Tip: Finding Missing Revenue Opportunities With Web Analytics Data

Revenue. The goal of every Website. As long as it’s up, everyone is happy. When it’s down, there are a few less smiling faces. But what can you as a Web Analyst do to help that? I have all these cool numbers, but how can I help turn them into revenue? This tip is one of my favorites.

The majority of the sites I work on are classified advertising sites. They are quite simple in nature, at it’s core consisting of a home page with search functionality, search results pages, and listing pages. Now there are actually much more pages than these, but this is the real bread and butter of the site. One neat item I like to track is the number of results returned when someone does a search.

Taking a look here at eBay, I do a search for Apple iPhone and it shows me how many results were returned for that search.
Number of Search Results
Now I like to grab that number and record it into a s.prop in SiteCatalyst. Ok so now you end up with a report full of numbers. How is this useful to me? Let’s open SiteCatalyst and take a look at this new Results Returned report and take a look at what we have.
Results Returned Report
Look what this tells us. For the time period selected, we had just under 195k times where someone did a search on the site and got nothing. The marketers did what needed to do to drive traffic to the site, only for these people to not get what they wanted. Now let’s take it a step further. What were these people looking for? That’s where Data Correlations come into play. If you are capturing all the other elements of that visitors search on your site, you are now able to break down that 0 Results Returned, and find out where they were searching and for what item. You know the exact make, model, city, state and whatever else about what gave this visitor nothing from your site.

You now have pinpointed where you have a demand with no supply. Once you know this you can help work to tailor your site to give your users what they want, and what they expect out of your site, and generate that revenue you are missing out on by having a visitor leave your site not being able to find what they want.