Part 3: Measure the Success
Just as important as the approach marketers take to web personalization is how they measure the success of their campaigns. Collection, measurement, and analysis of user data empowers marketers to better understand customer behaviors and ultimately optimize web presence and increase ROI.
According to a recent study, the majority of marketers currently have the tools in place to measure the benefits of website personalization, with most marketers (58 percent) looking at conversion lift as the primary goal. In web engagement campaigns, the conversion lift metric is a holistic look at which visitors took the desired action or activity the marketer is incentivizing them to take. To improve conversion lift, businesses can personalize each customer’s web experience, effectively removing the barriers between browsing for an item and finalizing a purchase.
Increasing conversion rates is an objective that spans a number of different digital businesses, from retail to entertainment to publishing. This metric is an indicator that the content being delivered to visitors is relevant and facilitates their decision journey. This metric goes beyond measurement of click through rates by offering a more complete view of the performance of a specific ad, discount, or any other strategy the marketer is taking to engage with users.
The second and third most important metrics according to marketers for measuring web personalization campaigns are time spent on the website and revenue lift (40 percent and 39 percent, respectively). The amount of time a visitor spends on a particular site is directly correlated with the experience. A recent case study of a lifestyle brand revealed that personalized web content resulted in 70% increased time on site, 25% improvement in bounce rate and 45% more pages per website visit. Thus, when brands target content that is relevant to a consumer’s interests and past behaviors, they are inclined to spend longer periods of time on the website, leading to increased conversions and ultimately increased revenue.
Measurement of these KPIs will give marketers insight into how their website personalization campaigns are performing and allow them to adjust accordingly. The appropriate metrics help marketers can follow along on the customer journey to build a deeper understanding of each visitor and, specifically, which engagement tactics elicit which response(s). Once identified, these catalysts portray a comprehensive picture of the buyer and marketers will have greater success in reaching their engagement goals, both short-term and long-term.