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  1.                     An   Application   of   Web   Analytics   on   Singapore’s   Most  Popular   Websites                Prepared   By:      Jeremy   Jerome   Chia  Justin   Ng   Yu   Hir  Tan   Jun   Han   Augustine  Long   Shi   Yong  Cheng   You   Xian   Dillon      AB1401   Information   Technology  Seminar   Group   5  Project   Group   4              8   November   2016  Academic   Year   2016/2017   Semester   1           
  2.   Table   of   Contents    1.  Executive   Summary  4  2.  Introduction:   Companies,   their   Online   Presence   and   the   Evolution   of   Marketing  6  2.1  Broad   Categorisation   of   Websites  8  2.2  Generic   Objectives   of   Companies’   Online   Presence  9  2.3  Web   Analytics  10    2.3.1   Process   of   Web   Analytics  11    2.3.2   Introduction   to   Google   Analytics  12    2.3.3   Functions   of   Google   Analytics  12    2.3.4   Dimensions   and   Metrics   in   Google   Analytics  13                               2.3.4.1   Acquisition   Metrics  14                               2.3.4.2   Behaviour   Metrics  16                               2.3.4.3   Conversion   Metrics  18  3.  Case   studies   of   Selected   Top   20   Websites  20  3.1  E­Commerce:   Groupon  21    3.1.1   Objectives   of   Groupon  22    3.1.2   Revenue   Models   of   Groupon  24    3.1.3   Measurable   Goals,   Dimensions   and   Metrics   of   Groupon  25    3.1.4   Limitations   of   Google   Analytics   Metrics   for   Groupon  31    3.1.5   Comparisons   to   other   Web   Analytics   Tools   for   Groupon  32  3.2  E­Service:   Overseas   Chinese   Banking   Corporation   (OCBC)  33    3.2.1   Objectives   of   OCBC  34    3.2.2.   Revenue   Models   of   OCBC  35    3.2.3   Measurable   Goals,   Dimensions   and   Metrics   for   OCBC  36    3.2.4   Limitations   of   Google   Analytics   Metrics   for   OCBC  39    3.2.5   Comparison   to   other   Web   Analytics   Tools   for   OCBC  40  3.3  Classifieds:   sgCarMart  41    3.3.1   Objectives   of   sgCarMart  42  2 
  3.     3.3.2   Revenue   Models   of   sgCarMart  43    3.3.3   Measurable   Goals,   Dimensions   and   Metrics   for   sgCarMart  44    3.3.4   Limitations   of   Google   Analytics   Metrics   for   sgCarMart  47    3.3.5   Comparison   to   other   Web   Analytics   Tools   for   sgCarMart  48  3.4  News   Website:   The   Straits   Times  49    3.4.1   Objectives   of   The   Straits   Times  50    3.4.2   Revenue   Models   of   The   Straits   Times  52    3.4.3   Measurable   Goals,   Dimensions   and   Metrics   for   The   Straits   Times  53    3.4.4   Limitations   of   Google   Analytics   Metrics   for   The   Straits   Times  58    3.4.5   Comparison   to   other   Web   Analytics   tools   for   The   Straits   Times  59  3.5.  Information:   Nanyang   Technological   University   (NTU)  60    3.5.1   Objectives   of   NTU  61    3.5.2   Revenue   Models   of   NTU  63    3.5.3   Measurable   Goals,   Dimensions   and   Metrics   for   NTU  64    3.5.4   Limitations   of   Google   Analytics   Metrics   for   NTU  67    3.5.5   Comparison   to   other   Web   Analytics   tools   for   NTU  67  4.  Comparisons   of   Web   Analytics   Tools  68  5.  Concluding   Thoughts  73  5.1  The   Future   of   Web   Analytics  74    5.1.1   Privacy   and   Web   Analytics  74    5.1.2   Direction   of   Web   Analytics  75    Appendices    76  References                         77­82        3 
  4.     1.   Executive   Summary    This report seeks to examine the use of web analytic tools in generating data for actionable                                improvements on a selected five of the “Top 20” most popular sites in Singapore , with                             1 regard   for   the   company’s   explicit   and   implicit   objectives.    For the purpose of this report’s discussion, websites have were classified into several                          functional   categories:   E­Commerce,   E­Service,   Classifieds,   News   Websites,   and   Information.     In view that web analytics is a branch of marketing, we further examined the benefits web                                analytics could provide for particular websites, under their constituent functions. By                      extension, web analytics will offer some benefits for websites in the similar functional                          categories:    a. E­Commerce    For online transactions, web analytics serves as a powerful tool for pure­plays and                          clicks­and­mortar retailers to gain an increased awareness of how their products are                        performing based on conversion rates, and the effectiveness of their marketing efforts                        through acquisition­based metrics. In addition, the reporting of their consumers’                    interests and assigning attributes to their users will particularly benefit them in                        assessing the market demand. These efforts, when combined, will go a long way in                            helping   e­commerce­centric   entities   boost   their   online   sales   revenue.    b. E­Service    Using Web analytics can help E­service firms to provide more convenient and                        efficient services that customers can benefit from. The most important factor of an                          E­service firm is to provide a reliable and user­friendly online platform for its                          customers since most of its businesses would occur there. Web analytics can help                          firms to achieve this by identifying areas that could boost the performance of the                            website. Having an online platform that works well, loads fast and is easy to use will                                definitely   maintain   clientele   satisfaction.     c. Classifieds      Classified websites have both E­commerce and E­service aspects and as such, we find                          that the benefits of Google Analytics to those types of websites are applicable here as                              well. A classifieds website has to integrate their services and enhance the experience                          for both the user and the buyer. Google Analytics can help to plug the gap of missing                                  information as it can help the identify what the customers want and better integrate it                              with the providers of that want, satisfying both ends of their user base and hence                              remaining   relevant.    1    (Choo,   B.   2013)  4 
  5.   d. News   Websites     News websites are generally focused on increasing the viewership of their articles                        posted online and increasing the revenue gained through subscription fees and online                        advertisements. Web analytics will allow the news website to collect user data and                          translate the data gathered into information that will allow the news companies to                          review their current business strategies and formulate new business strategies in order                        to cater to the needs of the readers and advertisers. By using the information gathered,                              the news company can make the articles more accessible to the online readers and                            post more articles according to the readers’ interests in order to entice more readers to                              subscribe to their online news services. A high web traffic inflow to the website will                              in turn increase digital revenue when advertisers choose to advertise their products on                          the   news   websites.    e. Information    Information websites are largely concerned with ensuring that the information they                      wish to get out to its readers is able to be viewed in an effective manner, increase their                                    viewership, and build their brand name. There are other company­specific objectives,                      such as getting more conversions in the form of registrations (in the case of NTU)                              which may be considered. Web analytics tools can provide information for companies                        to track how effective the response to their marketing effects were, as well as deduce                              how readers are interacting with their website as a measure of how effective their                            methods   are.    Subsequently, the limitations of Google Analytics were identified to comprise of, but is not                            limited to, the end­user’s (1) inability to generate predictive analytics for future decision                          making, (2) constraints to the number of events per session that can be tracked, (3) difficulties                                in tracking information accurately, (4) lack of extensive customisation. These were elaborated                        in   greater   detail.    It was discussed in greater detail that these limitations can be minimised or overcome by the                                use of alternative web analytic tools available in the industry, such as Adobe Analytics,                            Piwik, Open Web Analytics etc. Specific examples were provided to counter the limitations                          raised   in   each   case.    Notwithstanding the above, the future of web analytics was also considered. There are issues                            like privacy and ethics which need to be considered ­ data collection may be a                              compromisation of privacy, and ethics comes into play when decisions are made concerning                          big data. It can be observed that web analytics is heading towards stitching together the                              multi­device world and the integration of Business Intelligence to further enhance web                        analytics.          5 
  6.   2.   Introduction:   Companies,   their   Online   Presence   and   the   Evolution   of   Marketing    With the rapid development of information technology in the recent years, we have noted that                              the number of websites have grown exponentially to a sizeable sum of 1 billion since the                               2 internet’s   inception   in   1969 . 3     Figure   2­1:   Number   of   Websites   by   Year   4   With an increase of internet penetration rate around the world and following the general trend                              exhibited in Figure 2­2 , it is evident that a larger proportion of people are now on the                                  internet. This trend is expected to increase exponentially in the following years, given the                            multiple initiatives by industry big­players (e.g. Google) in connecting more people to the                          internet   and   an   increased   reliance   and   emphasis   on   electronic   communications   in   society.      Figure   2­2:   Internet   Penetration   Rates   from   2009­2016  5 2    (Internetlivestats.com,   2016)  3    (Leiner,   B.    et   al.    n.d.)   4     Retrieved   on   13   October   2016   from    http://www.internetlivestats.com/total­number­of­websites/#trend  5    Retrieved   on   13   October   2016   from  https://www.statista.com/statistics/265156/internet­penetration­rate­in­asia/  6 
  7.   Given our observations on the increase in the number of users on the internet as well as                                  websites, we deduce that companies have begun to recognise the importance of maintaining                          an online presence through having a website in increased efforts to reach out to the various                                groups of their target audience. Some examples include, but are not limited to the following                              listed   below:    ● Retailers like Walmart, HMV and others have begun to embrace click­and­mortar                      models   of   online   businesses.  ● The industry has given rise to very successful inceptions of pure­play B2C e­tailers                          such   as   Amazon  ● Websites offering information have heightened their online presence to bring their                      content online such that they would be able to stay relevant and continue to extend                              their reach and cater to readers with different preferences. Popular news journals like                          The Straits Times, Wall Street Journal offer online content, as with classifieds moving                          online   as   well.    Considering the abovementioned, it is clear that traditional forms of marketing efforts are                          required   to   evolve   in   order   to   extend   its   influence   and   effectiveness   in   online   mediums.    Primary form of research to ascertain the effectiveness of an entity’s marketing efforts were                            the main source of information, and they continue to be a viable source of information in                                gathering information on issues of concern to entities, such as their consumers’ interest,                          where   they   were   referred   from,   amongst   others.    The development of technology has automated the process of conducting primary research                        through surveys and the process is expedited through the development of web analytics.                          These tools, when calibrated accurately, can gather data to the answer questions posed to                            consumers through surveys in a more real­time and effective manner. We will discuss web                            analytics   further   in    Section   2.3 .          7 
  8.   2.1   Broad   Categorisation   of   Websites    This discussion of the applicability of web analytics on websites will focus on the Top 20                                most popular websites in Singapore as listed on TheSmartLocal.Com, a popular Singapore                        lifestyle website. These websites have varied functionalities and are from a diverse range of                            industries.   The   list   of   Top   20   websites   are   in   enclosed   in    Appendix   1 .    Our analysis will be centred around the identification of the websites’ functional category,                          which   is   deduced   from   the   purpose   the   website   serves   and   its   probable   objective   in   operation.     The main forms of functional categories are summarised, with descriptions and examples, in                          Table   2­1 .    Functional  Category  Description  Examples  E­Commerce  E­Commerce   is   the   buying   and   selling   of   goods  and   services,   or   the   transmitting   of   funds   or   data  over   an   electronic   networks.   The   origin   of  e­commerce   stems   from   the   point   businesses   began  using   Electronic   Data   Interchanges   (EDI)   to   share  documents .  6 Groupon,  DEAL.com.sg  E­Service  E­Services   are   websites   that   have   emerged   with   the  purpose   and/or   function   of   complementing   or  replacing   what   would   otherwise   be   physical  over­the­counter   transactions,   or   through   machines.  These   sites   have   given   rise   to   the      convenience   of  performing   services   from   their   homes.  SingPass,   UOB,   DBS,  OCBC  Classifieds  Classifieds   websites   are   online   advertisement  portals;   they   are   an   avenue   for   people   to   reach   out  to   more   people   in   a   quicker   and   more   efficient   way  compared   to   traditional   methods   of   advertising  (Provided   they   apply   the   right   SEO/SEM   tactics)  sgCarMart,   ST  Classifieds,  Jobstreet,  PropertyGuru  News   Websites  Online   sources   of   news   often   quicker   than   print  media   as   they   can   be   updated   by   the   second.  Certain   websites   also   allow   users   to   customise   the  order   of   preference   in   which   they   receive   their  news.  AsiaOne,   Stomp,  The   Real   Singapore,  The   Straits   Times  Information  Websites   in   these   category   can   be   of   many   forms.  For   this   discussion,   we   will   consider   any   website  which   main   purpose   is   to   provide   users   with  information   in   this   category.  NTU,   Insing,  Streetdirectory.com  Table   2­1:   Categories   of   Websites    6    (Code,   B.   n.d.)  8 
  9.   2.2   Generic   Objectives   of   a   Company’s   Online   Presence     Due to the varied nature of operational business that individual companies undertake, it is                            therefore difficult to deduce objectives for every company’s online presence as                      understandably,   there   are   different   objectives   for   different   functional   categories   of   websites.     Websites embracing an online presence is an extension of their marketing efforts to extend                            their reach to a wider audience and increasing their company’s goods and service                          accessibility. Notwithstanding the above, it is possible to broadly comment on the generic                          objectives of a company’s online presence, and summarise them into one or more of the                              following   categories : 7   a. Increased   Profits     A website allows consumers access to a business product or service anytime and                          anyday, even after the normal operating hours. For businesses that generate most of                          their revenue through sales, having an online presence allows sale transactions to take                          place at any time of the day. Instead of restricting sales to the operating hours of a                                  company, having a website allows sales to go on continuously, increasing both sales                          volume   and   revenue.    b. Marketing     Having an online presence allows companies and businesses to market their products                        or services more easily and on a wider scale. There are many online marketing                            strategies that appeal to the masses. One common example is the use of social media                              to   target   the   younger   generation.    c. Cost   Effectiveness    It is easy to determine the cost of building a website to generate an online presence.                                However, for a physical store, the cost of having one is often difficult to determine as                                it is vulnerable to external threats such as theft, fires and natural disasters, which will                              drastically increase the cost. Having a substantial online presence will reduce such                        risk   and   keep   cost   to   a   minimal.    d. Credibility     A website helps companies to establish credibility, as it will provide the company                          with an online presence. With such a presence, it would give people an impression                            that   the   company   is   doing   well   and   is   successful.    All of the above will undoubtedly shape the way entities seeks to improve their online                              presence,   in   conjunction   with   the   individual   objectives   of   the   website.         7    (Dogulin   Digital,   n.d.)  9 
  10.   2.3   Web   Analytics    Web analytics is the process of measuring, collecting and analysing the actions and behaviour                            of the website’s target audience in their interaction with the website. Its purpose is primarily                              centred   about   enabling   entities   to   do   any   of   the   following ,   where   applicable: 8   1. Attract   more   visitors,  2. Retain   or   attract   new   customers   for   goods   or   services,   or  3. Increase   the   dollar   volume   each   customer   spends    The usability of web analytics is not confined to just measuring web traffic, but it can also be                                    engaged to conduct market research, and assess and improve the effectiveness of websites. It                            also acts as a supplement to a primary form of research (surveys, as discussed in Section 2 ) in                                    measuring the effectiveness of traditional forms of advertising. Some methods include                      tracking the click­through and drill­down behaviour of customers within the website,                     9 10 deducing the source of their online audiences, and utilising browser­generated information to                        track   and   analyse   online   behaviour . 11   This report will evaluate the benefits that Google Analytics (free version), an industry                          benchmark for web analytic tools, can provide to websites of different functionalities. A                          comparison will also be made to alternate web analytic tools to address the limitations of                              Google   Analytics.    In summary, web analytics assists entities in generating data for actionable insights. Section 3                            will further elaborate on the significance of web analytics with regards to five chosen                            websites   of   varied   functional   categories   as   discussed   in    Section   2.1 .                8     (Allen,   D.   and   McQuown,   J.,   n.d.)  9    Click­through,   often   used   in   web   advertising,   is   used   to   refer   to   an   isolated   click   of   a   user   in   an   ad­space.  10    Drill­down   refers   to   “focusing”   on   a   particular   area,   and   is   used   in   relation   to   information   technology.  11    (Allen,   D.   and   McQuown,   J.,   n.d.)  10 
  11.   2.3.1   Process   of   Web   Analytics    Web Analytics is the process of measuring, collecting, analysing and reporting of key                          consumer data which are of interest to companies in order for them to better tailor their online                                  business   models.     The Web Analytics process can actually be simplified into four different steps, as shown in                              Figure   2­3 .   This   is   further   elaborated   below.      Figure   2­3:   Steps   of   the   Web   Analytics   Process  12   Step   1:   Collection   of   Data    During this stage, companies can make use of tracking files and codes that are stored on the                                  web host’s server to record web data automatically. Examples of the data collected include                            the   number   of   visits   to   the   website   and   the   amount   of   time   spent   on   each   webpage.     Step   2:   Processing   of   Data    The web data collected is processed into information such as ratios or metrics to be used as a                                    standard   of   measurement.     Step   3:   Developing   KPIs    Companies will use the information derived in step 2 to develop Key Performance                          Indicators(KPIs). At this stage, companies will focus on using the ratios and infusing them                            with   their   business   strategies.     Step   4:   Formulating   Online   Strategy    The company will focus on formulating their online strategies. This stage is concerned with                            the online goals and objectives of the company. Since the main objective of a company would                                be profit maximisation, companies will make use of the information gathered in step 1 to step                                3 to modify their current online strategies and to implement strategies in order to attract more                                people   to   their   websites.)    12    (Long,   S.   Y.    et.   al.    2016)  11 
  12.   2.3.2   Introduction   to   Google   Analytics     Google Analytics is a tool that helps businesses and companies to improve their online                            presence. It contains many effective functions that will help any business or website to                            achieve its full potential like traffic tracking, determining bounce rates or the tastes and                            preferences of your audience . Google Analytics collects data from every aspect of a website                           13 and helps to organise these data into a simpler and more understandable format for the                              owners of the websites. It can also help to identify any weaknesses in the websites so that the                                    owners   can   remedy   any   problems   without   wasting   much   time.     2.3.3   Functions   of   Google   Analytics    In   summary,   Google   Analytics   confers,   broadly,   the   following   benefits   to   its   user:    a. Building   Audiences   with   Valuable   Insights.     Google Analytics helps you analyze visitor traffic and paint a complete picture of                          your audience and their needs. You can track the routes people take to reach you and                                the devices they use to get there with reporting tools like Traffic Sources. You can                              also learn what people are looking for and what they like with In­Page Analytics,                            which   then   allows   you   to   tailor   your   marketing   and   site   content   for   maximum   impact.    b. Getting   More   Conversions   and   Better   Performance    Google Analytics has the latest in full­credit measurement. Sophisticated tools like                      Multi­Channel Funnels and Attribution show how all the campaign elements work                      together ­ so you can give the most credit to those that work the best. Remarketing                                can help you reach your most engaged viewers and see the impact of your message at                                the moment it’s delivered. Site Speed, Alerts, and In­Page Analytics let you reach                          peak capacity by helping you avoid slow page loads, poorly placed content, and site                            crashes   due   to   high   visitor   volume.     c. Testing   and   Adapting   for   Success    Google Analytics helps you answer which digital marketing strategies perform best.                      Make changes, re­measure, and test some more to meet your performance goals. Have                          more than one group weighing in? Share valuable insights and dashboards with your                          colleagues and generate reports tailored to the needs of different teams. If there is a                              dip   in   traffic   patterns,   Custom   Alerts   let   you   know   so   you   can   act   immediately           13    (Google   Analytics,   n.d.   ­   a.)  12 
  13.   2.3.4   Dimensions   and   Metrics   in   Google   Analytics    Google Analytics makes a distinction between a dimension and a metric and in our analysis,                              it useful for entities to understand the differences between the two terms used in Google                             14 Analytics in order to appreciate what information they will deliver. There are differences in                            the way they are configured, collected, processed, reported and queries, and they cannot be                            used   for   one   another.    a. Dimensions    A dimension is the attribute (text) of visitors to your website, e.g. gender, age, city,                              browser etc. In essence, it provides context to a metric; a standalone metric is                            meaningless to analyse and report. This will be applicable to all Google analytics                          reports. For example, information on visitor’s “country” (dimension) is used to put                        meaning   to   the   “sessions”.   (metric)    b. Metric    A metric is a number (integer) which is used to measure one of the characteristics of a                                  dimension,   for   example   ­   sessions,   new   users,   bounce   rate   etc.     This discussion will further focus on what metrics Google Analytics presents to entities who                            use it. Some examples of metrics available on Google Analytics are summarised in Table                           15 2­2 .    Acquisition  Behaviour  Conversions  Active   Users  Number   of   Sessions  (and   Percentage)  New   of   Users  (and   Percentage)      Average   Session   Duration  Bounce   Rate  Pages   per   Sessions  Percentage   of   Search   Exits  Percentage   of   Search  Refinement  Search   Items  Search   Refinement  Time   After   Search  Active   Pages  Basket­to­Detail   Rate  Buy­to­Detail   Rate  Conversions  Conversion   Value  E­Commerce   Conversion  Rate  Transactions  Product   Revenue  Transactions  Unique   Purchases  Table   2­2:   Summary   of   Metrics   Available   on   Google   Analytics    This list is not exhaustive, and is meant to briefly provide a glossary and briefly explain the                                  metrics that are mentioned throughout our discussion. Sections 2.3.4.1­3 goes further to                        explain three of the most commonly presented features within each category, to give a                            generic   overview   of   how   these   categories   of   metrics   function.          14    (OptimizeSMART,   n.d.)  15    (Google   Analytics,   n.d.   ­   b.)  13 
  14.   2.3.4.1   Acquisition   Metrics    Acquisition metrics in Google Analytics provide information on how online visitors arrive at                          the website . These metrics can show how active the users are in engaging with the website                               16 and its content. Listed below is the list of acquisition metrics that are commonly used by                                companies   to   evaluate   their   current   business   objectives.     a. Number   of   Sessions    This   metric   measures   the   number   total   number   of   sessions   that   occurs   on   the  webpage.   It   is   the   period   of   time   that   a   user   is   actively   engaged   with   the   website.      It   is  usually   combined   with   another   metric   to   give   context   to   the   number,   for   example,  Pages   (Pages/session),   which   gives   the   average   number   of   pages   viewed   per   session.    An   example   of   how   the   number   of   sessions   is   displayed,   with   reference   to   the   Google  Analytics   demonstration   account   is   shown   in    Figure   2­4 .      .                                        Figure   2­4:   Acquisition   Metrics   Displayed   in   Google   Analytics         16    (Watkins,   R.   2014)  14 
  15.   b. Percentage   of   New   Sessions    This metric provides an estimate of the percentage of first time visits to the website. It                                is usually combined with another metric to give content to the number, for example,                            the number of new vs returning visitors, which shows the effectiveness of the website                            in attracting visitors by measuring the percentage of new visits with respect to the                            total   number   of   visits.    An example of how the percentage of new sessions is displayed, with reference to the                              Google   Analytics   demonstration   account   is   also   shown   above   in    Figure   2­4 .    c. New   Users    This metric provides the number of first­time users during a selected date range. It can                              also be combined with the same metric used above. For example, the number of new                              vs returning visitors in order to determine the success of the website in retaining its                              current visitors and to differentiate it with the effectiveness of the website in attracting                            new   visitors.    An example of how the new users is displayed, with reference to the Google                            Analytics demonstration account is also shown above in Figure 2­4 . This is the                          rightmost   column   of   the   screenshot   ahead.          15 
  16.   2.3.4.2   Behaviour   Metrics    Behaviour Metrics in Google Analytics demonstrate to entities how others interact with their                          website. It also provide reports on the performance of the websites and identifies areas in the                                website that requires improvements and optimisation. Listed below are the list of behaviour                          metrics   that   are   commonly   used   by   companies   to   evaluate   their   current   business   objectives.     a. Average   Session   Duration    This shows the amount of time a visitor spends viewing a particular page in the                              website. A longer duration on a particular page would mean that a visitor is more                              likely   to   be   interested   in   that   page   and   vice   versa.     An example of how the average session duration is displayed, with reference to the                            Google Analytics demonstration account is shown in Figure 2­5 , in the rightmost                        column   featured   of   the   screenshot.      Figure   2­5:   Behaviour   Metrics   Displayed   in   Google   Analytics        16 
  17.   b. Bounce   Rate    It refers to the percentage of visitors who enter the website and then leave the website                                without clicking or viewing other pages or links in the website. This usually happens                            when   visitors   did   not   find   what   they   are   looking   for   on   the   website.    An example of how the bounce rate is displayed, with reference to the Google                            Analytics demonstration account is also shown above in Figure 2­5 , in the leftmost                          column.    c. Pages   per   Sessions    This metric shows the number of different pages that a visitor enters in one sessions.                              Generally, a higher number will mean that a visitor is more likely to be interested in                                the   content   and   thus,   visits   the   various   links   or   pages   related   to   the   website.    An example of how the pages per sessions is displayed, with reference to the Google                              Analytics demonstration account is also shown above in Figure 2­5 , in the middle                          column.                    17 
  18.   2.3.4.3   Conversion   Metrics    Conversion metrics help users to know what happens after a visitor or customer clicks on the                                links on the web page or enter a website. It allows the user to know the actions of the visitor,                                        for instance, whether they purchase the product, signed up or register or even visiting the                              website   just   to   obtain   information.     a. E­commerce   Conversion   Rate    This metric is extremely useful for e­commerce sites. It measures the percentage of                          site   visitors   who   convert   into   paying   customers.     An example of how the e­commerce conversion rate is displayed, with reference to                          the   Google   Analytics   demonstration   account   is   shown   in    Figure   2­6 .         Figure   2­6   Conversion   metrics   displayed   in   Google   Analytics        18 
  19.     b. Transactions    The transaction metric simply shows how many transactions take place in one session.                          Users can opt to view the number of transactions in one day or a month depending on                                  their   preference.    An example of how the transactions is displayed, with reference to the Google                          Analytics   demonstration   account   is   also   shown   above   in    Figure   2­6 .    c. Revenue    This particular metric allows the user to track how much revenue is generated from                            their website. Similarly, the time period in which users want to track their revenue can                              be   adjusted   according   to   their   own   preference.    An example of how the revenue is displayed, with reference to the Google Analytics                            demonstration   account   is   also   shown   above   in    Figure   2­6 .                                                              19 
  20.   3.   Case   Studies   of   Selected   Top   20   Websites    This report will focus on five websites of different categories from the list of Top 20 Websites                                  in    Appendix   1 .   These   will   be   discussed   in    Section   3.1    to    Section   3.5 :    ● E­Commerce :   Groupon   ( Section   3.1 )  ● E­Service :   Overseas   Chinese   Banking   Corporation   (OCBC)   ( Section   3.2 )  ● Classifieds :   sgCarMart   ( Section   3.3 )  ● News   Website :   The   Straits   Times   ( Section   3.4 )  ● Information :   Nanyang   Technological   University   (NTU)   ( Section   3.5 )    The subsequent sections will build on the premises established in Section 2 on the                            categorisation of websites by function and the benefits that web analytics offers to the                            abovementioned   websites.     In addition, our discussion will take into account each entity’s Revenue Model and                          Measurable   Goals   as   defined   below:    a. Revenue Model : How business will earn income, produce profits and strive to                        generate   a   higher   than   average   return   on   investment .  17   b. Measureable Goals : An objective that can has a clear marker of achievement; entities                          can   identify   when   the   objective   has   been   achieved   through   quantifiable   outcomes . 18   In our discussion, we have identified that the chosen five companies from the list of twenty                                belong   to   different   functional   categories   of   websites,   as   discussed   in    Section   2.1 .       17    (Business   Dictionary,   n.d.)  18    (YourCoach,   n.d.)  20 
  21.   3.1   E­Commerce:   Groupon    Groupon Singapore was launched in May 2010, and features daily promotions in a bid to                              connect local commerce with the increasing purchasing power of consumers, and in the                          process driving more business to local merchants through price and discovery . Groupon’s                       19 business   model   has   evolved   throughout   the   years : 20   a. When Groupon first launched, one deal (known as a “Groupon”) per day was                          released. This served as an assurance contract: the deal would only be honoured if the                              minimum consumer threshold was fulfilled. Under this model, half of the money paid                          by   customers   was   kept   by   Groupon.    b. This model presented several issues, in particular, to small businesses who suffered                       21 heavily when they were swamped with orders as a result of an over­subscription to the                              Groupon. As a result, Groupon made caps in advance to ensure that businesses can                            perform their services effectively . They continued to encourage consumers to try                     22 local   businesses.    c. Later, Groupon launched several notable initiatives ­ Groupon Goods which focused                      on discounted merchandise and Groupon Getaways which offers travel and vacation                      deals .   This   is   forms   a   bulk   of   Groupon’s   current   core   business   at   present. 23   d. Besides the abovementioned, Groupon has also diversified with other geo­specific                    ventures, such as ­ GrouponLive , which allows consumers to find discounts on                       24 ticketed   events   and   Groupon   To   Go ,   a   food   delivery   spin­off. 25   In addition to being recognised as the eleventh most popular website in Singapore , it also                             26 qualifies as the second biggest e­commerce website in ASEAN with a turnover of S$145                            million, followed by the iBuyGroup which controls Beecrazy, Deal.Com.sg, and LivingSocial                    . 27         19    (Groupon.,   n.d.)  20    (Wikipedia,   n.d.)  21    These   were   the   ones   that   Groupon   started   out   to   assist   in   gaining   more   ground;   local   companies.  22    (Weiss,   B.   2010)  23    (BusinessWire.   2011)  24    (BusinessWire,   2012)  25    (Perez,   S.   2015)  26    (Choo,   B.   2013)  27    (Isa,   T.   2014)  21 
  22.   3.1.1   Objectives   of   Groupon      Groupon’s overall objectives can be summarised from its values and foreword statement in                         28 its recent financial statements . This information should be viewed in consideration of the                         29 revenue and business model of Groupon. The relevant information for this discussion is as                            follows:     a. Building   for   the   Long   Term    Groupon appears to tend towards sustainable growth in the long run with regards to                            increasing its scope, number of deals and net deal size. Its mission statement makes a                              commitment that they will not “do something for short­term gains” that “will hurt                          [Groupon] in the long run.” In this scope, it communicates a willingness on their part                              to make investments that might not pay off initially, develop new technologies or                          acquire   a   new   start­up,   all   with   an   eye   toward   the   future.   (Mission   Statement)    b. Daily   Habit   in   Local   Commerce    Groupon acts as a platform to promote businesses to a wider audience of people. In                              doing so, they seek to make Groupon a daily habit in local commerce by making                              strides in local and mobile commerce, which is their primary consideration. Groupon                        wants to strive towards expanding their reach and making Groupon more accessible to                          their   target   audience.    c. Bringing   Local   Commerce   into   the   Online   World    Qualifying Groupon’s goal as a platform, they aim to stay true to building itself as a                                site concerned with bridging the gap between small businesses and a large amount of                            consumers. Groupon believes that there is a multi­trillion­dollar global economic                    potential in this market, and hopes to revitalise one of the last spaces to reap the                                benefit from the development of information technology. This reality can be partially                        attributed to local businesses not being marketers by nature and their lack of their time                              and resources. For them to do this effectively, they will look towards geo­targeted                          measurable   goals.          28    (Groupon,   n.d.)  29    (Groupon,   2015)  22 
  23.   d. Improving   Customer   Experience    They seek to have a lower friction between the buying and redemption experience.                          This means reducing the difficulties encountered by customers between these two                      processes. Groupon would want to explore options to mitigate the challenges posed in                          the current system. Expirations still frustrate customers and pose a mental barrier to                          new   purchases.   It   is   important   for   them   to   catch   up   to   their   customer’s   expectations.    e. Capitalising   on   Mobile   Platforms    Some of the concerns Groupon is looking at is improving the mobile utility, given that                              60% of their global transactions are on mobile devices. Groupon seeks to cement its                            position as a clear leader on mobile devices around the world, as the mobile market                              penetration   increases   over   time.     This information will set the precedence for further discussion on what web analytics can do                              to   assist   Groupon   in   achieving   their   objectives.          23 
  24.   3.1.2   Revenue   Models   of   Groupon    Groupon, like its direct competitors in LivingSocial and other Daily Deal websites, are                          effectively advertising agencies in that they promote products and/or services to a wider                          audience   on   behalf   of   companies . 30   Groupon’s revenue sources are dependent on two variable factors which are interlinked with                         31 their   business   model,   as   discussed   in    Section   3.1 :    a. Number   of   Deals    The number of deals can depend on the number of regions Groupon serves, as well as                                the volume of deals that are achieved through its main deals, side deals which have a                                long list of merchants waiting to be featured and Groupon stores (e.g. Groupon                          Goods).    b. Net   Deal   Size    This component will vary with the share to Groupon and discounted deal price. The                            discounted deal price can be influenced by the proportion of discount to customers                          and the gross price based on the function of category. The general trend has been to                                push into travel and hotels, given how general affluence has resulted in an increased                            demand   for   travel.    It is conclusive for us to deduce that Groupon main source of operational revenue is from the                                  commissions received from the promotion of other companies’ goods and services on their                          website. Subsequent efforts in a bid to grow the company’s market capitalisation will be                            about   increasing   the   number   of   deals   and   net   deal   size.          30    (Haralampou,   J.   2016)  31    (Dahlen,   C.   2012)  24 
  25.   3.1.3   Measurable   Goals,   Dimensions   and   Metrics   for   Groupon    Groupon will look towards its objectives, in consideration of its revenue model, to determine                            what the relevant measurable goals are relevant to be considered. Subsequently, they should                          consider how the dimensions and metrics presented by Google Analytics will be relevant in                            assessing   their   achievement   of   their   measurable   goals.    Goal   1:   Building   for   the   Long   Term    a. Measurable   Goal    It is clear that Groupon will not do something for short­term gains; its aims to build                                for the long term. Following this line of thought, it can be deduced that they will look                                  at improving all categories of products offered on Groupon instead of just focusing on                            categories of products that are performing well. They will assess which category of                          products are less prominent on their platform in relativity to the market composition                          of products sold, and decide which category of products it should strive towards                          securing on Groupon’s website. Doing so would ensure that the products on                        Groupon’s platform are well­diversified and hence build towards sustainable and                    long­term   growth.    To further cement their sustainability efforts, they have to take into account the                          changing interests of the consumers and ensure that their product composition                      corresponds with the trends of the consumers’ tastes and preferences ­ this will ensure                            Groupon’s continued relevance as a platform for their consumers. The quantifiable                      goal would then be to judge the ability of Groupon to offer a proportionate products                              that   suit   the   interests   of   consumers.    b. Dimensions   and   Metrics    Given that the key discussion about long­term growth is centred about responding to                          consumers’ interest, it would then be appropriate for us to consider looking the                          aforementioned as a dimension. The metrics that are relevant would be the “sessions”                          and   “bounce   rate”.   (Audience   >   Interests   >   Affinity   Categories)    The number of “sessions”, analysed with respect to the interests of the users that visit                              it would be representative of the majority of the user’s interest, and can be said to be                                  the interest of the consumer base. This reflects where Groupon should consider                        modeling its production composition after. This information will be useful in telling                        Groupon   how   it   should   respond   and   stay   relevant   to   the   interests   of   its   users.    The next category to look at would be the “bounce rate”. Every interest category                            should be examined with regards to this. In interpreting the information, Groupon                        may consider looking at the interest categories with a high bounce rate as this could                              mean that there were little things on the front page that were of interest to these                                consumers as they left without interacting with the page. This is a negative sign, and                              sieving out which categories of consumers’ interest have a high bounce rate (anything                          above the average bounce rate) will help determine which category of consumers                        25 
  26.   Groupon should work towards engaging more and arousing their interest. By                      extension, this means that Groupon can consider increasing the products available in                        these categories to ensure that consumers with different interests will see a reason to                            visit   Groupon.    Taking a keen interest in these two metrics would determine how Groupon should rebase its                              marketing and outreach strategies to engage and respond to different interest groups and                          ensure   that   they   stay   relevant   to   the   industry   and   grow   sustainably.    Goal   2:   Daily   Habit   in   Local   Commerce    a. Measurable   Goal    Groupon is ambitious in saying that it wants their promotional platform to be the first                              consideration of consumers, in other words a “daily habit in local commerce”. The                          way of measuring this would be to examine the conversion rates with a dimension of                              unique users by geographical region (Audience > Geo > Location) and                      cross­reference that with a census of the number of people in that region. Equation 1                              shows   how   this   can   possibly   be   done.    ­­­­   (1) of People on Groupon % =   Sessions No. of P eople in the Region (Census)     In order for it to become a habit, there should be a step­up of awareness efforts. It is                                    useful for Groupon to then determine what are the the dimensions and metrics it wants                              to extract from the web analytics tool to decide what efforts to continue doing, and                              what   markets   it   should   target   to   provide   more   demand   for.     b. Dimension   and   Metrics    It is important for Groupon to know what are the most effective ways of achieving                              conversions. This is such that they know which channels are successful in making                          people complete their purchases and thus boosting a component of their revenue                        model, the net deal size. The focus will be on the conversions (metric) and conversion                              value (metric) as an additional value, and the dimensions that can be set will be “MCF                                Channel Grouping Path”. (Conversions > E­Commerce > Multi­Channel Funnels >                    Top   Conversion)   The   qualitative   information   generated   is   shown   in    Figure   3­1 .      Figure   3­1:   Information   Generated   about   Multi­Channel   Funnel   Top   Conversions    With   this   information,   they   would   be   able   to   know   what   channels   they   should   focus  on,   and   what   multi­channel   pathways   are   most   effective   in   bringing   about  conversions.    26 
  27.   The more interested the consumers are in a particular market, the more likely they are                              to continue to see Groupon as a choice for this, generating demand and gradually                            achieving this objective, thus it is important to know what markets their consumers                          are looking at. Groupon can then make use of the number of sessions (metric) and                              conversions (metric), qualified by the affinity category of the users (dimension)                      (Audience   >   Interests   >   Affinity   Categories).    The generated data will return the affinity categories which pose the most sessions.                          The most number of sessions represents the number of people with a particular                          interest visiting the site, and hence that would be a good indicator of interest. It is also                                  important to see which one generates the most conversions, and which is the best                            selling category. In this sense, focusing on both would help to increase Groupon’s                          appeal   to   customers   of   that   interest   category,   and   cement   their   interest   gradually.      Goal   3:   Bringing   Local   Commerce   into   the   Online   World    a. Measureable   Goal    In attempting to bridge the gap between the local businesses and the large pool of                              consumers that visit Groupon’s website, it is important for Groupon to monitor the                          performance of the local commerce websites that register to promote their goods                        and/or   service   on   its   platform.     To be successful in its cause, it must be able to convince local businesses that                              promoting on Groupon’s platform is worth the setup time and efforts. The goal would                            then be to try to maximise the increase in potential revenue and/or the profit margin of                                the local business which contracted to advertise. This would involve getting input data                          from   the   firm   which   may   be   complicated   as   this   is   sensitive   information.     Thus, what Groupon can measure on its end would be to monitor the processes and                              gauge the effectiveness of their marketing efforts by ensuring that the take up rate for                              the product is performing well as compared to other similar products, and maximising                          the revenue from it. If it does it effectively, it would benefit the two revenue models                                of   number   of   deals   and   net   deal   size.    b. Dimension   and   Metrics    There are additional metrics available for E­Commerce on Google Analytics for                      measuring the extent of success Groupon’s platform serves for the businesses that                        advertise on it. The metrics to be considered are those under sales performance ­                            “product revenue”, “unique purchases”, and those under shopping behaviour ­                    “basket­to­detail rate ” and “buy­to­detail rate ”. The dimension for this will be the                       32 33 individual products, gauged by the product performance. (E­Commerce > Shopping                    Analysis   >   Product   Performance)    32    Product   adds­to­basket   divided   by   product   views.  33    Unique   purchases   divided   by   views   of   product­detail   pages.  27 
  28.   As discussed earlier, it would be useful for them to know how users interacted with                              the page advertising the product. At times, users may be more compelled to purchase                            the product due to good marketing efforts, and this is reflected in the “basket­to­detail                            rate” and “buy­to­detail rate”. The “basket­to­detail” rate will show the intent of the                          users to buy, and it would good to know how many of them were convinced, or                                contemplated buying the item as these could be the potential conversions. It can also                            be viewed with the “buy­to­detail” rate, which will show the number of actual                          conversions   that   happened.    For the metrics under sales performance, Groupon can exact the data from new                          products and benchmark it against the same metric data from other products, or                          previously advertised products which fall under the same category and see how the                          product is doing in relatively. With that, a judgement can be made on the                            performance,   and   any   remedies   or   enhancements   to   be   made   can   be   further   discussed.    All of the information and observation can also be compiled and reported to the                            businesses to provide assurance and convince that Groupon is a good platform for                          them to get word about their goods or services out, and positive performance will                            boost Groupon’s reputation as a good platform to advertise businesses, and naturally                        more   deals   will   be   struck   over   time.    Goal   4:   Improving   Customer   Experience    a. Measurable   Goals     The key idea reiterated by Groupon in its aim is to strive towards reducing friction in                                both   the   redemption   and   buying   experience.    For redemption, improving this would be to evaluate the process beyond the scope of                            their website, refining their on­the­ground processes and improving their information                    systems   to   trigger   reminders   to   prevent   unintended   expiry   of   coupons.     We are inclined to believe that the buying process can be analysed through making                            inference from data generated through the application of web analytics. The                      measurable goal is to see that the average time taken to complete transactions will                            decrease,   as   an   indicator   that   the   buying   process   is   easier.    b. Dimension   and   Metrics    There are two methods to go about doing this. It is possible to view the aggregate data                                  and make general observations, and also take a sample of individual cases using                          real­time   data   to   make   improvements   to   consumer’s   buying   experience.    In the first approach of making inferences from aggregate data, the metric that                          provides some relevance is the “average session duration”, “transactions” and the                      “e­commerce conversion rate”. It may be useful to split the users up by behaviour ­                              new against returning users (dimension) (Audience > Behaviour > New vs Returning)                        28 
  29.   as it is generally accepted that returning users would generally be more familiar with                            Groupon’s   interface   and   model,   and   would   thus   produce   different   results.    With the information deduced from the metrics, it is then possible to deduce an                            average time needed to complete transactions, as a measure of how quickly they are                            able to complete their transactions. This would be a broad indicator for the ease of                              completing a transaction on Groupon’s interface. Equation 2 sets out how this can be                            done.    ­­­­   (2)vg Time   A =   No. of Transactions (Avg Session Duration)(No. of Sessions)(E Commerce Conversion Rate)−     (Limitation is that you don’t know what amount of their time is attributed to actually                              completing   the   buying   process   and   not   just   window   shopping)    Another avenue to consider looking at is to take a sample size of the active users and                                  deduce on a case­to­case basis what are the qualitative problems they are                        experiencing. Groupon can take look at individual remedies to assist users in making                          their transaction completion time shorter. They would have to make use of the                          information provided for “active users” on “active pages” (metrics) based on the                        “content”   (dimension)   classification.   (Real   Time    >   Content).  34   Under this reporting, it would be shown what the active pages are. It would then be                                possible filter the active pages, and see if there is any bottleneck that currently exists                              at any point of the transaction by making a comparison of the active users at fixed                                time intervals. If for any reason any page (which is part of the transaction process)                              seems to consistently have a lot of users with little reason, it would then be                              appropriate for Groupon to consider looking at the individual page to see if there is                              indeed any issue with the webpage and see if there’s a need to improve it to make the                                    buying   process   easier     Goal   5:   Capitalising   on   Mobile   Platforms    a. Measurable   Goals    It is possible for Groupon to make a direct measurement of the number of users there                                are on its platform. For the purpose of clarity in assessing this goal of utilising mobile                                platforms, Groupon should monitor the nominal number of mobile users there are                        using its platforms. In addition, they may also want to compare the statistics that give                              a comparison of the percentage growth of users on mobile platforms as compared to                            the   total   number   of   users.    b. Dimensions   and   Metrics    The relevant metrics that can be considered are those under the acquisition categories:                          sessions, % new sessions and new users (Audience > Mobile > Overview). The                          dimensions   that   are   relevant   to   quantifying   this   goal   are   the   device   categories.   34    Google   Analytics   has   recently   announced   a   beta   trial   for   real   time   analytics   in   May   2016,   more   information  can   be   found   here:    https://developers.google.com/analytics/devguides/reporting/realtime/v3/ .  29 
  30.     Whenever there are generic promotional efforts that are made to promote the viability                          of using mobile platforms, it is possible to access the metric ­ sessions, with the                              primary dimension being the device category to make a statistical comparison of how                          the general effectiveness has been. Equation 3 defines how the growth can be                          calculated.    ­­­­­   (3)rowth of Mobile Sessions G = V aluet=0 V alue  V aluet=1− t 0 −     This formula can be applied in a passive situation as well, to determine what is the                                growth of mobile sessions in regular times. A comparison can also be made to                            sessions from other device categories ­ desktops and tablets, to see how the relative                            growth   is.    To counter the uncontrolled factor posed in the situation above, it is then possible for                              Groupon release specific promotional codes to stimulate activity on mobile portals.                      This is a more effective way of measuring the achievement of this objective as it                              would   directly   trace   the   effort   to   the   results   that   it   generates.     Building on the configuration as suggested earlier (Audience > Mobile > Overview),                        some   more   qualifications   can   be   made.   The   following   can   be   applied:    1. Dimension­   Secondary   Dimension:   Internal   Promotion   ID  2. Metric   Comparison   ­   Sessions   vs   Conversions:   Goal   1:   Purchase   Completed    This would provide Groupon with a item­to­item analysis on which promotional                      codes, which are most likely unique to the respective advertising campaigns. These                        amendments will provide the extent of how Groupon’s campaigns have been                      successful individually, and aggregate data to show how much the goal has been                          achieved.          30 
  31.   3.1.4   Limitations   in   Google   Analytics   Metrics   for   Groupon     Although Google Analytics is rather useful in helping analysts make decisions and propose                          recommendations for Groupon to adopt in order to improving its marketing strategies and                          generate   more   revenue.     a. Tracking   of   Customers’   Behaviour    To improve the customer experience, Groupon can consider determining what                    problems customers face when interacting with their website. With the metrics                      provided by Google Analytics, the current solution is to look at where people appear                            to be stuck over a period of time to see what needs to be improved. There is no                                    certainty as to where they are stuck. Although with the information provided by                          Google Analytics, certain decisions can be made, but there is a limit in how accurately                              the   priorities   are   assigned   to   improving   specific   pages.      b. Determining   Retention   of   Customers    Google Analytics provides the metrics qualified by individual dimensions, but                    requires some inference of the data to make a judgement call for action. It would be                                better if more clear­cut information was available to entities applying the web                        analytics so that they would be able to make their decisions more quickly and the                              breakdown   of   analysis   is   available   in   other   web   analytics   solutions.     Alternatives to Google Analytics that can be used to reduce the limitations posed are                            suggested   in    Section   3.1.5 .          31 
  32.   3.1.5   Comparison   to   Other   Web   Analytics   Tools   for   Groupon    The limitations in Google Analytics will inhibit Groupon from being more efficient with                          analysing their data and making decisions relevant to their operations. It would then be useful                              for us to make reference to the other web analytics tools in a bid to mitigate the limitations                                    that   are   posed   in   the   application   of   Google   Analytics.     There are several tools that can possibility improve the efficiency of processes that Groupon                            undertakes to measure the extent they have achieved their measurable goals. This will be                            discussed   below:    a. KISSmetrics    The custom reports that KISSmetrics can generate allows entities viewing the data to                          perform customer behaviour tracking, and reporting is based on person­centric data.                      Being able to receive this information would help them fulfill their goal of improving                            consumers’   experience.     The main feature that will appeal to Groupon in this case is a generation of a list of                                    people that didn’t take the next step. In addition, there will also be information on                              which customers’ behaviours have changed over time . This is opposed to Google                       35 Analytics, which only displays the metrics in an aggregate form, and requires the                          analyst to make an inference and deduce where are the points where there are                            bottlenecks for customers. Judgement would involve some inaccuracies, and the risk                      of   inaccuracies   is   mitigated   with   the   precise   data   that   KISSmetrics   displays.     b. Woopra    This web analytics tool will give entities detailed data analytics that allow them to                            identify them as “conversion killers” on the websites . There is a follow­up point that                           36 they feature ­ WebHooks, which automates actions in response to what the entity’s                          customers are doing as they are doing it, with instant notifications for the relevant                            webmasters. They also offer funnel reports to pinpoint where customers remain                      stagnant for a period of them, and subsequently track the effect of the changes made                              in response. There are retention reports ­ which are useful in telling Groupon how                            effective their long term efforts are. It appears that Google Analytics is focused more                            the metrics, and reports like these which pinpoint users with such accuracy is not the                              same.       35    (TechnologyAdvice,   2016   ­   a)  36    (TechnologyAdvice,   2016   ­   b)  32 
  33.   3.2   E­Service:   Overseas   Chinese   Banking   Corporation   (OCBC)    OCBC Bank is Singapore’s oldest and most established bank that was formed in 1932. OCBC                              has bought over many other non­banking businesses and expanded its own range of services,                            to   provide   the   following   to   the   community .   Some   of   the   bank’s   core   businesses   are: 37   a. Banking   Services    OCBC has formulated many services to cater to different groups of people and these                            include the normal customer, businesses and investors. OCBC also provides                    transaction banking to Small and Medium Enterprises (SMEs) as well as government                        organisation. OCBC also engages in global treasury activities such as foreign                      exchange, money markets and treasury products in order to cater to the investment                          and   hedging   needs   of   their   customers.     b. Private   Banking    These are services that cater to individuals and families with a high net worth, as well                                as to private businesses. Such services are provided mainly by Bank of Singapore,                          which   is   a   subsidiary   of   OCBC   Bank,   and   a   global   private   bank.    c. Insurance    Great Eastern Holdings, an insurance business and a subsidiary of OCBC Bank,                        provides insurance services for customers of OCBC. Being the largest insurance                      group in Singapore and Malaysia, acquiring Great Eastern is OCBCs way of                        increasing   its   revenue   by   branching   out   from   commercial   banking   services.    d. Stockbroking    The main service provided by OCBC for stockbroking is known as OCBC Securities.                          OCBC Securities makes use of an online platform for access into stock markets and                            execution. It provides a wide range of brokerage services for international securities,                        futures   and   foreign   exchange.    OCBC maintains an online presence which helps them disseminate information about their                        key products and services. In addition to this, they also offer e­banking services to                            consumers, which effectively is a viable substitute to what would otherwise have been                          transactions made over the counter at its branches, or at its Automated Teller Machines                            (ATM).          37    (Overseas   Chinese   Banking   Corporation,   n.d.   ­   a)  33 
  34.   3.2.1   Objectives   of   OCBC     The current relevant objectives of OCBC with respect to its marketing endeavours are                          summarised   below,   with   reference   to   their   2015   Annual   Report : 38   a. Interaction   With   the   Public    The main objective of OCBC is to maintain a consistent connection with the people                            and community. OCBC seeks to ensure that their services are suited and specially                          catered to people with different needs and preferences. This can be achieved with                          constant interaction with the public and the community, to find out what they need                            and   prefer.     b. Improve   Online   Presence    OCBC seeks to further improve its online presence in order to reach out to people                              from all age groups and to create brand recognition. Frequent connection and                        interaction requires OCBC to have a substantial online presence, given today’s                      increasing   reliance   on   online   technologies   such   as   smartphones   and   social   media.    c. Accessibility   of   Online   Services    OCBC strives to make their online banking services more user friendly and accessible                          to all smartphones users so as to increase convenience for their customers. Currently,                          only iOS users can access OneTouch, an online service that allows customers to view                            their bank transactions and bank details from their mobile phones. This limits the                          number of users who can make use of this online service as users of android and other                                  operating systems are unable to use OneTouch. The convenience and benefits of this                          service is currently only provided to a certain group of people and this is an issue                                OCBC   is   looking   to   remedy   in   the   near   future.    d. Increase   Revenue    As a profit driven firm, one of their key objectives is to increase revenue. With more                                revenue, OCBC will have more resources for investments to further improve its                        service quality to customers. An increase in revenue will also reflect well on the their                              prospects   and   improve   investor   confidence   towards   the   firm.    e. A   Relevant   Workforce    OCBC looks to enhance the capabilities of their workforce by enhancing their                        skillsets through constant retraining and skills upgrading. Having a relevant                    workforce with up­to­date skills and expertise will ensure that customers are served                        properly with care and dedication. A workforce that understands the needs of the                          people and society is extremely important to a company such as OCBC due to the fact                                that the core businesses of OCBC are heavily customer centric and therefore, ensuring                          their   customers   are   satisfied   is   crucial   for   their   success   and   survival   as   a   business.   38       (Overseas   Chinese   Banking   Corporation,   2015)  34 
  35.   3.2.2   Revenue   Models   of   OCBC     OCBC generates revenue through the provision of a variety of services and have diversified                            beyond the scope of purely commercial banking services. As mentioned in Section 3.2.1 ,                          besides commercial banking, OCBC also has expertise and knowledge in areas such as                          investments, insurance and private banking. OCBC has modified some of their services to                          provide even more diversification. An example would be FRANK by OCBC, which is geared                            towards the youth and young working adults of Singapore. By diversifying into areas besides                            its commercial banking services, OCBC can ensure sustained and greater profits in the long                            run.    OCBC also sells insurance plans under their subsidiary Great Eastern Holdings. Providing                        insurance coverage is a core business of OCBC, therefore a significant portion of total                            revenue will come from the selling of insurance plans. OCBC has a variety of insurance plans                                available which provide for many aspects of life such as travel, car, mortgage and                            endowment. The various insurance plans available give customers the freedom and flexibility                        to   choose   and   it   has   been   one   of   the   main   revenue   models   for   OCBC.    OCBC has a substantial online presence to provide convenience to customers. An example of                            such an online presence on OCBC’s part is the new digital service know as ‘OneTouch’,                              introduced in 2015 to allow customers to access their bank account details, transaction and                            the various banking services using their own smartphones. All these implementations are                        aimed at providing customers with more efficient and convenient banking services. Such                        efficiency and convenience allowed OCBC to be more advanced in terms of technological                          use as compared to its competitors and enabled it to attract more customers and hence                              increase   revenue.             35 
  36.   3.2.3   Measurable   Goals,   Dimensions   and   Metrics   for   OCBC     At the core of OCBC runs three main lines of businesses. They are retail and commercial                                banking, wealth management, and insurance. One of OCBCs main area of expertise is in its                              investment in technology and integrating it seamlessly into its core businesses. This in turn                            allows OCBC to generate even greater revenue and increase their presence in Asia and                            Southeast Asia . Improving the technology aspect helps OCBC to achieve its objective of                         39 reaching   out   to   the   general   public.     An easy and effective way to monitor the effectiveness of OCBC’s online ability to generate                              income is to make use of web analytics. Web analytics can be employed to identify areas in                                  OCBC’s online strategies that need improvement. This helps OCBC to identify less effective                          areas or strategies and remedy these problems without wasting too much time. Web analytics                            can be used to track customer interaction and how it can be further improved in order to                                  follow   its   business   model   of   investing   in   people   and   technology.      Goal   1:   Interaction   With   the   Public    a. Measurable   Goals    To ensure a constant connection with the public, the content produced must be                          relevant and interesting to the general public. In order to ensure successful interaction,                          OCBC needs to find out which of their existing content is most visited by the general                                public. Identifying the most visited content categories can help OCBC to produce                        more   relevant   information   to   attract   people   and   viewers.      b. Dimension   and   Metrics    As part of their efforts to ensure constant interaction with the general public, OCBC                            has its own website dedicated to providing financial information and the type of                          services that it offers to readers. OCBC can make use of the “Interests” metric in                              Google Analytics (Audience > Interests > Overview > Affinity Categories) to find out                          which of the content is most appealing and most visited to readers by tracking the                              number of visits to that particular content. The report will then show several interests                            groups in OCBC’s website and also shows the most visited content page. OCBC can                            then produce more of such content from the same genre to attract more readers and to                                ensure that its content is appealing to readers. This will make constant interaction with                            the   general   public      much   easier.          39    (Overseas   Chinese   Banking   Corporation,   n.d.   ­   b)  36 
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