Measure What Matters: Measurement & ROI for Hyper Island Master Class
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Measure What Matters: Measurement & ROI for Hyper Island Master Class

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My presentation for the Measurement & ROI session at the NYC Hyper Island Master Class in JU

My presentation for the Measurement & ROI session at the NYC Hyper Island Master Class in JU

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Measure What Matters: Measurement & ROI for Hyper Island Master Class Measure What Matters: Measurement & ROI for Hyper Island Master Class Presentation Transcript

  • MEASURE WHAT MATTERSunderstanding measurement & roi for digital experiences
  • @FARRAHBOSTIC
  • 4 THINGS: WHY WHAT HOW(AND HOW TO SELL IT)
  • 1. WHY YOU SHOULD MEASURE
  • BINGO TIME KPI SIGN-UPS ON CPM IMPRESSIONS SITE CPA CPC REACH & FREQUENCY LIKES ENGAGEMENT SENTIMENT PAGE LTV ANALYSIS ROI FOLLOWS VIEWSMENTIONS CTR DOWNLOADS
  • A WORD OF CAUTIONI notice increasing reluctance onthe part of marketing executivesto use judgment; they are comingto rely too much on research,and they use it as a drunkarduses a lamp post: for support,rather than for illumination.David Ogilvy
  • WHY DO METRICS MATTER?1. Metrics reduce arguments based on opinion.2. Metrics give you answers about what really works.3. Metrics show you where you’re strong.4. Metrics allow you to test anything you want.5. Clients love metrics.http://bokardo.com/talks/metrics-driven-design-sxsw.pdf
  • WHAT ELSE CAN MEASUREMENT HELP YOU DO? EXPLORE CONSUMER UNDERSTAND CONTEXT OF DETECT DEMAND SENTIMENT BRAND & PRODUCT MENTIONS Now we can easily assess pre-existing Spontaneous product comments and Digital makes it is easier to detect demand among our target: how easy is mentions reveal sentiment around them, problems or possible areas for user acquisition going to be? and help us overcome existing boundaries improvement related products/service for product adoption. use. UNCOVER CONSUMER DEFINE CONSUMERS’ OBSERVE SOCIAL GESTURES & MOTIVATION MULTIPLE IDENTITIES CONTENT INTERACTION Digital traces reveal important Understanding different identities our Our targets’ gift-giving of content gives us drivers of human behavior that we audience assumes lets us help them in insights into where we can insert brand can use in shaping brand’s online their role-playing and is also useful in into their social exchanges. actions. targeting.via @andjelicaaa
  • THERE ARE ONLY 3 RULES OF MEASUREMENTYour metrics will be as UNIQUE as your business.If metrics aren’t ACTIONABLE, they aren’t worth using.DON’T TRY TO MEASURE EVERYTHING.
  • MEASURE WHAT MATTERS... TO WHOM? To your To your BUSINESS CUSTOMER
  • IT’S EASY TO FOCUS ON VANITY METRICS “Numbers that make us look good but don’t really help make decisions.” Eric Ries, The Lean Start-up
  • WHAT’S A VANITY METRIC? A lot of the time, we measure for a show reel, instead of for business results.http://bokardo.com/talks/metrics-driven-design-sxsw.pdf
  • WHAT MATTERS IS VALUE CREATION To your To your BUSINESS CUSTOMER CONVERSION ENGAGEMENT
  • 2. WHAT YOU SHOULD MEASURE
  • USE ‘PIRATE’ METRICSAcquisition: users from channels cometo site, landing page, widget, etc *Activation: users enjoy 1st visit, "happy" *user experienceRetention: users re-visit multiple timesReferral: users like experience enoughto refer others via email, links, likes,blogs, widgets, word-of-mouth, etcRevenue: users buy, download, sign-uphttp://www.slideshare.net/dmc500hats/startup-metrics-for-pirates-long-version
  • WHAT ARE SOME ‘VALUE’ METRICS? To your To your BUSINESS CUSTOMER CONVERSION ENGAGEMENT
  • Acquisition - drawing people into the brand experienceTo yourBUSINESS Revenue - converting visitors into customers CONVERSION Referral - converting customers into advocates
  • BEWARE THE CTR...The main metric for Acquisition isn’t CTR or “Site Visits”...It’s CPA: Cost Per Acquisition(e.g., how much did you spend to get a new user)But this by itself is irrelevantIf the CPA is higher than the lifetime value (LTV) of a new user,you’re in trouble
  • Activation - people enjoyed theexperience... To yourRetention - enough to come back CUSTOMERmore than once...Referral - and recommended the ENGAGEMENTexperience to others
  • HOW DO YOU MEASURE ACTIVATION?A net promoter of +50 or better is a great score.But it’s not good enough on its own - you have to ask people why they gave that scoreAnd then put that information to use
  • HOW DO YOU MEASURE RETENTION & REFERRAL? Returning Visitors Registered Users Likes, +1s, RTs Frequency Mentions Time on Site Email referrals Daily Active Users
  • VALUE CREATION =CUSTOMERS BECOME ADVOCATES To your To your BUSINESS CUSTOMER CONVERSION ENGAGEMENT
  • 3. HOW YOU SHOULD MEASURE
  • APPS & SITES HELP ANSWER QUESTIONS... I NEVER FELT LIKE I WAS LEARNING ANYTHING IMPORTANT
  • WHICH ONE IS MORE SUCCESSFUL? @37SIGNALShttp://www.slideshare.net/stueccles/lean-startup-metrics
  • WHEN DOES SUCCESS HAPPEN? EXTENDED SIGN-UP FUNNELhttp://www.slideshare.net/stueccles/lean-startup-metrics
  • WHERE IS SUCCESS COMING FROM? COHORT METRICS - CREATED PROJECThttp://www.slideshare.net/stueccles/lean-startup-metrics
  • DON’T HAVE ACCESS TO GOOGLE ANALYTICS?First -get access. :)Second -try QuantCast:Gives high-levelinsight into trafficsources, frequencyand volume to site,and basicdemographic andsocio-economic dataabout your visitors.And it’s free.
  • OR THERE’S CHARTBEATFor $10/month, tryChartBeat. It providesreal-time tracking andengagement metrics likeuser paths, time spentwith content, and micro-actions like clicks,downloads, and scrollsthat show whether peopleare actively engaging withthe site content.
  • FACEBOOKDashboard for a brandpage providesinformation on traffic,content, user activity.And starts to give asense of more than justlikes & mentions - the‘reach’ of the users whoare liking & talkingabout you on Facebook.
  • FACEBOOKThe advertisingdashboard has beenupdated to focus onsocial metrics - like‘social reach’ (theabsolute number ofpeople who saw an adwith social context -names/pictures offriends who connectedwith the ad’sdestination) and‘connection’s (socialactions triggered by anad, like Likes, appinstalls, event RSVPs) http://www.secondshares.com/2011/05/10/facebook-advertising-embracing-the-second-internet-ethos/
  • TWITTERTwitter has not yet released its Analyticstool... So in the meantime - you can usetwittercounter.com and tools likehootsuite/tweetdeck to track mentions &conversations
  • REMEMBER RULE 3 - DON’T MEASURE EVERYTHING -[WE’RE LOOKING FOR WHAT MAKES MEANINGFUL DIFFERENCES]
  • TITLEMain Idea•Bullet•Bullet
  • TITLEMain Idea•Bullet•Bullet
  • TITLEMain Idea•Bullet•Bullet GOOGLE BING
  • 4. HOW DO YOU ‘SELL IT’
  • HOW TO TALK TO CLIENTS & COLLEAGUES ABOUT METRICS Setting Goals Accountability Transparency Assessing Optimizing Learning Effectiveness Good measurement practices improve: client-agency relationships insight design results
  • SETTING REASONABLE KPI’SWhat are the business objectives?What are the campaign objectives?What are the channels/touchpoints?What is the campaign experience & message?What do we expect people to do?
  • A CREDIT CARD BRANDThe business objective:add new cardmembersThe campaign objective:use social media to drive newcardmember sign-upsThe touchpoints:Facebook brand page +Foursquare integration +Mobile-optimized Apply site
  • A CREDIT CARD BRANDWhat is the mostimportant KPI/successmetric?What would you measure/track to determine if youare succeeding?What experiments wouldyou run to find the bestroute to success?
  • A CREDIT CARD BRANDWhat matters is acquisition -new cardmembers.Acquisition comes fromqualified leads completingapplications - the result ofsmaller conversions: Revenue,•A larger prospect pool Retention &•Prospects to qualified Referral matter too: leads • Cardmembers to•Qualified leads to active spenders applicants • Cardmembers to advocates
  • THANK YOU!