If you are responsible for your organization’s website marketing performance, you most likely have a set of key performance indicators (KPIs) that define your goals. Even if you don’t refer to them as KPIs, the goals are common among website managers. For example, ecommerce website KPIs typically include increased number of purchases, number of items in a basket, or average transaction value. For content-driven websites, KPIs include increased subscribers or media consumption.
With real-time web personalization, there is a definitive opportunity to impact your website KPIs – quickly and significantly. Let’s illustrate by examining a few common KPIs examples.
Conversion rate. Converting customers, subscribers, and visitors to a desired course of action is arguably the most important KPI regardless of your website type. Real-time web personalization is all about guiding visitors to that desired course of action by using in-session behavior to assess the visitor’s needs and deliver the right products, content, or information in less than a moment.
Bounce rate or time on site. If you want to improve your conversion rate KPI, it may be more important to improve your bounce rate. After all, it’s hard to convert customers after they leave. Real-time web personalization gives your website the ability to “sense” a visitor’s intent to leave your website, and engaging her with an in-session informed offer to deter her departure: a special promotion, content download, newsletter subscription, and more.
Media consumption. If your organization invests in the development of ebooks, videos, white papers, and other media, it’s important that your website help realize the value of those assets and encourage consumption. Based on the visitor’s inferred interests and in-session activity, real-time web personalization gives your website the ability to make relevant recommendations: view this video, download our ebook, register for this white paper, and more.
Transaction value. How good is your website at enabling cross-sell and up-sell purchases? This KPI can be challenging to impact, but real-time web personalization provides proven tactics. For example, visitors getting ready to complete a purchase on your website can be offered a related recommendation: hiking gear to go with new boots or extended warranty coverage for a new laptop.
These are just a few examples of how real-time web personalization can improve your website KPIs. We’ll explore more in a future blog post. Even better, share a few of your own in the comments.