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Set Your "Sites" on Success
with eMarketing Metrics
One of the most significant pitfalls
facing business managers and marketers today is the lack of a universal
eBusiness metrics standard to gauge success and justify online
investments of their time and money. To successfully measure your
Web-based ROI, LTY brings you five basic principles of eBusiness
Performance Management (eBPM) to help align your sites' Web performance
with your overall business objectives.
1. Start with Strategy
Know the top-level goals of your
company inside and out and apply these to your eBusiness strategy. For
example, these might include driving the cost of sales down, increasing
brand awareness, growing revenues or improving customer satisfaction
ratings.
2. See Success
Envision up front how your Web initiatives can support your overall
business objectives. Who is the target of your next eBusiness campaign?
Who will it serve? Who do you expect to sell to? If your eMarketing
program were an offline initiative instead, how would you measure it?
3. Measure Early and Often
Throughout the program, even hours after launch, it is important to
assess results, even preliminary, so that execution can be fine-tuned
throughout a campaign. Understanding results is not a "post mortem"
task.
4. Design and Plan
Plan for how your
vast data reserves not only will be mined and stored, but how the
company's key decision-makers can readily leverage data from disparate
sources - e.g., customer databases used by sales and service, sales
transaction records stored in the corporate mainframe, etc. - to
complement your Web-based initiatives.
5. Make it Real
Share results - both successes and failures. eBusiness stakeholders -
executives, line of business management, and others - must have access
to critical information so that timely and accurate decisions can be
made. Killing an unsuccessful Web-based program early can still be
considered a "win."
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