Category Archives: Web Analytics
Many retailers struggle with connecting with customers’ desires and needs. But instead of relying on sole instincts and trial-and-error tactics, retailers should develop their own predictive analytics models to find the right untapped opportunity. They should begin much sooner than later. Retailers in various markets are realizing the potential of their efforts, becoming significant competitors as a result.
Predictive analytics is the rollup analysis of data that determines an anticipated outcome. For retail, this means determining customer segment behaviors through evaluating data patterns related to that segment. Data for advanced predictive models can be from numerous platforms requiring a mix of software and programming to reveal insights. For example, the R programming language is a popular choice to combine with analytic packages to create predictive models for numerous business scenarios.
Demand for predictive analytics is increasing. O’Reilly noted in a Strata article that business analysts are increasing interested in more complex data modeling. And Gartner noted that by 2016, 70% of most business processes will incorporate real time predictive analytics to establish a competitive advantage.
Applying predictive analytics can lead to developing robust process controls that ensures an organization a better chance to choose the right investments or activities.
Price management is a prime example. IT can monitor tech costs associated with a price management campaign, from website maintenance to inventory-related systems. Thus IT teams impacted by predictive analytics can direct resources on tasks that will likely raise or lower costs. Furthermore, the ongoing nature of a price management campaigns can encourage better supply chain management. This can lead to further cost reductions and improved operations.
A recent Forbes article highlights a few examples that analytics firm ForeSee has observed. Hickory Farms, Perry Ellis, and NFLshop.com all saw incremental increased sales through strategic usage of predictive analytics. And last year Chain Store Age noted how grocer Safeway achieved sales success with “Just For U”, a personalized pricing card program for shoppers. Personalized pricing is derived from predictive analytic measures.
To their best capabilities, predictive analytic models address the management of uncertain future outcomes within the organization. No one knows the future with a certainty. But a solid predictive model can provide an important indicator of what profitable activities are best pursued.
Need to raise your online sales? That means raising conversions, and these days, it means considering a remarketing program to make higher conversions possible.
Remarketing is one of the newest techniques being used in paid search. Remarketing is a strategy in which an ad appears after a webste visit. Its purpose is to provide a “reminder” to a site visitor to come back and make a purchase, register for an event, or to sign up on the website. Think of it as a conversion reminder, because a remarketing campaign is meant to remind a visitor to comeback to a site.
Before making the first steps to create remarketing lists, make sure you or someone who will be responsible for the list has administrator access to the Google Analytics account, as well as someone who can modify the code to accommodate the remarketing protocol.
Modifying the Analytics Code
To create a remarking campaign, you must add a remarketing tag, a small snippet of code. The code is applied to all your site pages exactly like that of a web analytics code.
The revision is based on whether the site is running Universal Analytics (analytics.js) or the previous version (ga.js), but in both protocols, the change is a minor line revision. For GA, you can replace the following line in the GA tag…
ga.src = (‘https:’ == document.location.protocol ? ‘https://ssl’ : ‘http://www’) + ‘.google-analytics.com/ga.js’;
with the following line:
ga.src = (‘https:’ == document.location.protocol ? ‘https://’ : ‘http://’) +
For Universal Analytics, adding the following line to the script is required, instead of a substitution:
- The capacity for display advertising.
- Implemented Google Analytics features based on display advertising (e.g., remarketing).
- That visitors can opt out of Google Analytics for display advertising and customize Google Display Network ads using the Ads Preferences Manager.
Creating Remarketing Lists
- Select the profile from which you want the lists to be built from.
- Select the simple list type. You can have a list for several different configurations such as:
- all your visitors,
- visitors who visited a subsection of your site,
- visitors who completed a goal.
The lists can be viewed within the linked AdWords account.
Once a remarketing list has been created, a new Adwords campaign can be launched. The remarketing list can be added to an ad group. If more than one remarketing list is added to an ad group, the ad group will target all of these lists. This means that a remarketing list is treated as an ad group (or as a sub-ad group if two or more list are added. Either way, it also means understanding an Ad group is essential to maintain the right digital message for a campaigns)
Remarketing has revitalized digital media marketing. Clickz noted remarketing as one of the top trends in 2014. Remarketing has particularly rearranged the value that paid search can have in a given strategy. The benefits include:
- Remarketing can increase conversion rates by reminding customers of an offer. The tactics focuses on the audience that does not convert initially but may have potential interest that is never developed further because no media is there to remind them
- Remarketing tailors marketing to the intended customer segment by setting triggers that a segment uses regularly on a site
- Remarketing can strengthen brand message by reducing the number of messages that appear on different media. The multiple combinations of message and media can confuse and annoy customers.
- Because message confusion is reduced, remarketing can enhance communication with customer. This is valuable as customers increasingly see marketing offers and messages across multiple devices
Ultimately remarketing can enhance marketing message to a fragmented customer attention span. What other benefits can remarketing offer? Share your thoughts and questions below.