I’ve been doing some analytics work using Google Analytics, and decided to up my game with a Master Certification. I researched several options, but settled on Market Motive, founded by Avinash Kaushik. Market Motive seemed to offer the most comprehensive “hands on” course – where there is a solid balance of theory and practice. The course is taught by Avinash and John Marshall, who are considered some of the best minds in Analytics today.
As the course begins, we are discussing KPIs – (Key Performance Indicators), and Segments.
How is a KPI different from a segment you ask?
KPIs are quantitative -> can be measured: percentages, fractions, $
- Bounce Rate (% of users that left a page without going to another page on the site)
- % of users that registered for a seminar
- Average order value per customer
- Profit Margin per visitor
Segments are categories or groups
- Visitors who came from Brazil
- Visitors who buy a lot of Audiobooks
- Visitors who spend more than $500/month
But first, before diving into the KPIs and Segments, it is important to first define the purpose of the website:
What is the site trying to do?
- Sell something? (ecommerce)
- Provide information that helps offline sales
- Reduce support costs (people go the site instead of calling customer support)
- Create a “community” through a forum of like-minded customers
By first defining the purpose of the site you will be able to more easily identify your KPIs, and figure out if whether you are tracking towards your objectives.