min online webinar-montizecontent-markohurst-2011
DESCRIPTION
I was 1 of 4 panelists for a minOnline webinar - http://www.minonline.com/training/webinar-march24-2011.html This is my updated portion of that talk.TRANSCRIPT
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45 Main Street #220, Brooklyn, NY 11222Phone. +1 718 625 [email protected]
March 24th, 2011minOnline Webinar – Monetizing Your Online Content
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1. Selling On-brand
2. Measure What Matters
3. Vendor Selection
4. Q&A
Agenda.
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Marko Hurst.Author, Speaker, & Consultant
• Content Strategy• Web Analytics • Search Analytics • User Experience
Background• Content Strategy Director @ HUGE• 15 years experience• Statistics & Brain Cognitive Science • Practice lead: National & regional levels• Industries: Government, Media, Ecommerce, Financial
Services, Automotive, Technology, Mobile, CPG
Contact• Marko Hurst: [email protected]• Read my blog: MarkoHurst.com “Insightful Analytics”• Follow me on Twitter: MarkoHurst
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Selling on-brand
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eCommerce models.
Direct Referral Affiliate
• Greatest control
• Large risk
• Large investment
• Biggest possible rewards
• Medium control
• Minimal risk
• Minimal investment
• Potential for big rewards
• Some / little control
• Minimal risk
• Minimal investment
• Minimal – big rewards
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Direct.
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Referral.
http://www.albeebaby.com/quinny-zapp-strollers.html?refid=12063&id=40471
Product website URL with referral code
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Affiliate.
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Selling on-brand.Align your sales program with your brand, reputation, and audience expectations.
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Off-brand example.
+
Imagine if the New York Times ‘sold’ condoms from an article on birth control.
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Measure what matters
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Metrics are everywhere, so how do you choose the right metrics?
*Far from a complete list of metrics to choose from
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Metric Selection Is A Counterintuitive Process:Many begin their measurement programs fretting over what metrics to track.
Instead, if clearly define your goals first the right metrics will often fall into place.
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How to define goals.Keep it simple – choose what you want to achieve and by when.
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Goals are specific, quantifiable, & time-boxed.No• Increase Average Order Rate• Increase traffic by 5%• Decrease Bounce Rate in next six months
Yes• Increase Average Order Rate by $3 in six months• Increase Traffic on Top 20 keywords by 5% by end of next quarter• Decrease site-wide Bounce Rate by 10% within 30 days of next
design update
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The right metrics are those that directly affect your goal.Goal: increase “Average Order Value” by $3 in six months
Metrics Current Value Desired Value
• Average product price
• Yearly Average Orders
• Upsell %
• Cross-sell %
• Product bundle sale %
• $10.50
• 55,350
• .15%
• .25%
• .05%
• $10.50
• 55,350
• .15%
• .25%
• .10%
Key Performance Indicator (KPI): Current AOV* = $17
* AOV (Average Order Value) = Sum of Revenue Generated / Number of Orders Taken
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Balanced Scorecards help you easily manage your goals.
Example: Ecommerce Balanced Scorecard
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Vendor selection
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Vendors are everywhere, so how do you choose the right vendor?
*Vendors listed does not imply endorsement by Marko Hurst
Onsite Search Commerce Engine Web Analytics
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Vendor Selection Is A Counterintuitive Process:Most organization typically begin vendor selection by engaging with vendors from the beginning.
Instead, if you define your goals, identify the time and resources necessary to achieve those goals the right vendor often becomes evident very quickly.
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ProcessPeople
Vendor
3-step vendor selection process.
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ProcessPeople
Vendor
1. Create desired outcome(s)
2. Define KPIs
3. Capture current process (if any)
4. Perform gap analysis
5. Create desired process
Step 1: Define goals & best case usage of the “product”.
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ProcessPeople
Vendor
1. Create desired outcome(s)
2. Define KPIs
3. Capture current process (if any)
4. Perform gap analysis
5. Create desired process
1. Capture current resources
2. Capture current resource:• skill-sets• skill level• time allocated
3. External resources
4. Perform gap analysis
5. Perform ROI analysis
Step 2: Capture available resources, skills, and time needed to use the “product”.
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ProcessPeople
Vendor
1. Create desired outcome(s)
2. Define KPIs
3. Capture current process (if any)
4. Perform gap analysis
5. Create desired process
1. Capture current resources
2. Capture current resource:• skill-sets• skill level• time allocated
3. External resources
4. Perform gap analysis
5. ROI analysis
Step 3: Select a vendor that best fits your Process & People.
1. Pricing model / cost
2. Technology• platform• features• out of the box• customization
3. Training
4. Resources
5. Relationship / program type
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Q&A
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Thank you!
www.hugeinc.com45 Main Street, 2nd floorBrooklyn, NY 11201
Call us.Phone: +1 718 625 4843Fax: +1 718 625 [email protected]