IF YOU'RE NOT AT - YOU'VE GOT SOME WORK TO DO! YOUR NUMBER'S UP!
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
UK
DIGITAL RE VENUE AS A PERCENTAGE OF TOTAL RE VENUE
IF YOU’RE NOT AT
28
YOUR %
NUMBER’S
UP!
YOU’VE GOT SOME
WORK TO DO!
THE RISE OF DIGITAL OVER THE LAST 18 MONTHS HAS BEEN UNDENIABLE.
WE HAVE SEEN THE IMPACT OF DIGITAL ON THOSE BRANDS WHO WERE
READY AND THOSE WHO WERE NOT.
We wanted to understand the state of the nation in the USA and UK and see if digital
consumer behaviour would return to the levels seen prior to the impact of COVID-19.
We have looked at brands who have embraced digital and some of those who have
INTRODUCTION
fallen, and what their share of Digital revenue on total revenue was.
We used a mixture of data from the Office of National Statistics (ONS),
Benedict Evans (the great unbundling), United States Census
Bureau and our own primary research.
YOUR BER’S
We had 124 respondents from our own survey from
Europe and North America. They were primarily in digital or
ecommerce roles or ran agencies who worked in digital. NUM
UP!
nt
reme
d Measu s
n le
ata a merce sa
on D
g a grip our Ecom
in
Gett elerate y Kaushik
c
to ac d by Avinash
wor
Fore
W
SHA
TIM
M AND
BR AHA
ER A
PE T S
L M ON , OPKIN
SA AH
BEN JESSIC
H
WIT
THE FOLLOWING 4 AREAS ARE COVERED IN THIS DOCUMENT TO HELP PROVIDE GUIDANCE
ON WHAT GOOD LOOKS LIKE, WHO IS DOING WELL TODAY AND HOW TO IMPROVE YOUR
DIGITAL MEASUREMENT.
4 1 2 3 4
FOCUS
AREAS
Adoption of Digital How Brands Perform Our Research Measuring Success
How brands are adopting A review of some brands A review of our A guide to the
digital to generate and how they are own research and 4 different levels of
revenue. The impact performing. identification of measurement maturity,
COVID-19 has had on A review of their digital what makes a digitally types of metrics
digital sales in the UK revenue and how they focused vs more and how you can
and USA. compare. traditional business. improve.
1 Adoption of Digital
2 How Brands Perform
We want to see digital revenue as a share of total There have been winners and losers, but most
revenue on every annual report. would agree those who have succeeded were
The share of revenue from digital has grown prepared and embraced digital prior to the last 18
massively in the last 18 months both in the USA and months (outbreak of COVID-19).
UK. The winners have had a larger share of revenue
Understanding your digital revenue contribution coming from digital and in a like for like period have
is critical and it needs to be above the national seen a larger increase in revenue.
average if digital is your brand’s route to growth. The winners are not just purely digital businesses.
The UK average is higher with 2020 averaging 28% There are those who have focused on and
of sales from digital and 32% of from the first half of transitioned to digital, where this source of revenue
EXECUTIVE
2021. now represents the greatest share of sales.
The USA is 14% in 2020 and the first half of 2021.
SUMMARY 3 4
Our Research Measuring Success
The businesses with most of their revenue coming Look at the 4 different levels and see which ones
from digital (more than 75%) were the most best connect with you.
prepared and had least amount of concern about Once you have identified your level of maturity map
staffing and technology. out how you can improve across the different areas
Those organisations with less than 25% of revenue of customer, brand, business and evaluation.
coming from digital, had unrealistic expectations Ensure you have your metrics clearly defined and
coming from digital (as they were the only group start with outcome metrics, not volume based
hoping for more revenue). They additionally were metrics.
most risk adverse of all groups. Want more help and guidance read our book Your
Dashboards and reports were not the centre of Number’s Up! or download one of our micro guides
attention across all businesses with those who are to help you solve you measurement problem.
most digitally focused using data to inform all of wearecrank.com/resources
their decisions.
ADOPTION OF DIGITAL
TO SEE DIGITAL REVENUE
OUR AS A PERCENTAGE OF
AMBITION TOTAL REVENUE ON EVERY
ANNUAL REPORT
SLOW
UK DIGITAL REVENUE AS A PERCENTAGE OF TOTAL REVENUE
AND STEADY
GROWTH
From 2010 to to 2019 there was a steady
increase of digital sales.
Digital revenue share only grew from 16% to
19% from 2017 to 2019.
It wasn’t until Quarter 2 2020 that the
adoption of digital really spiked due to the
lockdown in the UK and closure of stores.
SOURCE: ONS https://www.ons.gov.uk/businessindustryandtrade/retailindustry/datasets/retailsalesindexinternetsales
Quarter 1 (Jan - Mar) 2010 until Quarter 2 (Apr - Jun) 2021 - Seasonally adjusted internet sales as a percentage of total retail sales.
NO
UK DIGITAL REVENUE AS A PERCENTAGE OF TOTAL REVENUE - PRE AND POST COVID 19
RETURN
TO
NORMAL
There was a 72% year on year increase Q2 2019 to
Q2 2020.
As lockdowns have been eased in the UK there has
been a slight decline in online sales as expected with
stores opening back up.
However this hasn’t been a big a drop as expected
with digital sales contribution dropping to 28.5% in
Q2 2021 far from the previous 19% from Q2 2019.
Digital is here to stay and the focus on digital is
more important than ever.
SOURCE: ONS https://www.ons.gov.uk/businessindustryandtrade/retailindustry/datasets/retailsalesindexinternetsales
Quarter 1 (Jan - Mar) 2019 until Quarter 2 (Apr - Jun) 2021 - Seasonally adjusted internet sales as a percentage of total retail sales.
A LOWER
USA DIGITAL REVENUE AS A PERCENTAGE OF TOTAL REVENUE
STARTING
POINT
From 2010 to to 2019 digital sales share grew but at
a slower rate in the USA compared to the UK. Digital
revenue share only grew from 8% to 10% from 2017
to 2019. It wasn’t until Quarter 1 2020 that there
was a big increase in sales from digital with the
outbreak of COVID-19.
The adoption of digital is lower in the USA but this is
not a surprise given the size of the country and the
historically slower delivery times 2-3 days compared
to the UK average of 1.7 days down from 2.1 days.
The rise of services like Instacart, Deliveroo and
Uber Eats, will make a difference but same/next day
delivery for niche brands might take longer.
SOURCE: United States Census Bureau https://www.census.gov/retail/mrts/www/data/excel/tsadjustedsales.xls
Quarter 1 (Jan - Mar) 2010 until Quarter 2 (Apr - Jun) 2021 - Seasonally adjusted internet sales as a percentage of total retail sales.USA DIGITAL REVENUE AS A PERCENTAGE OF TOTAL REVENUE - PRE AND POST COVID 19
BIG GAINS
BUT
NOT HUGE
There was a 50% year on year increase Q2 2019 to
Q2 2020. One reason for the smaller increase might
be due to the limited number of lockdowns in the
USA forcing consumers to purchase online.
There has been a drop in digital revenue share,
however this has not returned to the levels prior
to the COVID-19 outbreak. At 13% it is still above
the 10%-11% average from 2019. Digital is still an
important channel in the USA but less of a critical
factor compared to the UK.
SOURCE: United States Census Bureau https://www.census.gov/retail/mrts/www/data/excel/tsadjustedsales.xls
Quarter 1 (Jan - Mar) 2019 until Quarter 2 (Apr - Jun) 2021 - Seasonally adjusted internet sales as a percentage of total retail sales.WHAT DOES A BUSINESS THAT FOCUSES ON DIGITAL LOOK LIKE?
WHAT DOES Internet sales as % of all retail sales 2020 - and H1 2021 for USA and UK
GOOD
LOOK LIKE?
Internet Sales as % of all retail salesUK
For those organisations who are focused on growing
their digital offering, the baseline in the USA is 14%
and the UK is 32%.
This means if your share of digital revenue is less
than either of these numbers, you must focus on
growing your digital revenue. Increase the role of
digital, budget and digital savvy team members onto
your board of directors.
SOURCE: Based on data from United States Census Bureau https://www.census.gov/retail/mrts/www/data/excel/tsadjustedsales.xls and
ONS (UK) https://www.ons.gov.uk/businessindustryandtrade/retailindustry/datasets/retailsalesindexinternetsales Seasonally adjusted internet sales as a percentage of total retail sales.GLOBAL AVERAGES HIDE THE TRUTH
WHAT WORKS
FOR YOU
AND YOUR
MARKET?
Do not set a target globally for digital revenue share,
as you’ll need a different approach in each market.
Each country has its own level of maturity and
therefore the required investment digital represents.
For example the approach you take in South Korea vs
Spain, where more investment is required in digital in
South Korea given the higher rate of digital adoption
in that market.
SOURCE: eMarketer 2020 - https://www.emarketer.com/chart/244425/top-10-countries-ranked-by-retail-ecommerce- sales-share-2021-2022-of-total-retail-sales
Note: Estimates are based on the analysis of data from other research firms and government agencies, historical trends, reported and estimated revenues from major online retailers,
consumer online buying trends, and macro-level economic conditions.HOW BRANDS PERFORM
DIRECT TO CONSUMER IS GROWING
OBSERVATIONS
Not all brands can become digital first brands. Price
point and margin are critical factors for making that
decision.
It is easier for L’Oreal to become a digitally focused
business when their average order value is likely to
be £50 ($68). Versus Hershey who might struggle
to sell chocolate if the cost of delivery is similar to
the cost of the products.
Creating a sense of urgency for Dettol (Reckitt) and
Dove (Unilever) might be harder. However changing
the offering to your cleaning subscription of body
care subscription across a variety of brands might
work.
Offering products direct to consumer has to be
more than putting products on a website if the
price point or sense of urgency is not there. Maybe
Hershey could create a subscription service offering
customised confectionary for their customers, or to
send as gifts throughout the year.
SOURCE: Benedict Evans (the great unbundling January 2020 - https://www.ben-evans.com/presentations)LAURA ASHLEY VS NEXT PLC
COMPARING
TRADITIONAL
Digital revenue Digital revenue
as a share of as a share of
total revenue total revenue
Revenue in millions
was 25% was 23%
RETAILERS Laura Ashley annual sales
Laura Ashley had seen a decline in sales overall and
a decline in digital sales. Their digital revenue share
also decreased. When COVID-19 hit it forced their
Digital revenue Digital revenue
closure as a share of as a share of
total revenue total revenue
Revenue in millions
was 41% was 45%
Next plc had grown their digital offering and were
ready for COVID-19. They still turned a profit even
with a £206m loss from retail stores in 2021.
Next annual sales
SOURCE: Companies house Laura Ashley Annual report 2019 and https://www.nextplc.co.uk/investors/ten-year-historyASSOCIATED BRITISH FOODS VS ASOS
COMPARING
OFFLINE AND
£ in millions
ONLINE Associated British Foods (Primark) annual sales and net income
Associated British Foods (ABF) net income
declined 48%. Currently it does not offer any online
purchasing options for Primark. This might be due
to low margins on product, but click and collect isn’t
even offered.
£ in millions
ASOS net income grew 361% year on year with.
Currently ASOS operates direct to consumer and
generates 3rd party income from its websites.
ASOS annual sales and net income
SOURCE: ABF (Primark) 2020 annual report and ASOS 2020 annual reportSTRUGGLING GET IN TOUCH OR LEARN
WITH HOW TO IMPROVE YOUR
YOUR
MEASUREMENT? DIGITAL MEASURMENT
IN OUR BOOK
O UR
Y BER’S
10% off NUM
UP!
nt
reme
d Measu s
n le
ata a merce sa
use Research UK as coupon code ing a
on D
grip our Ecom
y
Gett elerate Kaushik
c
to ac y Avin
b
ash
word
Fore
W
SHA
TIM
AND
AM
R AH
R AB
E TE
N , P PKINS
A L MO H O
S A
BEN JESSIC
H
WITOUR RESEARCH
WHAT DOES WHAT THE
GOOD LEADERS IN DIGITAL
LOOK LIKE?
DOTHE
Overall 41% of
QUESTION: HAS DIGITAL GENERATED THE REVENUE RETURNS YOU EXPECT respondents
found they had
GIVEN THE MARKET CHANGES WE’VE SEEN RECENTLY? more revenue
than they
EXPECTATIONS
expected.
Question: Digital as % of Revenue
OF DIGITAL
Has digital generated the revenue returns Less than 25%
25% to 50%
you expect given the market changes we’ve 51% to 75%
seen recently? More than 75%
Everyone
About what No I was hoping No change Yes more than
I expected for more I expected
Overall most saw more revenue than they expected, 50%
showing huge and unexpected growth in the last
41%
18 months.
38%
Those with more than 25% digital revenue were 32%
most surprised, with more than 41% in all audience
groups saying, “Yes - more than I expected”. 25%
18%
Those with less than 25% digital revenue were
the audience who were hoping for more or saw no 13% 9%
change in digital revenue.
0%
SOURCE: Primary research from wearecrank from 25th January to 1st April 2021: 124 respondentsMost list these
THE
top 3 metrics:
Conversion rate
QUESTION: CHOOSE THE TOP 3 METRICS YOUR ORGANISATION IS FOCUSED ON (61%), Revenue
(40%) and Cost
per acquisition
TOP 3
(35%)
Question: Choose the top three metrics your organisation is focused on
METRICS
Overall conversion rate and revenue were the
Digital as % of Revenue
Metric
Less than 25%
Share of
responses
Metric
25% to 50%
Share of
responses
Metric
51% to 75%
Share of
responses
Metric
Over 75%
Share of
responses
Metric
Everyone
Share of
responses
Conversion rate 61% Conversion rate 79% Conversion rate 58% Revenue 55% Conversion rate 61%
top metrics showing a good level of measurement
Cost per acquisition 35% Cost per acquisition 38% Average order value 37% Conversion rate 48% Revenue 40%
maturity.
Revenue 32% Revenue 38% Cost per acquisition 32% Cost per acquisition 45% Cost per acquisition 35%
The group with 75% or more digital revenue were Revenue on advertising 42% Revenue on advertising 33%
Average order value 29% Average order value 25% Revenue 32%
the only group who focused on outcomes, with 55% spend spend
Return on Return on
listing revenue as their top metric. Advertising spend
26%
Advertising spend
25% Visitors 32% Visitors 23% Visitors 27%
Visitors 26% Visitors 25% Return on 26% 19% 26%
Average order value Average order value
Cost per acquisition was the lowest for those who Advertising spend
Add to cart and
had 25% digital revenue or less with only 35% Click-through rate 19% Click-through rate 17%
completion rate
21% Click-through rate 13% Click-through rate 15%
choosing this metric. Add to cart and
13%
Add to cart and
13%
Revenue per user or
16% Cost per click 13%
Revenue per user or
11%
completion rate completion rate Engagements per lead Engagements per lead
Conversion rate was the most popular metrics Cost per click 10% Cost per click 13% Sessions 16% Dwell time/time on site 10% Add to cart and
completion rate
10%
overall with 61% of respondents choosing this Sessions 6% Sessions 13% Click-through rate 11% Revenue per user or 10% Sessions 10%
Engagements per lead
performance metric.
SOURCE: Primary research from wearecrank from 25th January to 1st April 2021: 124 respondentsMost
BARRIERS
respondents
QUESTION: WHAT ARE YOUR BIGGEST BARRIERS TO GROWING DIGITAL (56%) said
REVENUE FURTHER? they needed
more budget
towards digital.
TO GROWING Question:
What are your biggest barriers
Digital as % of Revenue
Less than 25%
DIGITAL
25% to 50%
to growing digital revenue further? 51% to 75%
More than 75%
Everyone
More budget Measuring our We do not have Risk to moving Technology is out Our agencies
Most audiences wanted more budget towards towards digital digital activity and the right skills from what of date don't get it
connecting it today we know
digital or had issues with connecting revenue to to revenue
digital activity. It was good to see agencies were not
60% 57%
seen as a hindrance with very few stating this was 56%
51%
an issue. 49%
45%
The 75% or more group were those who were most 35%
likely to have the right technology or team in place. 30%
30%
Only 16% state technology or 5% skills as barriers.
19% 19%
They were also the least risk averse. 16%
15%
Only those who had 25% or less were most 5% 4%
0%
concerned about moving from what they know 0%
(45%). Technology and skills was the biggest barrier
for the between 25% and 50%. SOURCE: Primary research from wearecrank from 25th January to 1st April 2021: 124 respondentsENSURE
Most respondents
QUESTION: HOW PREPARED IS YOUR ORGANISATION FOR THE (54%) said they had
a plan and changes
CHANGES AHEAD? were being applied
now
PLANNING Question:
How prepared is your organisation
Digital as % of Revenue
Less than 25%
IS IN PLACE
25% to 50%
for the changes ahead? 51% to 75%
More than 75%
Everyone
USING DATA
We are fully We do not have We have a plan We have a plan
prepared and a plan . . . help! and changes are but have not
have already made being applied now yet started
the necessary changes making changes
70%
Most audiences had a plan in place and were at
varying degrees of that plan being implemented. 54%
52%
53%
The 75% or more group were those who were most
39%
likely to have already implemented a plan with 52%
35%
saying their plan was already in place, compared to 29%
all respondents at 29%.
18% 15%
Only those who were 50% or less had no plan at all, 10%
and they also tended to also have a plan which had 0%
2%
0%
not started implementation.
SOURCE: Primary research from wearecrank from 25th January to 1st April 2021: 124 respondentsOverall 53%
DATA
said they used
QUESTION: HOW DO YOU MEASURE SUCCESS AND HOW MUCH IS data to measure
marketing
DATA AND ANALYSIS A FACTOR? effectiveness,
with some use of
NOT
analysis
Question: Digital as % of Revenue
DASHBOARDS
How do you measure sucess and Less than 25%
25% to 50%
how much is data and analysis a factor?
51% to 75%
More than 75%
Everyone
Data and analysis Data is not used Data is used to measure We have dashboards
is at the centre of to make decisions marketing effectiveness and reports to measure
Very few of the audience used dashboards and all decision making in digital and we use some analysis campaign performance,
for decisions but do not use analysis
reports to measure campaigns. Most used data to
70%
measure campaign effectiveness.
51% 53%
Those in the 75% or more group were the most data 53%
43%
focused, with 51% saying they use data and analysis
35% 35%
for all decision making, compared to all respondents
at 35%.
18%
Those in the 25% or less group were the only 4% 5%
8%
audience to not use data at all to make decisions in 0% 0%
digital. SOURCE: Primary research from wearecrank from 25th January to 1st April 2021: 124 respondentsMEASURING SUCCESS
THE ENGAGEMENT VISIBILITY
Recording of non-transactional
user behaviour
4 SHOPPING VISIBILITY
Using Google Analytics Enhanced
Ecommerce to understand
L E V E L O F M AT U R I T Y
Not all brands can become digital first brands. Price shopping behaviour
LEVELS
point and margin are critical factors for making that
decision.
It is easier for L’Oreal to become a digitally focused
OF
business when their average order value is likely to Using Google Analytics Ecommerce
be £50 ($68). Versus Hershey who might struggle TRANSACTION VISIBILITY to measure revenue and sales
to sell chocolate if the cost of deliver is similar to the
cost of the products.
MATURITY
Creating a sense of urgency for Domestos (Reckitt)
and Dove (Unilever) might be harder.
Offering products direct to consumer has to more TRAFFIC VISIBILITY
Tracking visitor volume and pages viewed
on the website (Google Analytics)
than putting products on a website if the price point
or sense of urgency is not there.
S TA R T H ER ETRAFFIC ENGAGEMENT VISIBILITY
Recording of non-transactional
user behaviour
VISIBILITY Using Google Analytics Enhanced
Ecommerce to understand
SHOPPING VISIBILITY
L E V E L O F M AT U R I T Y
shopping behaviour
KEY CHALLENGES:
• Which traffic is engaging the most?
• Can you connect the impact of the website to
Using Google Analytics Ecommerce
sales? TRANSACTION VISIBILITY to measure revenue and sales
• What content or products are most popular (i.e.
most viewed)?
Tracking visitor volume and pages viewed
TRAFFIC VISIBILITY on the website (Google Analytics)
S TA R T H ER ETRANSACTION ENGAGEMENT VISIBILITY
Recording of non-transactional
user behaviour
VISIBILITY Using Google Analytics Enhanced
Ecommerce to understand
SHOPPING VISIBILITY
L E V E L O F M AT U R I T Y
shopping behaviour
KEY CHALLENGES:
• Which products are performing the best?
• Which campaigns are the most profitable vs Using Google Analytics Ecommerce
those costing money? TRANSACTION VISIBILITY to measure revenue and sales
• Where have customers fallen out of the purchase
journey?
Tracking visitor volume and pages viewed
TRAFFIC VISIBILITY on the website (Google Analytics)
S TA R T H ER ESHOPPING ENGAGEMENT VISIBILITY
Recording of non-transactional
user behaviour
VISIBILITY Using Google Analytics Enhanced
Ecommerce to understand
SHOPPING VISIBILITY
L E V E L O F M AT U R I T Y
shopping behaviour
KEY CHALLENGES:
• Where are customers struggling to find the right
product?
Using Google Analytics Ecommerce
• Which SKUs (colour and sizes) are selling well in TRANSACTION VISIBILITY to measure revenue and sales
what channel?
• What products and price points should I offer to
my mobile vs desktop audiences?
Tracking visitor volume and pages viewed
TRAFFIC VISIBILITY on the website (Google Analytics)
S TA R T H ER EENGAGEMENT ENGAGEMENT VISIBILITY
Recording of non-transactional
user behaviour
VISIBILITY Using Google Analytics Enhanced
Ecommerce to understand
SHOPPING VISIBILITY
L E V E L O F M AT U R I T Y
shopping behaviour
KEY CHALLENGES:
• What content (including videos) is my audience
engaging with for research vs purchase?
Using Google Analytics Ecommerce
• What impact are wishlists and account creation TRANSACTION VISIBILITY to measure revenue and sales
having on repeat sales?
• What products should I bundle for each of my
channels?
Tracking visitor volume and pages viewed
TRAFFIC VISIBILITY on the website (Google Analytics)
S TA R T H ER EWHERE TO FOCUS TO IMPROVE MATURITY
CUSTOMER BRAND BUSINESS EVALUATION
TESTING AND TRAFFIC
CONTENT MEDIA MERCHANDISING OFFERS IMPACT AWARENESS GOALS SKILLS DATA USED METRICS
EXPERIMENTATION CLASSIFICATION
Show product Incentivise offers to Monitor website visitors Use paid search, Track non-
Measure the cost of Value of purchasers
Categorise content into: recommendations or certain actions (writing a from non-prompted shopping, display, transactional actions
ENGAGEMENT
visitors who engage Understand user Trading, Test different who engaged with
VISIBILITY
- Used for awareness content based on wishlist review, sharing content, channels (direct, referral affiliates/online partners Paid and organic social such as wishlist, social
on your website and behaviour to drive merchandising, media elements on a given content, reviews,
- Used for research/intent or other non transactional creating a wishlist), e.g. and organic search), and paid social to drive is correctly classified sharing and viewing of
then purchase on a repeat purchase and content teams page or signed up to a
- Used for purchase engagement (“Things you get free delivery for during brand campaigns brand awareness videos, and categorise
returning visit newsletter
might like”) creating an account to understand impact and sales your content pages
Validate brand building Capture product detail
Show products which Use retargeting Lifetime customer
by comparing the page views, add to
Categorise content have been most viewed (visitors who have visited Recover lost Trading, Test different product profit, average order
VISIBILITY
SHOPPING
Measure the cost of Make overall site wide click-through rate, bounce Email is correctly cart, checkout journey,
and link to revenue or popular purchases on and shown intent) to customers/non- merchandising and list page formats/ profit, cart completion
discount/offers offers, e.g. 20% off rate, conversion rate and classified and group products
generation homepage and on product create brand affinity purchasers media teams layouts rate, product detail
cost per acquisition as into category and sub-
list/category pages and sales page view rate
visitors know your brand categories
Track share of page 1 Capture visitors who
Digitial revenue as a
Show popular products from organic search. Use some digital media Google media is make transactions
TRANSACTION
Create content based on Measure cost per % of total revenue,
VISIBILITY
and highest revenue Monitor brand terms for brand building and Drive sales and Trading and media A/B testing on correctly classified on your website,
what products generate acquisition of purchasing No offers available revenue, conversion
products first on and if your share of page offer-led messaging transactions teams landing pages and referrals only from ensuring you record
the most revenue visitors rate, average order
homepage 1 increased from brand genuine sources the number and value
profit, items per basket
building of transactions
Measure impressions Benchmark your overall
Visitors and sessions,
and click-through rate, share of organic search Limited measurement, Record website
VISIBILITY
TRAFFIC
Prioritise content based All media and brand Traffic is not page impressions,
engaged visitors those Show popular pages first N/A and uncover the brand Drive repeat visitors someone who can use None visitors who browse
on most viewed building is offline categorised bounce rate, session
who do not bounce to and category terms you Google Analytics your web pages
duration
calculate cost per visitor are leading1 2
OUTCOME PERFORMANCE
METRICS METRICS
NOT ALL
Actions relating directly Sales related behaviour that
to revenue to understand gives an understanding into
trading. marketing effectiveness.
METRICS
(Revenue, repeat (Conversion rate or
purchase rate or lifetime average order value)
customer profit)
ARE
CREATED
3 4
BEHAVIOUR VOLUME
METRICS METRICS
EQUAL Actions relating to visitors:
what they are doing and
engaging with.
(Add to cart or basket
An overall view of how
visitors are engaging
with your brand.
(Number of visitors to
abandonment rate) the website)TO
METRICS
ALIGNING
MATURITY
METRICS TYPE
VOLUME
OUTCOME
BEHAVIOUR
PERFORMANCE
TRAFFIC
VISIBILITY
TRANSACTION
VISIBILITY
SHOPPING
VISIBILITY
ECOMMERCE MATURITY LEVEL
ENGAGEMENT
VISIBILITYWANT TO GET IN TOUCH OR LEARN
CREATE HOW TO MAP OUT YOUR
YOUR
MEASUREMENT DIGITAL MEASUREMENT
ROADMAP? NEXT STEPS IN OUR BOOK
YOUR BER’S
NUM 10% off
UP!
t
men
ata and
ce
sure
Mea ales
s
use Research UK as coupon code
on D commer
grip E
etting a ate your ik
G
celer Kaus
h
to ac d by Avinash
wor
Fore
W
SHA
TIM
AND
RA HAM
R AB
E TE
O N , P PKINS
M
SAL SICA HO
B EN ESAPPENDIX LXX LXXI
QUESTION: HOW MUCH REVENUE DOES DIGITAL GENERATE AS A PERCENTAGE OF YOUR
RESEARCH ORGANISATIONS TOTAL REVENUE?
PARTICIPANTS
A survey was deployed from January to March
2021. We collected 124 respondents, who were
from UK, USA, Europe and Australia.
The survey was deployed to those who worked in
digital with a mixture of brands and agencies and
software providers.
SOURCE: Primary research from wearecrank from 25th January to 1st April 2021: 124 respondentsCOMPARING
WINNERS AND
LOSERS
SOURCE: Companies house Laura Ashley Annual report 2019 and https://www.nextplc.co.uk/investors/ten-year-historyPURELY OFFLINE
VS
PURELY ONLINE
SOURCE: Associated British Foods Plc and ASOS plc1 2
FREE STUFF. OVERWHELMED?
About Crank. Go to: I am baffled and want to know what this
wearecrank.com/resources digital thing is all about?
to get your hands on some goodies. This We offer senior and team coaching based
Def 1. verb: Turn a handle in order to start an engine. will continually be updated with new on our method in this book. To this end
content to help people master their we often get asked to either speak at
culture of measurement journey.
Def 2. noun: A person who is obsessed by a particular subject. events or work with teams to help them
We know there is a lot in the book and we understand how they can create their own
We’re a delightful mashup of the two. are here to help. Hopefully you can tell we culture .of digital measurement. This can be
love digital measurement and some of our
educational or more prescriptive by taking
enthusiasm has rubbed off.
We’re unashamed digital marketing and ecommerce nuts who crank new life, new value and new growth your data and auditing how you measure
into digital businesses just like yours. We have been working with digital data
today.
for over 20 years but have really focused
on Google Analytics and built our own book@wearecrank.com
analysis tools in the last 5 years.
WE’RE SHARP YET BLUNT
3 4
For over 5 years Crank has been working with ecommerce businesses, advising them on how they create
growth through better measurement and use of data. We have worked with a variety of businesses from
beauty, technology, software, higher education, charities and fashion.
A MEASUREMENT I NEED A
We are Sharply focused on highlighting the actions that enable you to grow your business.
ROADMAP. UNICORN.
How good is good and where do I need Interpretation, where can I find one of those
Blunt about showing you the evidence that points to engagement and growth. to start? unicorns?
We can help create your measurement Fortunately this is exactly what we have
No more 100-page presentations or meaningless charts. Just clear marketing actions in a language you roadmap. We will use our methodology been doing using data directly from Google
understand. to benchmark you business and help you analytics. Our software extracts the data and
understand what you need to put in place our team then performs the magic. Actually
Giving you the focus you need to execute the most important actions while maximising limited time, budget first to ensure you have solidified your what we do is interpret and translate our
and resource. metric maturity. We will then work with findings into a set of actions your team can
you to create a prioritised roadmap to get on with. These are data driven and are
Our goal is to get digital revenue as a percentage of total revenue on every annual report. We want help you work out your immediate next impartial. We just want to help you deliver
transparency, with a common set of critical digital metrics, so shareholders and leaders of businesses can steps. growth.
clearly show much they are investing in digital and how much it is contributing to their business.
Digital isn’t going anywhere, and the quicker you embrace it, the better off you’ll be. We are here to help
you understand how to measure your business and what you need to do to make the most of it.
weareCrank.com +(44) 20 3302 0807 book@wearecrank.com
LXXIXYou can also read
