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Turn Web data into online strategic direction
What would you do if you knew for a fact that 50 percent of all prospects who spend 10 minutes or more learning about your product line and view at least one of your competitive comparison charts go on to buy one of your products? You would focus your marketing efforts to drive this kind of behavior, or at least make it easier for prospects to find this information, right? Well not only does Web analytics make this kind of insight possible, but it also helps you determine if such sales are profitable in the short term and the long term.
By analyzing search engine data that show what happened before people got to your site along with Web site data that tell you what these people then did on your site, you can better manage your keyword bidding, site optimization efforts, affiliate programs … basically your overall SEM investment. What's even better is that analytics is not an all or nothing game. While Lisa Wehr, founder and CEO of Lake Leelanau, Mich.-based search engine marketing firm Oneupweb, says it's "shocking how many marketers still don't even track their SEM and online activity," she notes that even the most basic analysis can produce real results.
What Are You Tracking?
Just as you could in the offline world, you can gather data on just about any permutation of online activity. But the online space provides even more options for slicing and dicing. How sophisticated you get depends on what you need to know to make an impact on your SEM investment and the resources you have to track, analyze and act on this information.
According to Josh Stylman, managing partner of SEM services firm Reprise Media in New York, marketers should focus on those metrics tied to their program goals, such as sales, leads and ad impressions, and the costs associated with driving these actions. To do this, you will need to look at the "building blocks" to the metric. In most cases, this involves determining what percentage of people might be exposed to your search engine link; what percentage of this audience is likely to click on your link; what percentage of this group then is likely to progress past your homepage; etc. This exercise gives you a starting point against which to measure your campaign performance and test options to improve your return.
A search expert breaks down marketers' SEM tracking tool options
To help you navigate your way through the various online analytics reporting options, Target Marketing spoke with Sara Holoubek, a free agent who serves the interactive advertising industry and its investors, and who sits on the SEMPO (Search Engine Marketing Professional Organization) board of directors.
Target Marketing: What options do marketers have when it comes to tracking SEM performance?
Sara Holoubek: When working with an SEM agency, it's very common to use that firm's tool. Some charge a monthly fee, while others bundle it into the package. Third-party tools for bidding, tracking and reporting are also available, whether you're using an SEM agency or not. In this category are the Web analytics tools that have incorporated media tracking over time. Finally, I have seen a few major online marketers with their own homegrown reporting tools, but this requires serious investment.
TM: What factors affect SEM reporting tool selection?
SH: Before entertaining any sales pitch, make sure you understand how search will be judged within your own organization. Be honest about your firm's needs in advertising tracking. Is your CMO metrics-hungry? Or does she simply want a singular, consistently formatted report? Prioritize the specific metrics and how they might change in the future. Perhaps you have solid, natural and paid programs today, but will you engage in pay-per-call or video search tomorrow? Will e-mail, banners and search all need to be reported, side by side?
After outlining your dashboard needs, have a frank internal conversation about budget. This is a good check-and-balance as to how important budget is, and prepares you to go shopping.
The relationship with your vendors also will affect your decision. If you have a good relationship with your SEM [agency], but feel that the reporting tools are not as robust as they could be, a delicate conversation is in order. Likewise, if you are bringing an SEM [agency] into the picture, your Web analytics firm might feel rebuffed.
Finally, the tech resources required on your end should be considered. In most cases, implementation is relatively easy. That being said, clarity on who is responsible for "outages" [the times when search reporting operations are down due to Web server failures, etc.] should be detailed early on.
TM: What are the benefits of the different reporting tool options?
SH: The benefit of using an SEM agency's tool is that the entire team is well-versed and the developers are close at hand. For top-tier SEM firms, there is likely to be more customization, or the ability to resolve a technical glitch.
The primary benefit of using a third-party tool would be confidence in the tool's robustness. These are well-
capitalized product firms, whereas SEM agencies are primarily service firms. Almost all third-party tools will measure search along with other online advertising metrics, resulting in a seamless report.
TM: Any disadvantages?
SH: While the SEM agencies' tools are definitely sufficient, they are designed for search and search alone. If you are shopping for a singular, comprehensive tracking tool for Web analytics and online advertising metrics, it might make more sense to go with a third-party tool.
On the other hand, if you need a high level of confidence in search bidding, tracking and reporting, it would be wise to select a tool from a company that is dedicated to fine-tuning its [product]. Remember that every change to a paid search provider's program will need to be incorporated into the tool.
Sara Holoubek can be reached at saraholoubek@gmail.com.
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