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Data Driven Marketing
 

Data Driven Marketing

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David Cancel, founder and CEO, Performable

David Cancel, founder and CEO, Performable

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    Data Driven Marketing Data Driven Marketing Presentation Transcript

    • Data-Driven Marketing Startup Marketing Bootcamp Cambridge, MA - October 2010 by David Cancel - @dcancel
    • “In God we trust; all others must bring data.” - W. Edwards Deming
    • David Cancel @dcancel
    • Who am I Companies Advisor Investor
    • http://www.performable.com/ @performable
    • The Problem: 98% of the people who visit your site, leave never to return.
    • 2% “The average conversion rate in the United States of America whether you're selling elephants or iPods.” Avinash Kaushik - Analytics Evangelist, Google
    • The Solution: Our software helps you find, engage and convert more of your website visitors into customers.
    • Performable Analytics
    • Online Marketing is shifting.
    • Online Marketing Paradigm Shift Outbound • “Visitors” not People • Display & Search Advertising • What’s a Conversion? • Website • Get more Pageviews 1st Generation
    • Online Marketing Paradigm Shift Outbound Inbound • “Visitors” not People • “Leads” not People • Display & Search Advertising • Content Generation • What’s a Conversion? • SEO Black Magic Hacks • Website • Convert via Brute Force • Get more Pageviews • Acquisition not Conversion • Website + Social Media • Get more Leads 1st Generation 2nd Generation
    • Online Marketing Paradigm Shift Outbound Inbound Lifecycle • “Visitors” not People • “Leads” not People • People & Customers • Display & Search Advertising • Content Generation • The Message is the Product • What’s a Conversion? • SEO Black Magic Hacks • Service not Marketing • Website • Convert via Brute Force • Referrals not Affiliates • Get more Pageviews • Acquisition not Conversion • Conversion not Acquisition • Website + Social Media • Your Brand is Everywhere • Get more Leads • Get more Customers 1st Generation 2nd Generation 3rd Generation
    • by Joshua Porter Outbound Inbound Lifecycle Marketing Marketing Marketing Internet Marketing 3.0 Different Goal
    • Customer Analytics Relevant Customer Marketing Service Components of Lifecycle Marketing
    • http://www.flickr.com/photos/joao_trindade/4363149160/
    • Optimize your startup for learning by creating a data-driven marketing framework.
    • Analytics & A/B Testing are also not the answer.
    • Use quantitative & qualitative data to test YOUR assumptions.
    • A/B Testing. Multivariate Testing. Huh?
    • Multivariate Testing is Useless.
    • You are way too small to matter.
    • The point of testing is to prove or disprove assumptions quickly.
    • Multivariate testing leads to a non-gratifying experience because it takes too long.
    • The vast majority of sites should only use A/B testing. This means you.
    • Shameless Plug: Learn by example ABTests.com
    • Always Be Testing Just Don’t be Stupid.
    • The Local Maxima Problem A Better Design Your Design Optimized at Local Maxima Current by Joshua Porter
    • Optimize your startup for learning not data.
    • The 3 Steps to Data-Driven Startup Enlightenment
    • Data-Driven Startup Checklist ★ Operating Dashboard ★ Conversion Funnel Analysis ★ Cohort Analysis
    • Skip the fancy shit and use Google Spreadsheet. Ghettofabulous.
    • Step 1: The Operating Dashboard.
    • A single place for your entire team to see where you suck the most.
    • Fictional Company-wide dashboard Everyone! Including interns.
    • Every initiative has to map to positive changes in these numbers.
    • Kill all features that don’t improve your operating metrics.
    • Only move to the second step after you’ve mastered the Operating Dashboard.
    • Step 2: Conversion Funnels
    • Metrics are fun, but Funnels kick ass.
    • Fancy Forget pretty visualizations
    • Pretty Wasted time
    • Keep it raw & ugly Do this tomorrow morning.
    • Monitor your funnel weekly to see how changes are impacting your business.
    • If you aren’t doing this you are implementing lots of useless features.
    • Features that will waste your precious time.
    • Step 3: Cohort Analysis
    • This is the “shot caller” of all analyses. Respect.
    • Cohort Analysis by Fred Wilson (post)
    • Without a cohort analysis you are flying blind.
    • Is your churn going up or down?
    • You don’t have a clue until you’ve done a cohort analysis.
    • Cohort analytics is in closed beta. Apply at Performable.com.
    • Focus on your customers. Not data.
    • Only one thing matters.
    • Does anyone care about your product?
    • Remember that your goal is simple!
    • Happy Customers
    • Thank You! David Cancel Twitter: performable http://www.performable.com