websites, there are a number of vendors who will host pages that are being tested in this way remotely, if you do not have the technology to do this in-house...Successful testing relies on having clear objectives to begin with, and sufficient traffic to warrant such detail" (Stokes, 2013). 


I enjoyed learning about conversion optimization because it is so practical and convenient; why wouldn't a business want to know exactly how they can catch and keep more customers? I also enjoy the concept of multivariate testing because I think it's essential to look at things in a holistic, inclusive way. It does not make sense to only use one method when the right combination of methods will yield the best results. How does the class want to utilize these tools/knowledge in their professional and maybe even personal lives? Being an MBA student, I want to use these tools for my own business interests. It is so exciting, encouraging, and empowering to learn how to use these tools that are often free and easy to utilize. The opportunities are endless!


The most important skill I learned about these past two weeks is knowing how and what to test using web analytics and Stoke's three-prong approach: "Analyze behavior data that infer the intent of a Web site’s visitors, Analyze outcome metrics that show how many visitors performed the goal actions on a Web site, Test and analyze data that tell us about the user experience" (Stokes, 2013). 


It makes a lot of sense to me that businesses can learn how to better serve their customers online by observing their intent behavior data, including what they search for, why, and what they hope your site will solve for them. This allows businesses to be in the right place at the right time, serving the right customers on the web. This made me think of our conversation with Brenda Decroo. As of now, she wants to directly target customers who seek leadership coaching, as well as businesses that want to have coaching for their staff. Ms. Decroo's business also has its own personality test that is a unique selling point. She helps her clients find out who they are and then direct it to their careers and personal lives; this is what makes her different than a professional development consultant. 


Brenda DeCroo. The Abundant Business Coach Sarver, Pennsylvania 
The concluding aspects of online marketing I learned this week are putting our group on the right track to helping our client, Ms. Decroo. The things I learned are a starting point for Google Adwords and they provide the foundation we will need for a successful campaign and continued success in the future for ourselves and for our client. It is challenging to work with all of the technology, as this does not come naturally to me and is constantly changing. But at the same time it is exciting because I am finally able to learn more about it in a positive setting. I look forward to learning about Google Adwords in more depth so that I can help Ms. Decroo more. 

4 comments:

  1. It's great you are so enthusiastic about helping your client! I also struggle with new technology and learning to use AdWords has been difficult for me as well. I agree with you though, it is exciting to learn Google's technology no matter how stressful and new the technology is. It is definitely an interesting experience.

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  2. Carmen, I believe I can see what you mean concerning the conversion rate optimization. Simply looking at conversions for me was something that was new. I wasn't aware what a conversion was until I took the quiz itself. But when I look at the analyzation of the data, we will be looking at several pieces of data and having to sift through what is more important and prioritizing those pieces of data. It is almost daunting the verious levels of analysis that we can use within this course. I am prone to one type or another and will have to fight the desire to use only one or two and look at all types to make reasonable and sound judgments. Just curious, what do you find is the most helpful analytical part of this task when it comes to Google Analytics?

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  3. Hi Carmen, thank you for being so positive! I know AdWords can be frustrating so it's also good to come prepared with a positive attitude! Also please ask questions that other members of the class can respond to.

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  4. "How does the class want to utilize these tools/knowledge in their professional and maybe even personal lives?"

    Drue, It is hard to say what is the most helpful part. But I would have to say knowing how many people visit your site is probably the most important. They all build off of one another.

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