Let’s face it, Web Analytics data is pretty limited when it comes to visitor analysis. Many of you might have some data on users who have registered or purchased from you and some of you might be connecting the onsite activity of visitors with the other data you have in your database. However, considering that you have less than 10% conversion rate (or registration rate) there are over 90% of the visitors on your site that you have no information on.
This is where 3rd party data provides come to your rescue. These data providers can provide a lot of valuable missing data and bridge the gap. Companies like BlueKai and iBehavior can augment anonymous cookie pool or known customer base with additional attributes that you don’t have.
For example, say you have a segment called “Engaged Users” that is all based on anonymous cookies visiting your site and taking certain actions e.g. downloading a whitepaper. Since it is all cookie based, all you have is their referring information, onsite behavior and browser/OS but you don’t know the mix of gender, income level, kids/no kids, interests etc. within this segment. Imagine if you had these other attributes about your anonymous visitors then how rich will your analysis and recommendations be. If you can see the value in richer analysis then it is time for you to start thinking beyond the data you collect.
Books that I am reading or have read recently
- You Should Test That: Conversion Optimization for More Leads, Sales and Profit or The Art and Science of Optimized Marketing
- Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die
- Data Points: Visualization That Means Something