Web Analytics video

The Power of Assigning Dollar Values to Website Behaviors - Jason Burby Dr. Ralph F. Wilson Web Marketing Today - Aug 25, 2009

In this video interview web analytics expert Jason Burby explains why being able to assign dollar values to various behaviors on your website helps you prioritize what you feature and how you sell your products and services to get the highest ROI. This task of assigning dollar values is also known as monetization. If you don't assign value, he says, you risk leaving money on the table.

With e-commerce-driven sites, determining value of behaviors is fairly easy. But other behaviors need more thoughtful tracking. He recommends using a unique 800-number on your website so you can track resulting sales, determine average order value, and profit margin. Likewise, track sales from leads generated from filling out a form on your site.

These dollar values don't need to be exact, Burby says. All you need to know is a relative value that can guide you in making business decisions about what to feature on your site.

Jason Burby is the Chief Analytics and Optimization Officer for ZAAZ. He is also co-author of Actionable Web Analytics: Using Data to Make Smart Business Decisions (Sybex, 2007, ISBN 0470124741). This video was taped at the eMetrics Marketing Optimization Summit in San Jose, California in May 2009.