If you are thinking about creating a website for your business, try to answer this two questions first:
- What is the purpose of my business existence?
- What should the website do to help my business?
Creating a website not purpose-driven is the recipe for failure. You will be spending money on a useless bunch of code and assets. But not everything is doom, there are ways to do it purpose-driven, or maybe a better description would be objectives-driven... doesn't matter, both terms look and sound fancy 🧐. A way of doing it purpose-driven is by developing a business analytics infrastructure. Don't let its name intimidate you because with the right people, the right tools and following the five steps below, it's pretty easy to do.
Five steps to build a business analytics infrastructure:
1. Define measurement plan
Note: This step only requires the understanding of the business objectives and strategies. It can be done by people that understand the business domain like for example business owners, managers, etc. Also is highly recommended that a person who knows about web analytics participates on the creation of the plan. This is the only step where technical expertise is not required.
2. Document technical infrastructure
3. Create implementation plan
5. Maintain and refine
As can be seen above, the first step to build an analytics infrastructure is creating a measurement plan, let's talk about that.
What is a measurement plan?
In my opinion, the best description I have found for this is the following:
In a nutshell, a measurement plan is a document that translates your top-line business objectives into metrics and dimensions you can measure on your website.
It provides a framework not only for a customised configuration of your web analytics, but also forms a vital part of your wider digital marketing strategy. This then determines how your digital channels best play together to achieve your KPIs. - Julian Erbslohe @ freshegg.co.uk
Let's think about it for a minute, this document is the blueprint for the ability to measure the performance of strategies developed to achieve business objectives. You start by answering the two questions mentioned above, then with the help of someone who knows about web analytics you end up defining a measurement plan that leads the implementation of a business analytics infrastructure. Helping you make better decisions for your business or, if you want to use a fancy term, change your business to a data-driven one.
Why use a measurement plan?
The ability to extract insights from data produced by businesses is crucial to stay competitive these days. It's not just that you know how your business strategies are performing, it's also the informed decisions that can be made to adjust or change your strategies. Making this process a better one or, to stay fancy, a data-driven one.
No more guessing what works and what doesn't. You can make a variety of strategies and/or tactics (this is called A/B testing), and then focus resources on the better one.
Also, let’s say that a company developed and maintains a website for your business. How do you hold accountable that company solution? or what is the ROI of that solution? Is it being beneficial to your business? If it is, how much? Those are questions that can be answered by implementing a measurement plan.
The arguments mentioned here are just a few ones, but all of that starts with a measurement plan.
This was a short overview to give an idea of what it is and why use a measurement plan. There is a lot of information on the internet about this topic and even ways to create one with templates and everything. But, measurement plan is just the part with no need of technical expertise to implement a business analytics infrastructure. If you need help on building an analytics solution from measurement plan to implementation then we can help, feel free to contact us.
- Feature photo by William Iven on Unsplash