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EI MDMK10




Borislav Kiprin

                       Conversion Funnel & KPIs
                  Digital Marketing Auditing – Session 1
                                      Individual Report




                                                       Plovdiv, 4024
                                            Phone: +359 879993700
                                      E-Mail: bk@borislavkiprin.com
                                      Web: www.borislavkiprin.com
2                                                                                       Borislav Kiprin

Defining the Business Goals. How to establish the conversion funnel?
Business existence is based on the ability to create an economic value for its stakeholders. In that sense, before
building a website or make changes on one, we should define our business goals and the purpose of that site
on the road to achieve them. The critical cycle or the so-called marketing funnel is as follows:




                     Defining                                       Awareness          Interest
                  Business Goals                                  • Get the        • Offer
                                                                   product/         differentiatio
                                                                   service out      n and need
                                                                   there.           satisfaction
                                    Create
     Purchase
                                   Awareness
                                                                  Consideration      Purchase
                                                                  • Make           • Create an
                                                                   product/         user friendly
                                                                   service info     point of
                                                                   available        purchase

         Consideration      Drive Interest




Defining KPI’s. How to construct KPI? Different KPI’s for different site types?
Key Performance Factors help defining and measuring progress while trying to achieve set business goals. It is
important to have the agreement among the leadership in the company when identifying and setting the KPIs.
These indicators are quantifying results of taken actions towards achieving the goal(s) or identification of fields
that need optimization or improvement. They represent metrics and ratios that differ depending on the purpose
of the website at hand with the following examples:

    eCommerce            Lead Generation         Customer Service            Content                 Branding
 • Overall               • Overall              • % Support             • Ad-Based              • Average Time
  Purchase                Conversions            Touches Served          • Visits per Week       per Visit
  Conversion             • Conversio by          Online                  • Visit Length         • Page Views per
 • Average Order          Campaigns             • Average Cost           • Ad Click Ratio        Visit
  Size                   • Drivers to the        per Touch               • Recency &            • Return Visits
 • Items Per Order        Registratin           • Drivers to Other        Frequency              over time
 • Step-by-Step           Process                Support Methods                                • Average Order
                                                                        • Subscription-
  Purchase               • Registration         • Onsite Search          Based                   Value per Person
  Conversion              Process Drop-          Effectiveness           • Conversion of
 • Purchase -             outs                  • Survey Results          Nonsubscribers
  funnel Defectors       • Conversion of                                  to Subscribers
 • First Time vs,.        Leads to Actual                                • Active
  Returning Buyers        Customers                                       Subscriber Base
                                                                         • Average
                                                                          Subscription
                                                                          Length

KPIs should be monitored on regular basis and in different intervals of time in order to obtain clearer picture on
the trends of the website consumption and evaluate the impact of changes made to it.

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Digital Marketing Auditing - Conversion Funnel and KPIs

  • 1. EI MDMK10 Borislav Kiprin Conversion Funnel & KPIs Digital Marketing Auditing – Session 1 Individual Report Plovdiv, 4024 Phone: +359 879993700 E-Mail: bk@borislavkiprin.com Web: www.borislavkiprin.com
  • 2. 2 Borislav Kiprin Defining the Business Goals. How to establish the conversion funnel? Business existence is based on the ability to create an economic value for its stakeholders. In that sense, before building a website or make changes on one, we should define our business goals and the purpose of that site on the road to achieve them. The critical cycle or the so-called marketing funnel is as follows: Defining Awareness Interest Business Goals • Get the • Offer product/ differentiatio service out n and need there. satisfaction Create Purchase Awareness Consideration Purchase • Make • Create an product/ user friendly service info point of available purchase Consideration Drive Interest Defining KPI’s. How to construct KPI? Different KPI’s for different site types? Key Performance Factors help defining and measuring progress while trying to achieve set business goals. It is important to have the agreement among the leadership in the company when identifying and setting the KPIs. These indicators are quantifying results of taken actions towards achieving the goal(s) or identification of fields that need optimization or improvement. They represent metrics and ratios that differ depending on the purpose of the website at hand with the following examples: eCommerce Lead Generation Customer Service Content Branding • Overall • Overall • % Support • Ad-Based • Average Time Purchase Conversions Touches Served • Visits per Week per Visit Conversion • Conversio by Online • Visit Length • Page Views per • Average Order Campaigns • Average Cost • Ad Click Ratio Visit Size • Drivers to the per Touch • Recency & • Return Visits • Items Per Order Registratin • Drivers to Other Frequency over time • Step-by-Step Process Support Methods • Average Order • Subscription- Purchase • Registration • Onsite Search Based Value per Person Conversion Process Drop- Effectiveness • Conversion of • Purchase - outs • Survey Results Nonsubscribers funnel Defectors • Conversion of to Subscribers • First Time vs,. Leads to Actual • Active Returning Buyers Customers Subscriber Base • Average Subscription Length KPIs should be monitored on regular basis and in different intervals of time in order to obtain clearer picture on the trends of the website consumption and evaluate the impact of changes made to it.