May 08, 2017 | The XM Blog

Why measuring conversion rates limits success (and how to fix it) | CMSWire


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Digital Contribution Measurement

The following article from ForeSee VP of Marketing Eric Feinberg was first published on CMSWire.

Kobe Bryant and Magic Johnson are both all-time great guards who played for the Los Angeles Lakers. Bryant is one of the highest-scoring players in league history with 25 points per game, and Johnson averaged 19.5 points per game. While Johnson may not have scored as many points, he averaged 11.2 assists per game.

The lesson? Only by analyzing a more complete set of game statistics could Johnson’s overall contribution to Lakers’ scoring be revealed to be just as great as Bryant’s — if not greater.

Track KPIs for Every Digital Channel

The parallel for today’s organizations is that they, too, must develop more advanced and nuanced key performance indicators (KPIs) if they want to measure the performance of their digital channels as insightfully and accurately as possible.

So if you’re tracking digital sales and conversion rates without knowing how much your web and mobile channels are contributing to your overall business, it’s like keeping track of points but ignoring assists: You’ll be making judgments and decisions based on an incomplete picture of your various digital channels’ performance and potential.

And you’ll have no way of assessing the role each of your channels is playing in influencing sales and building loyalty throughout your customers’ journeys.

Continue reading Eric’s entire article via CMSWire: Why Measuring Conversion Rates Limits Success (And How to Fix It).

Categories: Retail

About the Author

As a pioneer in customer experience analytics, Verint delivers superior technology and proven methodology to connect the customer experience to the bottom line. The result is better business for companies and a better experience for consumers.

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