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Data-Driven Marketing

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Presentation given at Startup Marketing Bootcamp in Cambridge, MA in October 2010.

Presentation given at Startup Marketing Bootcamp in Cambridge, MA in October 2010.

Published in Business , Technology
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Transcript

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