6.1. Hacks 8190: IntroductionThe online retail model is fascinating from a web measurement standpoint, if for no other reason than because it is so easily measured. The ability to correlate marketing expenditure and revenue acquisition in nearreal time is both satisfying and useful, allowing online marketers to rapidly optimize their strategies to provide the greatest return on investment. Plus, since online retailers have so much invested in web site measurement, many vendors have built out their applications to specifically support the business model, some deploying whole modules for merchandising, others tightly integrating commercial aspects into their non-commerce reporting. Billions of dollars are spent each year online; estimates put online retail sales in the U.S. at $66 billion in 2004, growing to $130 billion by 2009six percent of total U.S. retail sales. With this much money changing hands, it's no surprise that online retailers are intensely focused on understanding how their marketing dollars are being spent and where their sites can be optimized to increase sales. Additionally, it is estimated that by 2009, nearly 70% of Internet users will be making purchases online, highlighting the need to ensure that the buying process is not just "OK" or "good enough" but instead "delightful"processes that will encourage people to come back again and again. Given the amount of investment in web measurement applications that online retailers have made in the last few years, it's not surprising that many of the published best practices and case studies revolve around selling online. Each of the top vendors has at least one description of how they've helped an online retailer improve the quality of their marketing or merchandising, literally paying for the application time and time again. A few examples of initiatives in which web measurement played a key role include:
The important thing to keep in mind is the continuous improvement process and the idea that many small gains eventually add up. Put another way, if you read and run the hacks in this chapter and aren't immediately able to make changes that yield a six-figure return on your investment, persevere. Often it's a function of trying the right combination of changes, balanced against the proper insight, and managed over time. Still, you can rest assured that your investment in web measurementprovided that you treat it as a serious investmentwill pay off for both you and your customers. |