Analyze This -All Things Analytics
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Analyze This -All Things Analytics

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How should a company leverage analytics to improve revenue?

How should a company leverage analytics to improve revenue?

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  • Full Name Full Name Comment goes here.
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  • @bhansen3: sorry the slides ARE hard to read- I posted them with the notes from the presentation- that is why the English is incomplete- they are only notes.
    If you would like to see the slides without the notes to be able to see better, I will upload that as well.
    And you are right, at the base of it this all all stuff we have known for centuries, people tend to forget that because it is the 'internet'. Basic theory still applies, just the how has been updated and happens much faster.
    thanks for your comment
    ~e
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  • Horrible. The slides were the worst I have ever tried to read. The presenter did not speak proper English. Overall it was a bad redo of what we have known for centuries: Review the problem. Set goals. Identify target audience and address the. State benefits. Get response. Close.
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Analyze This -All Things Analytics Analyze This -All Things Analytics Presentation Transcript

  • All Things Analytics with Carole Mahoney, President of Mahoney Internet Marketing @minetmarketing linkedin.com/in/carolemahoney facebook.com/mahoneyinternetmarketing @mahoneyinternetAnalyze this Google- you are not the end all and be all.Thanks to AdClub for Hosting- Stephanie at Shad’sAdvertising and Dan Routh at Burgess for putting thistogether. (love the creative from Dan!)Special thanks to Hubspot for sponsoring! Story how andwhy I asked them to sponsor, who they are and what theydo and how we work together.
  • • Analytics doesn’t Marketing & Sales matter until the end. Analytics Myths • Analytics is for techie math geeks, not creative. • You can only react to data, not predict or plan. • It’s impossible to measure everything. • Analytics is too complicated for the lay person to understand.Some of the myths that I have heard from other agencies,business owners, and marketers. My goal is to give you areason why each one of these myths are untrue and giveyou some ideas on how to do it for your business and/orclient.
  • Analytics is... • Wikipedia.org says: “Web Analytics is the measurement of the behavior of visitors to a website. In a commercial context, it refers to the measurement of which aspects the website work towards the business objectives.” • I say: “Analytics is the measurement of ACTIONS web visitors take, (or don’t take) in their buying process. In a commercial context, it is the tool used to align the buying process to the organizational selling process, thereby aligning sales and marketing together to reach and communicate with the prospect or customer.” • In other words, use Analytics as the common language between you, your customer, your marketing team and your sales team.With everyone speaking the same language, it is mucheasier to understand what is going on, explore thepossible reasons why, and take action to improve orexpand it. Use it as common ground to have an open andlearning organization.
  • Analytics and the Funnel (s) Credit to J. Nimetz- Search Engine GuideBuyers have a process, sales people have a process, andmarketing has a process. No wonder everyone isconfused. So how can Analytics help reduce the frictionand increase revenue and a positive customerexperience?
  • (Analytics) Tools and the Loop Credit to HubspotEveryone claims to have the ROI solution. But who reallygets it?
  • (Analytics) Tools and the Funnel (s)It is really a smart integration that is needed to get trueclosed loop analytics. Tools that I recommend (and playnice together)
  • How to Start: 3 Steps for Inbound Internet Marketing (& Sales)A simplified scientific process for marketing and sales.Analytics is the backbone to every step.
  • Step 1= Think. • What are the business goals and consequences of not reaching those goals? How do those goals drill down to traffic, leads, conversion and retention? • Who is the best target customer, how they gather information, what motivates them, how they will approach the business in their quest for an answer? • What campaigns and tactics are you going to use to reach your quotas? What are the KPIs for those? • What do you need them to do at every step of the process? How will you measure their progress? How will you make improvements? • How will you define a qualified lead with sales? How will you collaborate with sales for everything from messaging to reporting?Think about your personas, align analytics metrics tovalidate the personas.You also need to think about how you will measuresuccess, what information you or the client needs toprove ROI, and what reports you need to analyzeoptimization recommendations.
  • Tactics for Step 1 Business Success KPI Goal Event Form conversion rate Completed RFP or RFI form Download Rate Increase online leads Downloaded Most visited page whitepaper Page/Form Bounce RateFor example, if you are running a PPC campaign you willwant to know:1-Impressions (or reach)2-CTR (or recorded response)3-Visits to page (interest)4-Time on page (interest)5-Conversion rateOffline measurement:If you are doing a radio spot, when does it air, to whataudience? Use a specific url for the radio ad (if possible)and measure the traffic to determine response to theradio spot.
  • Persona is not a new word. Who are your BEST customers? (It’s not everyone.)What is important to them? Personas= buying modes.Why should they buy from you? What is your unique sellingproposition? What do you do better than anyone?How do they describe their need? What keywords do THEY use?(not your industry lingo)How will they find you? Google? Facebook? Twitter? Forums?Blogs?How will they interact with you online? Conversion mapping-
  • Step 2= Do. • Wireframe • Design • Development • Content Creation • Social Media • E-commerce • Campaign Creation and launchWireframe before design. Determine how the site will function and flow.What pages are needed to drive traffic to? What additional info will yourcustomers need? What keywords will be used on those pages for SEO?Then bring in design with images and color. Function before form. = lessdesign changesDevelopment= according to the wireframe. Less mistakes, less redo.Content creation= Assign keywords to pages. List blog topics withcorresponding long tail keywords. (specific) Write whitepapers. Storyboard video, etc.Social media- share your content- set it free!Campaign creation and launch= events, promotions, lead nurturing.Email, PPC, Video
  • Prospects need and possible approach How they could enter the funnel The prospect’s questions Online (or offline) conversion Lead Nurturing & Qualification Customer RetentionFirst time I have shown this publicly.... welcome to thenew storyboard wireframe, or as I call it, the conversionmap.Answers it provides:What campaigns and tactics are you going to use to reachyour quotas? What are the KPIs for those?What do you need them to do at every step of theprocess? How will you measure their progress? How willyou make improvements?How will you define a qualified lead with sales? How willyou collaborate with sales for everything from messagingto reporting?
  • Step 3= Review (metrics according to the funnel) • Web Traffic Sources • Blog Analytics • SEO Ranking • Social Media Reach • (Campaign) Click Through Rate (CTR) • Conversion Rate (CR) • Cost per Lead (CPL) • Lead to Customer Rate (LCR) • Average Order Value (AOV) • Customer Lifetime Value (CLV)What increased CR, CTR? AOV? Are you on target to meetgoals? Do goals need to be revised? New tactics tried?In relation to analytics, run A/B & multivariate tests oncampaigns, in multiple channels. Test your content onweb pages and blogs, test the creative, test the targetaudience. What increased CR, CTR? AOV?
  • Metrics for the Web Traffic Sources Blog Analytics CTR LCR SEO Ranking CPL AOV CLV Social Media Reach CR CAChubspot and other tools in the funnel- a better image?
  • Results
  • Closed Loop Analytics Top of the Funnel Awareness/ Prospect Middle of the Funnel Customer Management (CRM) Interest/Rapport& Qualify/ ResearchClient Retention/ Cross Sell/ Service Bottom of the Funnel Commit/Close/ Purchase
  • Sales & Marketing AlignmentCredit to A.Mitra
  • What to do now.Trade Business Cards
  • Ask me about our partnership and alliance program.
  • Ask me about our upcoming training courses.
  • Ask me about Hubspot. (Join the evolution...)
  • Your turn.