As an industry, health insurers can often be conservative when it comes to adopting newer technologies and jumping on the digital marketing bandwagon. The need to support a broad range of user, legal, and regulatory considerations often prioritizes stability over cutting edge. However, not every digital initiative should be approached so cautiously, web analytics in particular. Here are a few ways your organization can move the needle towards more robust and insightful web analytics.
From data to understanding
There’s a popular adage that is said to ensure digital analytics success: the 10/90 rule. Put simply, for every dollar invested in tools and resources to collect data, nine should be spent to interpret and translate that data to valuable insights. The 10/90 rule can be difficult to calculate if a company is only using free tools like Google Analytics – but that in itself can be telling. Data analysis has grown from an afterthought tacked on to existing employees’ roles, to a strategic imperative, complete with Managers, Directors, and Vice-Presidents of Analytics/Business Intelligence staffed with full teams, responsible for not only collecting and crunching the data, but also producing actionable insights.
From single to multi-source data
Companies often implement Google Analytics or Webtrends on their sites, and attempt to use this limited data to understand the success of their brand or campaigns. Yet, customers are connecting through more channels than ever, from traditional avenues like print and TV advertising, support services such as call centers, and increasingly, through social media platforms like Facebook & Twitter. As such, your goal should be to broaden the range of channel information funneling in to your analytics team. One way to start is by leveraging the full strengths of analytics integration within your CMS. For example, the Sitecore Experience Profile illustrates key areas of customer experience and interaction, such as visitor details, visits, campaigns, goals, profiles and automations. Understanding how successfully your CRM campaign is connecting with customers can help determine where to go next. As social media dominates the way that businesses connect with customers, a wealth of tools and services have popped up to help companies understand how successfully their voice resonates online. From Google’s Universal Analytics broadening its reach into mediums like social media, to free tools such as Facebook Insights, to cloud based analytics offerings from IBM, Oracle and Adobe, multichannel data has become both commonplace and essential.
From just your organization to broader insights
It’s one thing to look at your digital properties to understand their strengths and weaknesses in engaging customers, but without markers to evaluate against, it’s difficult to get an accurate assessment. Several tools are available to compare your organization against your direct competitors. Services like Compete Pro allow you to measure against engagement and demographic data from the top one million websites. Beyond competitors’ site specific data, Compete Pro offers search analytics to help you understand what keywords and phrases are driving traffic to both your own site and competing sites. It also guides you to successful keywords in your marketplace, and helps surface complementary keywords and phrase variations that can enable you to better reach your target market.
The key here is that static, function-focused websites are dead. To meet the increasing demand for personally engaging websites and meaningful experiences, out-of-the-box web analytics solutions won’t cut it. Health insurers can get more out of web analytics by making the shift from pure data collection to true data reporting, single point data to multi-source data, and self-assessment to benchmarking. This represents a great first step towards leveraging analytics to provide real Business Intelligence (BI)… and catching up with the digital marketing bandwagon.