Funnel Analytics the Way Forward for E-commerce Market?
In this Convert Academy webinar, Nemo Chu talks about funnel analytics and its importance in the E-Commerce Market. While mastering ROI equation is vital in funnel analytics, it is not enough. You will also need to understand how to apply it as well. The conversions are all about tricks and avoid being fooled. Nemo Chu has a WEBINAR that clearly shows how AOL CDs back in the 90’s gained 10 dollars for every 1 dollar they spent on this venture.
As you all know, the A/B tests are supposed to help each E-commerce marketer. It is the element that lifts their website pages. When you take a good look at the AOL CDs, you will see that the challengers converted it four times, and each time is better than the last. If you compile 100 marketers at random and ask them for the formal A/B status testing back in 2012, you will most likely discover the same thing.
The Report That You would have Got Through
After they would have given their formal report, you would find important information on this. This includes the fact that a majority of the marketers do not have any idea if there is any testing efforts that grow the business. Others that do understand and know how to do A/B test, however, only run A/B tests that does not grow their business.
This is the biggest problem marketers face. Even though marketers have a goal in mind doing what they do, they end up moving in cycles due to the reasons stated above. This does also apply to direct marketers. According to Nemo Chu’s webinar, there was a statistic conducted and it showed a big disconnect between reality and theory/philosophy.
The Tricky Situation Marketers Face
Majority of E-commerce marketers are using basic analytical tools that tell them which A/B test was the best. With the information they get, they make serous decisions. This causes them to go round in cycles every time they want a test.
However, ask yourself this question; What if the tool provides you with more data? Now that would really be interesting, right? Kissmetrics is a revolutionary funnel analytics website that uses people-based analytic tools. Kissmetrics tells you what is happening in your website. And the data is detailed, giving you a clear idea on what to do next. According to Kissmetrics’ Funnel Survival Guide, funnels allows us to:
- Determine what steps are causing customer confusion or trouble.
- Figure out what language or copy might be altering our customer’s emotional behavior during checkout or sign up.
- To be aware of bugs, browser issues and other technical nuisances.
Whether people are attempting to sign up for your online service, or purchase a product from your website, there will be a certain number of steps they will have to take in order to give you money – KISSmetrics
Are Your Customers Equal?
This is a question a good question any E-commerce should ask themselves. However, before you answer this question, assume that you are using such a tool that gives you full funnel analytics. In addition, your competitors are getting more views or customers than you are. What will you do as the marketer?
I think by now you can see how tricky it can get. For any good marker who knows what he wants, he will require more data before going ahead and making a decision. Remember,
[Tweet “Getting more detailed data increases the scale of the decision taken positively”]
Overall, we can all agree that good funnel analytics is the best way to go, since you will receive accurate data from every client you have. These data will answer your questions. Through Nemo Chu’s webinar, you will clearly see this.