let the data be your guide - marketing analytics 1,2,3
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Don't be overwhelmed by Data and analytics - Learn how to put marketing data to work to gain valuable customer insightsTRANSCRIPT
Let the Data Be Your Guide
How to put data to work to gain valuable customer insight
"To measure is to know.”- Lord Kelvin
Steve Riegel Founder, Director of Insights
Demographic+ Male+ 35-55+ Homeowner
Psychographic+ Entrepreneur+ Heavy Internet user+ Hockey fan/player
+ Father of twins+ Expertise in data analysis+ Likes to make lists of three
Sociographic
Faction Media at a glance
Faction Media was founded on the principles of digital marketing:
know your audience, value their time, and use data to repeat success.
+ + + + + +
Fortune 500Clients5Years Old(Started 2005)6
Employees(and counting)50Results-based
Awards110MillionAnnual Billing$12
Headquartered in
DenverWith an office in
Phoenix
Thought LeadershipPartners are active in local and
national organizations, serve as judges in marketing competitions and
contribute to industry publications.
Tech
nolo
gy
Part
ners
WHY OUR JOBS ARE GETTING MORE COMPLEX EVERY YEAR
1994
2012
2005
XML
HTML 2JAVASCRIPT
SITES: 3.3 MILLION SITES: 346 MILLION
AJAXCSS3
HTML5WEB APPS
SMARTPHONE
LINKEDINYOUTUBE
DESKTOPTABLET
LAPTOP
THE CHALLENGE: KEEPING UP WITH THE DATA EXPLOSION6
NPR SHOWS MORE ONLINE DATA IS CREATED EVERY MINUTE7
OVERWHELMED BY DATA?
A survey of marketing leaders by CMO.com and Adobe in 2012 found that just 20% had full confidence in their ability to perform these basic tasks:
+ Measure overall campaign effectiveness
+ Allocate budget with ROI in mind
+ Communicate performance to C-level executives
YOU ARE NOT ALONE...
Analytics should do more than inform your business.
They should transform your business.
9
TEST MEASURE MODIFY
(AND REPEAT)
LET’S REVIEW THE BASICS OF ANALYTICS
GETTING STARTED
DEFINE ‘TRUE’ BUSINESS GOALS
12
Before you ever launch a campaign, you need clear answers to these questions:
1) Who is your audience?
2) What do you want them to do?
3) How will you measure success?
WHO IS YOUR AUDIENCE?IDENTIFY VALUE & VOICE THROUGH PERSONAS
13
C-LEVEL IT IT MANAGERS LINE-OF-BUSINESS END USERS
TRADITIONAL INFLUENCE CHAIN
TODAY’S INFLUENCE CHAIN
ACQUISITION
How did they get there?
Traffic drivers: Search, Display, Social, Campaigns, Email, etc.
SEGMENTATION
Who are they?
The “Graphics”: Geo, Demo,
Pyscho, Techno, Audience, Logged in,
etc.
ENGAGEMENT
What did they do?
Event Based: Video, Download,
Consume, Register, Navigate
RETENTION
Did they come back?
Repeatables: Loyalty programs,Visit/sales intervals
Multi-touch
WHAT DO YOU WANT YOUR AUDIENCE TO DO?IDENTIFY MEASUREMENT AROUND WHAT WE MAY KNOW
Move beyond reporting on impressions, clicks and leads. Take time to think inside these boxes.
1) Define your key performance indicators (KPIs) 2) Determine how you will define success (what to measure against)3) Decide how results will be reported (to whom, when, where, how often)
HOW WILL YOU MEASURE SUCCESS?SETTING UP REPORTING
Key Business Goals Key Audience Success Event KPIs
Decrease customer support costs Current Clients
Drive customers to self service documents
1) Customer survey scores2) Download ratios
Increase sales opportunities Potential Clients
Drive leads to registration
conformation
1) Conversion Rate2) Campaign Bounce Rate
DURING CAMPAIGN
Don’t just report data. Be a change agent.
Fundamentals of change+ Get visual
Data is everywhere, make it easy to consume with dashboards
+ Do the mathRate your success on as many facets of the campaign as possible
+ Act on data Make small changes, but don’t day trade
“Be the ball, Danny”Caddyshack
Political Skills
Number Cruncher
BusinessAcumen
ChangeAgent
Leader Analyst
Siren
GET VISUAL
CUT THROUGH THE CLUTTER
18
For every campaign, get a dashboard to:
+ Segment your audiences
+ Identify the who/what/where/when
+ Look for unexpected in the how/why and dive in deeper when you see it
DO THE MATH
BEHAVIOR MEASUREMENT
19
Assign relative values to website actions:
+ Set values for major campaign goals
+ Set values for site activity and other success elements (report by traffic drivers, campaign elements, key visitors, segments, etc.)
+ Compare value per visitor by each tactic, invest in those that work best
XcelEnergy $5
Switch to RBN $1
EnergyStar $1
State Agencies $1
Social connect/links $1
Success Stories $3
Video Gallery $3
Downloads $3
EE Quick Tool Launch $3
CO Download Submit $2
Contact Us $10
Mail to $10
Small Biz Registration $10
NM Cooing Registration $10
CO Cooling Registration $10
Small Biz Reg Form Visit $5
Business ContactsBusiness Engagements Business Links
ACT ON THE DATA
Be flexible and make adjustments as you go
by changing tactics based on data, offers,
subjects lines, positions, paths into lead forms, content locations, etc.
Check numbers after each wave
and be prepared to optimize as needed (without getting too
carried away)
Find out ‘why’ users do what they do
with surveys driven by site actions
OPTIMIZE FOR NEXT CAMPAIGN
Being insightful is...having the perspective to articulate the obvious and the ability to provide meaningful direction.
+ Perform quantitative analysis
+ Do your best qualitative analysis
+ Identify successes and failures
AFTER CAMPAIGN
Being nimble is...finding the right balance between observing and acting.
+ Be reflective but responsive
+ Constantly re-evaluate your goals
+ Use data to drive organizational success
AFTER CAMPAIGN
"There is nothing new to be discovered... All that remains is
more and more precise
measurement."
- Lord Kelvin
