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To succeed today, brands need to be creatively powered and data-driven. Marketers need to focus on what really matters, recognize meaningful patterns and trends, and share insights and take action with teammates. In this session, we'll discuss: - The 4 steps to being data-driven. - How traffic sources fit together and what this tells you about the changing context of your customer. - What is attribution and why is it important? The more you see, understand and use your data to build on what works and eliminate what doesn't, the better you can connect, communicate and sell.
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Do what you love, Measure what you do. 4 steps to building a successful, data-driven online brand.
Katie Iles and Monica Pereira Katie co-founded Nine Lines, a strategic marketing agency specializing in online retail. Monica directs Nine Lines accounts and strategic marketing. We’ve had the pleasure to work with 40 brands over the last 4 years from FILA, Marc Ecko and John Varvatos to emerging brands like Jack Erwin and Bib + Tuck. Recently, we launched Tycoon, an easy-to-understand analytics app for ecommerce teams. Download it today for Beta pricing and a 30 day free trial! Katie and Monica are faculty members at General Assembly where Nine Lines leads the global Digital Marketing program. Education is incredibly important to us. Tycoon – www.tycoonhq.com Nine Lines – www.ninelin.es
Hello!
Is this really how you shop?
Consider Evaluate
BuyEnjoy
Advocate
Bond
Loyalty Loop
Customer Decision Journeyby Harvard Business Review
The Marketing Map aka how the channels fit together
Prospect Quality Does this person resemble your target customer?
Conversion Probability Is this person ready to buy?
Conversion Probability
Prospect Quality
Brand Awareness Point of Sale
Beware: Unreliable
Avoid Like The Plague
Conversion Probability
Prospect Quality
Dis
play
Social Media Email
Retargeting
Affi
liate
Mar
ketin
g
Brand Search
Generic Search
1. Determine KPIs 2. Establish normalcy 3. Suspect exceptions 4. Compare + contrast
4-steps to being data-driven
1. Determine KPIs Visits * Conversion Rate * Avg Order Value = Revenue
4-steps to being data-driven
Scale metric Answers: “How many?”,“How much?” Examples: Visits, Revenue
Efficiency metric Answers: “What percentage?”, “How productive? Examples: Conversion rate, Open rate, Clickthrough rate, ROI
What’s a KPI? Key Performance Indicators are the most important metrics for measuring your business.
Don't be afraid to look beyond commonly cited KPIs to find the most important metrics for your business.
2. Establish normalcy Know your typical daily, weekly and monthly numbers.
4-steps to being data-driven
Historical comparisons Triangulate performance with 2 of these 3 comparisons.
% vs. Sequential % vs. Average % vs. Last Year
Same time just before. Today vs. Yesterday This month vs. Last month This week vs. 4-week average
Same time last year. Today vs. This date last year March ‘14 vs. March ‘13
Average performance. Today vs. Daily Average This month vs. Monthly avg.
3. Suspect exceptions If something deviates outside your normal range - above or below - investigate it thoroughly. You may discover a problem that needs fixing, or uncover a new opportunity.
4-steps to being data-driven
4. Compare + contrast Why does search traffic see better conversion rates than Facebook visitors? (hint: remember the marketing map!) What products are outperforming the norm?
4-steps to being data-driven
Link tracking Ask your customers where they came from.
SOURCE
MEDIUM
Ad
CAMPAIGN
New Jeans
Time For New Glasses? !
warbyparker.com !
Our new Linwood !glasses are flying!off our digital shelves!!
Check them out here! !
Link tracking Ask your customers where they came from.
http://www.warbyparker.com/men/optical/linwood-revolver-black-m?utm_source=tellapart&utm_medium=retargeting&utm_campaign=product_feed_retargetting
http://www.warbyparker.com/men/optical/linwood-revolver-black-m
vs
Link tracking Ask your customers where they came from.
Link tracking Ask your customers where they came from.
SOURCE
MEDIUM
Ad
CAMPAIGN
New Jeans
Tag sources based on the specific traffic source.
Link tracking Ask your customers where they came from.
SOURCE
MEDIUM
Ad
CAMPAIGN
New Jeans
Tag mediums based on the broader category (e.g. email).
Link tracking Ask your customers where they came from.
SOURCE
MEDIUM
Ad
CAMPAIGN
New Jeans Tag campaigns based on the insights you’re trying to draw.
Link tracking is tedious critical. 100% worth it!
Your website URL
3 UTM elements: - Campaign Source - Campaign Medium - Campaign Name
Google URL Builder
One last thought…
MARKETING ENTANGLEMENT
Quantum entanglement Two separate particles are not independent – even when separated across space and time.
Marketing entanglement Two separate interactions are not independent – even when separated across space and time.
Marketing entanglement Your customer doesn’t experience ‘channels’.
A holistic customer experience Deserves a holistic marketing (and measurement!)strategy
Consider Evaluate
BuyEnjoy
Advocate
Bond
Loyalty Loop
Customer Decision Journeyby Harvard Business Review
The Last Click
Consider Evaluate
BuyEnjoy
Advocate
Bond
Loyalty Loop
Customer Decision Journeyby Harvard Business Review
Viewthrough Conversions
Consider Evaluate
BuyEnjoy
Advocate
Bond
Loyalty Loop
Customer Decision Journeyby Harvard Business Review
Press Retargeting Email Search
Buy Now
Press Retargeting Email Search
Buy Now
Viewthrough Conversions Clickthrough Conversions
Data is a proxy for people.
Analytics won’t tell you everything. Don’t try to explain customer behavior without understanding what they’re going through. When was the last time you purchased something from your website? Have you tried it from your phone or tablet recently?
Recommended reading
Web Analytics 2.0 By Avinash Kaushik
“Don’t Make Me Think” By Steve Krug
“Information Dashboard Design” By Stephen Few
Katie Iles [email protected] Monica Pereira [email protected] Tycoon Website - www.tycoonhq.com Twitter - @tycoonhq Instagram - @tycoonapp App Store – “Tycoon Analytics” Nine Lines Website – www.ninelin.es Twitter - @nine_lines
Get in touch!
