Visitor numbers are interesting, but in order to determine the actual value of website visitors, you must gain insights into their level of engagement. EngageScore is a unique real-time scoring method which, based on consumption, participation and contribution, shows the average level of engagement of your current website or webshop visitors in real time.
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Welcome to EngageScore
Visitor numbers are interesting, but in order to determine the actual value of website
visitors, you must gain insights into their level of engagement. EngageScore is a unique
real-time scoring method which, based on consumption, participation and contribution,
shows the average level of engagement of your current website or webshop visitors in
real time.
What does Online Engagement actually mean?
Online Engagement is a user's level of interaction on a website or webshop, Facebook,
Twitter etc. The greater the interaction, the higher the level of Engagement.
Online Engagement may occur either within your own domain (your website or webshop)
or outside it. Examples of the latter include Facebook or Twitter. EngageScore currently
focuses on measuring Engagement within your own domain.
How can Online Engagement help you?
Engagement will have a different meaning for each website or webshop, as each website
has its own objectives and audience. You will need to operationalize your engagement
based on the objectives of your website or webshop and the characteristics of the target
group(s).
Sample objectives might include:
Visits: Increasing the number and frequency of visits
Feedback: Receiving feedback about your service and/or products
Co-creation: Developing new products or services together with the target group
Brand perception: Influencing the brand perception
Loyalty: Increasing customer retention and extending the customer lifecycle
Sales: Generating extra turnover
Which forms of Engagement exist and what value can they offer to an
organization?
There are various forms of Engagement within your own domain, such as:
Consumption: The actual visiting of the site (the reading of the content) expressed in
terms of the time spent on the site, page views (per visitor), bounce rate, repeat visitors
vs. new visitors, direct or indirect traffic.
Participation: These tend to be 'soft conversion indicators' such as the number of times
the desired action is taken. These include calculating personalized quotations or
requesting detailed information.
Contribution: Sharing one's own content on the site, reviewing products, leaving
comments on pages and blog posts, giving feedback or subscribing to the newsletter &
RSS feed.
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The value of “consumption” and “participation” can be quantified by making a distinction
between hard and soft conversions:
The hard conversions which are achieved on a page can easily be translated into hard
cash. The number of goals (products sold, leads or requests generated) multiplied by the
(net) value provides a good indicator of the revenues. Calculating the ROI then involves
working out the revenues minus the invested online budget. This can then easily be
broken down into costs per visitor.
The soft conversions can be measured by attaching a value to the soft conversion. For
example, if it becomes apparent that for every 100 people who calculate a premium, 10
actually buy one, it is possible to attach a value to this soft conversion and to modify the
online communication statements accordingly.
Why is Engagement important?
Engagement is a very important online success factor, as it has a predictive value. If
your visitors are 'engaged', you can be sure that they will return frequently, have a
positive brand perception, tell friends about your products and the brand and buy
relatively often.
IQNOMY’s EngageScore will actively help you to improve your website in a targeted
manner by revealing any sticking points. This immediately shows you which adjustments
you must make in order to quickly and easily increase the level of engagement of your
visitors.
Measuring Engagement: IQNOMY EngageScore
The IQNOMY EngageScore currently consists of the Dashboard which is divided into
several blocks. An explanation of each block is given below:
IQNOMY EngageScore is a unique real-time scoring method which, based on
consumption, participation and contribution, shows the average level of engagement of
your current website or webshop visitors in real time and compares it with the previous
week. The maximum EngageScore is 5.00.
EngagePoints shows the total number of Engagement points for the current day and
compares it with the previous week. These points are based on the actions taken by the
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visitors. The greater the effort made by a visitor, the more points are awarded. For
example, someone who is writing a product review will spend more time doing so than
someone who is signing up for the newsletter.
In essence, the formula for determining the EngagePoint value is based on an average
value of your visitors’ time of € 42.50 per hour. A commenter with an average level of
engagement, for example, will take 5 minutes to read and respond. Each EngagePoint
represents a value of € 0.47 ($ 0.62).
Examples of EngagePoints:
Direct visit to the site: 2 EngagePoints
Visiting 3 pages: 3 EngagePoints
Visiting 6 pages: 6 EngagePoints
Subscribing to the newsletter: 5 EngagePoints
Hard conversion: 10 EngagePoints
Sharing via Twitter = 7 EngagePoints
Writing a review = 10 EngagePoints
Bookmarking via Delicious = 5 EngagePoints
VisitorValue shows the average financial value of a current visitor and compares it with
the previous week. As the average financial value of a visitor increases, the chance of a
higher conversion rate will likewise increase. The standard value is based on € 0.47 ($
0.62) per EngagePoint. As more use is made of the EngageScore, this will be refined for
each sector.
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EngageValue shows the potential value of your current website visitors and compares it
with the previous week. The standard value is based on € 0.47 ($ 0.62) per EngagePoint.
As more use is made of the EngageScore, this will be refined for each sector.
Expected EngageValue predicts the current EngageValue based on historical data.
Check out www.engagescore.com for more information
Click here to start your own free IQNOMY EngageScore account.
Happy Engagement,
The IQNOMY team
Questions? Suggestions? Please mail us via support@iqnomy.com, or call +31-13-
4653430