Web analytics is still a relatively new concept in newly formed financial services businesses. The company prefers to invest money in the departments which bring direct revenues. However, as more and more products are getting commoditized, it is imperative to differentiate oneself from the competitors. There has to be more and more focus on data driven strategies i.e. web analytics driven content marketing. Developing a customized web analytics solution that integrates with the enterprise CRM system requires a huge upfront investment. Making a business case with traditional investment management firms becomes a big challenge. Here is one study performed to find the root cause of having an effective online measurement strategy and not surprisingly it's the "lack of budget and resources". The next two biggest reason comes out to be the siloed organization/lack of co-ordination among different teams and lack of strategy.
Despite reluctance on spending on web analytics, the budget of any e-commerce department is increasing. For any successful e-commerce site, landing page ( or in most cases product page) is the most important and starting part of the marketing funnel. So, it's mandatory to invest good amount of time thinning about customer and their purpose while designing the page. Landing page often presents first ( and many cases last) opportunity to prove product's worth or value to the customer. Landing page should be optimized for different segments of customers. As each customer requires different elements satisfying one's requirements, it becomes challenging to present different designs. That's why content optimization i.e. Test and Targeting tools come in handy that let us test which elements work best and have better conversions. Here are the basic steps for optimizing product landing pages:
1. Align the website and product landing page objectives to business goals
2. FInd out conversion funnels using web analytics data
3. Create test hypothesis for various design considerations.
4. Execute tests and continue to improve as there is no proven recipe and the page has to continue evolving
5. Gather web browsing data and continue try to find new insights and new test and targeting recipes
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