analytics.md

#Analytics

##Google Analytics

JavaScript

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Jade

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##Common Metrics

• LTV - Lifetime Value
• CPA - Cost per Acquisition
• VC - Viral Coefficient

##Glossery

###Viral Loop The viral loop speed is determined by the viral coefficient. The higher the viral coefficient the faster the procuct will spread. The viral coefficient measures how many new customers will use a product as a consequense of each new customer who signs up. For a product with a viral coefficient of coefficient of 0.1, one in every ten customers will recruit one of his or her friends. A viral coefficient of less than 1.0 will mean that less and less people sign up. On the other hand a metric greater than 1.0 will grow exponentially.

Companies that depend on viral growth often have indirect revenue models (ie advertising) as they do not want anything to impede viral growth.

###Product/Market Fit This refers to the moment when a startup finally finds a widespread set of customers that resonate with its product.

###Visitors A visitor is any device which is used to access a web page. It may be a person or bot. One person may register as multiple visitors if they visit a site through different devices (ie work pc, phone, tablet etc).

###Visitor Session How long a visitor was on the site and what pages they looked at. A typical session times out automatically after 30 minutes. If a person goes on lunch and log back in afterwards this is registered as another session.

###Unique Visitors The number of identified visitors to your website over a specific time period. Unique visitors are determined by dropping a cookie on the device that is accessing the web site. A user may have multiple devices and therefore show up as multiple unique visitors.

###Returning Visitors These are devices who have previously accepted a cookie.

###Referrals How did the user come to the website (ie Search Engine, Website, Forum, Social Site, News, Email, Campaigns). Sometimes it is not possible to find how the visitor was referred (called No referrer). Visitors can also go straight to the website (called direct).

###Bounce Rate This refers to visitors who enter the site, see one page and leave. This may be seconds or minutes. Why did they get to the page? What were they looking for? Did they already find the information they needed (ie the phone no)?

####High bounce rates = bad

• Always a reason
• Can be good
• Be curious, but not obsessed

###Exit Rate This refers to visitors who have visited more than one page and denotes the last page in the session (ie what page were they on when they exited the website)

• Must be measured in context
• Evaluated by the page and the visit

###Conversion Rate Basically conversion rates are visitor actions that make money, or visitor actions that will lead to money, or things that don't make money, but could. Ultimately, the conversion rate is the measure of what you want visitors to do on your site.

####Conversion Rates = Goal

• Sales
• Leads
• Contact forms
• Comments
• Video views
• Page Views
• Dwell time
• Ad click
• Subscriptions

####Conversion Rates are:

• Monetary goal
• Action goal
• Engagement goal

##Goals

• Where did visitors come from
• What did they do
• How do I respond

##Data and Context Raw data is only meaningful when it is viewed in context. The context tells the 'story'. To understand the context is is necessary to know the following:

• Motivation - What was the users motivation
• Purpose - What were they trying to achieve
• Factors - What factors were involved.
• Who are they?, What did they want?, Why did they want it?, When did the come?, How did they act on the website?

###User Groups What does the group have in common?

• Search term
• Source
• Action
• Result

What does the group have that is unique? What distinguises this group.

• Behavior
• Search Term
• Source
• Objective

##Segments Different groups of people who use your website. You cannot treat everyone the same.

• What types of visitors do you have?
  • Name 5 types
• Why do people come to your website? (purpose)
  • Give 5 reasons

###Segment Characteristics

• What do they look for?
• What is important to them?
• What are they trying to accomplish?
• What can you predict?

###Segment by

• Motivation (Search Terms)
• Action (Viewed a video, Added a comment, read an article - determines the level of engagement)
• Result
• Source (Search Terms, Direct domain access, source website)
• Choice
• Time (How long do they spend on the site?, Do they only access at certain times of the day?)

###Power of Segmentation

• Measure groups of similar visitors
• Visitor patterns provide insight (what might be working or not working for the group)
• Behavior analysis becomes clearer
• Specific actions to improve are obvious
• Sources of visitors show differences in value

###Setting up Segments

• Identify "anchor" search terms
  • Central term to multiple phrases (ie CRM (general) -> CRM Vendors (more specific))
  • Abbreviated enough to cover plural/multiples
  • Look for predominant themes
  • Refine segments for "small bucket" segments

###Source Determines Behavior Different sources indicate the level of engagement of the user. For example, in decreasing levels of engagement:

• Blogs & Articles
• Social Reviews/You Tube
• Discussion Forums
• Search
• Social News
• Twitter